GsxR150
Jr. Member
 Offline
Activity: 252
Merit: 4
|
 |
April 09, 2018, 03:19:19 AM |
|
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?
So far there is no fatwa from Moslem religious leader for cryptocurrency yet, but the trading principle is the same whether the cryptocurrency, foreign exchange or stock exchange |
|
|
|
|
|
|
|
|
|
|
|
|
|
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
starmahafuza
Newbie
Offline
Activity: 33
Merit: 0
|
|
April 09, 2018, 03:23:00 AM |
|
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?
there is a lot of controversy regarding the use of bitcoin.Some muslim scholar say it is halal for the muslim while others say nonhalal.But a lot of mislim people are engaging themselves in trading and investment on bitcoin and other crypto. |
|
|
|
|
|
kirito1614
|
|
April 09, 2018, 03:37:09 AM |
|
This post truly clarifies A great deal, I truly think there are no religion that are illegal to utilize such innovation and bitcoin itself like you have said I have known numerous muslim companions that are extremely captivating and a few needs to truly figure out how to procure in bitcoin, And I think bitcoin is a hole mender between different religions and as long as you are not doing the wrong thing and not as a result of the conventions include in a religion I truly think it isn't generally taboo.
|
|
|
|
|
esa2782
Newbie
Offline
Activity: 101
Merit: 0
|
|
April 09, 2018, 03:44:05 AM |
|
well it is the same like paper money actually, it is also has uncertainty but the different is paper money is guaranteed by government and under the law, the fluctuation of paper money is "determined" by the banking system and the government, like IMF for example, so to say that muslims are forbidden to use bitcoin and cryptos as a payment method is quite hard to see the relation, because the basic idea of btc is still for payment, but because the governments are not willing to cooperate and decide to stand as an opposition to btc that make btc nowadays become "collectible" and "traded", and trading is translated as gambling, i mean why stock exchange is not "haram" because the government involved, i think that is the main point that still missing in btc and cryptos ecosystem.
|
|
|
|
|
mustafizur8400
Newbie
Offline
Activity: 86
Merit: 0
|
|
April 09, 2018, 03:44:55 AM |
|
This question is very complicated and can be answered by
a person who is having sound knowledge in Quoran and Hadith. If I consider Bitcoin is one of the form of investment and return is uncertain then it seems to be like
a business. So doing business is not illegal.
|
|
|
|
|
plasmafrog75
Member
Offline
Activity: 100
Merit: 10
|
|
April 09, 2018, 03:47:01 AM |
|
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?
In countries like India where there are now practical currency problems, traditional nations do not like the presence of Bitcoin; I think it is possible that these currencies will be the focus of many. Interest from people in low-income countries will not be acceptable to Bitcoin. |
|
|
|
|
|
kaya11
|
|
April 09, 2018, 04:01:00 AM |
|
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. I will root for you, I strongly believed that it is not forbidden. Bitcoin has value now, it's bought like a goods, paper money in early days have no value at all. Now Bitcoin has a value, it is a way payment for other people, and surely for most in the future. It's nothing new, the good Muslims are just aware for their fellow brothers and sisters- they are afraid that they might engage in businesses that have interest or what they called "Riba". There are allowed investments in the Muslim laws, and Bitcoin is an investment, so I think they are good with this kind of investments. |
|
|
|
|
Nilda
Member
Offline
Activity: 336
Merit: 14
|
|
April 09, 2018, 04:09:10 AM |
|
Investing in bitcoins is not gambling. Totally worlds apart. If you lose your money in a casino, it’s gone forever. In bitcoins, you don’t lose your money until you decided to sell.
|
|
|
|
BTR Community
Newbie
Offline
Activity: 56
Merit: 0
|
|
April 09, 2018, 05:05:30 AM |
|
Nope. Bitcoin is not like gambling, if you say it is then share market is also a kind of gambling which even the muslim people and countries take part. There is thing in the world which is standard and everything moves up and down like gold price, petrol price and currencies of different countries, we cannot call all these elements as gambling. So, Bitcoin is also obviously not a gambling.
|
|
|
|
|
|
dewi91
|
|
April 09, 2018, 05:29:57 AM |
|
Indeed gambling is forbidden to Muslims. But many people think bitcoin is not gambling, bitcoin is just a crypto currency whose price can go up and down. I think it's a trade and not a gambling. Muslims do not ban commerce. I do not really understand religion. But hopefully what I say is true.
