Is Bitcoin halal?

[Findingnemo]

snip~

In my experience people who are so vocal about haram have no problem doing haram things like cheating and lazing off at work, which is more haram than alcohol or gambling by the way.

Don't stop doing anything for any reason no matter what it could be as long as it is not endangering anyone and making your future bad.All these saying are old so people may not be always right when implementing it with new technology so create your own rules instead of following a fellow humans who says anything for their benefits.

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[macson]

Bitcoin is not the basis for measuring goods and services rather it is just a means of exchanging certain goods and services. It was not introduced by any known party but its central authority is completely unknown bitcoin is not widely used and widely available among the people and it is limited to those who exchange it and accept its value that is it is not for people at all levels of society. Thus bitcoin is not considered a currency in the eyes of Islamic law since the Islamic shari'ah document completely forbids the buying and selling of unknown products.

I have seen on YouTube there is a Muslim who is devout to become a Bitcoin miner.  when asked if Bitcoin deviates from Islamic teachings and is haram? 

he answered: "no....because I got this Bitcoin from a complicated process and also a large amount of capital, i did not take people's rights to get this, that's why the Bitcoin which i got does not violate the law or Islamic shari'ah".

[Banprox]

In my opinion if you use bitcoin in good ways then it will halal. If you don't use it in good ways and use it to money laundering or other dishonest work by bitcoin then it will not halal. On the other hand i think a good researcher of Hadith and Quran can clearly tell that bitcoin halal or not.

[KryptoKings]

Bitcoin is not the basis for measuring goods and services rather it is just a means of exchanging certain goods and services. It was not introduced by any known party but its central authority is completely unknown bitcoin is not widely used and widely available among the people and it is limited to those who exchange it and accept its value that is it is not for people at all levels of society. Thus bitcoin is not considered a currency in the eyes of Islamic law since the Islamic shari'ah document completely forbids the buying and selling of unknown products.

I have seen on YouTube there is a Muslim who is devout to become a Bitcoin miner.  when asked if Bitcoin deviates from Islamic teachings and is haram? 

he answered: "no....because I got this Bitcoin from a complicated process and also a large amount of capital, i did not take people's rights to get this, that's why the Bitcoin which i got does not violate the law or Islamic shari'ah".

Although individual's opinion doesn't matter unless they are derived from some quranic verse or authentic hadith, this person's argument seems valid and logical.
Bts is not haram per se. It is new technology. Blockchain is future and we can not imagine public blockchains without it's native token.

[hulla]

~

Yep, you are right. Most people stated Bitcoin haram because they don't understand Bitcoin. Or only know Bitcoin is used for illegal issues like gambling, money laundering, or other bad things. In fact, those illegal issues are small cases in crypto right now. While Bitcoin is mostly used for investing or trading like Gold or Forex. This is only about misunderstanding Bitcoin, a problem of less education about Bitcoin to our society. Gradually, all people will know about the real fact of Bitcoin, including Muslim society. Once they know no harm in Bitcoin, our Muslim society will be aware that Bitcoin isn't haram.

Some Muslims already aware Bitcoin is not haram but the issue now is that when those that believe Bitcoin is haram are more than those that know Bitcoin as halal and this usually lead to debation within the Muslims. However, I expect the pandemic to change all that now because a lot of settings that consider Bitcoin to be Ponzi now see it as a better investment alternative.

[rodskee]

Since when has halal or haram ever stopped any Muslim from doing something they want to or not? Religious fanatics everywhere around the world, Christian or Muslim or Scientologist, I don't think they would ever at the end of it disregard Bitcoin if it is something they don't have a choice on anymore. There are better things to worry about halal/haram.

Do you Know what you are asking here? do You understand what we called Religious respect and belief ?
You are questioning a religion's belief and rules , When what you need to do is respect it .

And asking When has Halal stopped Muslim from doing what they want to do? that is when they are a real believer .. I thought you are a Muslim also since your Name sounds like but How you posted this? I'm sure you are not.

In Indonesia, cryptocurrency is not legal as a currency or as a payment for transactions. So we cannot do it. But it may be different in other countires.

