Bitcoin is forbidden for Muslims - page 10.

Aandosq1

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Quote from: zarados on April 03, 2018, 07:59:46 AM

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

Under current regulations or what they call 'fatwas', although bitcoin is considered the currency of the future and part of technological development, bitcoin can not be separated from any of the elements that can make it forbidden to use.

Zin-Zang

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Quote from: zarados on April 03, 2018, 07:59:46 AM

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

Muslims don't all agree with the fatwa, as the fatwa was put out by a centralized authority figure in Turkey.
The fatwa also complained that bitcoin was not backed by the government,
the conflict in this is that gold , silver , Food Barter is also not backed by the government , so bitcoin falls into the same category as these items which the fatwa ignores.

Two Turkish Muslims were just fired for ignoring this fatwa.
https://themerkle.com/turkish-imams-fired-for-violating-fatwa-against-bitcoin-trading/

As long as Bitcoin does not pay an interest that exceeds the Islamic requirement of becoming usury ,
then there is really nothing in Islam blocking the usage of bitcoin.

In Time , this centralized authority in Turkey will be shown to be cow-towing to government contacts,
as his fatwa will be repealed or ignored as it has no legitimate reason to be followed in their religious ideology.

* Be aware, Muslims outside of Turkey are under no obligations to follow a fatwa from a Turkish figure. *

Xester

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Quote from: zarados on April 03, 2018, 07:59:46 AM

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

That is a misunderstanding of fatwa. Also there is something wrong with your interpretation of gambling and investment. If we talk about uncertainty then would you mean that muslims cannot do business since business are all uncertain since it could earn a lot or it will shutdown due to low sales. When you establish a business you are risking your capital for a potential profit from sales, that is the same with bitcoin when you place your money into bitcoin you are hoping that you will gain profit. Thus bitcoin is not forbidden for muslims.

ChotyDonat

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I know bitcoin is an object, while gambling is an activity. So bitcoin can not be compared with gambling.
There are various ways to get bitcoin; barter, trading and mining.
Is barter haram? I do not think so. when other people need bitcoin and we need money, then it is okay, we can do the exchange.

yulionoo

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yess right. asset is always unpredicted. investation is unpredicted.
you just see for one side. bitcoin is unpredict, but you can still calculate in future you can take profit or not by looked at past.
all muslim is forbidden to guest about future, but if you have data that circulate everytime and it make something happen in everytime too, so it never mind.

JerryJam

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Religion is important in financial matters. Islam has clear rules. They are based on Sharia law.Even in Hitler's army were Muslim troops. They blindly believe what they are taught. They are easy to manage. Islam requires that any currency should have an internal value. Since bitcoin does not have a binding to any resources, according to Muslims, bitcoin is not money.Bitcoin can be used as a more suitable medium for intermediate storage of valuables. The use of bitcoin in the Islamic world is limited.In General, bitcoin is not prohibited by Islam. But religious authorities are concerned about the high volatility of bitcoin prices.

Hypnosis00

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I think this is a lie because bitcoin doesn't have standards for the religion and bitcoin doesn't care if you are a muslim, a catholic and so on and so forth. Bitcoin is for all of the people in this world and we should not agree if we will see some people or organization that will encourage others to forbids bitcoin for muslims or even other type of opportunity because opportunities doesn't care to the religion, age, financial status and so on.

Marma Kalari

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Quote from: zarados on April 03, 2018, 07:59:46 AM

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

Really surprised to see how dumb people are even in this era, if bitcoin is gambling, then every investment you ever make is a gambling, there is no guarantee that it will reach a certain valuation, you are having a expectation that it would rise again in the future and that is not gambling. If someone things that it is not good for them, then do not trade in it, as if the world is looking forward for everyone to trade bitcoin. Tongue

UAE Seasider

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Just when you think you have heard everything then you get another bizarre statement from the people that practice religion. If you want to believe in God then that's fine but you really don't need a strict set of rules dictating every minute part of your life and a book telling you what you can or cannot do. Everyone should be free to make their own rational choices of what they feel comfortable with and does no harm to others.

gundala

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Fatwa determination is based on many aspects. If in terms of uncertainty, related to the price that is easily changed so that it has a very high risk if used as an investment, can bring "mudharat" so it is better to avoid, some scholars think so. However, from other aspects, in Rasulullah era, there has also been trading currency in the form of dinar and dirham coins, and it is halal. Different if used or obtained in a way that is not halal, such as by gambling or stealing.

