Bitcoin Forum

Prominent Muslim scholars and financial advisors released a white paper declaring Ethereum “halal,” or permissible, according to Islamic Sharia law. The clarity for Muslim purchasers may stimulate additional demand for Ether.
source :
https://cryptoslate.com/ethereum-halal-muslim-scholars-eth-demand

i hope this news will be good for eth price, and make the price grow more than $200 again

I don't think it will have much effect on price, but I do think this is good news because it provides further evidence that ETH (and crypto in general) is gaining some traction in the external world. Really for me any news about crypto being assessed by external bodies counts as positive news on the long road to mainstream adoption.

I'm not well educated about the law of the Muslims but if that means permission for them, I guess those Muslim investors that were skeptic before with ethereum or with cryptocurrencies because of that law can now have a peaceful mind and can start pursuing ethereum or crypto investing.
It's not about the price for me but it's about the possible adoption that it can bring.

Excerpt from the article:

But how does Ethereum adhere to Sharia law? The cryptocurrency is permissionless as far as I can tell. Different beliefs and ideologies can nest successfully on the Blockchain

It this why it is considered halal?

Maybe any news especially good news must be appreciated. Usually although not much, it can help to increase price of the coin. Maybe if ETH declared as "halal" coin, means people who not really agree with crypto because doubt if it is good  or not or maybe people who think crypto is gambling scheme can know if cryptocurrency itself is almost same with other currencies. Only in digital way.

This is a good news indeed but I don't see that will give Ethereum a big boost. It has suffered a lot this year and I'm not seeing any catalyst, except perhaps for version 2.0 that can bring some needed relieved on ethereum.

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Of course anyone can appreciate this news specially for our Muslim brothers out there who are also into crypto. But to stimulate the market? I think for ethereum to really go back, it needed bitcoin market to flourish first and then ride on its bull run next year.

News like this should be widely disseminated. So there will be a lot of people who know and hope to add investors to re-invest in Ethereum. If you look at the market conditions now the price of Bitcoin seems stable in a few weeks. This could be a good opportunity for Ethereum back pumping.

Ethereum has great potential and should be utilized by developers. Developers should be more actively providing information about Ethereum. Especially for positive news, so people also know that this coin continues to be active.

This is just a small organization and there is a small need for buying ETH, it does not even contribute too much in the volume of ETH.
we are currently waiting for vitalik's ETH 2.0 in 2020. hope he will talk about this in a positive way soon, its price will rise sharply.

I have already read a lot of news regarding Islam is supporting Crypto but it doesn't end with good news of prosperity result. Is just like what is the difference between the number of Muslim against the number of Christians that supporting cryptos? For me its still the same as Ethereum platform was already supported by majority of the Altcoins but still Ethereum market is still in difficult. Anyway, this news is better than spreading FUD in which it will just make the Crypto market to become more unhealthy.

Most of the outside news is of interest to the public and this is what has caused the crypto community to have grown rapidly in recent times. In my opinion the investment needs to be considered carefully because at this time a lot of big coins are in big correction and ETH is also among the coins with a big drop in August. I personally encourage everyone to choose a safe solution for investing and if you trust this market, consider investing in ETH because the current price is very cheap.

that will not give a huge impact on the price of ethereum. ICO is the main factor of ethereum has been losing a lot of its demand and im thinking about the declaration of ethereum being halal will not give a lot of pressure to the market.
In fact, the demand from ico is the main factor in 2017 that was pushed the price of ethereum to the 1k dollars for each ethereum.
At that year (2017) ICO was giving a huge demand to the ethereum just like million ethereums got drowned to from the market to participate in the EOS sale.

Even though this is good news, I don't think it will have a big impact on ethereum prices. with this news possible for Muslims, ethereum is considered halal. but for those on the trader, ethereum is still in the red zone and it's not good to buy.

If it is really like what is published of course this is very good news for Muslims like us, because, in the last few months it often happens between halal and forbidden laws against altcoin both ethereum and others, I hope with news like this, it will reduce the negative assessment by lay people who often asses' crypto in Islamic forbidden.

Even before this was being published,Muslims in crypto had already using and investing in crypto and not because this was considered as “Halal”it will have impact because the people that may consider this declaration are the Muslims that already operating here

But not unless these will be appreciated by many Muslims worldwide and may present to their family and friends [as it was already considered as halal)then the impact will be indeed favorable to ethereum and its holders

This kind of news doesn't make ETH grow, even if this was being published Muslims around the world had been using it because ETH is not owned by a single country. This is the difference between cryptocurrency and fiat, seeing such differences already is a sign already on how useful cryptocurrency in most of the people.

