Topic: Is Bitcoin halal? (Read 1026 times)
Many people have different opinions about this, some say it is not halal, but also not haram, it is called syubhat, I even lost a good friend because of this, I prefer to continue working with bitcoin, although I am Muslim, because technology is also a gift of god that deserves gratitude, not to be left behind.
whether bitcoin is haram or halal I have explained above bitcoin for example gold holding gold is halal but if using gold is wrong it can be haram for example gambling using gold or buying marijuana using gold is an act that is forbidden in Islam as well as bitcoin depending on the bitcoin holder .
halal or haram a bitcoin exists in certain countries.it is very difficult to make a decision about it. moreover it is not my domain to reach the halal and haram level of a bitcoin, it goes back to each person's perception to make a decision, if indeed we feel unsure then we may leave it, because this is not a compulsion that forces someone to invest in this form of digital currency
As far as I know, the first opinion by Islamic scholars is that it is haram since it’s a fake currency.
I think bitcoin is like gold the difference is that gold can be held in real form and bitcoin is a digital currency for those who invest in bitcoin and gold, their goal is the same, namely hoping for profit,
do you really understand the topic? or you are just shitting post here? this is about religious belief and if you know nothing then better not to say anything because you canhurt someone's feeling.
we are not religious leaders, so to say bitcoin is haram and halal I don't think this is our field, because if one fatwa is wrong, the consequences will be fatal, in my personal opinion bitcoin is the same as gold, people can store gold, and so on. can buy and sell gold, as well as bitcoin, as long as there is no fraud, no extortion, and no one is harmed in buying and selling, in my opinion bitcoin can be said to be halal, just like gold which is also halal..
I think this is strictly a question about how the interpreters of the Quran and decision-making centers in the Muslim world will look at it. I am sure that the decision will be positive, since this does not violate any principles of Islamic finance. In Bitcoin, there is not even a trace of reference to the loan interest, which is prohibited in Islam. So everything else is just an excuse to find fault. I am sure that most of these countries are wise and think quite modernly and pragmatically.
Yes, that's right, I agree with your opinion. In bitcoin there is no interest in anything, just think of it like trading in the real world, buying at the lowest price and selling at a higher price and we profit from the difference. When compared to deposits, Islam clearly does not allow deposits which basically get results from interest on loans borrowed by other customers. it's true what you said, they are just looking for bitcoin errors only. ~snip
Every honest business in Islam permit as halal. Cryptocurrencies also a popular and honest business. So cryptocurrencies also halal for Muslim communities. But higher APY staking is Haram for Muslims communities. In Shariah, there is no valid reason to accept Bitcoin or other Cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for Gambling or Speculations, and used in illegal or unlawful transactions”.
I don't suppose that your comment means that Bitcoin is probably Haram based on the argument you are putting forward but you do understand that, all the ills you mentioned about the possible use of Bitcoin are also true for Fiat money? except for being an imaginary entity. so do we say that Fiat money might also be haram? I think it is what you do with you Bitcoin that matters. 
Whether Bitcoin is halal will usually depend on where you are investing it may not be halal in islam. Things are not clear under islamic law especially when bitcoin is exchanged for one type of currency for another in the western world people approve of this type of business and in very rare cases give it a second though. But some religions beg for questions about the position of islam which is quite strict in exchange for money religion matters which is a question of whether bitcoin can conflict with one person’s beliefs.
For me bitcoin is Halal, it depend how we use the investment. If we just investing without knowledge and just follow the hype then i can say it's gambling (not halal). But if we really know about the product, service and partnership i think it's Halal.
I think is depend on personal perspective.
For me, everything in this world is almost gambling we just can manage the risk.
The example is i try to open the coffee shop in shoping mall there is no guarantee i will get my money back, so theres no diferrent with investing on something.
But if we just invested without know anything what we invested in, so i can say isn't halal.
For me, everything in this world is almost gambling we just can manage the risk.
The example is i try to open the coffee shop in shoping mall there is no guarantee i will get my money back, so theres no diferrent with investing on something.
But if we just invested without know anything what we invested in, so i can say isn't halal.
This is an actually good debate, if the technology is up to the laws of Islam because Islam is by far the most strict there is in terms of religion. Although it is a good thing that they consider it as halal, it still poses the question whether technology should always meet the standard of Islam.
Every honest business in Islam permit as halal. Cryptocurrencies also a popular and honest business. So cryptocurrencies also halal for Muslim communities. But higher APY staking is Haram for Muslims communities. 
