May Bitcoin be considered money according to Islam?

[NelfiNovita]

An interesting question is whether Bitcoin is money according to Islam.

depending on how to get it if you get it by gambling, then obviously it is forbidden, and if you get it by working hard as instructed and paid in the form of BTTC, I think this is not illegal.

[kalstarzz]

maybe I have not found a definition of money in Islam, but I have found an understanding of transactions, in Islam it is explained every thing that has a price or value can be a tool for making transactions. and I have not found any conditions that must be fulfilled in Islam so that a certain object can be said as money. and I think Islam does not give a certain definition of interpreting money. Islam only determines the number of things that can be used to transact, and bitcoin has fulfilled the requirements in the transaction.

[Zadeket]

For me bitcoin is a digital money that has a value that needs mined. As what i understood in Islam if it is halal if it is lawful in traditional Islamic law. Maybe they considered it because they know is is lawful to their tradition.

I think it's money, it's only used digitally. Bitcoin has a value that is converted with USD, so it can be known by the public that today's bitcoin exchange rate is USD. In my opinion it is lawful because it is not gambling, and prices are made because there is supply and demand.

[rumexx]

Bitcoin is a digital money whichever way we look at it. The Islamic law may or may not recognize it but I know of some bounty that is being projected by Muslim, for example, Halal was one of them and I participated in promoting it. if Islam does not recognize bitcoin as money why did they projected those projects and worked on it till the end.

[RokokGudangGaram]

if what I know is that bitcoin according to Islam cannot be a currency but it can be an asset like an item that can be used as an investment and can be traded

[qiwoman2]

It was passed by the Shariah Council apparently as being HALAL and can be used as money and most cryptos in general as well as long as they are not scams. It's also halal to join ICOS as it is considered a business venture and business partnership to ivnest in a legitimate business. I think this is good because it makes all people inclusive in joining the crypto revolution as long as Bitcoin is being sued by Everyone, it can also help local and big economies grow by diversifying money and decentralizing wealth all around. I hope more Muslims partake in this great tech leap venture forward as it will help unite people a supposed to divide them, which unfortunately politics tries to do by being partisan.

[meagleweb]

Recently, Islamic religious scholars have banned the sale and purchase of bitcoins. It's funny
https://amirannama.com/product-category/firebrick/

[lokas0506]

BTC is Haram if u think about it

But in Rome u do as the Romans do

Could argue about Mining as means of securing the value transfer aspect anyway for starters highly volatile nature of BTC implies it being Haram (one could argue that times have changed since back in the time 1 gold=1 gold and inflation was a matter of decades <rather not centuries :-)

Summing up - Send 1 BTC cash out 1BTC / pay for smth with BTC - OK , buy BTC with intent to make profit - Haram , so what if I get paid in BTC hold it and make a lot of profit (and the like situations ) well I suppose its the stress/energy that makes it Haram and I suppose this what Sharia is about having your ancestors wisdom to help u with life

[soheilbrick]

https://soheilbrick.com/

[Newlifebtc]

An interesting question is whether Bitcoin is money according to Islam.

Bitcoin is money and bitcoin is not something of religion and is a digital money you can spend Bitcoin the way you spend your paper money you . The thing is causing people to be confused of bitcoin is when they dis regards the currency as fraud and people use to collect money from other people illegally, nothing is islam religion for bitcoins because is everywhere