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View Full Version : Cryptocurrency Proof of Stake is Halal or Haram? Why?



milhan
08-03-2017, 09:05 PM
Assalamu alaikum,

Cryptocurrency Proof of Stake is Halal or Haram? Why?

You can get more details on following sources

https://en.wikipedia.org/wiki/Proof-of-stake

It's similar as dividend or bonus shares for those who owned stocks or cryptocurrency tokens.

Looking forward an advisory of Fathwa
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abu7ouda
10-24-2017, 08:38 AM
I hope there is a fatwa.
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coinisyou
11-28-2017, 09:00 AM
I found this for POS

Are you 100% sure that it's haram? I'm not 100% if it's haram or halal.

But there is also a System called Proof of Stake (PoS).
The transaction confirmations are not done with hardware but with already owned coins.
An amount of your coins are on the stake, while they are used for staking. That depends a little on the implementation.
But basically you get a certain percentage of your coins as a reward.
Some people think, they can "earn" here, but that's nonsence, because if the market cap stays stable, the single coins are worth less, if new coins are generated. So you just "keep" your value, if you are staking. And "loose", if you are not...
Its like in a bank if you get 2% interest and the inflation is 2% as well.
You only "earn", if there are transaction fees and if those are also payed to the staker.
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coinisyou
11-28-2017, 01:58 PM
If something is insecure you should keep your hands off it. Staking is exactly that. Islam has to be taken seriously! We can not just say haram or halal and that's it. No one knows if Staking is haram or halal, so we'd rather stay away until a "real scholar" gets it right, many of them nowadays take it easy with faith. We have to research our religion! Youtube can be ok but there are also munafiks.
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