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Pakistanis riding new cryptocurrency gravy train

TNT

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The only thing holding many of us back is whether its halal or haram. Unfortunately, the scholars are divided on this issue.

Would be nice if the government religious body declares it halal or haram. It will make the country's poverty situation a lot better.
As far as i have researched, it is halal.
Two extremes of earnings are haram in Islam that is ribah (interest) and gambling. Ribah gives u profit without any risk and thus is haram. Gambling gives u large profit but also a chance of totally losing ur capital, thats also haram. Crypto is neither ribah nor gambling, thus its halal.



There is this coin NU. I had it since a couple of months worth around 1000$. I sold it with 30℅ profit but a few days ago it jumped more than 800℅. I am still furious with myself, why didn't i hold it for few more days.
 

AZ1

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The only thing holding many of us back is whether its halal or haram. Unfortunately, the scholars are divided on this issue.

Would be nice if the government religious body declares it halal or haram. It will make the country's poverty situation a lot better.
Abusing govt is halal or haram? If anyone not give his income tax its halal or haram?

Does your brain think of such things or it start working to think only suit the benefit?
 

Sidacca

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There is this coin NU. I had it since a couple of months worth around 1000$. I sold it with 30℅ profit but a few days ago it jumped more than 800℅. I am still furious with myself, why didn't i hold it for few more days.
Can you please guide me through how to start it....? I don't even know the basics but I'm pretty interested to start it
 

King Julien

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Crypto can give some additional income to youth.. what's the problem?
All the world champion Muslims posting halal haram here have **** history on their device but here they are the next best version after prophet Muhammad 👀🙄
 

SecularNationalist

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And can these "respectable" scholars tell us how is cryptocurrency not any different from outright Capitalist currencies like the Dollars and the Euro ? Such so-called scholars should consider reading about past progressive thought among Muslims. I quote one such progressive scholar from about a 100 years ago :

Do these thoughtful findings from a 100 years ago fit with the "halal" cryptocurrencies these so-called scholars pronounce their ignorant fatwas one ?

We should seek to simplify life, not add to the already complicated socio-economic systems in most countries. These scholars you refer to should read this socio-economic proposal of mine.
In Islam you cannot make someone forcefully poor like in communism. And in communism people with extra talent , ability or hardwork are not awarded accordingly. Lazy dumb people get,s equal opportunities and lifestyle because of all the hard work done by talented,able people.
Last but not the least religion is discouraged in communistic societies whereas Islamic social system solely comes from religious teachings and Quran.
 

Sainthood 101

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In Islam you cannot make someone forcefully poor like in communism. And in communism people with extra talent , ability or hardwork are not awarded accordingly. Lazy dumb people get,s equal opportunities and lifestyle because of all the hard work done by talented,able people.
Last but not the least religion is discouraged in communistic societies whereas Islamic social system solely comes from religious teachings and Quran.
add in that Islam is among one of the most pro-business religions in the world
lots of religions had a negative outlook towards wealth, rich but not Islam
as long as you act in responsible manner, help the poor

You should do what you wish with you money, make as much money as possible

Communisms cant work in Islamic society controlled by bazaars and Mimbers
both are discouraged in communisms
 

_NOBODY_

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add in that Islam is among one of the most pro-business religions in the world
lots of religions had a negative outlook towards wealth, rich but not Islam
as long as you act in responsible manner, help the poor

You should do what you wish with you money, make as much money as possible

Communisms cant work in Islamic society controlled by bazaars and Mimbers
both are discouraged in communisms
Exactly, Islam is the most capitalist religion out there with a significant emphasis on welfare.
 

SecularNationalist

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Exactly, Islam is the most capitalist religion out there with a significant emphasis on welfare.
Well true to some extent but the Islamic capitalism is very different than the evil western capitalism we see today. Only a justified percentage of profit is Islamic capitalism unlike the profit west charge today . Look at their healthcare industry,arms industry and university fee for foreign students. Not at all justified .
 

AZMwi

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its all halal man ..... lol View attachment 786073
just because he is a fazlu fan, does not mean that he is wrong. it is a very old technique. if u put fish in alcohol it loses its alcoholic characteristics and becomes a vinegar. u can google it. u can also turn vinegar into alcohol again. u can also use fruits to turn alcohol into a vinegar as well. the word VINEGAR means sour wine.
And can these "respectable" scholars tell us how is cryptocurrency not any different from outright Capitalist currencies like the Dollars and the Euro ? Such so-called scholars should consider reading about past progressive thought among Muslims. I quote one such progressive scholar from about a 100 years ago :

Do these thoughtful findings from a 100 years ago fit with the "halal" cryptocurrencies these so-called scholars pronounce their ignorant fatwas one ?

We should seek to simplify life, not add to the already complicated socio-economic systems in most countries. These scholars you refer to should read this socio-economic proposal of mine.
mate cryptocurrencies are digital assets just like a piece of land or a house. and they are decentralised. which means no bank or govt can control them or have a monopoly on them. the Bitcoin was created to overthrow/challenge the current centralised monetary system.
 

jamahir

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In Islam you cannot make someone forcefully poor like in communism.
Poor ? What does that mean ? In my proposal that I linked the socio-economic system will ensure all citizens have equal and comfortable access to all basic and non-basic needs / resources in a simple manner. That should be all there is to it. Please re-read that proposal.

add in that Islam is among one of the most pro-business religions in the world
lots of religions had a negative outlook towards wealth, rich but not Islam
Exactly, Islam is the most capitalist religion out there with a significant emphasis on welfare.
Hinduism, at least the non-original one, has even a god for wealth / money ( Kuber ) and a goddess for the same reason ( Lakshmi ). Hinduism is the most Capitalist culture in the world. Consequently, India has been so for the last 3000 years and this has led to such atrocities as suicide of 350,000+ Indian farmers just between 1995 and 2015. And people dying or suffering of hunger, curable ill health, indebtedness etc. Below are my threads about this topic :

Let us not jump to include Islam into such a traditional vile concept like Capitalism which causes injustice and artificial deprivation. Please re-read that section I quoted about that Islamic scholar from a 100 years ago. It is from an article by Pakistani journalist Nadeem Paracha about Socialist and Communist activism among Muslims since the early 1900s.

Only a justified percentage of profit is Islamic capitalism unlike the profit west charge today . Look at their healthcare industry,arms industry and university fee for foreign students. Not at all justified .
Indeed.

mate cryptocurrencies are digital assets just like a piece of land or a house.
Well, it can be a further discussion in this thread that land should not be privately owned.

and they are decentralised. which means no bank or govt can control them or have a monopoly on them. the Bitcoin was created to overthrow/challenge the current centralised monetary system.
It may be decentralized but how is it different from the Capitalist Dollar, Euro, Riyal and Rupee ? Does it work out of the bounds of Capitalism in the world ? Please read my proposal on how a just and progressive economic system should be.
 
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