Is It Possible that The Moslem Countries Can Accept The CryptoCurrencies System? - page 9.

BLAST2MARS

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Quote from: hugeblack on June 10, 2018, 09:41:10 PM

There are some aspects of Bitcoin that are incompatible with Islamic sharia, and the most critical issue is the "creation of money from nothingness."
Islamic Sharia recognizes gold and silver only, but money "paper money" has been added to it in recent years.
Based on that law, if the currency is not covered with gold and silver, it is not recognized, but it is the political decision that controls everything.
So, in short, if Bitcoin is accepted globally, those countries will recognize and deal with it "as paper money."

Bitcoin isn't just nothing like a rock or a pile of sand. Technically, it has many digital computations on its transactions. It is better than the paper money so it should be accepted by Muslims.

hugeblack

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There are some aspects of Bitcoin that are incompatible with Islamic sharia, and the most critical issue is the "creation of money from nothingness."
Islamic Sharia recognizes gold and silver only, but money "paper money" has been added to it in recent years.
Based on that law, if the currency is not covered with gold and silver, it is not recognized, but it is the political decision that controls everything.
So, in short, if Bitcoin is accepted globally, those countries will recognize and deal with it "as paper money."

senne

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I believe there should not be much problem for the Moslem countries to accept cryptocurrenies as it is just another payment system like gold and oil but totally a virtual system. Last year, there was news regarding Moslem countries may invent their own crypto currency but nothing has been declared till yet. Cryptocurrency has nothing to do with any religion, I believe this system has the power to unite people of different religion without the need of any third person.

bajingluncat

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Very likely because lawfully cryptocurrency in accordance with the function of money in Islamic Shari'a in use as a medium of exchange that is not detrimental to the seller or buyer

bintangkejoraku

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https://saturn.black

Why not ?
what's wrong with cryptocurrency? I think Muslim countries will accept cryptocurrency, as long as it is not against the teachings of Islam.

oninz26

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Quote from: ficihch on June 05, 2018, 12:10:06 AM

In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?

In my opinion as we are in a digital world theres big chances that they will become a part of it.We are here for reasons,to profit,no matter what race we are as long as we already know how everything works here,i think theres no exemptions,after all we what we want here is to do business related to crypto.

Baoo

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For me, the Muslim countries are the followers of the Europe in everything, and they cannot even do anything without the acceptance of those strong countries. So if the big governments will recognize Bitcoin or cryptocurrencies system the Muslim governments will recognize too. Furthermore, I heard after a few months (when the price of boats little rose) that the Muslims countries decided to consider the currencies non-haraam.

In addition to that, the United Arab Emirates has a big future project in the field of cryptocurrencies, and it is certain that this project related to Blockchain technology. This can happen after a long period because there are many problems related to the bad decisions (attacks) of the biggest governments toward Bitcoin and the other cryptocurrecies

bangkit tri

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Quote from: ladydark on June 10, 2018, 02:14:43 PM

Quote from: ficihch on June 05, 2018, 12:10:06 AM

In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?

Actually no such Islamic countries have neither banned nor termed cryptos as legal till now So the citizens of such countries have not found any difficulties in using cryptos and crypto usage is widely spreading there day by day

we know in dubai there is news that buying property using bitcoin. I agree with your opinion that no Muslim country forbids it completely, even though many Muslim countries have not legalized that

xvids

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I think it is possible after all I think there is no law that muslims countries couldn't use it ,
Bitcoin or crypto currencies are for everyone as long as they want to use it and they are free to use it then they could use it,
I don't really think that muslims are against cryptocurrencies or they aren't allowed to used it because of their Religion .

bowals

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I am still awaiting this actually. Hopefully, there would be widespread acceptance. Am not a Moslem so I don't know the rules.

ladydark

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Quote from: ficihch on June 05, 2018, 12:10:06 AM

In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?

Actually no such Islamic countries have neither banned nor termed cryptos as legal till now So the citizens of such countries have not found any difficulties in using cryptos and crypto usage is widely spreading there day by day

Wittycoin

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Ofcourse Cryptocurrencies system is possible to Muslim countries, why not? As long as there are internet connection and gadgets, why can`t they? Many Muslim countries are more advance like Saudi and Dubai and I think some people there are using not only bitcoin but other cryptocurrencies also.

tsmmyth

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Yeah definitely, countries like Saudi Arabia and Dubai are a lot more advanced than people think, especially Dubai. I think in another few years, hopefully all countries will be on board

Fuhre

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indeed most of the regulators at bay initially expressed skepticism about fintech and last year the central bank warned citizens against bitcoin trade because it is beyond the reach of bank regulations. however, the international financial center regulator abu dhabi said it might create rules for exchange deal with virtual currency.

boksoon

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Quote from: ficihch on June 05, 2018, 12:10:06 AM

In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?

Yes it is possible to use because is not a meat that it needs to put HALAL this is applicable all unless they don't accept the language of English like some other areas in Muslim country only their language might be used to speak of course their cellphone and some other gadget is exclusively Muslim dialic in other words English is strictly probited to their country And of course people there are no longer to avail or to use bitcoin like us.

bering

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the face of cryptocurrecies still bad for several moslem countries and still not possible in the near future for moslem countries will accept crypto system because there was some rules in moslem religion says cryptocurrencies system or similar of it is not allowed to apply even i have to says possible this is will never be happened

King Koy

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We are in the Modern time and traditional beliefs are fading little by little and what we actually really need today is not tradition but the change that can only be pursue far from traditional matters. So yes, it is possible.

Motigbo401

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Yes they can accept it

Yarsk

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It very possible due to the fact that bitcoin and crypto currencies are part of globalization and if they must adapt to modern civilization they have to follow the trends and for easy transactions digital currency is the best when it comes to peer to peer means and no boundary limit.

Jazmyn

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At the end of the day we would all discover bitcoin would overcome religion, race and systems of government to become a benchmark currecny once we are through with all these current bottlenecks.

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