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Author Topic: Bitcoin is considered as halal by Sharia Law  (Read 1434 times)
WhyBit
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June 26, 2018, 03:56:41 PM
 #101

Today I read this thread and have some good laugh because there is nothing about haram and halal in this bitcoin if you are using paper money in negative activities then its also haram its just feud bitcoin advantage is its giving profit and lost both so its very surely halal and we can use this as we are using other currencies we need latest technology and we need to improve things around us just check these things don't waste your time in these time wasting things
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molenracing
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June 26, 2018, 04:02:53 PM
 #102

The Muslim Council of Ulama in my country says, as long as it does not harm the Ummah, Bitcoin is Legitimate, and may be done. that means more and more Muslims are trading cryptocurrency, and I think anyone who goes into Bitcoin trade, if bitcoin demand is greater than bitcoin supply, of course it will elevate the value of Bitcoin.
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June 26, 2018, 04:18:21 PM
 #103

Really this is very good news. With no banned for Muslims to play in the world of cryptocurrency will be very influential for the development of virtual currency.

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June 26, 2018, 04:25:04 PM
 #104

We need the world to treat the crypto currency, as something ordinary. But at the moment there is an impression that people are afraid of crypto currency. If the Arab countries begin to invest in the crypto currency, then in time we will all be able to use it.
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June 30, 2018, 07:04:50 PM
 #105

That depends on what the bitcoin is used for, according to some schools of thought if bitcoin is only used for the purpose of storing then it is nothing more than a commodity and for that reason it is halal but if it used for trading then it is like gambling which is considered haram in Islam.
Marlo Stanfield
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June 30, 2018, 07:37:26 PM
 #106

Since the Muslim community can now trade/hold/invest legally on Cryptocurrecy especially BTC. Do you think it can uplift the price of BTC and concurrency as a whole?

Dubai is very active on Cryptocurrency. It's hosting many of cryptocurrency forum.
We all know that there are a lots of Arabs that are really rich.


I think most people in that region who are going to get in or get interested are already, or have been paying attention. I don't think it's much of a new frontier. More like they were part of the rush of 2017. I don't think there are too many new frontiers left now considering how international Bitcoin is now.
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June 30, 2018, 09:26:16 PM
 #107

Since the Muslim community can now trade/hold/invest legally on Cryptocurrecy especially BTC. Do you think it can uplift the price of BTC and concurrency as a whole?

Dubai is very active on Cryptocurrency. It's hosting many of cryptocurrency forum.
We all know that there are a lots of Arabs that are really rich.


The scholars of our country (Indonesia) rate bitcoin as cryptocurrency which can be considered very new for the community, until now bitcoin still reap the pros and cons especially Indonesian people who embrace Islam. Some of the scholars said bitcoin's the same as money because it can be used as a tool for transactions which can be accepted by the general public both as a standard value as well as a saving tool, but other scholars reject it "in recognition" of the general public because there are still many countries that "reject it", there's no regulating authority and tend to be used as a means of speculation.

And in my opinion, regardless of its function and benefits bitcoin is the same as money, however which makes it "Halal or Haram" is how our way gets it if we get it by stealing, persecuting, money laundering and gambling certainly very clearly his law "Haram". But if we get it in a way treating bitcoin like gold (as an investment asset), I don't think it's "Haram" especially when getting it from "Signature Campaign" is legitimate because we get it by working.
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July 11, 2018, 09:37:01 AM
 #108

Since the Muslim community can now trade/hold/invest legally on Cryptocurrecy especially BTC. Do you think it can uplift the price of BTC and concurrency as a whole?

Dubai is very active on Cryptocurrency. It's hosting many of cryptocurrency forum.
We all know that there are a lots of Arabs that are really rich.


If I remember correctly, it was just some study by one muslim scholar, so it's far from being "officially declared" for all muslims in the world. Some other scholars might even later declare it haram for some reasons. But regardless, I don't think that it will have any significant impact on Bitcoin's price, those muslims that wanted to buy Bitcoin earlier most likely did it regardless of its status and Bitcoin is also not that popular in arabic countries to make a big impact on Bitcoin's price, just like bans in some countries have almost no effect too.

