IslamCoin Project | Bitcointalksearch.org

sekalitas

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Quote from: Mokemokk on March 24, 2024, 12:42:39 AM

IslamCoin Project

1. **Sharia Compliance:** IslamCoin is a digital currency built on the principles of Islamic finance, avoiding any form of riba (interest).

2. **Justice and Transparency:** Utilizing blockchain technology ensures fairness and transparency, allowing users to monitor all financial transactions transparently.

3. **Environmental Sustainability:** IslamCoin employs energy-efficient blockchain techniques, reducing its environmental impact and making it a sustainable option.

4. **Donations and Zakat:** IslamCoin facilitates receiving donations and zakat through the designated wallet address "TCe1raXGoLREFLEtSc3Hwkf9mxfU95rHmN," ensuring transparency and reliability in the use of these funds.

5. **Independence:** IslamCoin is designed to be entirely independent of any other currency, making it a standalone and freely developable option.

IslamCoin aims to provide an innovative financial solution that aligns with Islamic values, intending to promote Sharia principles in the digital finance world.

I'm not very comfortable with altcoins that use religious names. It feels like they're using religion to attract investors, and that doesn't sit well with me. Religion is sacred, and its name shouldn't be used casually for business purposes.

I think a better approach would be to use a unique name but use the religious principles the altcoin is based on. However, the explanation should be clear enough for the general public to understand.

Speaking of which, I found two altcoins named IslamCoin: Islamic Coin (ISLM) and Islamicoin (ISLAMI). These similar names are confusing, and neither seems to have a strong price or trading volume.

However, ISLM's roadmap for Q2 2024 does have some interesting aspects. These include launching a gold-pegged stablecoin with the collaboration of top UAE banks and enabling borderless e-commerce in several countries.

Raflesia

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Let's be honest buddy offering something in a religious way and name is not going to make it worthwhile and even seem like demeaning religion itself in the end.
In the end, things like this always happen but indeed everything will seem the same where the content is just a token meme. My point is that it is not wrong if you want to find a new innovation but in the end when religion is used as a marketing tool I feel it becomes inappropriate, especially there is a project plan where there are words "zakat and donation" we don't even know what the use of this is because in the end we may not even know where the money we donate will be channeled in it.
It is not wrong because everyone is free to express what they like but we must be able to distinguish which will be appropriate and which will not because projects that are in the name of any religion are actually tarnished because it will all end up the same where the shitcoin is in it and will be replaced by a new project by looking at the bigger hype.

arjunmujay

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I think this project uses the big name of religion to attract attention and investors. So what about investors who are not from that religion? can I buy it? and if it is specifically for people of that religion, I think there is too little hope for it to survive, because in Islam itself, crypto is still looked down upon.

iamaruf

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Are you mad or are you playing emotional? OP trying to bring religious emotion. But he doesn't know that bitcointalker is more brilliant than that OP. Stop trying to promote in this way.

Quote from: Sayeds56 on March 25, 2024, 01:20:41 PM

As a Muslim I share the discomfort and feel uneasy when religious tools are seemingly being used for marketing purpose without substantial differences in the underlying project. Ultimately, as an investors we have to focus on the real life use case and the benefits of the project rather than its religious branding. By providing real world applications, can attract more users, thereby increasing its value organically.

He is trying to promote in this way. He wonders if any Muslims invest in this coin. I am confused about whether he is Muslim or not.

batang_bitcoin

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It obviously targeting the muslims to buy this project. But I don't think that many of them are going to buy when they're also wise into checking the legitimacy of the projects. Not all are into this support even if you name the project after their religion. I know that it's for everybody but you can see on who they are really targeting. Despite that, many of these projects are likely to be gone too soon because we're in the bull run and everyone is active but after this, you'd see most of them die.

bangjoe

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Quote from: Husires on March 27, 2024, 05:15:12 AM

Quote from: bangjoe on March 25, 2024, 11:37:05 AM

Quote from: Husires on March 24, 2024, 06:43:28 AM

Adding religious terms to the currency does not make it valuable.
Without adding links to the project, the smart contract, whether it will be an independent blockchain or a token, you can add a lot of terms, but in the end the project is a scam.

I think islamic coin is not only selling religious features in its marketing but needs to be added with utilities and be able to access many things in the web2 or web3 world in order to increase the value of the project.

Classifying the currency as an Islamic, Christian, Buddhist, or any other religion is wrong. It is correct to say that Bitcoin is compatible with Islamic or Christian provisions, or that Ethereum is not compatible with Islamic law because it contains a religiously prohibited service, such as POS. However, if the algorithm is changed, it will be compatible with Rulings of religion.
the same in fiat money, we do not hear of money allocated to a specific religion, but some cash transactions are prohibited in religions.