This is what we need to hear now,the reaction of Muslim community here in crypto because for all people they are the one who’s affected and will decide in which is right to do
To add investments since declared as legal and Religiously accepted .
And your right mate there are some law issues lately and clarification from the higher ups will bring another fortune for them and crypt as well

Very good news, but Ethereum still needs some time, development and better market conditions to return. Good news will not always affect the price but still benefit the community

At first I though Halal certitication does only be implied with foods and I cant even believe on what I'm reading here that muslims considered ETH or halal to them.
I wont say that this doesn't have effect yet we know that some muslims are might multi-millionaires or even billionaires specially who do reside on Arab countries.
We know the capability of some of them when it comes to financial.This might not be a sparking news to others but for some when it comes to fundamentals this one is
considered to be good.Demands will vary and it will depend on how open minded they can be when it comes to crypto but since its already being considered then they are
really heading that way.

the trend of ethereum in Q2-Q3 2019 has experienced a lot of decline even due to the IEO The performance of ethereum does not have much impact on price increases. and also the continuing price decline is actually a pretty good thing for ethereum

This is definitely very good news for ethereum.
with a large and influential organization in addition to a well-known Islamic financial advisor, I think their organization will soon spread the news about ethereum soon and create a great source of ETH buying.

from ethereum trading volume it has the possibility that the demand from ethereum has weakened, maybe this also has no good news anymore that could lure investors or whales to buy ethereum.

I am sorry to say, the declaration of support for ethereum will only make ethereum more subjected to the use of it for fraudulent acts, especially the extremist of Islam, at least those people will want to know what ethereum is now and may think of using it to launder money, the things is that it may create demand for ethereum, but the price of ethereum will still never stabilize because whether money that comes as a result of this declaration will simply just be a touch and go money.

As in money that will enter the market now and then leave immediately without the third party even living 1 cent in it, so of what use is this news to me, it still would not encourage the government about cryptocurrency and for them to legalize and regulate it.

This might have positive reaction to digital currencies and not ETH alone but it might not necessary make the price change upward as Bitcoin is still deeping down, ETH always follow suite, so market might not necessarily react to this

Even without this news, it's easy to expect ETH to reach $200 again as we have already reach that this year and the price is just close to $200.
Now that Bitcoin is starting to look good going uptrend, I think when BTC will get back to $10,000 range, we can expect ETH to again trade at $200.

It's just a matter of time, Bitcoin drop but now again starting to climb back and this is a good sign as bearish people expected BTC to continue falling down to below $9K. This year was a struggle for ETH as it's one of the top altcoins that hasn't shown a good recovery rate yet.

I guess by educating us first with what adheres on Sharia law that they wanted to adapt Ethereum that will be clearer to us by opening this thread. How can it affect the demand of Ethereum right now? Few days has already passed after that article yet the Ethereum price is at that same level as it was.

things haven't fully improved, only a few small movements occur. but what we hope for is that ETH or BTC does experience better growth. ETH demand may improve, but when BTC is also in a cheap price, demand for BTC can quickly increase.

I really though "halal" only applies to food they are allowed to eat which is related to Islam. I don't think they need to declare anything to be "halal" inorder for them to invest to this digital currency because its online product anyway. They could just distinguish ETHER as investment like gold which are a lot in middle east.  Anyway, if it can add the demands then be it, wish will help the price moon.

Are those prominent scholars and financial advisers are enough to justify to all Muslims about that declaration of ethereum being “Halal”because I believe that this is a big points for the number 2 ranking currency to have another good sets of investors if this issue will be respected by the whole Muslim community worldwide specially those Muslims that has second thoughts about the legitimacy of crypto currencies.anyway Looking forward to the effect of this if they are growth in the next months for ETH

seems that news can't make the price of ethereum rising in good movements my friend
the demands is not huge enough to push the price up,,
i think we should wait a little bit longer, for the next waves on eth buddy

this news will not give a lot of impact on eth price
but you don't have to be worry, a lot of good news will coming on ethereum in the near time
and i believe ethereum will grow more than $200 mate

