What happens when new altcoins encourage religious, political and other agendas?

[jrrsparkles]

This is 21st century so deciveving people with the name of political or religious thoughts to scam money from them is not that easy and as per some Islamic countries any kind of cryptocurrency is against their laws then how can they say if they create one for their own its allowed? The laws applies to everything and anyone with common sense would not fall for such stupid scams.

[1714862883]

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[jacafbiz]

Any coin or token trying to promote one religion, political party, or sentiment, and other stupid agendas which always cause division in the society will end up a failed project. I don't understand why someone would want to play this part, it is against everything Bitcoin and crypto stand for, money is money everywhere so why do you need to start causing division because you want to please one part of society or you want to encourage some partnto use crypto or you want to please another section of the community. This one for me is dead on arrival

[Luffygroove]

I came across a hybrid exchange project a few days ago that follows the Islamic principle of mudarabah (which indicates a revenue cooperation wherein one party contributes funds while the other party supplies skills and employment), eschewing staking and future trading, which are prohibited in Islam due to the haram nature of interest; though not exclusively for Moslems, the developers hope to attract them to invest in a shariah-compliant crypto project, but actually  this concept provides protection for all investors (either Moslem and Non-Moslem) as profit shares and spot trading are less hazardous than staking and future trading. I believe the reason for the existence of such projects is because the Islamic viewpoint has its own guidance in financial aspects and investment, which is why some Moslem Developers want to attempt to develop a project that goes along with their beliefs.

[DapanasFruit]

I don't have details on Islamiccoin but I can sense this is not started by any religious organization but by someone or a group who just want to  be taking advantage of the sympathy they can get from those belonging to Islam. In other words, this can soon turn out to be just another failed project because it is not getting the interest from a critical number of people or worst it can just be another scam whose developers will evaporate once they got the money they need. We have to be careful as we are in a scam-laced industry.

[Silberman]

Any coin or token trying to promote one religion, political party, or sentiment, and other stupid agendas which always cause division in the society will end up a failed project. I don't understand why someone would want to play this part, it is against everything Bitcoin and crypto stand for, money is money everywhere so why do you need to start causing division because you want to please one part of society or you want to encourage some partnto use crypto or you want to please another section of the community. This one for me is dead on arrival

I do not think the scammers behind this coin have any other aim but to make money out of naive investors, as we know money is nothing more but a tool that was created by humans to facilitate trade among us by giving us a common unit we could exchange for the goods we need and want, so any attempt to try to twist the reason for money to exist will always fail, as any form of money that is tied to some kind of religious or political identity will always fall behind to a form of money that does not hold those restrictions.

[beerlover]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive?
What happens when other religions and political offices and even other sections of power launch their own coins?
I know most already exist, is this move more to empower followers of such beliefs with a future proof and profitable financial instrument and should be encouraged or will this cause an even further divide with evolutionary complications?
Uganda is one of the nations who has embraced this development and is championing the cause to help their Muslim community redefine themselves through entrepreneurship and investment in both cryptocurrency.

It's just another hype attempt, a buzzword attempt and nothing more. Just like how people used "NFT" for a while to get the attention of investors and that is why it becomes a bit more like hyped and gets money. Same was for defi, or memes or anything else really, it was just buzzword and people invested because those things were hyped during that time.

However, when you look at this, it's Islam, or political stuff, or whatever else, those are all hype words for crypto devs as well, "if 3% of Islam world invests", is that it? Like what's the idea behind it though, why would the Islam world invest into it? What's the reason that would make them even invest? Just because it would be big if they do, then they should? Makes no sense.

[fvb]

This has already happened and this is not the first time I have seen such a topic in the last few years. In particular, the offer of tokens with a religious bias and the offer from the project, I don’t remember the name now. There was a proposal specifically for Muslims according to Sharia. And later nothing more was heard about the project, that is, it turns out that it was not in demand. In my humble opinion, this is a failed idea to mix religion with trade, these are very different things and one contradicts the other.

