Cryptocurrency, Bitcoin, Investments & Halal Finance (Ft. Shaykh Muawiyyah Tucker)

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It’s been almost 2 months since I got recommended this video, now I’m more than halfway through and I’m already subscribed to the sheikh’s channel.

This will be a nice intro to those who are new to crypto and or to those who want to gain more Islamic perspectives.

I liked how he simplified proof of work and proof of stake through an Islamic lens, it’s pretty interesting that proof of work is more Islamic than proof of stake but both are halal. So are crypto liquidities through decentralized exchanges (pancakeswap):wowsweat:
 

Imam Gurey

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It’s been almost 2 months since I got recommended this video, now I’m more than halfway through and I’m already subscribed to the sheikh’s channel.

This will be a nice intro to those who are new to crypto and or to those who want to gain more Islamic perspectives.

I liked how he simplified proof of work and proof of stake through an Islamic lens, it’s pretty interesting that proof of work is more Islamic than proof of stake but both are halal. So are crypto liquidities through decentralized exchanges (pancakeswap):wowsweat:
The video is too long akhi, could you summarize the main points?
 

QueenofKings

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This is gonna be interesting to listen to coz I’ve heard people argue passionately for and against crypto from a religious perspective.
 

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The video is too long akhi, could you summarize the main points?
The sheikh expands on how we live in a society where riba/interest is almost impossible to escape, it all boils down to the fiat systems being an interest based system. Even if we aren’t directly engaging in it, we can’t escape it’s claws. Paper hasn’t been backed by gold and silver since the time of president Nixon so in a nutshell it’s being printed Willy nilly…you should know that, “Over 40% of the Money US has EVER printed in its history was printed in 2020”


Bitcoin is a proof of work system where you have to show efforts by mining coins where everyone is on equal footing since it’s inception. Even Satoshi was mining like everyone else unlike ethereum where creators 60% of the coins which they pre-mined and cardano which has proof of staking that’s based on the more you have the more ada you’ll be rewarded when you stake. Bitcoin is the most Islamic friendly coin/currency out of all of them.
I’m not doing the sheikh justice so I’ll leave this at...

The sheikh’s overarching advise which is not a financial advice is to dollar cost averaging our lacag by buying Bitcoin every month regardless of it’s price so that we can make hijrah out of the west and live in Muslim lands like Malaysia, Turkey and Dubai where we can escape this chaos within 4 to 5 years.

***I made it more complex than it actually is, you should watch the clip for a better understanding***
 
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I haven't looked into the bitcoin at all and am as novice as any layman can be, but here is my question: Isn't Bitcoin an electronic money? If it is, it is a haram money, in my view. Any currency that is not based on gold and silver is fraudulent. That what Muslims should understand.

Mu'ammar Gaddafi printed gold and silver as his country's currency. Guess what, the west invaded Libya, overthrew his regime, murdered him, and imposed an anarchy on Libya in order to set an example for any government who defies their fraudulent money. Bitcoin is just an extension of the scam.
 

abwaan 4upac

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I haven't looked into the bitcoin at all and am as novice as any layman can be, but here is my question: Isn't Bitcoin an electronic money? If it is, it is a haram money, in my view. Any currency that is not based on gold and silver is fraudulent. That what Muslims should understand.

Mu'ammar Gaddafi printed gold and silver as his country's currency. Guess what, the west invaded Libya, overthrew his regime, murdered him, and imposed an anarchy on Libya in order to set an example for any government who defies their fraudulent money. Bitcoin is just an extension of the scam.
he also said many statements of shirk so he's not a good example
 

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I haven't looked into the bitcoin at all and am as novice as any layman can be, but here is my question: Isn't Bitcoin an electronic money? If it is, it is a haram money, in my view. Any currency that is not based on gold and silver is fraudulent. That what Muslims should understand.

Mu'ammar Gaddafi printed gold and silver as his country's currency. Guess what, the west invaded Libya, overthrew his regime, murdered him, and imposed an anarchy on Libya in order to set an example for any government who defies their fraudulent money. Bitcoin is just an extension of the scam.
Watch the video, it might answer your question :cheers:
 
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