Was paper money rejected by religions as much as Bitcoin?

[Becky666]

Using bits to represent value which can be exchange into services and goods has generated some argument among religions leaders and In this case the University of Lagos Muslim Alumni (UMA) has examined the Islamic perspectives, benefits and limitations to Muslims in this regard. Dr Muiz Banire, said “the reality of the situation is that there are always better ways of addressing a default. Because several of the youths involved in crypto currency will end being unemployed, which will enhance social dislocation and insecurity”, such definitely understand the true nature of man.

On the other side, “Most of the scholars said it is not allowed because it has not met the conditions. They argue that it has not protected wealth to a large extent while few scholars that accepted digital currency buttress their point that even the paper money was also rejected before it was accepted globally.” Sources

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[BrewMaster]

there is always difference of opinion everywhere, there is no reason to single out the religions. i don't know what this university is but last time i checked years ago the Islamic leaders analyzed bitcoin and concluded that it is "halal" to receive it as payment for any "halal" work or use it to pay someone else for the work they had done for you. but it is not if bitcoin is used for gambling or anything illegal. pretty much the stance that everyone else has too.

[Imran232]

even the paper money was also rejected before it was accepted globally.”

This is a line which proved the world that one day bitcoin also be accepted for all countries. Yes thats true money evolution shows us how peoples start accepting paper money as a value for exchange something from goods exchange method. So  there could be a chance too when some peoples start paper money as a value to exchange then that time whole world wasn't agreed them and they also didn't accepted paper money too. But now paper money is everything for us. So we can easily predict that one day bitcoin will be also acceptable for the whole world.

[Evilish]

I call rulings like these utter nonsense. There is no logic to it.

Someone please ask Dr Muiz Banire whether he trusts corrupt central bankers and governments over a decentralized monetary system that has no room for manipulation or exploitation.

On the other side, “Most of the scholars said it is not allowed because it has not met the conditions. They argue that it has not protected wealth to a large extent while few scholars that accepted digital currency buttress their point that even the paper money was also rejected before it was accepted globally.”

What conditions? The condition of inevitably being worthless by endless printing, manipulation, and corruption? We have seen that happen in countries such as Cyprus, Venezuela, and Zimbabwe. Other countries are following suit too.

[The Cryptovator]

I am not sure if the paper money was rejected before accepted globally. But I believe in a theory that when you discover something new, then at the very beginning it would be rejected globally. But, slowly it would be accepted by peoples. So same theory is applicable for Bitcoin as well. In the beginning, no one accepts it, slowly it has been spreading globally. So many negative and positive comments will come from different peoples but seem it's not affecting Bitcoin. Seems Bitcoin does not care about all the negativity. Hope once a time global population will be more encouraged to know about Bitcoin.

[Becky666]

there is always difference of opinion everywhere, there is no reason to single out the religions.<snip>

Even in Christendom they were against this internet money and not only just single down to the Muslim only, but we were also told about the beast and it mark 666 in Revelation 13:16-18, so,” I think the truth is, it is still too early to be dogmatic”.

[blockman]

"...Because several of the youths involved in crypto currency will end being unemployed.."

How about if it's considerable that many will be ending up unemployed because many of them are early investors of bitcoin and have bought a lot of it before the bull run? and the total value that they have are considerably good for retirement based on the cost of living in their country.
But regardless of it, I respect all of the religion and if they don't look at bitcoin in a positive manner, we need to wait for them until they change their stance or we should remain to respect them with that.

[7788bitcoin]

It is really confusing when you hear these bullshit, we are living in a modern society and where does religion stands during those times, yeah i bet there are many who exploit people in the name of religion and make insane amount of money and what i do not understand is do religion control any of these, may be in countries who have exploiting rules where women does not even have equal rights.

I am not judging but i am not an expert in this nor we will see any legit information about it online and i have no idea why a religion would reject bitcoin, the only aspect i understand is that they do not like transparency and have a trail for every transaction which is obvious  .

[AmoreJaz]

It is really confusing when you hear these bullshit, we are living in a modern society and where does religion stands during those times, yeah i bet there are many who exploit people in the name of religion and make insane amount of money and what i do not understand is do religion control any of these, may be in countries who have exploiting rules where women does not even have equal rights.

I am not judging but i am not an expert in this nor we will see any legit information about it online and i have no idea why a religion would reject bitcoin, the only aspect i understand is that they do not like transparency and have a trail for every transaction which is obvious  .

or better yet, they dont understand about it and dont know how to control it. the reason why they dont like it . am not really against with any of these religions but sometimes they are saying things that they have no idea about.
how many head of religious sects found out to be wealthy and untouchable because they are just using this so-called religion to enrich themselves and to have the power over their people?  we are already in this age and many people are already open to so many things, they can take care of their own businesses without their consent. this is why they are afraid also.

[snipie]

Religious stances aren't top in terms of understanding what cryptocurrency means, works.. They consider it as a pyramid scheme or gambling rather than gold or FIAT.
What's the difference between owning 1 bitcoin or 1 once of gold or 1 USD or 1 acre. After all its prices will change over time and risk to increase or decrease. We can trade it, buy and sell it like any other goods.

[Welsh]

I am not sure if the paper money was rejected before accepted globally. But I believe in a theory that when you discover something new, then at the very beginning it would be rejected globally. But, slowly it would be accepted by peoples. So same theory is applicable for Bitcoin as well. In the beginning, no one accepts it, slowly it has been spreading globally. So many negative and positive comments will come from different peoples but seem it's not affecting Bitcoin. Seems Bitcoin does not care about all the negativity. Hope once a time global population will be more encouraged to know about Bitcoin.

