Is Bitcoin Sunnah Money?

[leopard2]

Just found this by coincidence, an interesting read though

http://www.maxkeiser.com/2013/04/is-bitcoin-sunnah-money/

Now should Islamic countries ever decide that Bitcoin is less haram than USD, and accept it for oil & gas, that alone would suffice to give BTC a 10-100x boost or not?

UH-OH:

[apsvinet]

Quite interesting read, thanks for linking.

[grifferz]

As if there is not already enough mental illness associated with the bitcoin community, we now have to bring religion into it?

What next, is it kosher to perform a bitcoin transaction on the Shabat?

[5w00p]

It's Stunnah Money.

[zimmah]

Just found this by coincidence, an interesting read though

http://www.maxkeiser.com/2013/04/is-bitcoin-sunnah-money/

Now should Islamic countries ever decide that Bitcoin is less haram than USD, and accept it for oil & gas, that alone would suffice to give BTC a 10-100x boost or not?

UH-OH:

definitely, I'm not sure if they consider BTC to be haram or not haram. or 0.5% haram or whatever but fact is many of the OPEC countries prefer to not use the dollar, but they are kind of forced by the US military, as has been proven time and time again when a country tried to bypass the dollar.

The USA is losing their grip however, and soon they will use all kinds of currency, most likely they'll trade oil for commodities and/or gold, but once they realize bitcoins are as good as gold, but more easily transacted, they may choose to transact in bitcoin for ease of use.

[bryant.coleman]

There is already an Islamic Bank of Bitcoin.

https://bitcointalk.org/index.php?topic=21732.0

And from what I've heard, the are doing really good.

[notbatman]

has anybody sent opec an email and asked them if they're willing to accept bitcoins for oil? i can just imagine the all the excitement this would cause if they said yes.

[bryant.coleman]

has anybody sent opec an email and asked them if they're willing to accept bitcoins for oil? i can just imagine the all the excitement this would cause if they said yes.

Ask the Iranians. They might be more interested. They are trying really hard to circumvent the US / EU sanctions. Bitcoins present an ideal opportunity for them to convert their oil to cash.

[gagalady]

WE are far from this and i don't think that bitcoins will be accepted for oil and other earth resources in near future. But if bitcoin will get more and more recognized, who knows maybe one day it will be used for every market.

[fatnlovelyfred]

I'll use this picture in my site if you do't mind

[honorem]

Islam said gold and silver has value and they where right, if islam really says that bitcoin is Islamic then it must be good.....

[Honeypot]

You mean expect everyone else to watch bitcoin like a hawk and crack down on it for funding islamic activities, which is incompatible with everyone else on the face of the planet - the chinese, russians, indians, europeans, US and its allies, etc.

Not even africans will allow themselves to face that trap now that they know islamic influence is full of lies and racial biases reaching back 3000 years of black women slavery.

Also, lol.

It's Stunnah Money.

[Honeypot]

Islam said gold and silver has value and they where right, if islam really says that bitcoin is Islamic then it must be good.....

Rest of the world kind of decided that before islam came into existence. Trying to rip off others again? Fuckin bitches...

[apsvinet]

Islam said gold and silver has value and they where right, if islam really says that bitcoin is Islamic then it must be good.....

I can already picture the headlines in the american newspapers.
"BITCOINS BEHIND 9/11. CRYPTO CURRENCY USED BY THE TERRORISTS IN THEIR WAR AGAINST FREEDOM."

[Honeypot]

Islam said gold and silver has value and they where right, if islam really says that bitcoin is Islamic then it must be good.....

I can already picture the headlines in the american newspapers.
"BITCOINS BEHIND 9/11. CRYPTO CURRENCY USED BY THE TERRORISTS IN THEIR WAR AGAINST FREEDOM."

Maybe you should take a look at sharks and tourism conspiracy theories that passes for journalism in 'intelligent' muslim news papers before bitching and moaning

[apsvinet]

Islam said gold and silver has value and they where right, if islam really says that bitcoin is Islamic then it must be good.....

I can already picture the headlines in the american newspapers.
"BITCOINS BEHIND 9/11. CRYPTO CURRENCY USED BY THE TERRORISTS IN THEIR WAR AGAINST FREEDOM."

Maybe you should take a look at sharks and tourism conspiracy theories that passes for journalism in 'intelligent' muslim news papers before bitching and moaning

Hm? Butthurt American is trying to prove what point? Give some examples, please do.

[jparsley]

I dont think  they will consider using virtual money 'yet.

[apsvinet]

I dont think  they will consider using virtual money 'yet.

Just like the reset of the world then? Probably not, I agree.

[leopard2]

It is probably not Sunnah money because it lacks intrinsic value. 

Still, BTC is much closer to Sunnah money than fiat currency, due to the proof-of-work behind it whereas fiat money is created from thin air. Maybe the crytographic work in each cryptocoin is some sort of intrinsic value, too?

In the case of Primecoin that work is even useful.

[nuff]

has anybody sent opec an email and asked them if they're willing to accept bitcoins for oil? i can just imagine the all the excitement this would cause if they said yes.

I hope to see that one day. that will concretely mark end of fiat and the recognition of crytptocurrency