Do you think some Muslims didn't buy into Ehereum because is against Sharia law or what. I believe thre are some Ethereum developers that are Muslim, this won't be a driver for Ethereum. The demand for Ethereum will come when the scaling issue is resolved and we have a killer Dapps launched on it

I really doubt its going to have much of an effect there considering that other factors like country nature of the market now Maybe if market improves but still its not going to make that much impact

I dont believe you can put scholars and religion in the same sentence. Are thsi teh same scholars that dont believe in evolution? The same that believe that world was build in 7 days?  LOL  Let them first figure those two things out and leave block chains for others to judge.

maybe the impact will not huge mate
because the conditions on crypto market still on consolidations
but, if the news coming in the bull market, i believe eth price will fly  ;)

People who knew about cryptos already knows that its acceptable in Islam so it is not going to increase any demand unless he have lot of people to get inspired from him as non crypto investor until.

But why only to ethereum? All cryptos are prohibited! ???

I am not sure what is a Muslim scholar, what does he know about technology and finance. If he is talking about some made up history and fiction then i can very well understand he is an expert on that but nothing can change a financial market, i am not even sure how religion works but if people need his approval to invest into something then it is the call of the investor. I do not see any change in ETH as the prime days of it are over.

One news is not enough to give Ethereum impact or a boost, there are many factors that needs to come together to give Ethereum a boost, and one of this is what is happening here already, it may not show great impact now, but it would still have its own percentage impact on the price of bitcoin as adoption increases through it.

Ethereum is showing sign of weakness now because the ico sector is really draining it as it is not moving like it used to move in the past, the product of Ethereum is their blockchain, and since ico started going bad, Ethereum has been losing their relevance, and other chain competitors are coming up, so if we see anything right now that could encourage the use of Ethereum, I think we should try and accept it to a length.

Probably this guy were "bought"  into supporting Ethereum or he had been buying ETH for sometime now and have bought enough stash and thinks that it is time to rake profit from it by announcing to the world that it is Halal approved..    I wonder what is in it and Halal.  Why not Bitcoin or other cryptocurrency?  Sound like more as shilling to me or some hype.  But sadly it seems it did not go as they planned since ETH price did not go up as what they had expected.

Well this is not the first "halal" cryptocurrency. I don't think this could really affect the prices.

Just check what happened to Stellar - XLM since it was declared halal in July of 2018.

https://cointelegraph.com/news/stellar-becomes-first-sharia-certified-blockchain-for-payments-and-asset-tokenization
https://www.stellar.org/blog/stellar-receives-sharia-compliance-certification-transfers-tokenization/

https://i.postimg.cc/wBHMnZCs/halal1.jpg

ETH will still tend to increase in the near future as this is the best long-term investment in this market and their technology is still developing, so the price increase will only be a matter of time. During the last 2 months, ETH has remained at $170 to $180 and not much volatility but I believe ETH will soon have a new price this year. I would love to invest in ETH because of the low cost of transaction and can invest in IEO anytime if I want

This information I think has no effect on Ethereum. I see that the development of Ethereum or crypto is not influenced by religion. Before the year 2017, the market price was also very low. And after experiencing success in 2017, the crypto market made sense when it declined.

The end of this year can be predicted if Ethereum can return successfully. I noticed that the Altcoin season was not yet present and hope to happen at the end of the year 2019.

yes, that's good news but it doesn't have a significant impact on the increase in Ethreum prices, because I think before the article was published, many Muslims had invested in Ethereum and other Cryptocurrency.

Not still a sure thing though and i dont know why people do really make this a big discussion yet even its already being declared to be "halal" will give out some effects into its price. We know that Muslims do have their own religious beliefs but considering on numbers even they do all plan to invest,i dont see a big jump on the price but at least we are seeing some recognition and adoption here.It might not directly goes with BTC but at least we are talking up some crypto on here and possibly later on they would reconsider btc into their list.For now on this bearish market it is really hard to jump in the price.

As I believe so and I don't see any relevant factors of the religious group for crypto demand. The declining trend of Ethereum is not yet alarming for us cause we are still in good, not unless we surpass below $100.