Yes, I think so. Buy and selling bitcoin is different from gambling. If we buying something and resell by follow the market price then it is allowed. As far as I know Islam never prohibit the people to trade and get benefit, as long as that is sold is not something forbidden like alcohol and other. |
|
|
|
|
|
AliMan
|
|
April 09, 2018, 05:34:23 AM |
|
Indeed gambling is forbidden to Muslims. But many people think bitcoin is not gambling, bitcoin is just a crypto currency whose price can go up and down. I think it's a trade and not a gambling. Muslims do not ban commerce. I do not really understand religion. But hopefully what I say is true.
Yes, I think so. Buy and selling bitcoin is different from gambling. If we buying something and resell by follow the market price then it is allowed. As far as I know Islam never prohibit the people to trade and get benefit, as long as that is sold is not something forbidden like alcohol and other. What are your sources about that statement? I don’t think Muslims are prohibited by investing on bitcoin. There is no direct meaning that bitcoin is a gamble. There is a big difference between spending your time in casino than holding your bitcoin until it increases. Muslims and some religious people are prohibited in gambling but not in bitcoin because it is not gambling. |
|
|
|
XpanderaX
Newbie
Offline
Activity: 110
Merit: 0
|
|
April 09, 2018, 05:35:30 AM |
|
True what you say, Gambling is forbidden by Muslims. but I do not think Bitcoin is a gamble, if prices go up in the market it's not a reasonable thing. and not just Bitcoin whose price up and down, Basic necessities such as Rice, Oil, and Sugar prices are also up and down! is that also said gambling, is not it ?! that means the rise and fall of bitcoin prices is a natural thing, and that is not gambling.
|
|
|
|
|
|
imstillthebest
|
|
April 09, 2018, 05:43:33 AM |
|
True what you say, Gambling is forbidden by Muslims. but I do not think Bitcoin is a gamble, if prices go up in the market it's not a reasonable thing. and not just Bitcoin whose price up and down, Basic necessities such as Rice, Oil, and Sugar prices are also up and down! is that also said gambling, is not it ?! that means the rise and fall of bitcoin prices is a natural thing, and that is not gambling.
gambling isnt forbidden to muslim or any other religions as long as it is not an illegal gambling or you arent on duty while playing gambling. bitcoin is not also gambling because bitcoin is a currency (digital ) but bitcoin can also be used a tool in order to play gambling and other risky method of doubling your money (e.g investment , trading, etc ). the price changes of the stocks like rice , sugar , oil is not considered as volatile because they arent fluctuate too much or too often. |
|
|
|
|
tondenga2122
Member
Offline
Activity: 490
Merit: 13
|
|
April 09, 2018, 11:08:46 AM |
|
True what you say, Gambling is forbidden by Muslims. but I do not think Bitcoin is a gamble, if prices go up in the market it's not a reasonable thing. and not just Bitcoin whose price up and down, Basic necessities such as Rice, Oil, and Sugar prices are also up and down! is that also said gambling, is not it ?! that means the rise and fall of bitcoin prices is a natural thing, and that is not gambling.
