Bitcoin is forbidden for Muslims

[tayogpanganiban]

Yes,gambling is forbidden for muslim brothers but I don't think using or investing bitcoin is forbidden to them.There are some muslims countries that bitcoin users.So maybe it's not bad if they invest in bitcoin.

[Superways]

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?

Islam do not allow muslims to rely on the sayings of people but it has its rules for living a successful life. And according to that rules bitcoin is a currency as it is invented for buying and selling goods and the concept of fluctuations in prices are already informed by Islam in assets and they did not said that with these fluctuations these assets becomes gambling. So it is false to say that Muslims are seeing bitcoin as gambling but they are seeing it as a currency and a fluctuating asset as well.

[brokens]

No, Bitcoin is not banned for Muslims because everyone has the right to invest in this digital currency. in the whole this world are already many who use this digital currency for their life needs.
I want to know why you connect Bitcoin with a religion? this has absolutely nothing to do.

[NineBall]

Islam does not allow gambling. But what is bitcoin as gambling? Gambling it's diffrent with Trading.

Gambling is an activity of drawing fate! For example grab a dice, select a number and then hope the number will appear, throw the chest ... the decision-making process is complete when the dice is thrown, the end we never know and can not control it.

Then what about trading? Trading is a decision making activity involving many aspects ranging from market research and analysis, financial management and risk management to psychology management to recognizing market psychology as well as the ability to control oneself.

But what distinguishes a trader from a gambler is a trader has the ability to read things and then change them for example by counter-trading, running a backup strategy when realizing the predefined calculation and analysis is wrong. A trader has the ability to turn an unfortunate circumstance into a favorable state for himself.

"Allah will not change the fate of a people except the people themselves who change what is in themselves" QS. Ar-Ra'd (13): 11.

I'm muslim too.  

[evilsign]

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 do not agree with it. BTC is like currency. If You mean is trading like gambling, I think it will depend on who use it for. If You use the money for gambling, and you are Moslem, do you think the money is forbidden? I hope you clearly read it.

[tegarp90]

Since the price of bitcoin relatively speculative.
It might be becomes haram when you do trading.
It's not haram when you get your coins with bounties XD

[Rupok]

I do not think Bitcoin is forbidden for Muslims and i don't believe this.Investments and financial transactions and business commerce are in all religions.Bitcoin is being earned in this World and Bitcoin is being sold. So it can not be gambling.If someone gambling with Bitcoin, then it is forbidden for that person.But I do not think bitcoin is gambling. This is a digital coin whose price ever increases and decreases, and is invested.

[Shaffan]

Well I don't think that bitcoin should be forbidden for muslims due to the following reasons:
•People say that bitcoin is like gambling due to uncertainty of the value of the bitcoin but if you check then all the world currencies also have uncertainty of value in them but at a slower rate.....for eg: today $1 = 115 Pkr (Pakistani Rupee)approx & when you check this price a few months back it was for $1 = 100 Pkr.....so this shows that physical currency also has uncertainty which cayses price fluctuations but at a slower rate than the cryptocurrency.
•I heard people say that you could get a haram cryptocurrency into your account without your knowledge...for example I bought a bitcoin and the person from I bought had bought it from another person who got this bitcoin from a loan/black money profit/through money lending or by any other haram means so the bitcoin which I got is haram.....but in reality you also have gotten many haram physical money which may have been used in haram works but its still halal for you as you've earned it,hence same is for cryptocurrency.

[Kotone]

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 honestly could not see the reason why bitcoin is forbidden to or brothers in the Muslim side as you fail to give enough sufficient reason to do so. I do think however that if this can push through that bitcoin can be the currency of the future then I believe that every religion or every gender, race and nationality that we do not have anything to resort into and only believe and just do our jobs of maintianing a good information drive for this. Once this happens then we can all enjoy bitcoin

[Zapto25]

which I know of no "fatwa" which says that bitcoin is off limits to Muslims, but gambling is forbidden because it can harm others and self, whereas in the system of sale and purchase sahah sahah the most important no fraud in buying and selling

[oppasong]

Bitcoin is not gambling and no religion forbids bitcoin so that many use bitcoin as a form of transaction or also as a place where they get an income even though bitcoin is not physical but many people are fond of bitcoin

[sk700]

its a scam, false news and I heard first time that Muslims can't use bitcoin. bitcoin is a global online currency it is universal currency and all classes of people use bitcoin.

[detector]

It's depend on people judgement.

Do you think stock exchange is halal ?
Stock exchange also gambling activity but government support stock exchange rather than Bitcoin trading.

So it's depend on your government and yourself !

[egtrader]

im Muslim and i can use bitcoin as i want no gambling in bitcoin

[retnoanjani]

which I know of no "fatwa" which says that bitcoin is off limits to Muslims, but gambling is forbidden because it can harm others and self, whereas in the system of sale and purchase sahah sahah the most important no fraud in buying and selling

That's right, there are indeed many disagreements regarding fatwas. As a Muslim, as long as I do not use a "haram" way like gambling to get bitcoin, I'm sure that's okay. This is a fairly sensitive issue, act wisely, and respect each opinion, and consolidate the decisions we make based on Islamic law.

[vandako]

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?

Do no fall for all this. Many of my friends are investing in bitcoins and are making good money. Isn't is surprising that they have rules mentioned in their books created thousands year ago for something that is happening recently .

[gerjiss]

I agree that Bitcoin like the other Altcoins are very volatile in price. But you can not equate them with excitement.

[Reid]

Life is already a gamble. Everything around you is a gamble. You walk around you gamble your life and be prone to anything that could happen to you.
If that is the explanation of all of this, then they should have not existed anymore. Maybe killing themselves will be the answer. But hey that is also forbidden.  

You can either think of it as a gamble or just buy it because you are thinking for your own future. If you think it is the currency we will use after all fiat is burned then being in the first lane will be a good idea right? Instead of having war with others just so you could buy one bitcoin for a larger price.

[cryptojac17]

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?

Completely comparing bitcoin to gambling is an outright restriction to the use of bitcoin and also insulting the intelligence of those who feels that bitcoin is the currency of the future. Also, if you are going to rely on that, I have not seen a Christian leader by default or by virtue of interpretation of the Holy Book exhort the art of gambling and by so, you should say bitcoin should not be used at all and the same goes for other religions on the world.

Its simple, most times the terms used by the Holy Books are mostly subjected to interpretation based on the different ways we see life which is even influenced by our culture, parents, society, friends and colleagues which means even though we practiced the same religion, we have different tolerance levels for certain things. In short what you use bitcoin for would determine whether its acceptable in your religion or not.

I don't know how  they interpret bitcoin system if they consider it as illegal to the religious beliefs, but for the Christians  the principles is give the government what's for the government and money matter, religion should have not involved here.

[boty]

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 do not know why it can be racist like that, I think digital currency like bitcoin is entitled to use anyone and for any religious person there is no clear and absolute ban for bitcoin, you should not be racist like that, keep the feelings of Muslim brother, all the same people are not too different.