Edited: How To Make Bitcoin Profit - Tell To Arab People - It Is Haram

[Plaguedeath]

There is also nothing wrong with trading or with interest. Some people are confusing interest with Riba (closest translation is Usury). It is basically "unjust, exploitative gains made in trade or business", although Wikipedia is not the most accurate article but you can read about it here: https://en.wikipedia.org/wiki/Riba

You're correct, this what Riba is. But if you're visit to a country where vast majority are Muslims and you said interest or Bitcoin is halal, they will criticize you and not want to hear what you're going to say. They have a thought where Bitcoin is haram because having no physical appearance and interest is always related to immoral, so you wouldn't able to win against them.

If I lend someone for $1,000 with 10% interest rate for the next 30 days which is he should pay back for $1,100, it's not Riba/Usury.

But if I lend someone for $1,000 with 10% interest rate for the next 30 days, but he can't pay back during 30 days and then I give punishment for overdue day(s) he need to pay +$50/day, this is Riba/Usury since there's no agreement for late payment.

[Odohu]

Inasmuch as I wouldn't want to get involved in a sensitive discussion such as you have brought, I don't really know how the entire Arab people dumping Bitcoin will lead to price rise. Beside, do we really need people to sell their Bitcoin or we want more people to get involved? I am really seeing some contradictions that need clarification in this posts.

I see the OP as a person that thought he did not invest when the price of bitcoin was low and still which to invest at a lower price. That kind of thinking can make someone to think like him.

It makes sense to me now because I couldn't understand the angle he was coming from. Obviously he missed buying Bitcoin when it was cheaper, now he is looking for a way and people that will join him in spreading fud so that the price cab dump for him to buy.
The forum is actually a good place to recruit agents for that misinformation but what he forgot is that many people have developed thick skin as far as Bitcoin is concerned. More people are already well positioned for what is coming.

[CageMabok]

Tell all arab people, also here in the forum, that Bitcoin trading is haram. So they will start to sell it and Bitcoin price will be lower. Then you can buy it, and after the time Bitcoin price will be higher again, so you can profit.
As we know in Egypt, Islamic advisory body make the decree, that crypto, also Bitcoin is haram ( prohibited by Islamic law).
Egypt Islamic advisory decree: https://venturesafrica.com/why-is-morocco-walking-back-on-its-crypto-ban/

I have also made a study about the halal and haram of Bitcoin for a long time because I live in a Muslim-majority environment. However, after I studied it in depth and also asked the Islamic religious advisor here by giving quite logical and concrete examples, it turns out that Bitcoin is not haram even though it is not stated to be halal. Because what makes something haram is the wrong use according to each religion, so the religious leaders here put Bitcoin as a very neutral asset which is not said to be halal and is also not directly forbidden unless it is used for wrong work according to religious teachings.

This means that we all cannot forbid something without a clear reason because if someone buys Bitcoin and keeps it as an investment, I think that person is not wrong. Because most Muslims currently also keep gold as their own investment, this is not much different from Bitcoin investors today. Meanwhile, Bitcoin traders in the market are also like that, where they should not be blamed for no reason because they are only looking for a little profit like other traditional traders in the people's market.

[kryptqnick]

Islam is not my religion, but I find the op's idea very insensitive and problematic. It's quite wrong to target a group based on their ethnic and religious identity in order to make profit. I've seen different assessments of whether Bitcoin is actually haram, and a simple google search allows to easily see that there are different people who suggest different interpretations. It's not my place to analyse who are right and who are wrong in this situation, I think that believers should decide for themselves whose voices are authoritative for them in this regard.
Moreover, when people dump a currency, it drives it down. I don't know how many Muslims currently use Bitcoin, but Islam is a huge religion that has almost 2 billion believers. So even if we set aside the ethical matter I described above, if so many people decide to stay away from cryptos altogether, it can seriously limit its further growth and be a huge hit to the price.

[inthelongrun]

Not all Arabs are Muslims, mate. I do not want to dig deeper since I am not a Muslim. One thing is clear though, bitcoin is just a decentralized digital currency like the Egyptian Pound or the Saudi Arabian Riyal. There are actually big exchanges in Turkey, Indonesia, etc. so maybe it depends on the country and its interpretations on bitcoin.

Bitcoin won't give you interest either like stock dividends. Bitcoin's value can increase or decrease just like an ordinary currency of a certain nation. If the issue is bitcoin's meteoric rise during bull runs, there were also times when its price dropped big time. The same with the Turkish Lira when its value dropped big time several years ago. If bitcoin can be mined then so is gold and other precious metals and minerals.

[Webetcoins]

This is supposed to be a secret but you revealed it so they already know your plan . But even if you did, I think it's not easy to convince them that easily. Pretty sure that those guys already did their research and find out the real truth about BTC or the status of it on their country. That makes them to buy and HODL it up until now.

Don't worry, this might still be effective for those who are weak and less knowledgeable Bitcoin users (not specific only to the Arab people). But instead of it this, why not encourage more people instead to join Bitcoin? You can still make a profit that way and the best part is that no one will get angry about you and you won't get a bad karma.