shezu007

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Quote from: Sithara007 on April 06, 2018, 12:58:26 AM

Quote from: irenegaming on April 06, 2018, 12:28:33 AM

There are a number of Islamic countries accepting BTC and some even making more improvements on it already, such are not authentic claims, that are only misleading the masses

I can't think of any Islamic nation which has made Bitcoin 100% legal. Most of the countries which have legalized Bitcoin are in Europe or East Asia. On the other hand Islamic nations such as Indonesia and Bangladesh have banned Bitcoin and arrested crypto-traders.

Nope, its not true that Indonesia and Bangladesh have arrested crypto users while also i want clear you that there is no such rules in islam against bitcoin concept because bitcoin is a currency and you can earn it with legal work there is no illegal work require to earn bitcoin so Islam will never you to forbid such type of work. While if a country policy can ban bitcoin then that is the rules of country due to some internal business issues if they feel otherwise most of the countries like pakistan, malaysia etc people are using bitcoin freely. People are doing business and in Islam the most favorite earning method is business.

Sithara007

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Quote from: irenegaming on April 06, 2018, 12:28:33 AM

There are a number of Islamic countries accepting BTC and some even making more improvements on it already, such are not authentic claims, that are only misleading the masses

I can't think of any Islamic nation which has made Bitcoin 100% legal. Most of the countries which have legalized Bitcoin are in Europe or East Asia. On the other hand Islamic nations such as Indonesia and Bangladesh have banned Bitcoin and arrested crypto-traders.

irenegaming

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There are a number of Islamic countries accepting BTC and some even making more improvements on it already, such are not authentic claims, that are only misleading the masses

Rozita

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The price is volatile and it is same as stock market and Gold. I don't think It is forbidden for them to invest in Stock market or Gold. There are many financial activities that they are involved in.

Finestream

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Quote from: ?? on ??

It’s not gambling, if you say it is then share market is also a kind of gambling which even the muslim people and countries take part. There is thing in the world which is standard and everything moves up and down like gold price, petrol price and currencies of different countries, we cannot call all these elements as gambling.

Exactly.Bitcoin does not pertain to gambling just because of its price volatility.IMO bitcoin does only give lots of opportunities to earn more profits and its up to the user already if he/she will use it in gambling activities.As far as i know,muslims are not forbidden to use things brought by new technologies and this bitcoin is just one of those.

dimiinx

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Quote from: poli.isk on April 05, 2018, 10:58:16 AM

Is it serious? that faith is strange. and then there's this. although this is expected of them, it is the first faith that openly asks for people to be killed for Allah's sake. God forgive me!

do not be too serious about the issue of bitcoin ban on Muslims,many religious experts say that bitcoin is haram and some say bitcoin is halal. if an item we get in a way that is not good then it can be said to be haram,but if we get it with our energy and get it in a good way then it is lawful.

mOgliE

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Hi,

I think this depends on you. If you think that bitcoin is like gambling and that it is not conciliable with your religious practice, then don't do that.

But I know that some muslims drink wine. Or eat gelified candies. Your religion and what you do only concerns you and your consciousness. And no other human being should judge you!

GaPR

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I am a grateful servant of Allah Almighty, working to make investments in technological ICO, bitcoins and other projects that will bring people benefits and relief in business and life. I earn money on this and hope for the mercy of my Lord. But, I do not consider projects related to violation of official Jurisdictions, casinos, drugs, alcohol, prostitution, etc.

nesis67

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In my opinion, bitcoin is forbidden for a Muslim if it contains gambling and bitcoin used for crimes that violate Islamic religious law and violate state law.

jademaxsuy

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Well stating without references could be difficult to prove about the statement. How do we know that bitcoin is just like gambling as what it was stated? Just by analyzing it for its uncertainty? I must say all of the investments had unpredictable results yet we could not consider them that as a gamble. There should be a representation in behalf of our muslim brothers on their stand on bitcoin and make it as a reference. so bitcoin in muslim areas or country could not be allowed. I do not know really if our muslim brother are not embracing crypto but i have seen some.threads and post even in bounty campaign translation somehow there are muslim there joining.

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