I also disagree with the classification, but for religious people it needs to be much smarter because we are only faced with the concept in the end, as an intelligent people it is important to be able to study and know what causes a transaction or system to be prohibited in religion, PoS is indeed prohibited in the system because it is like a deposit in a bank as a liquidity provider and also gets interest from the money we stake or deposit on the network or bank, and the system is very similar. Unlike the case with bitcoin which is a PoW mechanism that requires resources to get it. This is not talking about transactions, I think ethereum can also be allowed if it is only used as a means of buying and selling transactions.
But maybe this Islamic coin project really wants to be completely clean, but we don't know what's inside.

Husires

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Quote from: bangjoe on March 25, 2024, 11:37:05 AM

Quote from: Husires on March 24, 2024, 06:43:28 AM

Adding religious terms to the currency does not make it valuable.
Without adding links to the project, the smart contract, whether it will be an independent blockchain or a token, you can add a lot of terms, but in the end the project is a scam.

I think islamic coin is not only selling religious features in its marketing but needs to be added with utilities and be able to access many things in the web2 or web3 world in order to increase the value of the project.

Classifying the currency as an Islamic, Christian, Buddhist, or any other religion is wrong. It is correct to say that Bitcoin is compatible with Islamic or Christian provisions, or that Ethereum is not compatible with Islamic law because it contains a religiously prohibited service, such as POS. However, if the algorithm is changed, it will be compatible with Rulings of religion.
the same in fiat money, we do not hear of money allocated to a specific religion, but some cash transactions are prohibited in religions.

Quote from: Mokemokk on March 26, 2024, 12:51:20 AM

The reason for the bankruptcy of most banks in the world is dealing with usury. If you read reports about how they analyzed the profits of all Islamic banks against usury, you will find that non-usurious terrorist banks are more selective and stable than others. In fact, they do not have enough money. Just search for this topic and you will see something strange. This is my goal to create an Islamic currency that does not deal with usury.

So why did you put your Bitcoin wallet address?

Essential10

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The Islamcoin is created by naming the religion of the Muslim community. IslamCoin was launched in mid 2022, as per my knowledge. I had heard about this project last years but had no interest in it. The creators of the Islamic coin claim that it is a halal cryptocurrency, meaning it complies with Islamic financial principles. I don't know where such projects will actually end up, but critics may argue that Islamic currency makers are exploiting religious sentiments to attract investors.

Mokemokk

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The reason for the bankruptcy of most banks in the world is dealing with usury. If you read reports about how they analyzed the profits of all Islamic banks against usury, you will find that non-usurious terrorist banks are more selective and stable than others. In fact, they do not have enough money. Just search for this topic and you will see something strange. This is my goal to create an Islamic currency that does not deal with usury.

Sophokles

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A project just trying to take benefits from a name by targetting a community. What is the utility and how the Muslim community or even the industry will be benefited from it. I am not surprised to see that as most of the shit project try to do that. They just wanted to use the emotion of one of the largest community in the world to get users in their project.

Ben Barubal

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Your posting of what you are promoting with these coins is not good. I seem to have heard about this islamcoin for a long time, and it did not succeed as far as I remember. But I'm not going to waste time on that.

I would prefer to choose the top altcoins in the market, the top meme coins, rather than those coins. Sorry, but I think you are wrong to have done this posting of Islamcoin. Although I respect your choice to hold. But you will have a hard time promoting it.

kentrolla

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Looks like one more shit coin using the terms like sharia and all just to attract investment from muslims or generally muslims from gulf region but the way you have mentioned it we got to know it's a shit coin and stop doing shill marketing as people are not so dumb to follow your advice blindly. No business succeeds just by showing religious angle rather people want to see what's in it for them how is it going to help them.

Sayeds56

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Quote from: bangjoe on March 25, 2024, 11:37:05 AM

I personally am a Muslim, although a little offended but what you say is true, and after I read the average scenario in this altcoin project is the same as the other altcoin project, it's just that some of the financial systems are harmonized with religion no more than that, this is good but of course as an investor see the benefits that may be obtained from a project.
Adding religious elements is not necessarily a solution in transactions and market needs in technology that is provided to consumers as an alternative network that can be used and can be relied on.

I think islamic coin is not only selling religious features in its marketing but needs to be added with utilities and be able to access many things in the web2 or web3 world in order to increase the value of the project.

As a Muslim I share the discomfort and feel uneasy when religious tools are seemingly being used for marketing purpose without substantial differences in the underlying project. Ultimately, as an investors we have to focus on the real life use case and the benefits of the project rather than its religious branding. By providing real world applications, can attract more users, thereby increasing its value organically.

bangjoe

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Quote from: Husires on March 24, 2024, 06:43:28 AM

Adding religious terms to the currency does not make it valuable.
Without adding links to the project, the smart contract, whether it will be an independent blockchain or a token, you can add a lot of terms, but in the end the project is a scam.

