Bitcoin is forbidden for Muslims - page 6.

Sinecoin

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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?

Never heard of this and no muslim i know has ever heard of this. It sounds like something someone said in order to get attention because if uncertainty was forbidden then everything in the world would be forbidden. If this logic was applied then trading stocks is forbidden so is any sort of investing, so is moving to another part of the country all because of uncertainty. What people tend to forget is that investing money is not forbidden in Islam its just the act of gambling where you have no clue about what the outcome could be.

hrz

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in the Islamic religion prohibits transactions or buying and selling of existing elements of gambling and there is in disadvantage and there is an element of persecution then the law of sale and sale will be haram or unlawful but if no one is called it then the sale is considered legal or allowed.

cpoer2011

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Hmm well I disagree with the statement that Bitcoin is forbieedn for Muslims because for me it's not a gambling. I have mining bitcoin, I have earned and the bitcoin I got I sold to the market. I do trading too to buy low sell high, so where is the side that bitcoin is some kind of gambling? For your info I am a muslim.

Royal Jelly

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I do not know for sure but maybe it's just the decision of a large organization that overshadowed Islam in one country only. kosher/halal or forbidden/haram I think it's an individual decision. The most important thing is not breaking the rules (in the community or government rules of a country) and do not commit crime.

SnapDown22

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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?

I think it all depends on the view and the mind of the person what bitcoin by following the campaign, the ICO bounty is also said to gambling I do not think we also do the work specified project and we get rewarded from it all

kyucryp

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Indeed gambling is forbidden to Muslims. But many people think bitcoin is not gambling, bitcoin is just a crypto currency whose price can go up and down. I think it's a trade and not a gambling. Muslims do not ban commerce. I do not really understand religion. But hopefully what I say is true.

rosepetals

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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?

If this is what their beliefs we will respect that but i haven't heard anything about Muslims believe that bitcoin is a gambling for them.I belong in an Asean countries in which Muslims have lived here in our place,i can see that they were business minded.In connection with this I only see bitcoin is a business.We invest and in the near future we harvest.We can say that this is purely business we wants profit on the right time.And i don't see theres nothing wrong with that.

kimochidesh

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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?

I don’t know about any such thing. But what I know is that many Muslims are trading in Bitcoins. Bitcoin is for everyone. Coming to the gambling part, yes Bitcoin have the element of uncertainty, but the securities market (share, debentures, etc.) also have this feature of uncertainty. So, is securities market also forbidden for them? Uncertainty is the key element of trading. This does not mean that it should not be done because the feature relates to gambling. Don’t over think!

crustycrab666

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Quote from: golek upo on April 06, 2018, 03:44:56 PM

Bitcoin does have a very volatile price, but I am confused with your opinion, you equate bitcoin with gambling. I am Muslim, and I am trading bitcoin.

Trading is very different from gambling. Trading is based on market analysis, not just taking a price and just relying on luck. Bitcoin can indeed be obtained by gambling, but it is not the only way to get bitcoin, there are other halal ways such as mining.

Abete

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this matter several times could become polemic, especially if appropriate 'fatwa'. but I am sure as long as we use them in balance, and know what our obligations as Muslims. I'm still in a good way. than if you are a Muslim and do no crime or corruption, that's more dangerous.

Arshanty

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Maybe yes maybe no. Because Bitcoin is not like gambling, if you say it then market share is also a kind of gambling that even Muslims and countries take part. There are things in the world that are standard and everything is moving up and down like gold prices, gasoline prices and currencies from different countries, we can not call all these elements as gambling. So, Bitcoin is also definitely not gambling.

Bitcoin_Delivery

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this is a mistake. bitcoin for a person is also widely used by Muslims but all are returned to the use of people. branded bitcoin as what and used as what. then we can conclude haram or halal

gabbie2010

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As far as bitcoin is concerned it is not gambling which is highly prohibited in Muslim world, be as it may working or trading to earn bitcoin shouldn't be term as illegality let separate religious beliefs with our financial life, this are different entities that are not correlated, hence working to earn bitcoin is not forbidden in Muslim world.

brickafterbrickwalldpt

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We shouldn't disccus political and religious issues here (at least not in this sections) but that's getting more and more ridiculous. Do you really think that muslims are going to sell their BTC right away because some people decided that it is bad because *insert nonsense explanation here*? Does anyone here know if muslims are allowed to use stock exchanges? Stocks could be also considered as gambling because their price is volatile. I can't wait to see Christian priests discouraging people from buying Bitcoin.

vintages

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Quote from: ?? on ??

I don't have much knowledge about Religion, but surely freedom (with responsibility) and having full control over your money isn't something bad/evil.
Also, buy/sell Bitcoin isn't gambling if you're know what you're doing, especially if you know about Bitcoin's potential (or profit potential) Roll Eyes

I agree to this. I don't really believe about Cryptocurrency been a bad or an evil thing but i believe that the reason why the mulism are terming it as a bad thing is because maybe there is no regulation and most scammers are using bitcoin for their evil need. And they feel that involving in it or possessing it would be going against their religion rules and regulation.

Topaz72

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Quote from: retnoanjani on April 06, 2018, 08:19:11 AM

Quote from: Zapto25 on April 06, 2018, 08:09:59 AM

which I know of no "fatwa" which says that bitcoin is off limits to Muslims, but gambling is forbidden because it can harm others and self, whereas in the system of sale and purchase sahah sahah the most important no fraud in buying and selling

That's right, there are indeed many disagreements regarding fatwas. As a Muslim, as long as I do not use a "haram" way like gambling to get bitcoin, I'm sure that's okay. This is a fairly sensitive issue, act wisely, and respect each opinion, and consolidate the decisions we make based on Islamic law.

Well mate in bitcoin there is nothing haram if you are doing it in a fairy way, like earning of bitcoin is for sure very good think if you are making investment only but some people are saying that don’t put a lot of money in bitcoin because it will not get any lose but the profit only so it is haram in this sense for them but I am not going to believe in that for me bitcoin is the profit only and it will have a lot of benefit for everyone if they are Muslim or they are non-Muslim, as I am Muslim I use bitcoin bounty campaign for earning and I get a lot of income with it, but I am fair with it, I use my knowledge for earning for earning and not gambling.

laryillary

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The principles of Islamic banking prohibit speculation and loan interest, as well as financing operations with alcohol and tobacco. Credit organizations that work under these laws directly receive income from the profits of business projects in which they invest.

Ray55

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Gambling like all things are prohibited by Muslims. Because these type of things called " Haram" . And they don't accept "Haram" . But Bitcoin is not gambling. This is an investment. Where we all want to fullfill our dream.so I don't think bitcoin is not forbidden for Muslims. I know some of my Muslim friends who are with bitcoin. And they all are successful with a good satisfaction.

Dluretic

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Muslims forbid a lot of things.
Most muslims are conservative, so it is perfectly normal for them to ban bitcoin.

aencarnaci

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Quote from: ggameon on April 05, 2018, 10:21:26 AM

1- What is wrong with people coming up with this bullshit
2- muslims are not one group of people adhering to the same rules, there are 1000's of mulims groups, there is no central person or group making these decisions "fatwa"lol
3- mohammad didn't know about bitcoin if he did he would probably own a big chunk lol

Anyway very disturbing people around in this forum lol

For those who want to connect religion with business is foolishness and in my point of view we do not have to allow such questions here. Useless questions wastes your time and we should do our work here in order to lead Bitcoin over all the competitive things in the market. Consider it a forum of advertisements and do not violate the forums rules.

Topic: Bitcoin is forbidden for Muslims - page 6. (Read 1249 times)