When has that stopped Indonesians from using crypto? Look at the forum and see how many Indonesians are here;)

You know what ? You are only shitposting not not listening or even understanding the real score, he said that It was Illegal in their country but he does not Said that indonesian can't just do it , Crypto is decentralized so even if that is illegal to their country yet they can still do it but against  the Law.

[proTECH77]

Bitcoin is a decentralized currency that bring good news to those countries that accepted it or legalized it in their country. No religion can control bitcoin pump or dump in the country because bitcoin is created for the world to use to eliminate any wrong transactions in the country. Any Muslims or Christians that have the knowledge of bitcoin can make use of it to invest and achieve something good at the end of the investment.

[musafar37]

Bitcoin is a secret currency that cannot be caught or touched. It doesn't even have a specific value. It can also be called virtual currency, digital currency or online currency. There is no need for any regulatory body for its transactions। islamic currency  must be fulfills three important conditions-Currency should be the basis for measuring goods and services, that is, it should be the determinant of prices and wages. Any central authority shall issue currency; Who will be responsible for the circulation of this currency and this authority cannot be unknown to anyone. This coin should be widely circulated among the common people and should be readily available to all. It should not be limited to any particular group. I hope the answer is possible only by noticing the above.

[Issa56]

In Shariah, there is no valid reason to accept Bitcoin or other Cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for Gambling or Speculations, and used in illegal or unlawful transactions”.

You said bitcoin is not halal but all the reasons you give I don't really support them bitcoin is haram because it is used for gambling so definitely our number fiat currency is also haram because lots of people also gamble with our normal currency so that's not a reason to give that bitcoin is haram, you said bitcoin is used for unlawful or illegal transact that those not make bitcoin illegal because our normal fiat is also use for illegal and unlawful transactions. I believe before you can say bitcoin is illegal you have to look for concrete reason and evidence that bitcoin is haram not the once you just gave.

[TribalBob]

for me as long as the money for investment goes to bitcoin and other altcoins from our hard work and we get it not from gambling, cheating I think it's just because our intention is to make a profit, like we save in a bank and get interest per month

just my opini 

[flyer88]

With Muslims making up a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin has global implications.

In brief

• The use of Bitcoin under Islamic law has been a topic of discussion in recent years, as many Muslims worry that Bitcoin investments may be haram.
• According to recent scholarly interpretations, most general uses for Bitcoin are considered to be permitted in Islam.
• However, gambling, lending, and some kinds of trading with cryptocurrency are almost certainly forbidden.

Whether or not Bitcoin is halal has been a point of contention for many Muslims, as well as several Islamic banks and financial authorities in recent years.

This has left many Muslims worried about investing in cryptocurrencies—particularly during times of extreme growth—since they couldn't be sure whether the appreciation of their investment would be considered haram (forbidden) or halal (permissible) under Islamic law.

With around 1.9 billion Muslims in the world, equivalent to almost a quarter of the world's population, a clear consensus on the Islamic view of Bitcoin could be a major boon for adoption.


Bitcoin is (mostly) halal, say scholars

According to Islamic Law, there are a number of criteria that individuals must adhere to, in order to ensure their investment or other income is considered halal. For one, income obtained through unethical or exploitative means such as bribery, extortion, and profiteering is considered haram. It would be challenging to argue that simply using Bitcoin as a standard payment method would violate this tenet.

As of yet, there are still no clear official guidelines on whether Muslims should or shouldn't invest in Bitcoin. This task would fall on the legislators that codified the religious precepts of Islam, but such an undertaking has yet to be completed. Despite this, a number of Islamic scholars have offered their interpretation of the Islamic Canonical Law and how it applies to Bitcoin.

For more detailed information about this topic visit below the link source

https://decrypt.co/37286/is-bitcoin-halal

this all goes back to the perception and belief of each. This topic belongs to sara, which is very sensitive to debate. I do not deserve to comment on this, because it is not in my field to answer it. However, most Muslim-majority countries still allow bitcoin investment. If this is a matter of halal and haram, according to Islam, anything that has flowers is haram, deposits, and non-sharia bank loans are also haram. So this issue is really very sensitive. All back to each user's beliefs.