[TribalBob]

I don't think the concept of religious coins will be fully successful, because the founders of these coins are just people who are hungry for money (does not rule out other new coins like this), in my country there were coins with religious elements yesterday when they collapsed, there was no response accountability like they are just starting out. and now their coins are totally dead until this moment there is no clarity, just the word, saving on the Day of Resurrection for forgiveness

[Huppercase]

This is not the first project to this, if you cross check the coin market cap, you will see many of them like this. What I see from this projects are nothing but pure influence to get rich, check that team very well, the team should be comprises of muslim community because they think the fastest way to get people to buy or sold out their coins is through influencing and religion is one of them, they think using of muslims will fasten their sells but most of this type of projects end up or dies 6 month after launch because they don't have anything, just hype and hype, no tech for the long run.

[D ltr]

This is not the first project to this, if you cross check the coin market cap, you will see many of them like this. What I see from this projects are nothing but pure influence to get rich, check that team very well, the team should be comprises of muslim community because they think the fastest way to get people to buy or sold out their coins is through influencing and religion is one of them, they think using of muslims will fasten their sells but most of this type of projects end up or dies 6 month after launch because they don't have anything, just hype and hype, no tech for the long run.

yeah i see , before there were coins whose concept was sharia according to religious rules, but somehow it went on, or they changed names or whatever, sometimes I was confused why people brought religion to achieve the goal of worldly pleasures, as we know crypto is something that is not legalized because it is not in accordance with religious sharia, but they make coins in the name of religion,

[FairUser]

There's actually a lot to discuss about this, but I just wanted to express some of my own thoughts on the relationship between religion and the economy.
We can see in the world there are many different religions, and unfortunately from the historical stories that make it impossible for us to harmonize and separate the competition, it makes people have many limitations on their freedom. from thoughts and life around. What I don't feel comfortable with is the confusion between religion and human development and progress, not the competition of any ideology here, and here the economy is also being politically controlled influence religious issues.

[CarnagexD]

I think it's natural to happen because when you think through it, everything is political, including religion and cryptocurrencies. People will disagree but we have to still respect each other by finding our common grounds and hearing everyone's thought like having this kind of forum.

What I don't feel comfortable with is the confusion between religion and human development and progress, not the competition of any ideology here, and here the economy is also being politically controlled influence religious issues.

There is even a law in our country that separates the church and the state but it is inevitable for people to associate the two since those can be encountered and considered in everyday life.

[DevFile90]

There is no purpose behind such projects, and if I ever come across them I won't invest my money, because we are here to make some money, and religious ideas shouldn't be diverted into crypto from the start, people who have such a mindset are those that are not in the right state of mind, they are probably trying to start something they believe would work, religious purposes should be apart and should not be brought into crypto.

[uneng]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive?

Speculators trying to create a hype around a niche of society, which can proportionate them a loyal base for profit reasons.

What happens when other religions and political offices and even other sections of power launch their own coins?

In crypto universe it has never worked for real. There were and there are several attempts, but none of them are able to get enough support to become considerably influent and popular.

I know most already exist, is this move more to empower followers of such beliefs with a future proof and profitable financial instrument and should be encouraged or will this cause an even further divide with evolutionary complications?

I believe there aren't strong principles, morals and goals behind such projects. It's simply a marketing strategy by developers to make profit for themselves. The world is already divided, anyway. It's not a cryptocurrency which is going to make this division worse.

[AakZaki]

There's actually a lot to discuss about this, but I just wanted to express some of my own thoughts on the relationship between religion and the economy.
We can see in the world there are many different religions, and unfortunately from the historical stories that make it impossible for us to harmonize and separate the competition, it makes people have many limitations on their freedom. from thoughts and life around. What I don't feel comfortable with is the confusion between religion and human development and progress, not the competition of any ideology here, and here the economy is also being politically controlled influence religious issues.