gambling isnt forbidden to muslim or any other religions as long as it is not an illegal gambling or you arent on duty while playing gambling. bitcoin is not also gambling because bitcoin is a currency (digital ) but bitcoin can also be used a tool in order to play gambling and other risky method of doubling your money (e.g investment , trading, etc ). the price changes of the stocks like rice , sugar , oil is not considered as volatile because they arent fluctuate too much or too often. Dude gambling is obviusly haram. There's no profit in gambling, you will all your money if you stay on this. All investments with predetermined interest, doubling money on HYIP website is also haram. Bitcoin is not haram as long as you do the good things. Like Trading, Mining is allowed in Islam |
|
|
|
|
jimbo77
Member
Offline
Activity: 224
Merit: 10
|
|
April 10, 2018, 03:20:03 AM |
|
Maybe it is forbidden for Muslim's in your country and not in mine, I have alot of Muslim friends who involves themselves so much into crypto than myself, they talk about crypto to their friends everyday, and also get people who invest massively. Bitcoin is a means of exchange just like your fiat money, so I don't see any reason why it would be forbidden to a Muslim.
|
|
|
|
|
|
zarados (OP)
|
|
April 11, 2018, 12:38:38 PM |
|
True what you say, Gambling is forbidden by Muslims. but I do not think Bitcoin is a gamble, if prices go up in the market it's not a reasonable thing. and not just Bitcoin whose price up and down, Basic necessities such as Rice, Oil, and Sugar prices are also up and down! is that also said gambling, is not it ?! that means the rise and fall of bitcoin prices is a natural thing, and that is not gambling.
gambling isnt forbidden to muslim or any other religions as long as it is not an illegal gambling or you arent on duty while playing gambling. bitcoin is not also gambling because bitcoin is a currency (digital ) but bitcoin can also be used a tool in order to play gambling and other risky method of doubling your money (e.g investment , trading, etc ). the price changes of the stocks like rice , sugar , oil is not considered as volatile because they arent fluctuate too much or too often. Dude gambling is obviusly haram. There's no profit in gambling, you will all your money if you stay on this. All investments with predetermined interest, doubling money on HYIP website is also haram. Bitcoin is not haram as long as you do the good things. Like Trading, Mining is allowed in Islam is there any reference proving that Islam allows bitcoin trading and bitcoin mining? if any please show me, articles, youtube ect. Because based on the video that circulated about the views of Islam on cryptocurrency is negativ and recommended to be shunned. because the bitcoin itself is not obviously haram, but bicoin trading is considered haram because it has the element of gambling inside. |
|
|
|
|
jamesmitsui
Newbie
Offline
Activity: 196
Merit: 0
|
|
April 11, 2018, 12:59:35 PM |
|
Gambling is forbidden in Muslims. But bitcoins are like stocks, always waiting for a good price to sell. If bitcoin is not used by Muslims, it does not matter. Because there are still many people who can use bitcoin.
|
|
|
|
|
|
xiboothrezi
|
|
April 11, 2018, 01:06:02 PM |
|
What are your sources about that statement? I don’t think Muslims are prohibited by investing on bitcoin. There is no direct meaning that bitcoin is a gamble. There is a big difference between spending your time in casino than holding your bitcoin until it increases. Muslims and some religious people are prohibited in gambling but not in bitcoin because it is not gambling.
You are right. When referring to the time of the Prophet first, there is also a currency trading, which is a dinar and dirham. As long as it does not violate the law of commerce then it is "halal". |
|
|
|
PS45
Newbie
Offline
Activity: 5
Merit: 0
|
|
April 11, 2018, 01:08:35 PM |
|
because they want to keep people out of the technology but i think its not going to work for them by the time .
|
|
|
|
|
lani123lani
Member
Offline
Activity: 719
Merit: 10
ORBIS PLATFORM
|
|
April 11, 2018, 03:35:52 PM |
|
as far as I participated in the new bitcointalk I first heard bitcoin forbidden to Muslims. because I do not think it has anything to do with bitcoin with Muslims. because bitcoin is not like gambling. I think no religion is forbidden to use bitcoin and technology. like I am a Muslim and my friends are also mostly muslim. so in my opinion there is nothing to do with bitcoin that is forbidden to Muslims.
|
|
|
|
|
