Is Investing A Sin?

[mercy100]

I am trying to grow the little money that I make a little faster than putting it in a saving account. I have been hearing a lot about bitcoins, and I was wondering if it's a form of gambling.

[Justin Adams]

2 minutes ago, mercy100 said:

I am trying to grow the little money that I make a little faster than putting it in a saving account. I have been hearing a lot about bitcoins, and I was wondering if it's a form of gambling.

No more than other stocks and shares. Right now prices are low, so if you want to hold on to coin a bit you may do well.

[johnthebaptist]

1 hour ago, mercy100 said:

I am trying to grow the little money that I make a little faster than putting it in a saving account. I have been hearing a lot about bitcoins, and I was wondering if it's a form of gambling.

I wouldn't call investing a sin, but when you invest, there is no guarantee you'll get a penny of your investment back. When I was building a 401k, I put every penny into "interest bearing income," rather than things more risky, and potentially more profitable. I am now retired, and though not wealthy, I live comfortably.

I know nothing about bitcoins.

[Riverwalker]

From what I heard this is the wrong time to get into bit coin.  Investing even

With the democrats driving this economy into the inflation ditch the best thing you could probably invest in is Gold.

and no its not a sin.  Greed and covetousness are, but you can invest and not go there

Jesus even used investing in a parable

Matthew 25:

14 “For the kingdom of heaven is like a man traveling to a far country, who called his own servants and delivered his goods to them. 15 And to one he gave five talents, to another two, and to another one, to each according to his own ability; and immediately he went on a journey. 16 Then he who had received the five talents went and traded with them, and made another five talents. 17 And likewise he who had received two gained two more also. 18 But he who had received one went and dug in the ground, and hid his lord’s money. 19 After a long time the lord of those servants came and settled accounts with them.

20 “So he who had received five talents came and brought five other talents, saying, ‘Lord, you delivered to me five talents; look, I have gained five more talents besides them.’ 21 His lord said to him, ‘Well done, good and faithful servant; you were faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord.’ 22 He also who had received two talents came and said, ‘Lord, you delivered to me two talents; look, I have gained two more talents besides them.’ 23 His lord said to him, ‘Well done, good and faithful servant; you have been faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord.’

24 “Then he who had received the one talent came and said, ‘Lord, I knew you to be a hard man, reaping where you have not sown, and gathering where you have not scattered seed. 25 And I was afraid, and went and hid your talent in the ground. Look, there you have what is yours.’

26 “But his lord answered and said to him, ‘You wicked and lazy servant, you knew that I reap where I have not sown, and gather where I have not scattered seed. 27 So you ought to have deposited my money with the bankers, and at my coming I would have received back my own with interest. 28 So take t

[mercy100]

Thank you all! I appreciate the helpful advice!

[R. Hartono]

3 hours ago, mercy100 said:

Thank you all! I appreciate the helpful advice!

Invest in gold saving at the bank, u don't literally get gold but u save money in bank with gold value.

Most Investment offers u with high return are all the Ponzi scheme robbing people.

Edited June 11, 2021 by R. Hartono

[Deborah_]

Technically, all forms of investment are a gamble - but some are much safer bets than others. 

Putting your money in a bank is failsafe, but (certainly in the UK) interest rates are so low that you might as well not bother. With stocks and shares you can win 0r lose - but you're more likely to 'win' if you put your money into some kind of investment fund where a professional does the actual picking of the shares.

Then there's gold or bitcoin.

Personally, I think that a Christian should put their money where it's going to benefit somebody else as well as themselves. If you put it in a savings account, the bank will lend it to someone who needs a loan. If you buy stocks and shares, the company that you invest in uses the money to expand and run their business. But who benefits from bitcoin? To me it seems rather like hoarding your wealth under the mattress.

[Justin Adams]

As you can see over the last month BTC has levelled off. Musk made a big difference to it. You can purchase mBTC amounts but they always charge a fee to buy and sell.

Personally, I would buy second hand firearms or good used tools. They are easier to liquidate and might even be useful. For a woman, a good Serger or sewing machine with monogram capability. Do not keep cash but use if for easy to exhange commodities.

[Justin Adams]

For a newbie or novice, Robinhood is a nice easy to use site for investing in coin or stocks. It is easy to get an account and you can watch things without purchasing shares or coins. It is a good site for getting familiar with the various markets. It may take a couple days to get verified, but it is worth it for the information you will get.

[AnOrangeCat]

Some good advice here. I'd look at it this way. Are you making an informed, sound decision or are you blindly tossing money somewhere in the hopes that it will multiply? Investing money always has been a gamble in the sense that it may or may not pay off, but many elements of our worldly life do have an element of risk to them. The used car could save you a lot of money or it could be a nightmare that breaks down regularly, for example. But if we keep ourselves informed it can be more of a calculated risk than sticking money into a slot machine.

So far as Bitcoin and cryptocurrencies go I personally feel that they're a bubble of sorts. Historically currency has been things that hold some sort of real value for living. People used to barter with food, livestock, goods, and so on. Precious metals also have use to us. Things with actual value will continue to have that even if our society breaks down. I'm not so sure people would care about bitcoin if we have some kind of a breakdown.