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NIV 1 John 2:2 "He is the atoning sacrifice for our sins, and not only for ours but also for the sins of the whole world." Clearly states that Jesus was the atoning sacrifice for our sins. It's not about doing a certain amount of repenting to be close enough to God, NASB Ephesians 2:8 8 "For by...

I think the punishment Jesus took for us was that he paid the penalty for our sins so those who believe in Him will be forgiven and won't have to be in hell, I don't think it was about avoiding another flood.