[Artemis3]

Compare bitcoin with fiat (physical money):

The bitcoin cannot be counterfeited, fiat can.
The quantity of fiat is not fixed and can (and is) increased on a whim, not bitcoin.
Bitcoin makes banks and financing obsolete (loans with interest).
Neither Bank nor State can do fractional reserve banking with bitcoin, at least not openly (easy to verify transparency: see Bitcoin day).

This should give you an idea where this is going. If anything is haram, its fiat money. Bitcoin is even helping you act good instead. Remember that this is about the money itself, not what people are doing with money.

The mathematical representation that cannot be counterfeited but is unique vs a paper issued by some Bank or State that can be copied and falsified. Think about it. Also in history, who and when was the field of mathematics advanced, where do the numbers used by the whole world come from? Etc...


Please remember than in a modern bank, there is no such a thing as a "deposit". If you give money to a bank, you are doing a loan with interest. I wonder what those scholars think about banks which Bitcoin renders obsolete, or optional (not necessary) at most.

The Austrian school of economy has been proposing to end this perverted system of fractional reserve banking and garbage money debt driven economy for more than a century.

[dimox]

I think if we talk about a real Muslim or a representative of other confessions, at the present time it is quite difficult to adhere to religion. If you live according to all the canons and postulates, then you need to go to the forest or desert and give up absolutely all technologies. Including telephone, television, loans, and more.
Therefore, you need to try to live according to religion, adhere to moral qualities, but never lose your head.

yeah, religion tell us to know, learn, following the future. not only stuck at past. if you have basic knowledge about that thing, you can do it as long as its positive for you. if you dont have, just leave it, dont try to touch it. and there àre many thing if we want to discuss about it.
and when compare between fiat and crypto, fiat is far to halal word.

[UKprod]

While gambling, lending etc. have been explicitly mentioned in the Khuran to be Haram in nature, you could try to understand intent of this law as laid down by the Prophet. His intent would have been that, any activity that is done to earn money without putting in efforts and hard work including speculation, gambling, trading, lending, etc. should be banned under Islamic law. So if you are holding bitcoin only as a way of profiting by selling it in the future (similar to gambling) then it will be haram. However, if your intent is only to hold Bitcoin as a currency of the future, then it is not haram. Your intent will determine if you are committing haram or not. As long as your intentions are pure, Islamic law will support you.

While I have mentioned the above, kindly note that I'm a non-Muslim, who holds interest in understanding all religions. Needless to say, I could be wrong in my interpretations.

[Tigerheart3026]

bitcoin is virtual currency/asset, anyone does not force you to use bitcoin, it's absolutely your own choices.
no one can justify it halal or haram from his personal point of view, bitcoin is not only using on illegal stuffs.
gambling is strictly prohibited in islam, so you don't use bitcoin here.

[Amirzz123]

The Key to Wealth applies no matter where you are currently at financially.

Life is meant to be lived, and our abilities to produce value to the world. If you focus on creating and adding value, then you will always increase. From there, you can take your increase and invest in income sources for a continual supply of resources.

[monmoynatt]

I Think Bitcoin Is Halal. Because we saw there has profit and loss. And we are trading here. Many people investing his money and diligence. We are lossing and profiting from here. Considering all thinks we told that Bitcoin is halal. And I Think we need to speech from Islamic scholar.

[ropyu1978]

Is bitcoin halal,, this is a very difficult answer for us to answer in this forum, because it involves religious issues, I believe everyone in this forum, not religious leaders, I am Muslim in my religion about halal and haram bitcoin, full of controversy, some say haram, some say halal, as long as there is no bitcoin trading fraud, no one is harmed and no one is deceived,

[bekti3]

you are too inclined to things that smell religious and I am very confused about this this could be included in the syara because it discusses certain religions.
and for this I am very confused how to answer it because I am not good at this and it is not my part when it comes to religious matters.
but regardless of halal or haram maybe you can ask someone who is more appropriate, it could be religious leaders or the like because I don't think it's very suitable here to ask that

[haidil]

I think you are too inclined to one religion and this I think is not good. and I don't know if this is halal or haram but I once read an article that explained about one of the financial platforms in Sydney Australia named Marhaba DeFi who will design sharia-based crypto. and maybe apart from the word here crypto is not justified for Muslims but can be anticipated by making things like sharia-based crypto.
for the source sorry I did not provide it. you can look for it on the website because there is a lot of news about it