Bitcoin is something to be considered legal unless a state/country creates a law to make it illegal. Well, another set of speculators will come to market and can make the price really volatile. I just want bitcoin to be stable so that many people could adopt and use it as a currency and not just an investment scheme.

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July 11, 2018, 09:40:39 AM
 #109

it is good news and wastes doubt on the Muslims to trade or invest in bitcoins,and I think that makes it halal and haraam depends on where we get bitcoin.if we steal clear bitcoin it's forbidden and if we buy bitcoin then the law is kosher then used for what if used in positive terms is good.

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July 11, 2018, 10:18:45 AM
 #110

This is really a great news for all muslims around the world who are taking part in cryptocurrency ....now muslims can take part in cryptocurrency without being hesitant....however there is a news that i have read that it is not clearly halal.. because there is no clear evidence that it is halal and there is also no clear evidence that it is haraam.
ETHtotheMOON1
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July 11, 2018, 10:24:23 AM
 #111

Bitcoin is currencies! so where the point of haram ? I'm a muslim but I don't realy knew about science of Syariah. in my opinion Bitcoin can be haram if you use it in wrong way, that's the point.

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July 11, 2018, 10:32:14 AM
 #112

therefore investment in bitcoin is lawfully halal by Islamic law. this is the main cause as well as the main reason. bitcoin much in search by the crowd. if if the forbidden investment in bitcoin definitely bitcoin enthusiasts will be reduced .

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July 12, 2018, 12:15:25 PM
 #113

There are conflicting views in this opinion, it is said that bitcoin is similar to stock trading and many Islamic laws consider this to be haram, therefore like that logic, bitcoin or any other cryptocurrency is considered to be an act of sin according to Islam.


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July 12, 2018, 12:40:47 PM
 #114

as a muslim i'm proud becouse as you said Bitcoin is considered as halal by Sharia Law .. nashkur now i understand Cheesy
ubay
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July 12, 2018, 01:02:59 PM
 #115

Bitcoin can be halal or haram, depending on how the user uses it. Be wise in using bitcoin for good is always with you.

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July 12, 2018, 01:05:45 PM
 #116

There is a lot of information from significant countries that accept Bitcoin and integrate Blockchain applications into their lives. But this does not accelerate the pace of the market, and I expect there is excellent information that makes the market move sharply.

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July 13, 2018, 02:00:52 AM
 #117

Can not be denied again if Bitcoin in the eyes of the Islam there are two options, namely Halal and Haram. like his case in the country I live there are two judgments who are still undecided.

It's weird when there are some Bitcoin forbidden, then I give some of the profit from Bitcoin's sale to the person who forbid the Bitcoin they received it, but I did not freak out.
So let alone the person who forbid Bitcoin because there are some Muslims who also mengaktalkan Bitcoin. Because I am sure that all the created in the existing way of each.

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July 13, 2018, 02:24:13 AM
 #118

Due to many negative news spread about bitcoin, big whales are manipulating the market and due to panic people are sold their bitcoins. These are the reasons that makes market goes to downtrend. Again and again the price goes down only. There is no sign of increase in price.  But some people are told within this month end the market will recover and the price starts to increase. Let's wait and see what the changes happen.
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July 13, 2018, 06:31:04 AM
 #119

Bitcoin can be halal or haram, depending on how the user uses it. Be wise in using bitcoin for good is always with you.
Bitcoin is a currency and i think that every currency is consider as halal. It is only depending on you that either you are using it for halal purposes or haram. I have heard that some Mofthi has given Fitwa about bitcoin that it is a halal. Because it is consider as trading where you have both the chances of losing and making profit.

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July 14, 2018, 03:02:30 PM
 #120

Well that's good news and it probably had a big effect with bitcoin's 2k usd surge last week since this news came in almost the same time as that certain surge. And knowing how muslims abide by their islamic laws, bt still some idiotic people refuse to take the bitcoin because of the fear that they will go to hell! Cheesy
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