I supposed to think that ethereum isn't great as of before and also it's market demand knowing the fact that some new projects today never used ETH as their baseline. It has something to think that the ICO era is ended already and we are now in IEO's. These make ETH price dump quickly as we think of.

yes it can help ethereum to make progress as long there's a demands in the market. . And in my opinion once that group start accumulating,  for sure those the big investor will demand a huge amount of eth also . because you know its a good news and soon or later ethereum will grow more without any sign.   so definitely no one will let this  opportunity to miss again.  So i suggest don't expect to much OP because once big investors are within the area there's always a possibility that it will drop immediately after progressing  because that how they drove the market nowadays since the bearish season occurred. So be aware investing and stop assuming to much.

Ethereum got bigger demands but the problem is there are so many scam company who use the mainnet and that can cause a dump of ethereum price when scampany dump there tokens. And it's great to have a new addition since it could bring a strong foundation for ethereum to make the price pretty solid and let's all see if the price for this year will remain like this or it will pump since ethereum is on rough way in this market situation.

well there are yoo many muslims around the world this news might help ETH adoption in muslims religion .

ethereum still can rise. whether on media sentiment as it is now or not. but I am sure we will see sentiment from product updates that will later make the ethereum market demand will increase. Even though it's not yet, keep on hoping.

We have yet to see the impact of this declaration to Ethereum's price, if it has. It has been months already since this news broke out and Ethereum is still as shaky as in the past months, always in attempt to put $200 a value of the past. If the Arab nations will be more developed in terms of cryptocurrency sooner or later, Ethereum will probably benefit from this declaration. But if this declaration will be extending to the other altcoins as well, then the competition will remain the same and there is no more special impact of it to Ethereum's price.

we are hoping even this market give too much lost for me i still believe it will recover .

Until now looks like that sort of news won't affect the market anymore. The market grows stably on its demand and not with those kind of news anymore.
Although being certified and allowed by the Sharia Law is good news. However, the effect can't be controlled by it and we just can't expect anymore a quick impact to it. A month has passed and it didn't increase that much.

It simply means because the community had learned already, not be like with the old-time where when they heard bad news they easily get into panicking and selling their coins immediately. This is a big sort of development and we have matured already for this kind of artwork. Only we need now is patient and self-confidence towards crypto as it will help for its fast recovery.

for this request from ethereum I see not too much because maybe ethereum has a very large total supply of coins so as to make requests become less influential on ethereum, I suggest you be careful when trading on ethereum.

Always be careful when trading on any coins, ETH is still the best despite of the volume on the supply. We saw the decline on ETH because of IEO but for sure the developer of ETH will think for more additional to ETH platform and that can increase the demand. Also consider the market trend of bitcoin because it affects all altcoins.

I don't see any relevance of IEO's over ETH maybe what you mean is ICO's, and as you mentioned, ETH have a huge supplies and it's needed to  assess before you allow yourself to invest inside this project. It should take into considerations the supplies and demands and how the community will bring support from this project.This shared information only showing that there are companies / business that are willing to take part using ETH system, and if more to come it will be a good sign for this project to reach better value.

Nah, with the good news the community isn't reacting that much but while with the bad news most of them until now are reacting negatively. The community has learned but there's still a lot that never learned from it.
As an individual, I don't react for both things but the effect really isn't surprising anymore whether with good or bad news.

This is not about a lot of money or not from a particular religion, and about the news it will be very possible to attract more large investors from various circles or individuals more broadly. But indeed, with positive news alone it is still not enough for crypto and in this case ethereum to increase its price in the near future, because to make a large increase requires at least a long time and process of many factors until finally the bullish trend occurs.

Well, I hope the very rich muslims are interested to invest in crypto. But it is going to be very hard to convince them. Crypto is very volatile. Ethereum is not a special coin so it is as volatile as the rest. This is a downside and certainly discouraging to them. These very rich muslims are usually building up their massive wealth from their oil business. And compared to crypto, the prices of oil do not just plunge in a matter of hours and very sudden. Crypto is riskier than probably most of their businesses, so this declaration do not necessarily mean a spike in ETH prices. It may bring good though in the long run when crypto is more mainstream than today.

It has to know that some of them won't actually risk their money for a thing that they couldn't get assurance. We are not just pointing particularly to our Muslim's brother cause it also for Christian people. They will live into oil refinery cause there is a big money on there and what it actually they saw is that they could generate more profit than of considering crypto instead.  And I really don't feel it will affect the ETH market demand or any collaboration made since it was in two different things.

