Is Crypto investment Haram?

[kakamuna420]

So few cryptos like Dodgecoin etc lately became popular, some of you who follow cryptos would know all about how Elon Musk and SNL live were creating all the hype. I bought some too :) but now someone in family said that they are not halal and few who disagree with this being haram said that our maulvis know jack shit about cryptos and its easy for them to declare everything haram so its allowed.

What do you guys think? Is it permissible ?

we need to educate people to earn money with halal means. An educated person will never make a haram decision and will detect haram means. Interests and gambling are not allowed then why do we like to pick up haram money.

 

[Will_Bite]

its same like stock exchange..

Im not goint to comment on the haram halal part, but its not even remotely similar to the stock exchange.
1. Its not regulated in any way
2. Its based on 'pure' speculation....and is driving people to gambling
3. its not regulated
4. no uniformity in pricing.
5. its not regulated
6. no central authority/exchange
7. its not regulated
8. many countries still dont allow withdrawing proceeds of crypto into bank accounts
9. did i mention it not regulated?

 

[skinnylizard]

yeah its decentralized..

if you are going to invest your rent money into crypto then you're in the wrong place, you invest with spare extra money that you can afford to lose..

this is the way to do it....

 

[skinnylizard]

we need to educate people to earn money with halal means. An educated person will never make a haram decision and will detect haram means. Interests and gambling are not allowed then why do we like to pick up haram money.

so your a successful wealthy businessman??

 

[Diesel]

Im not goint to comment on the haram halal part, but its not even remotely similar to the stock exchange.
1. Its not regulated in any way
2. Its based on 'pure' speculation....and is driving people to gambling
3. its not regulated
4. no uniformity in pricing.
5. its not regulated
6. no central authority/exchange
7. its not regulated
8. many countries still dont allow withdrawing proceeds of crypto into bank accounts
9. did i mention it not regulated?

 

[kakamuna420]

Im not goint to comment on the haram halal part, but its not even remotely similar to the stock exchange.
1. Its not regulated in any way
2. Its based on 'pure' speculation....and is driving people to gambling
3. its not regulated
4. no uniformity in pricing.
5. its not regulated
6. no central authority/exchange
7. its not regulated
8. many countries still dont allow withdrawing proceeds of crypto into bank accounts
9. did i mention it not regulated?

Stocks are regulated but in reality, they are a product of speculation and manipulation. Stocks were not haram in the original sense, but the markets of today are run by satanic jews. How many Christians are bankers or run financial institutions..very few because Bible doesn't allow any speculation, gambling, or working with interests.

 

[kakamuna420]

so your a successful wealthy businessman??

I am a poor guy but a rich lover of Allah.

But you are an enemy of Allah, take my words

 

[skinnylizard]

I am a poor guy but a rich lover of Allah.

But you are an enemy of Allah, take my words

you are poor because you are ignorant,

i have a good long-term investment for you, its a crypto. its like dogecoin, put some money down and wait for the massive pump and sell them,, easy money...

Loser Coin price today, LOWB to USD live price, marketcap and chart | CoinMarketCap

The live Loser Coin price today is $0.000009578 USD with a 24-hour trading volume of $31,887.29 USD. We update our LOWB to USD price in real-time.

coinmarketcap.com

 

[Will_Bite]

Stocks are regulated but in reality, they are a product of speculation and manipulation. Stocks were not haram in the original sense, but the markets of today are run by satanic jews. How many Christians are bankers or run financial institutions..very few because Bible doesn't allow any speculation, gambling, or working with interests.

Speculation exists in every sphere...but regulation controls it. Stock markets have surveillance systems in place to spot and check manipulation of any kind. Crypto doesnt.

And no, i dont want to get into a debate of who is running todays markets.

 

[Will_Bite]

Im sold!!

 

[Awan S]

Any business where there is chance of prophet or loss are same, it is halal. Crypto currency also similar to stock business has chances of profit or loss depending upon your knowledge expert and more than anything luck.

 

[kakamuna420]

you are poor because you are ignorant,

i have a good long-term investment for you, its a crypto. its like dogecoin, put some money down and wait for the massive pump and sell them,, easy money...

