× Register Login What's New! Contact us
Results 1 to 9 of 9
  1. #1
    farhan's Avatar
    farhan is offline
    If you can read this please remember me in your duas :P

    Join Date
    Jun 2012
    Location
    United Kingdom
    Gender
    Male
    Religion
    Islam
    Posts
    6,840
    Threads
    1029
    Reputation
    31584
    Rep Power
    64
    Likes (Given)
    2186
    Likes (Received)
    6096

    CryptoCurrency in Islam

    Report bad ads?



    Nevertheless, returns on Bitcoin investment would be lawful and Shariah compliant according to this understanding.
    http://darulfiqh.com/bitcoin-shariah-compliant/

  2. Report bad ads?
  3. #2
    Misbah-Abd's Avatar
    Join Date
    Jan 2018
    Location
    Darul Kufr
    Gender
    Male
    Religion
    Islam
    Posts
    495
    Threads
    7
    Reputation
    767
    Rep Power
    9
    Likes (Given)
    120
    Likes (Received)
    311

    Re: CryptoCurrency in Islam

    Nevertheless, returns on Bitcoin investment would be lawful and Shariah compliant according to this understanding. However, the global Islamic finance bodies and expert Shariah scholars are in the best position to offer the most accurate advic

    I have my doubts about this type of currency. It is just like fiat paper currency that faces market fluctuations and not a good currency for the preservation of wealth. Only gold and other precious metals fulfills that role. And there never has been any other currency besides precious metals that didn't collapse in human history.
    | Likes Scimitar liked this post

  4. #3
    Zzz_'s Avatar
    Join Date
    Jul 2017
    Gender
    Male
    Religion
    Islam
    Posts
    542
    Threads
    12
    Reputation
    1108
    Rep Power
    0
    Likes (Given)
    228
    Likes (Received)
    281

    Re: CryptoCurrency in Islam

    it is not permissible to trade with it.

    http://dusunnah.com/video/the-ruling...an-ar-ruahyli/

  5. #4
    beleiver's Avatar
    Join Date
    Feb 2017
    Gender
    Male
    Religion
    Jedi
    Posts
    224
    Threads
    7
    Reputation
    330
    Rep Power
    0
    Likes (Given)
    172
    Likes (Received)
    85

    Re: CryptoCurrency in Islam

    Thank you for starting this thread i was on the cusp of doing so my self..

    I will look later at the links to what the scholarly opinion is later, and the one opinion i heard so far from a Scholar i actually admire is that it comes from the anti christ (daajal?) which i am not so sure though admit possible..What i dont think they are aware is its not just a form of money but a public Leger that can record transaction and is now developed so that ledger can record contracts , form a system of trust , consensus and automatically divide shares among participants among many other things i can hardly get my little head round..
    Now when i read the koran and especially the verse prohibiting usury which then goes on to state how to please God by recording contracts..Crypto to me seems very compatible with Koranic values and is a god send in this world of fiat usury we live as it is not debt based and does not incur usury.

    I have been a crypto user for a long while my first btc was only 10euro allamdulala and i gained most by selling my own wares when it was around that price, the day my daughter was born i received a paper address in the form of a check from the Islamic bank of bitcoin This was years ago the website was never properly developed and is now off line but the thread still lives in the bitcoin talk forum..

    Crypto is money so will attract criminals, the greedy , selfish speculators, the scum of the earth like all forms of money will, but the basic concept has so so many good uses if only good people were to use and develop it for the good causes..Crypto gives humanity a new choice other than the fraud that is the modern financial system.

    But i must admit i have been trading it which though profitable is probably one of my biggest sins, i dont need a Scholar to tell me this..I think without daily prayers i would of lost my mind
    Last edited by beleiver; 02-03-2018 at 10:37 AM.

  6. Report bad ads?
  7. #5
    Zzz_'s Avatar
    Join Date
    Jul 2017
    Gender
    Male
    Religion
    Islam
    Posts
    542
    Threads
    12
    Reputation
    1108
    Rep Power
    0
    Likes (Given)
    228
    Likes (Received)
    281

    Re: CryptoCurrency in Islam

    I don't think it is a sin. It is just not permissible because it doesn't have any government backing and security. It would become permissible should that change. As for the anti-dajjal system, not everything is anti-dajjal or this or that, sometimes its just a simple reason of things.

  8. #6
    Scimitar's Avatar
    Join Date
    May 2011
    Location
    DAWAH DIGITAL HQ
    Gender
    Male
    Religion
    Islam
    Posts
    7,396
    Threads
    136
    Reputation
    50533
    Rep Power
    82
    Likes (Given)
    8614
    Likes (Received)
    6196

    Re: CryptoCurrency in Islam

    Quote Originally Posted by Zzz_ View Post
    I don't think it is a sin. It is just not permissible...
    if it's not permissible - then it's a sin!
    CryptoCurrency in Islam


  9. #7
    Reminder's Avatar
    Join Date
    May 2016
    Gender
    Male
    Religion
    Islam
    Posts
    292
    Threads
    46
    Reputation
    1114
    Rep Power
    0
    Likes (Given)
    103
    Likes (Received)
    136

    Re: CryptoCurrency in Islam

    Fiat money (paper bills & coins) is a bigger sin than cryptocurrency.
    | Likes beleiver liked this post

  10. #8
    Scimitar's Avatar
    Join Date
    May 2011
    Location
    DAWAH DIGITAL HQ
    Gender
    Male
    Religion
    Islam
    Posts
    7,396
    Threads
    136
    Reputation
    50533
    Rep Power
    82
    Likes (Given)
    8614
    Likes (Received)
    6196

    Re: CryptoCurrency in Islam

    CryptoCurrency in Islam


  11. #9
    Abz2000's Avatar
    Join Date
    Jan 2011
    Location
    Around the bend from Venus - Just before Mars
    Gender
    Male
    Religion
    Islam
    Posts
    5,260
    Threads
    150
    Reputation
    45416
    Rep Power
    79
    Likes (Given)
    3768
    Likes (Received)
    2863

    Re: CryptoCurrency in Islam

    Trollstation

    Bitcoin glued to the ground





    At least he got some real metal lol
    CryptoCurrency in Islam














  12. Hide
Hey there! CryptoCurrency in Islam Looks like you're enjoying the discussion, but you're not signed up for an account.

When you create an account, we remember exactly what you've read, so you always come right back where you left off. You also get notifications, here and via email, whenever new posts are made. And you can like posts and share your thoughts. CryptoCurrency in Islam
Sign Up

Similar Threads

  1. Replies: 3
    Last Post: 11-28-2017, 01:58 PM
  2. Replies: 0
    Last Post: 02-19-2017, 06:11 PM
  3. Replies: 2
    Last Post: 09-24-2011, 04:23 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
create