I would never ever consider that the fact that in the Muslim world, Ethereum is the so-called "halal", something that can be dealt with, affects the price of this cryptocurrency. ETH does not depend on it. However, it was curious to learn that Muslim countries think that since Ethereum is the so-called utility token that is used to operate the network, the Sharia laws on currency do not apply to it.

yes, indeed there is no Islamic religious law that binds crypto and moreover about network management I don't think there will be any contradiction at all. unless it's focused on a gambling or trading platform, it might have different influences and perceptions about crypto.
whether it affects the ETH request or not, clearly good news is awaited to increase demand.

A little good news might add interest in buying ETH by consumers, and also the event that will be held later this month in Osaka, hopefully it can make good news and increase demand for ETH.
but the most important thing is the lack of an ico scam done under ETH that will make the name ETH be good.

a lot of good news seems, but why not offset by an improved market. that is now an obstacle for ETH and other assets to increase its value. Even though there is a lot of good news, it cannot influence the demand that occurs in the market. It seems that it needs something really big to be able to move this market with a large volume.

I have already seen that cryptocurrency prices depend not only on project developers and investors, but also on speculators on exchanges who play their game for their own benefit.  In addition, I very much hope that Ethereum will no longer depend on the price of Bitcoin, which will allow it to independently develop in the cryptocurrency market.

It's normal that this ridiculous news has no effect on price. because Muslims do not care about such laws. I also know that the majority of Muslims today are not subject to the Sharia law and are against them. That's why it's really unnecessary news

Wow is very impressive sounds good, yeah it a hundred percent that isnews can help to the price increase of the etheruem in the market,hoping this thestarting point for the ethereum goes back fronpm their price expensivity.

This is is great new for Ethereum and can be potentially of huge proportions, considering that "there are 1.8 billion Muslim adherents around the globe this decision could have material ramifications on the demand for ETH."

Hopefully this is true and more people be aware of this news, starting with this post.

Well, it is meant to serve as great news, but we have to look at the proportion of people that where available then when it was declared permissible, if the decision was just between 10 or 50 people, I don’t see in any way this can affect Ethereum value without us still making lots of awareness, it is fine that it has been declared permissible, but there is still lots of works to be done by Ethereum in this area.

Ethereum needs to make their platform very safe and stop scaring people away from the cryptocurrency market. Imagine that after declaring it permissible, a Muslim fellow comes to check it out, and only to find out on news that most of the projects are scam, there is need for reduction in the level of bad news that is being circulated round the internet.

I think the condition of ethereum demand in the market still does not affect the price because the supply of ethereum is very much and demand is not too much so that this problem makes ethereum prices not too influential with demand.

Good news can be a demand for ethereum, adding people's interest to buy ETH.
But the Ethereum platform is very heavily used project ICO using its smart-contract.
Hopefully, there is no scam anymore under this platform. It causes bad Ethereum name of the investor image.

Ethereum have opened code, so everyone can use it. The problem of ICO scams was because people have been investing money without verification of project. I hope that now people are more smart and will not put money to scammers pockets.

Today i read that ZCash is moving on Ethereum platform and everyday more projects is talking about ETH as the platform that want use. I have no doubts, that demand will be growing.

I hardly doubt that it would help ETH to increase its demand or price. Right now all ETH users are waiting for the next update that should see the light at the beginning of 2020 and if ETH 2.0 would not fix things, nothing would.

I read a lot of articles and islami sharia based journal where more details. Yeah, most of the prominent muslim grand mufti say that crypto-currency is halal not only Ethereum. But there are a lot of controversy it’s halal or haram. Some scholars going against cryptocurrency they think it’s totally haram. Definitely this is good impacts for the muslim communities those are involved with crypto space. For this news i don't think ETH price will be grow.           

I am not sure why you have taken religious factors while discussing about the demand of ethereum. Most of the time people will be go towards the best coin with their knowledge only not with the religious facts.
Then I personally prefer to use the ethereum only.

before the crypto was determined halal or not Muslims have been in this market for such a long time.
for me while there are more benefits than bad then it's worth using.
as well as crypto which for me has many benefits.

For now Ethereum really has such a big challenge. In 2017 it could be said to be a "Highest" period for Ethereum because in that year all ICO projects or others were very successful at the time of funding and there were not yet many scammers. this period also resulted in a high price increase for ethereum. Until then many people have commented that is quite positive. however, in 2018 - 2019, at the end of this year, ethereum has experienced a decline in popularity due to many failed projects and also nothing new for ethereum for cryptocurrency.