I personally am a Muslim, although a little offended but what you say is true, and after I read the average scenario in this altcoin project is the same as the other altcoin project, it's just that some of the financial systems are harmonized with religion no more than that, this is good but of course as an investor see the benefits that may be obtained from a project.
Adding religious elements is not necessarily a solution in transactions and market needs in technology that is provided to consumers as an alternative network that can be used and can be relied on.

I think islamic coin is not only selling religious features in its marketing but needs to be added with utilities and be able to access many things in the web2 or web3 world in order to increase the value of the project.

Sayeds56

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Quote from: Hispo on March 24, 2024, 06:13:12 PM

If the scholars and authorities of the Islamic religion decide using this cryptocurrency is halal then, what would be the difference from using Bitcoin, Ethereum, Litecoin or any other digital asset? The only obvious requirement would be to have anything to do with gambling, alcohol or anything related to what is directly haram for muslins. Not even mentioning how people who are of other religions won't feel attracted to this currency.
I don't want to have negative about this project, but to me it would seem OP just wants to pump this topic in order to take some advantage of the current state of the market.

I am not a religious scholar, however to the best of my knowledge/information, there is no problem in investing in crypto currencies such as Bitcoin and Etherem , provided your invest your own money without borrowing from banks or other financial institutions where element of interest is involved. Additionally, participating in platforms such as gambling or casino doesn't seems to align with ethical or religious principles.

Regarding, Islamic coin if it adheres to Islamic sharia principles, there is no issue in investing in it.

Wakate

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I have heard about this project many times although it looks interesting investing in it but as the name implies, it is a religious coin and i don't think many of the whales would wants to put there in there because its just like it's meant for the Muslim alone and that is not going to bring enough liquidity for investors to make good profits. I know so many people joined the airdrops and got some tokens but it might not bring much profits when it's come to liquidity. This is not a bad project but a good one that can be hold depending on the team to keep doing marketing to promote the community so that more investors can join and accumulate their own holdings.

avikz

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Religious affiliation does not make a coin valuable! Calling religious sentiment in a business is a bad idea. Also this is not the first Islamic coin as far as I know.

Probably another shitcoin in the making! Because there's nothing unique about this project apart from calling our a specific religion group and using their sentiment to sell it. Nothing technological about it!

Also you never know who is in the background of this project and to which group their funding will go to. Better to stay out of it to avoid future legal hassles.

Kelward

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Quote from: Husires on March 24, 2024, 06:43:28 AM

Adding religious terms to the currency does not make it valuable.
Without adding links to the project, the smart contract, whether it will be an independent blockchain or a token, you can add a lot of terms, but in the end the project is a scam.

I'm very cautious when dealing with anything that's affiliated to any religion, so I don't unintentionally offend the believers, and it's also wrong if anybody will use the name of any religion to scam people, the OP clearly didn't add any link to further convince us that the project is legit. I think that the crypto space has gone beyond using religious names or the names of influencial people to get investors to invest in a project, because every experienced crypto investor will research first and not get carried by the name of a project. GxSTxV, has researched and claimed that the wallet address in the OP, actually belongs to the OP, not for charity purpose, if it's so them the OP is a scammer, unless he can prove that it's a false allegation

GxSTxV

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Quote from: Mokemokk on March 24, 2024, 12:42:39 AM

4. **Donations and Zakat:** IslamCoin facilitates receiving donations and zakat through the designated wallet address "TCe1raXGoLREFLEtSc3Hwkf9mxfU95rHmN," ensuring transparency and reliability in the use of these funds.

If you are talking about the IslamiCoin finance project then they already launched, beside that, it’s not a coin but just a token that didn’t being anything to the investors, how can a token project promote a religion? Offering tokens as airdrop or helping the project by investing in it.

That wallet you shared belongs to you only as there is no trace on internet of any projects with this name that are asking for donations, claiming transparency while you can’t even provide a link to this specific project?

btc78

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Quote from: Husires on March 24, 2024, 06:43:28 AM

Adding religious terms to the currency does not make it valuable.
Without adding links to the project, the smart contract, whether it will be an independent blockchain or a token, you can add a lot of terms, but in the end the project is a scam.

I have heard of such project before and like I said before it might not become as successful as everyone might expect it to be. While it might be helpful to those in the community, the rest of the world will be excluded which I believe could be one of the reasons for hindrance of growth.

Besides religion and a strong community, there really is no unique or special function this coin has.

Topic: IslamCoin Project (Read 238 times)