A faith-based cryptocurrency? I thought that’s what they all were.
Since all crypto currencies are primarily to secretly engage in criminal activities, I’m assuming this one’s intended for transactions involving the pedophilia and kiddie porn markets.
Without commenting on the cause; A fool and his money is soon parted.
“Cathio, a cryptocurrency for the religious right that seems to fuse grift and faith in one.”
Reminds me of a book I once read.
It said, No man can serve two masters: You cannot serve both G-d and Mammon.
I wonder if Santorum or Schlapp ever read that book.
They’ve only read the version that was redacted by Joel Osteen.
What can wrong with Santorumcoin? Accepted in fine bathhouses all over the world.
Finally! God, grift and crypto. Can you get any closer to a perfect Reactionary Trinity?
So they are creating their little sacred world? Will they contribute to Trump campaign using this cryptocurrency? Will they put his image on it?
Would it be irresponsible to speculate that this is to facilitate secret funding of right wing terrorism?
It would be irresponsible not to!
Everyone now knows that the god of Abraham burned down Notre Dame cathedral as punishment for centuries of abuse, child rape, theft, slavery, cozying up to despots (including Hitler), hindering AIDS treatment and a host of other atrocities by the catholic church. It was long overdue.
An absolute classic. Ain’t no griftin’ like some church griftin’
And we are complaining why? I hope the endowments of Liberty University, Oral Roberts University, Bob Jones University, and all of those other repositories of hate, bigotry, and flimflammery go long and all in with the S[hlapp]S[antorum] boys. It’ll be better than if they put their money with Madoff.
“that seems to fuse grift and faith in one.”
You just described organized/institutionalized religion.
I don’t think any of those are Catholic institutions, so it seems unlikely that they would jump on board. The conservative Catholics are currently useful accomplices for the Protestants, but I doubt they’d go so far as to call them “allies” and they certainly wouldn’t throw money at a Catholic grift. That would cut into their own grift.
Parishes in the Archdiocese of Baltimore have been able to accept electronic donations (via checking, savings or credit cards) since at least 2012 through arrangements with local banks.
This Cathio seems to me to be just another Ayn Rand inspired scam - using religion to separate trusting people from their money.
The problem with the cryptocurrency market is it can be exceptionally frothy…
"Cathio charges around a 2% transaction fee for “donations and remittances.”
Huh…grifting off grift. Is this Grift^2? How very meta…
Another press release, issued the same day, specifies that the platform will run on blockchain — the technology that underpins cryptocurrencies. The FT reported that it will be a “stablecoin” — a digital currency that aims to be less volatile than other virtual forms of money.
It just occurred to me - what if the recipient churches receive these donations, not as dollars, but as “stablecoins”? They would then have to convince their suppliers and employees to accept “stablecoins” as payment - or try to sell this cryptocurrency for whatever they can get.
The donation fee may be relatively small, but the post-donation side of the operation could mean big bucks for scammers.
Nothing more need be said.