Bitcoin can be considered just like any other asset in this case. If they can invest Stocks, Real estate, Gold, Silver, etc... then they should be able to invest in bitcoin as well.
Though bitcoin is used for illicit activities by some people it is also used genuinely by many others as a source of income.
So I think Muslims can invest in bitcoin if their sole purpose is to buy/sell bitcoin and gain profits.
Topic: Is Bitcoin halal? - page 5. (Read 1026 times)
With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.
And how many of those muslims are hardcore fanatics who follow every letter of the scripture literally? I'm sure a good portion of "25% of world's population" uses Visa cards and has bank accounts and doesn't care that some dudes said that it's immoral. So, regardless of what they say about Bitcoin, many muslims will still use it.
You exaggerate, I have not seen religions banning telephones and televisions and urging people to live in the forest or desert.
In Islamic law, there are banks and there are loans (but one should not confuse Islamic loans and non-Islamic ones).
There are a lot of Islamic banks in the world that operate according to Sharia law. Yoy can verify this yourself by writing a request in Google "Large Islamic banks"
https://listofbanksin.com/ListIslamicBanks.htm
But the most interesting point is that you will not find a ban in other religions to use Islamic banks, But all 4 religions that I wrote about above prohibit loans (in the form in which they are present in European, American banks and other countries)
I hoped that people can read and understand correctly. I'm sorry you have a problem with that. Furthermore, I know all this information. Likewise, I don't live in the forest.
Once again in that case. Religion forbids many things. Including entertainment programs. And now we read carefully what I am writing: if you fully adhere to a religion, inside and out, then cryptocurrency is just a small part of what true believers may not like.
And then we read: do not lose your head, and the main thing is to remain human, and not be a fanatic.
As many of the member said it's HALAL and the main reason is if it's acceptable from the 2 sides then its just a money as they do back in years " Deal is accepted between two people without any condition stumbling the deal and the agreement is clear and didn't effect the Sharia, it's Halal"
I remember I have long talk with a lot of Mash'aikh around me and some of them didn't understand what is actually Bitcoin and while explaining to them what exactly it is, they gave me the exact answer I just mentioned above.
Hopes that helps you.
I remember I have long talk with a lot of Mash'aikh around me and some of them didn't understand what is actually Bitcoin and while explaining to them what exactly it is, they gave me the exact answer I just mentioned above.
Hopes that helps you.
I think if we talk about a real Muslim or a representative of other confessions, at the present time it is quite difficult to adhere to religion. If you live according to all the canons and postulates, then you need to go to the forest or desert and give up absolutely all technologies. Including telephone, television, loans, and more.
Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.
You exaggerate, I have not seen religions banning telephones and televisions and urging people to live in the forest or desert.Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.
In Islamic law, there are banks and there are loans (but one should not confuse Islamic loans and non-Islamic ones).
There are a lot of Islamic banks in the world that operate according to Sharia law. Yoy can verify this yourself by writing a request in Google "Large Islamic banks"
https://listofbanksin.com/ListIslamicBanks.htm
But the most interesting point is that you will not find a ban in other religions to use Islamic banks, But all 4 religions that I wrote about above prohibit loans (in the form in which they are present in European, American banks and other countries)
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”.
You should increase your knowledge before declaring this. Bitcoin is used everywhere for good activities also and there is no inflation in bitcoin.
Is the fiat currency not used in gambling and speculation ?
BITCOIN BTC IS HALAL
interesting first post with a very stivky keyboard.. err bitcoin seems very halal especially when you turn them into real kosher food :p
n00b
n00b
I think if we talk about a real Muslim or a representative of other confessions, at the present time it is quite difficult to adhere to religion. If you live according to all the canons and postulates, then you need to go to the forest or desert and give up absolutely all technologies. Including telephone, television, loans, and more.
Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.
Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.
I am not trying to discourage people from believing in whatever religion they what but here is one of the reasons I think religions were just created to divide, manipulate and control people. Even when you have your own money, they now want to control on how you can invest it with some funny laws.
Aside from being an asset that can be invested in, Bitcoin can also act as an electronic payment alternative. Besides, what's so different from investing in Bitcoin to investing in Gold, Oil, Real Estates or Farming?
At the end of it all, everyone is trying to look for more gains.
Can't agree more.
In my country, these kind of issues have been like the epitome of divide and conquer and the politicians are often using them at their disposal. Recently, a non-Muslim restaurant that was established during colonial times patronized by Muslims for delicious (no pork served) food. Should be fine, right?
Don't go there, it's not certified Halal. And that's coming out from an Islamic State Department.
And yet the non-Muslims (or kafir) are contributing tax money to the government.
I don't know why you bring this up now because it is kind of an old news, they made up their mind years ago. To put simply the statement is like many others we have heard from governments, experts, banks, etc. To put simply if bitcoin is treated as a currency and is received as the payment for a legal (aka halal) work it is OK and you have no problem with it but if it is used for anything illegal (aka haram) such as scamming others, gambling, etc then it is no OK.
I read this back in 2014 when I started with bitcoin, so it is indeed old news.
I read this back in 2014 when I started with bitcoin, so it is indeed old news.
The use of Bitcoin under Islamic law has been a topic of discussion in recent years, as many Muslims worry that Bitcoin investments may be haram.
I am not trying to discourage people from believing in whatever religion they what but here is one of the reasons I think religions were just created to divide, manipulate and control people. Even when you have your own money, they now want to control on how you can invest it with some funny laws.Aside from being an asset that can be invested in, Bitcoin can also act as an electronic payment alternative. Besides, what's so different from investing in Bitcoin to investing in Gold, Oil, Real Estates or Farming?