Loser Coin price today, LOWB to USD live price, marketcap and chart | CoinMarketCap

The live Loser Coin price today is $0.000009578 USD with a 24-hour trading volume of $31,887.29 USD. We update our LOWB to USD price in real-time.

coinmarketcap.com

I will pray for you. Allah will give your hidayat.

 

[Diesel]

you are poor because you are ignorant,

i have a good long-term investment for you, its a crypto. its like dogecoin, put some money down and wait for the massive pump and sell them,, easy money...

Loser Coin price today, LOWB to USD live price, marketcap and chart | CoinMarketCap

The live Loser Coin price today is $0.000009578 USD with a 24-hour trading volume of $31,887.29 USD. We update our LOWB to USD price in real-time.

coinmarketcap.com

never invest in dogecoin. its a shit coin. u can loose your money

 

[kakamuna420]

Any business where there is chance of prophet or loss are same, it is halal. Crypto currency also similar to stock business has chances of profit or loss depending upon your knowledge expert and more than anything luck.

lol! prophet or loss.

 

[kakamuna420]

never invest in dogecoin. its a shit coin. u can loose your money

his God is Elon Musk. He will save him from losing money.

Obama correctly said that people in the 2007 recession bought when they didn't understand the meaning of the word mortgage.

 

[skinnylizard]

never invest in dogecoin. its a shit coin. u can loose your money

bro. you buy low and checkout high, shitcoins are there for a quick turnaround

long term investment like the POlKA ecosystem is where i keep for long term..

 

[Awan S]

our religion wants us to earn money with our hands, with our skills, and not by gambling.
If your example would be valid, all educational institutions will be empty and all people working in menial jobs would buy coins and sit at home for 100000% profit.

People like you are enemies of Allah.

When there were no machine everyone earn by hand but things have change. This is same as you open a shop and selling goods/grocery to customer. You buy low and sell high to earn profit but some time you get loss as you were not understanding the things completely and was over excited. In the end, luck counts everywhere you run a grocery store or stock/cryptocurrency. This is not gambling, you learn skills to earn money in stock business. If you are not skillful you will lose and go out of business by loosing your money. The fundamental rule is given by our prophet is middle way, don't take too risk, don't be greedy, always remain on middle way.

I do stock business, I know, how much time I give every day reading news, analysis, opinion of experts and in the end if I earn anything this is reward of my hard work.

 

[Diesel]

bro. you buy low and checkout high, shitcoins are there for a quick turnaround

long term investment like the POlKA ecosystem is where i keep for long term..

i suggest you REEF FINANCE. much better much cheaper n real project. invest in this project for longterm. u will be happy

 

[taban]

Haram ka to nh pta per me haram khanay k chakar me kafi kuch daboo betha hun..Ab beth k Ta***y khujata hun.

جو کُھجا رہے ہو وہ بھی کڑوڑوں کے ہیں لہذا تم آج بھی کڑوڑوں میں کھیل رہے ہو

 

[kakamuna420]

When there were no machine everyone earn by hand but things have change. This is same as you open a shop and selling goods/grocery to customer. You buy low and sell high to earn profit but some time you get loss as you were not understanding the things completely and was over excited. In the end, luck counts everywhere you run a grocery store or stock/cryptocurrency. This is not gambling, you learn skills to earn money in stock business. If you are not skillful you will lose and go out of business by loosing your money. The fundamental rule is given by our prophet is middle way, don't take too risk, don't be greedy, always remain on middle way.

I do stock business, I know, how much time I give every day reading news, analysis, opinion of experts and in the end if I earn anything this is reward of my hard work.

I would recommend you to give that time to your family and to yourself. I sound funny but that is the only advice I could give you. A few years ago, I used to work for financial institutions and developed software for terminals used by one of the top financial institutions. I analyzed the whole system and came out of that quagmire before it could hurt me. Since then, I thank Allah every day for helping me. Now I look back, I am a happy person financially, morally, and ethically. People will not understand my story but I could only advise. We are all adults and are responsible for our own deeds.

Please be discrete when advising other people about financial instruments that you don't understand. You may hurt them for no reason.