Bitcoin Forum

Haram means illegal, I don't see any special and logical reason behind the bitcoin is illegal. Day by day it's gaining popularity among the people who engage in virtual work. So i 100% believe that its is totally contradict the people idea about haram of bitcoin because its 100% halal (legal).

Bitcoin is a currency.
Dollar is a currency.
Pound is a currency.
Euro is a currency.
All other fiats are currency...

Dollar, Pound, Euro and all others currencies are Haram?

I leave you to justify your statement yourself.

how about mining ?
it's haram to ?

i want starting mining bitcoin, but idk if that mining haram to

Think about gold miners, coal miners. You are investing your labour, money to get a good return. If they are not haram then bitcoin mining is not haram too.

You are investing your energy (electricity, like labour in a fine field), money (buying hardware) to get a good return.

So, it does not meet the definition of haram. It's a business like everything else.

Correct me if i am wrong but "haram" refers to something forbidden by muslim religion. i.e it is considered "haram" to drink alcohol/smoke.

Why would Bitcoin possibly be considered haram?

Then again, receiving interest is also considered haram by muslim religion so i guess their might be some tricky implication if you REALLY wanted there to be.

My 2 cents in this matter ; don't ask, just do. If you are interested in Bitcoin, do not hold back.

There is no consensus yet, for each party's theory and argument.
1. The first party "Not allowed": It’s like "Haram," but it means that there are reasons for prevention such as High volatility, no profit guarantee. [Islamic Sharia sanctifies money and thus prevents anything that leads to wasting money or gambling]
2. The second party "unknown": This is the rule of the Bitcoin when most Muslim scholars.
Since There is no consensus among all Muslim scholars."Religious fatwa" It is up to the laws of states/countries.

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Islam only recognizes the origins/currencies associated with gold or silver.

I don't think the opinions of people here matter as much as these opinions:

https://www.youtube.com/watch?v=WS1erx_eeXA
https://www.youtube.com/watch?v=Zi6iAfrIcpA
https://www.youtube.com/watch?v=KeSTMFkFonI

I do not see any reason for Bitcoin to be intrinsically haram, after it depends on the usage of course.

Actually, it is also blooming in some muslim countries such as Indonesia where they started an Islamic microfinance fund using different crypto including BTC.

I think it's not haram, though many columnists said that Bitcoin is haram because we can't touch it, we can't see it. We just see in virtually, That's why it is Haram. But Many columnists also told that Bitcoin is not haram, it is not harmful to anyone, It is spoiling the environment by its hash or mining cost, But This bitcoin is helping to build many people's life. So, it is not haram. And, I agree with the last opinion.

I also do believe that cryptocurrencies have some potential, and they can be casually used in the future. Not sure how, but I feel like we should give it a chance.

Some country regulated bitcoin. But in many country it is legal . It depends which country you staying .

https://www.coinvestasia.com/single-post/2018/03/26/CRYPTOCURRENCY-G20-RESULTS

If you are looking for shariah answer you better ask ulama and not here, you should also check the ulama religious background and his credibility regarding this matter.

Though the Dollar, British pound are not haram/illegal, there is quite good reason for that. First reason is US dollar,  british Pound are recognized by their respective country as a legal currency. Same is true for currency supported by other countries. Every country has their own currency. This is where bitcoin or for that matter cryptocurrency differ from other. These are not backed up by other govts(mostly). Many of them find it encroaching countries right to control economy.

To sum up, in purest sense bitcoin or cryptocurrency is not haram/illegal. Its legality totally depends on country in which you reside in.

if that so, i will starting mining bitcoin.

thanks

Well bitcoin is like any other currencies such as USD, KRW, EUR, JPY and other fiat currencies who are used in everyday lives. For some it can be illegal because there are no protections for either the consumer or the merchant, and that its use as payment is completely discretionary like in silkroad which is used as payment system for doing illegal activities called "Black Market."

great thoughts, it is up to our activities whether our activities are illegal or legal....

bitcoin is just a currency like all other currencies. there is no any rocket science to understand about its functioning it is use to transfer the funds from one place to another place without involving any third party. it is being traded like USD and GDP it is pure halal

this is a true FUD. no one says bitcoin is haram. I means no fatwa (decision), there are only opinions. there are active boards for moslems counties (Arabic, Turkish, Indonesian) in this forum, those are enough to know that no haram for bitcoin.

Bitcoin was declared halal I believe.

Here is a link to an article about this Islamic Jurisprudence descision: https://www.ccn.com/bitcoin-declared-compliant-with-sharia-law-price-surges/

I dont think so. Its just a another form of investment. Making money from a right way and used in a right way shouldnt be haram.

We have different views, different culture and inhabit in different places. It means there are particular area that bitcoin is not recognized it means not totally illegal it is just not recognized. Maybe in due time the government of that place will make bitcoin recognized.
Illegal and not recognized is different. Illegal have the equivalent punishment, while not recognized means it can be stagnant, not active, no sense for awhile.

This requires serious discussion from religious leaders, if you ask the opinions of people in this forum who are more pro-proof of crypto currency I think this is unfair. Must go through various weighing and further research especially effects to the economy according to religion (islam)

No! There is nothing wrong with using Bitcoin as far as you are using it for the legal activities. It is just a currency like Dollar, Euro, in fact, the best part of using it that you control your own money and hence you decide what you should do with it and no third party can interfere in your decision. Governments might push the propaganda of not using crypto but they want to control the things from our day to day life and crypto has a different philosophy of decentralization that gives us the exclusive power to control our wealth.

I have not heard about anything regarding Bitcoin been Haram. It is an investment. It caan make you rich or it can bring you on the roads. There is no fixed amount that it will bring to you. The rest is up to you.