Throughout human history, the existence of various religions has led to clashes that can hinder free thinking and daily living. The overlap between religion and human advancement, coupled with political interference, is a source of concern. Economic developments can also be impacted by religious issues. Understanding this is crucial because it directly affects people's lives. Consequently, a detailed and reflective conversation is essential to recognize and tackle the religious and economic relationship's impact.

[FairUser]

There's actually a lot to discuss about this, but I just wanted to express some of my own thoughts on the relationship between religion and the economy.
We can see in the world there are many different religions, and unfortunately from the historical stories that make it impossible for us to harmonize and separate the competition, it makes people have many limitations on their freedom. from thoughts and life around. What I don't feel comfortable with is the confusion between religion and human development and progress, not the competition of any ideology here, and here the economy is also being politically controlled influence religious issues.

Throughout human history, the existence of various religions has led to clashes that can hinder free thinking and daily living. The overlap between religion and human advancement, coupled with political interference, is a source of concern. Economic developments can also be impacted by religious issues. Understanding this is crucial because it directly affects people's lives. Consequently, a detailed and reflective conversation is essential to recognize and tackle the religious and economic relationship's impact.

I am a non-religious person but I have studied some of the major world religions, and I realize that the earth is our common home but we are dividing it and keeping it apart. In the context of an increasingly developed society, perhaps hidden information and knowledge will gradually be exposed. And society will have changes and there will be things in common to bring people together, I have researched about Buddha Dharma and I see some philosophies that uphold truth and equality among all births are upheld. And I firmly believe that if anyone can see and understand that, to apply it, the competition will gradually disappear, and we will build a cleaner planet in all aspects.

[coin-investor]

Not really new, in the past, we have coins created for idealism, for countries for heroes for influencers for president we know scammers, will create a project to target a specific community or sector so they can easily influence them to join and invest but after the shilling and the hype, the developers behind this specific type of coin will stop developing their project because they already profited and they are on the next coin.

Investors should be wise enough to see the history of how altcoins evolve, if they are not offering a platform that can benefit the community then it's not worth investing in it, the platform should be open to all that can be embraced by the Cryptocurrency industry, not just one specific interest.

[AakZaki]

I am a non-religious person but I have studied some of the major world religions, and I realize that the earth is our common home but we are dividing it and keeping it apart. In the context of an increasingly developed society, perhaps hidden information and knowledge will gradually be exposed. And society will have changes and there will be things in common to bring people together, I have researched about Buddha Dharma and I see some philosophies that uphold truth and equality among all births are upheld. And I firmly believe that if anyone can see and understand that, to apply it, the competition will gradually disappear, and we will build a cleaner planet in all aspects.

It seems that you are only looking at it from a religious point of view. I do not care if you are religious or not and also do not need a detailed explanation of the religion you are studying. The context that we are discussing this time is the relationship between religion and the economy, not just about religion. I just want to hear opinions on what the relationship between the two is.

[kelonmusk]

Regarding the potential launch of religious coins, it is important to consider both the benefits and drawbacks. While it could be seen as empowering followers of specific beliefs and offering them a future-proof financial instrument.

I mean, it could also lead to further divides and complications in the financial world, as well as raise questions about the appropriateness of mixing religion and finance.

However, the case of Uganda has shown that religious coins can also be a tool for entrepreneurship and investment among the Muslim community.

Im my opinion, it is up to individuals and institutions to weigh the potential benefits and drawbacks and make informed decisions about the launch of religious coins.

[Fundamentals Of]

In all fairness, everybody can create a token for certain purposes. I don't think there is really something wrong with that for as long as their goals and objectives aren't illegal, and there is no one or nothing that is deceived or unfairly taken advantage of.

During the months or years when ICO was very popular, the idea of tokenization has really pushed companies and all kind of developers to create tokens. What made them fail eventually was the fact that most of them were absurd, or at least not really a timely, necessary, or even a good idea. Worse, many are obviously scams.

This is the same opinion I have with this new altcoin. I think this is irrelevant or even created to make money out of thin air, as always at the expense of innocent supporters.