Topic: Staking is not for Muslims - page 5. (Read 1206 times)

As Muslims who adhere to the teachings of their religion, they will always comply with legal provisions that are clearly prohibited, in this case usury. Even though there are still violators, it's his business with his god.

Thank you for the tolerance, even though we here have differences in belief, but mutual respect will always lead to lasting peace.

Nice explanation, and I truly agree with that, if you are a real muslim, you should abide the law and live with peace. However, I do believe that there are muslims who are violating this, so hopefully they'll realize that the law is very important and it should be followed.

I'm not a muslim and this is not against in our teaching, but I will respect my muslim brothers here.

That's right, we just need tolerance and mutual respect. there is no need to go too deeply into the realm of religious law if you do not fully acknowledge it. how much better about usury or not, one must ask an expert in that field. here we do not want to debate syara law. then it would be beautiful when all respected every difference of viewpoint and carried out the law based on belief.
I am a Muslim, but for the category in law related to principles and fundamentals, I don't think it needs to be brought into the realm of crypto. Even with the same title, namely transactions, but all have laws that always provide relief. the law does not all look haram and prohibited. sometimes we forget trivial things even though they are clearly haram, but we are always busy with things that look big without even glancing at the activities around us.

Muslims are a group of people who adhere to a certain religion and in this case it is aimed at Islam, so these Muslims are not suitable to join the staking program because it is considered usury, and usury in Islamic law is haram, so the OP prohibits Muslims from joining the staking program does not approach staking because it is usury in Islamic law.

staking you mean ? because stacking has also its different meaning and why is interest forbidden and dividends arent when i think both are the same because you are being paid by a money but few members already explain the staking properly and its not like a lending that you are earning an interest but its a clean profit you get so staking shouldnt be illegal for muslims but most muslims are already rich so its not really a big deal for them if some earning oppurtunities are excluded .

Yeah I am the stupid, and some muslim say that crypto itself is haram then why talking about the staking anyway.

What is Muslims?

I read some article saying that borrowing or lending with interest is a sin.

here it is https://www.nytimes.com/2005/08/07/realestate/for-muslims-loans-for-the-conscience.html


Guess it's really a sin or a tradition, but I believe it's not a mortal sin though.

Is that really the rules In muslim culture ? you are not allowed to Lend with interest ? anyway lets look at the brighter side.

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This is not the same in Interest in Fiat because here you are not lending someone instead you are just letting them use your funds as what like Business is running.

So in time that the Business get profit you as capitalist will gain your percentage so how come that this is an interest in Fiat?

you should look in the real side of this and not just in what you are thinking.

If there's no guarantee for the return of your money and that means you are also speculating it. If you guys keep the debate about this and it might need 100 years or even more to draw the conclusion.
Anyone has their own opinion about that.

Stacking is haram for Muslims. Stacking follows a kind of bank interest rules. Interest is forbidden for Muslims. However, if a project pays dividends, it is halal. But if there is a loss, he has to take his share.

No wonder. You are reading the dialogue of users, most of whom have no knowledge of Islamic finance.
There is no subjective interpretation in Islam. I wrote above what are the minimum requirements you need to have in order to answer questions and draw conclusions.
If you read the opinions of Islamic scholars, then for each conclusion you will find a list of proofs that this scholar was guided by.
To become a scientist, you have to study all your life.
The Islamic financial system is the most progressive in the world, if you compare it with other religious systems, you will not find detailed interpretations in them.

I don't know much of Muslim laws in the field of finance. We have a small business, buying and selling of cosmetic products, my sister-in-law invested money on us and they are gaining profits, dividends every month. The thing is they can get their money back full, and I think it's nearly same as staking. By the way her (in-laws) husband had degrees of Muslim studies and he knows about this. So I guess their are certain rules, and we must not judge on one-sided basis, showing proofs are also welcome as their are many Muslim brothers and sisters fond of crypto currencies, and I know some of them personally.

You know what is confusing to me? It is that you guys are trying to look at all things using the lens of religion. What if Islam doesn't really have anything to say about PoS? What if Islam is completely blind about staking? What if Islam really doesn't have instructions and rules on all things in life, especially ones which involve the latest financial technologies?

I think you are all subjectively interpreting things and forcing them to fit to your religious beliefs.

Some say crypto is also not halal? what do you think ?

Yes, you are you just posted

 I am not a Muslim but it will take one knowledgeable in Quran like an Imam for an interpretation of why staking is not good for our Muslim brothers, this is a sensitive issue if you are an Imam and you have an article written by one knowledgeable in Muslim law that clearly states that then I will rest my case.

To publish Ijtihaad you need to be a famous Islamic scholar and have a Sharia education. So I asked about your education.

"1.Therefore, knowledge of the Arabic language with all its grammatical and lexical "subtleties" was the first condition for ijtihad

2.The second condition is knowledge of the Koran by heart, the ability to interpret it grammatically and in meaning, knowledge of all the circumstances of the appearance of both whole suras and individual verses.

3.The third condition is knowledge of the sunnah and commentaries to it with knowledge of hadiths (up to 3 thousand) by heart.

4.The fourth condition is knowledge of the circumstances of the addition of a concordant opinion and discrepancy (ichtilaf) on the main issues of fiqh.

5.Fifth - possession of the method of interpreting legal materials"

sourse

If you do not meet these criteria, then you cannot publish Ijtihaad.

I agree that staking on the crypto exchange is haram, because your income is not justified and you do not do any work.
And about POS mining( where it is necessary to stake coins), I have no final opinion. One of the arguments is that the miner's income is justified because it does the job.
I have no Islamic education, so these are my thoughts, which may be wrong.

If you are a Sharia scholar, then expand the topic completely.

^ Definitely right buddy, our brothers, and sisters think this is a part of gambling which is really prohibited in the Islam culture.
There is a long debuted or argument with cryptocurrencies on Islam, they did not accept this as an investment because, for them, this is most likely a part of gambling because you are risking your money. I am half Muslim but I am still engaged in crypto, probably if there is someone who will ask me, I will not reveal that I investing and staking or even using BTC.

You're looking at it as similar to the banks but coming from you, it's about being paid by being a validator. You get money from being a validator, not being a lender.
Similar isn't entirely the same as what you say but just look like but the process is different from what you're speculating.

Gambling, porn and usury are the most hated things in Islam and of course those of us who are unfamiliar with Islamic law are certainly not allowed to say something that is not really an expert in that matter, so it is better for us to do what we think is right and leaving what has been forbidden, indeed in Islam it is forbidden to give loans by asking for rewards (interest), but we should indeed wait for the fatwas issued by scholars who are experts in Islamic law, including about crypto staking today.