Before discussing further about Bitcoin halal or not, religion has its own way to forbid and justify investment money to its people: Usury is one of the prohibitions written in the Bible, Muslims, Christianity, Judaism, Hinduism and Buddhism all religions prohibit usury.
Example:
For that, let's review about Bitcoin whether Bitcoin is included in the Usury category or in the buy/sell category.
Usury: borrowing is signaled by excessive interest, as in the quote above, all religions are prohibited, not halal.
Bitcoin: Bitcoin is currently only traded as in general selling and buying 'investment' means you buy and hold for a certain period of time, if the price goes up you sell, if the price goes down you sell it means you lose.
Many Muslims do 'invest' in gold, buy when it's cheap and keep it and sell it when the price is high, why not say it's not forbidden, why is it halal, in the case of gold investment, many people do it, especially Muslims.
Conclusion: in Bitcoin elements that are happening today are: buying/selling, meaning: halal.
Example:
Quote
Muslims are forbidden to take usury and involve themselves with usury. Its clear prohibition comes from several suras in the Qur'an and the Hadith of the Prophet Muhammad. Allah permits buying and selling and forbids usury, and every business activity must be based on sharia principles and prudence.
Quote
Leviticus 25:36-37
"You shall not take interest or usury from it, but you must fear your God, so that your brother may live among you. Do not give your money to him by asking for interest, nor do you give your food by asking for usury."
"You shall not take interest or usury from it, but you must fear your God, so that your brother may live among you. Do not give your money to him by asking for interest, nor do you give your food by asking for usury."
Quote
Jews were forbidden to practice taking flowers.
For that, let's review about Bitcoin whether Bitcoin is included in the Usury category or in the buy/sell category.
Usury: borrowing is signaled by excessive interest, as in the quote above, all religions are prohibited, not halal.
Bitcoin: Bitcoin is currently only traded as in general selling and buying 'investment' means you buy and hold for a certain period of time, if the price goes up you sell, if the price goes down you sell it means you lose.
Many Muslims do 'invest' in gold, buy when it's cheap and keep it and sell it when the price is high, why not say it's not forbidden, why is it halal, in the case of gold investment, many people do it, especially Muslims.
Conclusion: in Bitcoin elements that are happening today are: buying/selling, meaning: halal.
This is an actually good debate, if the technology is up to the laws of Islam because Islam is by far the most strict there is in terms of religion. Although it is a good thing that they consider it as halal, it still poses the question whether technology should always meet the standard of Islam.
I think bitcoin is like gold the difference is that gold can be held in real form and bitcoin is a digital currency for those who invest in bitcoin and gold, their goal is the same, namely hoping for profit,
do you really understand the topic? or you are just shitting post here? this is about religious belief and if you know nothing then better not to say anything because you canhurt someone's feeling.I don’t think so. Bitcoin is a cryptocurrency, not a religion. People who believe in religion may buy Bitcoin. Anyone can buy Bitcoin. It’s not that Bitcoin is only bought by a few people. Bitcoin is equal to everyone. of,
Here is another one. Read the whole topic and you will understand what's the conversation is all about.
does even investment or a Currency need to be Halal? with due respect to Muslim community but is this really needed to be?
i thought this only applies in food? sorry maybe i understand this wrongly .
i thought this only applies in food? sorry maybe i understand this wrongly .
In Shariah, there is no valid reason to accept Bitcoin or other Cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for Gambling or Speculations, and used in illegal or unlawful transactions”.
I don't suppose that your comment means that Bitcoin is probably Haram based on the argument you are putting forward but you do understand that, all the ills you mentioned about the possible use of Bitcoin are also true for Fiat money? except for being an imaginary entity. so do we say that Fiat money might also be haram? I think it is what you do with you Bitcoin that matters. In Shariah, there is no valid reason to accept Bitcoin or other Cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for Gambling or Speculations, and used in illegal or unlawful transactions”.
I don't suppose that your comment means that Bitcoin is probably Haram based on the argument you are putting forward but you do understand that, all the ills you mentioned about the possible use of Bitcoin are also true for Fiat money? except for being an imaginary entity. so do we say that Fiat money might also be haram? I think it is what you do with you Bitcoin that matters.
I think bitcoin is like gold the difference is that gold can be held in real form and bitcoin is a digital currency for those who invest in bitcoin and gold, their goal is the same, namely hoping for profit,
Jump to: