Bitcoin is forbidden for Muslims

[heryalfian1981]

Actually Islam never forbids Bitcoin trade for Muslims, provided that the trade is not in the form of a ponzi scheme and does not hurt others, and the trade is mutually beneficial not a disadvantage to one side. In view of Islam bitcoin is not considered gambling as long as the trading place of P2P is not manipulated by a company.

[gtx1060aa]

Very strange interpretation, excitement and competent trade in the market with the purpose to earn even more capital than you have at the moment

[MakeMoneyBtc]

Honestly I dont really care about this because this doesn't influence in any way the bitcoin evolution and price. I heard about Muslims but I dont know about their rules. I think this is just a religious rule, not a governmental law so it cant influence at all bitcoin. So, I consider we shouldn't have this discussion since Muslims are a smalllot community that have their own rules and dont have any relations with us.

[12tribes]

It may be so for the muslims but this has nothing to do with the virtual currency we are dealing with. Gambling involves deliberate taking of risk to make high profit within a short time, this is not the case with the crypto world.
Whoever is not convinced about this argument can take the exit door.

[Mometaskers]

Oh that's funny, a few months ago there was a thread here about a cryptocoin for Muslims. Haven't checked what happened to it (forgot the name) but if that got past ICO and traded it would have been the same as any other crypto with the price fluctuating.

[tabas]

I never heard about that thing. If it's about religion and other belief I'm respecting each angle that makes them believe on why they should forbid or disallow their faith believers of having it so.

I always find it odd

I find it odd either first time of hearing that it's not allowed.

[DefDope66]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

anybody ignorant enough to be religious has no place in the future, so good riddance. Even those most fundamentalist will come around once the system becomes mainstream (if it ever does).

Do you want fundamentalists to "come around" or not? I thought religious people don't have a place in the future(?)

[DAOfan]

I think 'gambling' really depends on your intent when it comes to bitcoin or any asset. For example, you could buy a house with the intention that it is an investment that you will make better through your own hard work and dedication. You will have that house for your family and maybe even their family. Or you could buy a house because you hope to profit off the rapid increase in property values in that area. If you were strictly religious, that might be too close to gambling for comfort.

[Fancyax]

It forbidden for now but its temporary i think, its researched and can be changed

Nothing is temporary in a religion. But i don't think it'll affect the market, when the money talk religions shut up.

[teejayrichard2]

well for me, Muslims forbidding it or not really don't have any effect on bitcoin price and usage. i strongly believe they use it, not all Muslims will forbid it. if the main reason why Muslims forbid it is because of its uncertainty in price, making it look like gambling then it is not a good enough reason because from what i know, no religion supports gambling. if no religion supports gambling, who then are the bitcoin investors?

[darkangel11]

How can it be forbidden for Muslims if the UAE is a Muslim country and cryptocurrencies aren't forbidden there? On the contrary, they've launched a new exchange in January.
http://www.arabianbusiness.com/banking-finance/387598-new-uae-based-cryptocurrency-exchange-launched
Also, like others have said, investing is not gambling. Gambling is a pure game of chance, where you can only win or lose, there's no middle ground. They won't say: sorry you lost 5% of your money Investment can end up costing you or not, depending on how the asset is performing.
I heard that in Turkey cryptocurrencies are forbidden, but those guys can't even explain why. All they are saying is that it's not compatible with Islam. AFAIK Islam isn't even compatible with itself, since radicals are calling other Muslims infidels and murdering them.
I think you should do the proper research first. You don't know what you're talking about OP.

[Carmen01]

No i don't believe in that because this digital currency is modern only so even muslim and not muslim can use it or all of us can use it,I think if you say forbidden that can affect your trandition but i think bitcoin is not that sacred so muslim can use this in a lot of conveniece that btc brings to users of it

[Aliya Taj]

These are the fake information we are always against, no authenticity at all, UAE, accepts cryptocurrency, and there is a BTC dealership in Dubai, these are some of the Biggest Islamic countries in the word, what Muslims are you talking if

[zarados]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

Actually i dont believe,that this bitcoins is forbidden to our brothers muslim to participate this kind of cryptocurrency investment,because as far as i know ,that many of asian country,that mostly 90%  living,there religion is muslim or islam but they join this kind of trading investment,even in the country of india mostly 3/4 of there population is muslim, but they still participating in doing bitcoin,because like us they also want to pursue and achieve there dreams  by the help of digital currency system.

This post really explains A lot, I really think there are no religion that is forbidden to use such technology and bitcoin itself like you have said I have known many Muslim friends that are really engaging and some wants to really learn how to earn in bitcoin, And I think bitcoin is a gap mender between other religions and as long as you are not doing the wrong thing and not because of the traditions involve in a religion I really think it is not really forbidden.

of course, I feel the same way, as long as we do not do bad things it's all okay. But in Islam, we cannot judge for ourselves that something we do is good because they still have to be guided by the Qur'an (the book of Muslim). There are many Muslims who know the bitcoin and invest in it, but in fact, they just do not know about the prohibition of bitcoin in Islamic rules. Among G20 decisions the other day, does anyone know the decisions of some Muslim countries?

[zarados]

How can it be forbidden for Muslims if the UAE is a Muslim country and cryptocurrencies aren't forbidden there? On the contrary, they've launched a new exchange in January.
http://www.arabianbusiness.com/banking-finance/387598-new-uae-based-cryptocurrency-exchange-launched
Also, like others have said, investing is not gambling. Gambling is a pure game of chance, where you can only win or lose, there's no middle ground. They won't say: sorry you lost 5% of your money Investment can end up costing you or not, depending on how the asset is performing.
I heard that in Turkey cryptocurrencies are forbidden, but those guys can't even explain why. All they are saying is that it's not compatible with Islam. AFAIK Islam isn't even compatible with itself since radicals are calling other Muslims infidels and murdering them.
I think you should do the proper research first. You don't know what you're talking about OP.

in a country, of course, there are a number of people with various religions living within it. Similarly, the UAE, in which there are Muslims, Christians, and Jews, so the decisions issued by the government are general. Meanwhile, I'm not saying that bitcoin is forbidden in Muslim countries but only Muslims. The prohibition I am referring to is not from the government but from the Muslim holy book studied by the experts and made the conclusion. Muslims who follow can be said to obey the rules of Islam and otherwise. I think you're the one who doesn't know what you're talking.

[Vart4varta]

First of all, it is necessary to determine the status of the crypto currency. Can this be considered money? From the point of view of the Sharia, money can be everything that people agree about, that is, what will be generally recognized as money. Thus, in principle, money, as a medium of exchange, can be anything, anything. There is a well-known case when the Caliph Umar ibn al-Khattab even wanted to make money from camel skins, but after the companions objected that in that case there would be no more camels, he refused this idea.

[Fayamba]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

I dont agree with your point that bitcoin if forbidden for muslims. If that is the case, then trading in general is forbidden for muslims. Now consider bitcoin as a bag of beans. Immediately after a harvest, the price becomes cheap and i decide to buy a bag for $300 and decide to store it. But as time goes on and the amount of beans in the system gets scarce, the price shots up. Now i decide to sell the bag of beans for $500. Does it mean the $200 profit is forbidden?

[kenelmark]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

Actually i dont believe,that this bitcoins is forbidden to our brothers muslim to participate this kind of cryptocurrency investment,because as far as i know ,that many of asian country,that mostly 90%  living,there religion is muslim or islam but they join this kind of trading investment,even in the country of india mostly 3/4 of there population is muslim,but they still participating in doing bitcoin,because like us they also want to pursue and achieve there dreams  by the help of digital currency system.

This post really explains A lot, I really think there are no religion that are forbidden to use such technology and bitcoin itself like you have said I have known many muslim friends that are really engaging and some wants to really learn how to earn in bitcoin, And I think bitcoin is a gap mender between other religions and as long as you are not doing the wrong thing and not because of the traditions involve in a religion I really think it is not really forbidden.

Actually it is not Islam religion forbids bitcoin, but it is the policy of muslims countries to ban bitcoin. at least, they ban bitcoin as a currency exchange. it is different between Islam as religion and countries of muslims. it has no different to most countries that ban bitcoin as a currency. Only Egypt, Iran and Saudi Arabia ban bitcoin at all.

[thelemot]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

a good question, but I am not an expert in explaining religious matters. you need to ask religious leaders who understand this kind of problem. I think this is valid because it is not included in the element of deceiving or gambling. in this sense it is only included in the investment but the unstable price is what makes bitcoin will be considered for Muslims

[lukmandog]

Under current regulations or what they call 'fatwa', even though bitcoin is considered the currency of the future and part of technological development, bitcoin cannot be separated from one of the elements that can make it forbidden to use. The element is uncertainty. Bitcoin is considered to have this element because the price is so volatile that people like gambling when buying and selling bitcoins, and gambling was forbidden for muslims. how do you think about this?

This is strange conclusion. you make muslims look like fools.
even in this forum, you can find board for muslims countries; Indonesian, Arabic (same language for different arabians countries) and Turkish.
I guess you read that their countries forbid bitcoin, but it doesn't mean Islam teachings forbid bitcoin.