Is Bitcoin Halal or Haram: A Shariah Analysis

[MelojoeBryan]

Bitcoin is in accord to the Shariah Law. What is being taught in that law that a muslim should not engage is gambling. Bitcoin is a currency and at the same time it is like a commodity like gold and thus it cannot be considered gambling. Some muslim scholars have already have this viewpoint and said that bitcoin is healthy to be used by the Muslim community.

I agree with your opinion, bitcoin is not haram, bitcoin is a currency and investment is like gold, bitcoin is not gambling but there are some people who use bitcoin for gambling, bitcoin deserve to be said as a medium of exchange if it can be accepted by society

[1715094194]

1715094194

[1715094194]

1715094194

[1Referee]

So, I think bitcoin is totally legal in Islanic Shariah.

It should be legal in all aspects by default since Bitcoin itself isn't doing anything wrong. It's the ecosystem around Bitcoin that may not be considered halal in certain cases. It once again comes down to how people use or abuse Bitcoin, and this is something that not everyone seems to understand yet. Bitcoin itself is the purest form of freedom, everything basically that the current system can't provide people with.

I know plenty of muslims myself, and they all haven't even thought one second about Bitcoin being halal or not, and that's exactly how it should be. I very much doubt that this will have any significant impact in the future because of that; muslims have bought themselves into Bitcoin already, so what exactly is there to gain? If people talk about the wealthy Arabs, then I am sure they have done everything to get involved in crypto by proxy. Banks invest in crypto by proxy, wealthy individuals, perhaps central banks, etc. It almost seems like an ongoing proxy hype.

[sheenshane]

Bitcoin is in accord to the Shariah Law. What is being taught in that law that a muslim should not engage is gambling. Bitcoin is a currency and at the same time it is like a commodity like gold and thus it cannot be considered gambling. Some muslim scholars have already have this viewpoint and said that bitcoin is healthy to be used by the Muslim community.

I agree with your opinion, bitcoin is not haram, bitcoin is a currency and investment is like gold, bitcoin is not gambling but there are some people who use bitcoin for gambling, bitcoin deserve to be said as a medium of exchange if it can be accepted by society

Until now that issue was continuously discussing whether bitcoin is halal or haram, somebody says bitcoin is halal because bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. Meanwhile, there some people say haram through the thought of buying and selling virtual currencies is not compatible with Muslim religion at this time because of the fact that their valuation is open to speculation, they do easily use in illicit activities like money laundering and they are not under the state’s audit and surveillance.

[yojodojo21]

The only definition we can accurately accept is from satoshi nakamoto himself since he is the creator,he can define it more than what we could say, it does not matter if bitcoin is halal or haram, as long as bitcoin is use in good purpose and can connect people to the entire world and be free from slavery of big bank leaders who continue to put a certain country in debt.

[iTx]

Is fucking 9 year old little girls halal or haram?  

Do you think muhammed cared when he was nailing Aisha about such things?  I think Bitcoin is a little less bad than pedophile.  Carry on.

Totally halal...
" Aisha was six or seven years old when she was married to Muhammad with the marriage not being consummated until she had reached the age of nine or ten years old"

https://islamqa.info/en/44990

Can you stop posting offending things before knowing the whole story???

[Reid]

Bitcoin is in accord to the Shariah Law. What is being taught in that law that a muslim should not engage is gambling. Bitcoin is a currency and at the same time it is like a commodity like gold and thus it cannot be considered gambling. Some muslim scholars have already have this viewpoint and said that bitcoin is healthy to be used by the Muslim community.

I believe this should be the answer for all of that.
If it is really illegal to their Law then fiat money should have been too.
How can they buy their food if that happens? Paper money is an investment too. A lot of people from a nation where their own currency is low in conversion are keeping USD just so when it grows in value then they will have money. What is the difference with that and bitcoin?

[darkangel11]

Gambling is forbidden to all Christians and Muslims, as is loaning money.  But money is not forbidden. Now in reality there is no god so we are just talking about the ideas of men.

I always find it funny that so many men follow the ideas of other man like it was their duty. They impose restrictions upon themselves and flock into groups that choose the same restrictions. As a result, we have countries with multiple religions, where in one group people don't drink alcohol, pray to the mekka, beat their women and screw little girls, and in another, men wear black clothes and live in celibacy (officially), while being a parent, or fucking children (depending on the preferences) when nobody is watching.

[jinxing]

Related to hot news halal and haram bitcoin or other virtual currency. I have no opinion or fatwa to accuse. As for my thoughts, like a knife, if used to cook he has a law of halal. but if used to act crime then he entered the law haram.

Try to think, halal and haram the knife. not the knife that has the nature of halal or haram. but the behavior of people who use that. so anyway we treat bitcoin and use cryptocurrency like what. that is what determines halal or haram in the eyes of god.

About Shari'a. in cryptocurrency knows no hidden costs. in contrast to bank loans either government or private. they always have hidden costs and tricks. this is called usury. inside bitcoin and aother cryptocurrency does not exist.

I agree with you, the most I underline is usury. for me:
- far from usury
- Not Relying On Fortune (Gambling)
- Unclear transactions (Gharar), this means, when economic transactions must be ensured in advance the type, quantity, quality, condition of goods or economic products so that no one mutually harmed.
- Accountable; meaning transparent. Thus, in the future, although the problem will be clear and there will be no accusation because of unrecorded transaction issues.
I think Bitcoin with its Blockchain already has an accountable element, the rest depends on who uses it.

which I want to say you have said everything, and I also agree with your thoughts.Halal and Haram bitcoin depends on who is using it.But bitcoin has a transfaran over all.

[Zaidaskin]

Some scholars say, "Money is an object agreed upon by its users as a means of exchange, even though it is made of a piece of stone or wood. (Majmu 'Fatawa, 19/251). In conclusion, up to this point, the use of bitcoin by sharia law is permissible, there is no side to the offense, as long as it is legally owned and not through piracy or fraud.