The reason this appears so, is people are stubborn, but also don't like change. So, whenever there's a new technology, or concept especially when it introduces evidence that their current belief system, or technology or whatever they are following is doing it wrong, or at least inefficiently they can become somewhat defensive of it. For example, I know a lot of people who complain about the fiat money system, but are completely hostile to Bitcoin simply because they don't understand it, and its trying to change what they are currently using.

This is why we have pioneers in almost every department. they are the ones that take on the challenge of furthering the development of these alien ideas, and in time make it simpler, and easier to understand, which in return increases adoption rates.

[stomachgrowls]

Each religion does have its own beliefs that should really be followed and i dont see anything wrong with it even though some said its nonsense but lets respect on whats
their take about this matter.

When we do talk about Islamic views on Bitcoin then it is considered to be Halal.

According to this article: https://decrypt.co/37286/is-bitcoin-halal

"However, like fiat currencies, simply holding Bitcoin as a means of payment and store of value are perfectly halal. Beyond this, using Bitcoin for any purpose that would be considered haram with fiat currency would also be considered haram with Bitcoin.""

Talking about fiat then it is just actually the same in terms on where i can possibly used.

[Twentyonepaylots]

I believe fiat currencies received the same hate as bitcoin did in the past, and what these people are saying is basically nonsense because the things they accuse bitcoin of inflicting to people are also applicable to fiat. If I were them, it would be better to support bitcoin instead across the countless signs of fiat's collapse, where bitcoin is the only viable solution to keep the society well-functioning in the future.

[Jawhead999]

When Bitcoin is accepted globally then it's already too late to hold Bitcoin, because the price has been surge and you lose the opportunity to multiply your money.

Haram and Halal, pretty much like this images


You can consider Bitcoin as Haram when you think "it's only a bubble" "that's for gambling" "that's ponzi" "this is speculate asset, speculation is haram" bla bla bla
You also can consider Bitcoin as Halal when you think "it's a currency and can be used for a payment" "it's a new commodities with new technology integrate with blockchain" "1 BTC = 1 BTC, it can't be changed" etc.

So, it's really depends on your thought and opinion.

AFAIK Pakistan (one of largest Muslim country) already accept Bitcoin, so it's a beginning it will be accepted on other Muslim country too.

[serjent05]

there is always difference of opinion everywhere, there is no reason to single out the religions.<snip>

Even in Christendom they were against this internet money and not only just single down to the Muslim only, but we were also told about the beast and it mark 666 in Revelation 13:16-18, so,” I think the truth is, it is still too early to be dogmatic”.

Sadly most religious leaders are hypocrites.  This reminds me of many religious leaders that spread the gospel of internet being a medium of evil thus making the internet evil and yet they are proven to be wrong since the internet now a day is being used as a source of their communication and way of spreading their doctrines so it is not surprising to see that they will look at BTC that way.  I would not believe on anything they say since many of their belief had been proven to be wrong when it comes to technology in relation to what they call evil.

[Kong Hey Pakboy]

The problem is that the doctrines in religions is they are not matching with the technology, especially Islam which is really strict with their doctrines to the point that it should follow the teaching bit by bit. I mean if bitcoin doesn't really have anything difference from fiat then I think that the rejection will repealed.

[cabron]

Things will change eventually, its the same with the big financial institutions, JP morgan spread fud about BTC but later they are not speculating it will reach up to a certain price like the very bullish among them.

In terms of religion, however, there could be some that they don't agree like the staking since they don't allow it. I  learned it from this thread https://bitcointalk.org/index.php?topic=5324612.0

[Kittygalore]

Things will change eventually, its the same with the big financial institutions, JP morgan spread fud about BTC but later they are not speculating it will reach up to a certain price like the very bullish among them.

If it is Islamic related thing, I think that a change will be difficult. Religion and business is different to a certain degree because you can't just side with someone easily with religion when that goes against your faith however businesses are like a scum of society where they will be friendly when there is money and interest involved.

[Anonylz]

there is always difference of opinion everywhere, there is no reason to single out the religions.<snip>

Even in Christendom they were against this internet money and not only just single down to the Muslim only, but we were also told about the beast and it mark 666 in Revelation 13:16-18, so,” I think the truth is, it is still too early to be dogmatic”.

"Too early to be dogmatic" are you indirectly or directly saying this religious leaders won't have a change of mind at some point!
It is one thing to be open minded and another to try and disregard others views and believes just because they don't go alongside yours,
This is a new technology that perhaps both religious are finding it difficult to put a better explanation to, I think it is too early to be judgemental.

[Mpamaegbu]

On the other side, “Most of the scholars said it is not allowed because it has not met the conditions.

In my early days in crypto as a noob I read the back and forth arguments on while Muslims shouldn't get themselves involved in crypto. One of the arguments that shocked me was someone likening Bitcoin to gambling. The proponents of that argument were of the opinion that there was so much risk involved investing in Bitcoin (as if every other businesses don't have risk associated with them). I guess those who argued that way must've seen through their ignorance by now.

while few scholars that accepted digital currency buttress their point that even the paper money was also rejected before it was accepted globally.”

Of course, they will later get through it and come to awareness of its relevance. There's that skepticism that confronts every invention. It's either there is a gang up from the old order against it or the ignorance of those the invention seeks to liberate becomes the problem. Bitcoin (cryptocurrencies) is gradually becoming popular now unlike what it was in the recent past.

Beyond all that, the uninformed stance of religious sects has also helped to backtrack the development of the crypto industry. While Muslims think it's gambling, most Christians think it's the coming of the "one currency government" of the Antichrist. All that is laughable, really.