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Author Topic: Bitcoin is considered as halal by Sharia Law  (Read 1364 times)
Kulafu
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April 18, 2018, 01:22:52 PM
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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.

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April 18, 2018, 01:31:18 PM
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Now there is no doubt. The haram is clear. This is a news that is waiting for by most Muslims.
Now Muslims can invest in bitcoin. No longer hesitate.
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April 18, 2018, 01:42:44 PM
 #3

The news came out few days ago, some people said this is the reason behind the jump of bitcoin price as well. But with rich people who live in muslim countries, maybe it could help the crypto world...
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April 18, 2018, 02:03:47 PM
 #4

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 know, some moslem leader allowed BTC for invest, trade, or something else. And some of moslem leader still discuss about it. And the question is, how about if it's halal clearly, but the regulation in his country is banned it? As long as we know, some moslem leader told that every moslem have to love his country, because it's a part of faith for Islam.
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April 18, 2018, 02:06:42 PM
 #5

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.

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April 18, 2018, 02:37:01 PM
 #6

No doubt after this event, the price of bitcoin will rise. Imagine you just. What a huge amount of the population can now use to trade cryptocurrencies. After all, Sharia law plays a very important role for every Muslim. Now everything is available on the religious level. Moreover, one of the richest countries are Qatar, UAE, Saudi Arabia. Now just waiting for huge investments in the cryptocurrency.
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April 18, 2018, 02:38:33 PM
 #7

Me as a muslim have option, haram nor halal.

Haram : if you are in gambling side it obviously haram, or ico with sex project.

Halal : if you are in certain trading of course it's halal (sell-buy in islam are legal)

Why half think that bitcoin is haram, all of because he haven't learn about it totally.

One example again, for example you're working on bounty campaigns, this is a job where you deserve reward​ for your work.

Where's the haram or halal placed? Back to the point above.

In spite of it all this will certainly affect the bitcoin price because it adds the amount of volume.

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April 18, 2018, 02:40:18 PM
 #8

How we seen price not going up creazy
this mean what who want buy btc buy them earlier

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April 18, 2018, 02:42:18 PM
 #9





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April 18, 2018, 02:43:19 PM
 #10

As far as I know, none of the Islamic clerics have classified Bitcoin (or for that matter any other crypto-currency) as halal or compatible with Islamic laws. I am living in a Muslim majority nation and Bitcoin is not considered suitable for Muslims here.


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April 18, 2018, 02:49:29 PM
 #11

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.

Bitcoin has been growing in terms of market share, number of users, number of countries allowed and supported, great features being improved on technology ... This decision is one of the things that makes Bitcoin worth more? I think this is absolutely correct!

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April 18, 2018, 02:50:14 PM
 #12

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.

that is right, this was just an scholar publishing something. but bitcoin was never haram according to Islamic leaders and i have checked! Muslims have been investing in bitcoin long before this news came out... maybe someday as bitcoin gains more popularity some of the leaders release some official statements also but so far as i know there is nothing wrong with it to this day.

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April 18, 2018, 02:59:43 PM
 #13

With the bitcoin in my legality, I think it can cost bitcoin. Because Bitcoin is now relatively accepted by individuals as a medium of private transaction exchange. About halal and sharia according to research. Abu Bakar can generate Bitcoin potential worldwide, especially for Muslims who experience 1.6 billion.
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April 18, 2018, 03:02:32 PM
 #14

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.


it is a good news mate. Muslims have been investing in bitcoin long before this news came out. So, I'm doubt again to invest in bitcoin.
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April 18, 2018, 03:11:30 PM
 #15

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?

Its too early to tell. Although bitcoin rose from $6+++ to $8K. But we can't say for certain if is has something to do with rich Muslims suddenly pour their cash on the ecosystem because it is considered as Halal under Sharia Law.

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.


Dubai was been really active since last year. So they have investment on it for quite sometime now. Yes there are a lot of rich Arabs but the question is are they willing to invest in crypto?

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April 18, 2018, 03:13:43 PM
 #16

I think if Saudi princes and emirates royalty take a fancy it could have an effect. I assume they would be going OTC so maybe the price wouldn't increase to drastically. Long term it will be good to have powerful people with aligned incentives!
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April 18, 2018, 03:44:45 PM
 #17

Me as a muslim have option, haram nor halal.

Haram : if you are in gambling side it obviously haram, or ico with sex project.

Halal : if you are in certain trading of course it's halal (sell-buy in islam are legal)

Why half think that bitcoin is haram, all of because he haven't learn about it totally.

One example again, for example you're working on bounty campaigns, this is a job where you deserve reward​ for your work.

Where's the haram or halal placed? Back to the point above.

In spite of it all this will certainly affect the bitcoin price because it adds the amount of volume.

Thanks dude for the insight. This is more reliable because it come from a Muslim believer.
I believe it will contribute because some of the conservative Muslim will not hesitate to invest.

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April 19, 2018, 12:21:13 PM
 #18


Dubai was been really active since last year. So they have investment on it for quite sometime now. Yes there are a lot of rich Arabs but the question is are they willing to invest in crypto?

I think they are. Dubai could open the mind of those rich Arabs to invest on cryptocurrency.

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April 19, 2018, 12:30:54 PM
 #19

As far as I know, none of the Islamic clerics have classified Bitcoin (or for that matter any other crypto-currency) as halal or compatible with Islamic laws. I am living in a Muslim majority nation and Bitcoin is not considered suitable for Muslims here.

Mr. Muhammad Abu Bakar a Muslim scholar declared it halal.
Check the link dude. Living in a Muslim majority nation cannot guarantee that you will know about this thing. One of our Muslim brother here he explained it well. I think hes opinion is more reliable than yours.
https://www.techradar.com/news/bitcoin-declared-halal-by-islamic-scholar

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April 19, 2018, 12:35:20 PM
 #20


Now there is no doubt. The haram is clear. This is a news that is waiting for by most Muslims.
Now Muslims can invest in bitcoin. No longer hesitate.

Yes dude. Good that they can join on community without doubt.

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