Excuse my ignorance on the topic but you say short selling is harm, however, I don't think you mentioned what short selling is. I am not familiar with the term. Could you please explain.
Assalamualaikum.
I want to know about my investment with bitcoin.i don't know how to describe my investment etheir it binary or what.
I give example.
I invest 0.005bitcoin.the company have 2package with is
1) 147% profit for 6week, daily profit 4.5%
2) 180% profit for 9week, daily profit 8%.
My question is...It's Halal or Haram?
Waleikum Assalaam wa Rahmatulahi wa Barikahtu Sabrina.
Thank you for your post. In regards to saying whether this scheme is halal or haram, the truth is, I do not know. You say that this website says that in 6 weeks you will have a 147% profit. The question you have to ask is, "HOW are you making the profit?" "WHERE is this profit coming from?" "WHAT METHOD is being used to make the profit?" Once you have an answer to these questions then you can figure out if it is halal or haram.
Insha'Allah within the next 2 weeks I will release the final part of the 4-part "Is Bitcoin Halal Series" and we will talk about investing insha'Allah.
Take care and Salaam
salam alaykum how are you brother? i wanted to find out if bitcoin is halal, 1 of my relatives traded with it,.. im not sure if its the same but its you put a certain amount of money and after a month that money doubles.. is it halal? buying money with money..please explain to me.. JazakaAllah
Allah bless you
Waleikum Assalaam wa Rahmatulahi wa Barikahtu,
I truly cannot say if what your relative did is permissible or not according to the sharia because there is not enough information provided. I do not know what he was trading or how it was traded so I cannot say. In regards to if Bitcoin is halal, Please see the following blog post - http://www.islamandbitcoin....
May Allah guide us all akhi, Ameen.
JazakAllah kheir for the support.
Salaam
Assalaam Alaik,
Jazak Allah Khair.. I'm enriched. I had been following this series right from the first post.
Even though you didn't explicitly stated that bitcoin is Halal, I think since at least it is not Haram,
can we regard it then as permissible. Like Al-Mubah?
Thanks a lot.
Waleikum Assalaam wa Rahmatulahi wa Barikahtu,
JazakAllah kheir for the support. I would say that at this time it does seem that Bitcoin falls into the category of mubah, which is commonly referred to as neutral. However, even with that being said, when using Bitcoin you do have to pay attention to the laws of the land where you live. If it is illegal in one's country, then the scholars will tell them it is not permissible to use but if it is legal where they live then they would say to proceed with caution.
Salaam
Thanks for the reply.. I'm eagerly waiting for the remaining series.
Alhumdulilah... I should be releasing the 3rd blog post on Bitcoin mining soon isna'Allah.
Be well akhi.
Salaam
