Bitcoin has some cult-like characteristics. The mysterious leader, the esoteric concepts, the devoted followers, and the proposed alternative monetary system are just some of the ingredients that make Bitcoin, at least from the outside, an exclusive club for certain personality types.

This could also be argued about Manchester United supporters, Harry Potter fans, or stamp collector aficionados. Every closed association generates its own ethos, aesthetic, and style and could be seen as foreign and even negative from the outside world.

One of the main differences between a mainstream group or religion and a sect is often the number of devotees.

Christianity, socialism, and Apple are not generally considered cults, just because these have too many followers.

This begs the question: Is a cult just an early-stage mainstream trend? Will eventually most minority groups become normal? And, is it necessary to become extravagant, intolerant, and niche in order to succeed in society?

Let’s analyze the characteristic of the Bitcoin movement and why it could be compared to a cult.

The Mysterious Leader

Satoshi Nakamoto created the Bitcoin protocol and selflessly shared it with the world. Once the system was up and running, he or she or they disappeared from the online world and let others continue with the project.

There are many reasons to think his motivation was altruistic and the only aim was to fix the world by creating a superior form of money that can’t be manipulated by banks or governments.

14 years after the release of the white paper, many Bitcoin devotees keep searching for the smallest clue that might reveal the identity of their leader.

So far, the mystery remains.

Satoshi goes even further than most spiritual leaders and has managed something quite remarkable: to remain anonymous in the internet age.

Buddha, Jesus Christ, or Mohamed did not manage/care about hiding their identity which would have given them a halo of mystery and put them on an even higher pedestal.

Someone said you should never meet your heroes. If you do, you’d be disappointed. We are all humans and we all have flaws. When we think of historical characters, we rather assume they were perfect even though chances are they weren’t.

The Church has made a huge effort through the centuries to clean the historical figure of Jesus thus separating the human from the spiritual leader and creating the necessary distance to ensure admiration and devotion.

Nakamoto achieves that just by remaining anonymous.

Many things could be said about Satoshi but one thing is clear: he didn’t do it for fame or money.

In a world where just about everyone seems to be fighting for those, it’s admirable to forgo both and focus on the task at hand.

In this sense, Satoshi is not the typical cult leader who wants power, fame, and lots of money. Satoshi is more like the anti-leader who shift the focus to Bitcoin and away from personal gain.

Cult-like leader score: 4/10

The Language

Bitcoin jargon can be quite esoteric. Blockchain, timestamp, mempool, SHA256, mining, ASICs, and so on.

If you are not into it, you could be tempted to think people are making up words as they speak.

But this is also true in any discipline — genomics, nuclear energy, or soccer. Just unusual language doesn’t necessarily mean there is secrecy and it’s more the consequence of specialization.

Cult-like language score: 6/10

The revolution

Bitcoiners aim to change the world. They want to get rid of the obsolete system of banks, fiat money, and wall street and create a new order in which money and financial matters and more transparent, less manipulable, and more decentralized.

This has been the aim of many revolutions in the past like communism where a minority pushes its agenda to get into power and try to change the rules.

Communism and many similar movements were considered a cult at the beginning and it was only when they achieved a mainstream status that the ideas were deemed more acceptable by society.

Due to the Decentralized nature of Bitcoin, the aim here is not to replace one actor with another but just to change the monetary system so it can’t be tampered with by humans.

Can an algorithm be considered a cult? Not sure.

Cult-like revolution score: 6/10

Proselytism

Bitcoiners want to convince you to join in. A movement like this can only be successful if there are enough followers.

This is also true of any religion, ideology, or sport. Until the group achieves critical mass, there is no guarantee of success.

Bitcoiners, like me, call out shitcoiners, fiat scammers, and politicians and try to convince the world that the current system is broken and we need a lifeboat.

That’s what Noah did when he built the ark

If you believe in global warming, equality, or veganism it is normal to try to share your views with others so they might benefit from a new perspective.

If Bitcoin is right (and it is) there is no room for Fiat money or banks and very little room for Altcoins. This is why we keep telling the world; be careful, you are in a sinking boat, these are the facts, if you remain on the Titanic you will sink.

We have a moral duty to warn normies, we were one of them before until someone, somewhere, opened our eyes. If and when the system collapses, I don’t want anyone to blame me for not warning them enough.

Cult-like proselytism score: 7/10

Maximalists

When a Bitcoiner buys another coin or invests in the stock market they are rejected from the group. This is known as maximalism and generally speaking, maxis are quite intolerant of any deviation from the norm.

Elon Musk was a famous Bitcoiner that soon became infamous. The community takes betrayal very seriously and no dilettantes are tolerated.

The reason for this is the number of scams available in the crypto world and the duty of Bitcoiners to call them out. A premined decentralized currency can only be either a scam or a distraction. There is only one Bitcoin and dabbling in low-quality copies is not good for anyone.

Bitcoin Maxis cult-like score: 9/10

Ponzi

Most cults, or at least their leaders, tend to be preoccupied with making money, in fact, most religious movements are just an excuse to extract wealth from their devotees.

In the case of Bitcoin, there are no leaders, so technically, it’s protected from this danger.

It could be argued that early adopters will benefit disproportionately from the newcomers making the whole system a pyramid scheme.

But that is not the case. Most early adopters either lost their coins, died, or sold too early. There are not many big players around who bought at the beginning.

Michael Saylor, one of the biggest whales, has bought 130,000 Bitcoin at an average price of $21,000. Satoshi has one million BTC but has not touched any and is probably dead.

There is no elite, no early adopters holding millions, or some exclusive group profiteering from the new entrants. The Ponzi scheme theory doesn’t stand scrutiny.

Ponzi cult-like score: 1/10

Conclusion

Bitcoin might appear to the untrained eye as a cult but this is so only because most don’t take the time to understand what money is and how it can be improved.

My father used to regard the internet as evil and all those who partook in it as brainwashed victims. I don’t think he was right.

It is easy to reject what we don’t know rather than make the effort and question our previously held beliefs.

If anything, fiat money, central banks, and Wall Street are more of a cult (and an exclusive one) by all measures where they have found a way to siphon money out of your pocket and onto theirs.

When you find yourself pointing fingers, first examine the group you belong to, the indoctrination you have been subject to, and question your ability to be objective.

Everything is a cult if we are loose enough with the definition. Bitcoin might as well be a cult but if so it’s one that will likely change the current system for the better.

Stay out or join in but do so after having done your homework.

Don’t get brainwashed by anyone, and that includes the government.