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Highly recommend to read this article by Harris Irfan https://www.linkedin.com/pulse/gods-money-fix-world-harris-irfan
Also, Saif has spoken extensively on this topic; check out his podcasts with Harris, Safdar Alam, and a few others. Muslim Bitcoiner is also a great follow
Great many thanks.
Yes, my understanding is that Bitcoin is halal. However, in my understanding as a layperson, the default ruling for “worldly” matters is one of permissibility; one needs powerful evidence to declare something as forbidden.
I like Bitcoin for multiple reasons but here are a few:
It aligns with a societal need for a reliable store of value without negative externalities, a fair unit of account, a mechanism to counter the concentration of power.
I don’t buy in to the Bitcoin presents an alternative to the current interest based monetary system but I appreciate its appeal when marketing Bitcoin to Muslims.
Ah yes, these are good points - many thanks.
I'd heard of the first one in the past but had forgotten this.
I had the idea of doing some research exploring each faith's view of Bitcoin to write a post in the future. Its always interesting to see Bitcoin through a different lens.
But, I feel it would be better for it to came from someone with something more to say than myself...
Obviously, if your answer proves to be lengthy, consider creating a new post - more eyes will see it and more efficient for you.
Islam and Judaism are said by some to be closer in some aspects than Judaism and Christianity. Largely, I believe, due to both being Abrahamic. But I'm pretty ignorant on all this...
I read that in Judaism there's the question as to whether miners, and even full nodes, can work on Shabat (Sabbath) - some rabbi's say they're like clockwork (so okay), others claim they're not allowed.
https://decrypt.co/6639/jewish-shabbat-passover-sabbath-bitcoin-rabbi-mining
By your nym I'm guessing that you consider Bitcoin as halal - is that universally accepted in Islam? If not, can you expand what the sticking points are?
Thanks.