At the end of it all, everyone is trying to look for more gains.
The issue of stock has been resolved for a long time. The Shariah Commission publishes listings of companies to invest in.
Write a request to google "halal stock".
Yeah, stock of companies that deal with interest, alcohol, or other harams, are haram as well while investing in other stocks have no issue. Then why would Bitcoin be haram? Does bitcoin deal with interest? No. It's just another currency; people may use it for any purpose, same goes with fiat as well.Write a request to google "halal stock".
Now look at the cryptocurrency situation and how it has changed over the past 3 years. Now bitcoin is used not only by cypherpunks and cryptocurrency lovers, but also by states and large world exchanges.
Therefore, religious scholars do not rush to conclusions.
Strange!!
No one is asking or forcing anyone to invest in Bitcoin if it against your religion then why to discuss it. Bitcoin is a choice and if you believe in the choice then you should be part of it.
Why bring religion into a technology that has disrupted the financial industry and is now questioning the existence of Fiat currency. I think this post is very irrelevant on this forum.
No one is asking or forcing anyone to invest in Bitcoin if it against your religion then why to discuss it. Bitcoin is a choice and if you believe in the choice then you should be part of it.
Why bring religion into a technology that has disrupted the financial industry and is now questioning the existence of Fiat currency. I think this post is very irrelevant on this forum.
Whether or not Bitcoin is halal has been a point of contention for many Muslims, as well as several Islamic banks and financial authorities in recent years.
This has left many Muslims worried about investing in cryptocurrencies—particularly during times of extreme growth—since they couldn't be sure whether the appreciation of their investment would be considered haram (forbidden) or halal (permissible) under Islamic law.
Well, the good thing about Bitcoin is that it's decentralized. No single individual, sect, religion or country can control it. Again, whether a group of people think Bitcoin is good or bad from a religious point of view is immaterial and highly inconsequential. What about situations where Moslems have thought alcohol is haram but they also enjoy proceeds of tax from alcohol manufacturing companies spent on building good roads, hospitals, social infrastructure and so on? I think religion shouldn't be a point of consideration while dealing with Bitcoin (or any other crypto at that). Perhaps those who make that allegation of Bitcoin being haram still think Bitcoin is gambling. Otherwise, they would've seen the big picture and realized that their condemnation doesn't hold waters. This has left many Muslims worried about investing in cryptocurrencies—particularly during times of extreme growth—since they couldn't be sure whether the appreciation of their investment would be considered haram (forbidden) or halal (permissible) under Islamic law.
The issue of stock has been resolved for a long time. The Shariah Commission publishes listings of companies to invest in.
Write a request to google "halal stock".
Yeah, stock of companies that deal with interest, alcohol, or other harams, are haram as well while investing in other stocks have no issue. Then why would Bitcoin be haram? Does bitcoin deal with interest? No. It's just another currency; people may use it for any purpose, same goes with fiat as well.Write a request to google "halal stock".
The issue of stock has been resolved for a long time. The Shariah Commission publishes listings of companies to invest in.
Write a request to google "halal stock".
Yeah, stock of companies that deal with interest, alcohol, or other harams, are haram as well while investing in other stocks have no issue. Then why would Bitcoin be haram? Does bitcoin deal with interest? No. It's just another currency; people may use it for any purpose, same goes with fiat as well. Write a request to google "halal stock".
I have heard from Christian, Judaist and Buddhist religious scholars that credit is a sin.
It is not only Islam that forbids giving money at interest.
People have forgotten their religion.
Write a request to google "halal stock".
It is not only Islam that forbids giving money at interest.
People have forgotten their religion.
If they do, what about stock? That certainly can't be Haram.
The issue of stock has been resolved for a long time. The Shariah Commission publishes listings of companies to invest in.Write a request to google "halal stock".
Money has no religion and people from each and every religion running everyday to make that money.
People who don't have any jobs are confusing the people because they talk controversial about thinks which are at the trend in the world.IIRC banking with interest rates are also haram as per Shariah law but how many people from that 1.9 Billion in this world having no interest bank account or loans.
If bitcoin is imaginary created using mathematical codes then fiat money too because it was created with paper and promised that it has some value by governments.
People who don't have any jobs are confusing the people because they talk controversial about thinks which are at the trend in the world.IIRC banking with interest rates are also haram as per Shariah law but how many people from that 1.9 Billion in this world having no interest bank account or loans.
If bitcoin is imaginary created using mathematical codes then fiat money too because it was created with paper and promised that it has some value by governments.
With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.
I heavily doubt this.
Do you have any numbers to support this claim? Or is it just your gut feeling?
Bitcoin is based on cryptography, mathematics and physics. Not on religion. No religion has any impact on Bitcoin.
In my opinion, we have heard about this discussion quite often among religious communities, quite a lot of research on the issue of halal or haram using bitcoin. If you are a Muslim, then you have to trust the views of your religious leaders because they may have different views from the bitcoin community.
But basically bitcoin has never forced anyone to use it as a means of payment, investment and trading asset, etc. Everything is up to the user, but on several occasion I have also read that some Islamic countries allow the use of this bitcoin.
Is this thread worthy of being passed on to the section on Politics & Society?
But basically bitcoin has never forced anyone to use it as a means of payment, investment and trading asset, etc. Everything is up to the user, but on several occasion I have also read that some Islamic countries allow the use of this bitcoin.
Is this thread worthy of being passed on to the section on Politics & Society?
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