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Anyone holding bitcoin?


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Anyone in here long term holding their bitcoin? I invested $1000 into bitcoin when it was at 8800 and now its nearing 50,000 so I've profited $5000. Bitcoin is projected to reach 100k by the end of the year as we see more companies like Tesla jump in it'll drive up the price

For anyone holding, when do you plan to pull out? 

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At this time, cryptocurrency is not as widely adopted in general society compared to conventional currencies & payment methods. Additionally, there are no underlying commodities/financial fundamentals which define it's value. As a result, all mujtahideen disallow it's use as an investment, & as a payment form.
2 exceptions:
- Selling/using crypto that you have mined yourself is permissible
- Ay. Shubayri Zanjani allows being paid for halal work with crypto, provided your gov't considers it as legal tender
Watch this 2018 lecture for further insights:
Bitcoin & Cryptocurrencies; What is Halal Sustenance?
 
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On 2/16/2021 at 4:10 AM, Guest Walker said:

Additionally, there are no underlying commodities/financial fundamentals which define it's value. As a result, all mujtahideen disallow it's use as an investment, & as a payment form.

What an ill informed opinion. Let us dissuade the shia from gaining wealth?

BTW among the utilities of crypto is its difficulty in confiscation. Imagine living under an oppressive government that wants to take away your money. As Robert Shiller explains: https://youtu.be/uVH2JHxCSn8?t=214

Now imagine a Muslim that wants to immigrate away from oppression. Their house can be taken, their bank accounts blocked but their crypto is easier to escape with. BTW many forms of crypto are probably more halal than your fiat which is based on riba. The central banks buy interest bearing bonds when they create new money. Riba is no minor sin. Your dollars where created out of a riba based transaction. Please spend months thoroughly researching this subject before coming to conclusions. 

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On 2/16/2021 at 5:10 AM, Guest Walker said:

Additionally, there are no underlying commodities/financial fundamentals which define it's value.

LOL as if the dollar or any fiat currency has a real underlying value.

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Any notion that bitcoin is haram is ridiculous.  The claim that it is used by criminals, therefore making it haram, makes no sense either. Any form of payment that the government can't track will be used by criminals. That includes paper money. Bitcoin is a way for people to take power away from governments and banks, and unfortunately some scholars that are older don't understand this 

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Whatever Allah has given me is far more than I deserve and I am more than content. I have my dream car, my dream house, my dream family and good friends. Children inheriting a lot of wealth become hedonists and it is of no use to me.

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On 2/15/2021 at 11:10 PM, Guest Walker said:
At this time, cryptocurrency is not as widely adopted in general society compared to conventional currencies & payment methods. Additionally, there are no underlying commodities/financial fundamentals which define it's value. As a result, all mujtahideen disallow it's use as an investment, & as a payment form.
2 exceptions:
- Selling/using crypto that you have mined yourself is permissible
- Ay. Shubayri Zanjani allows being paid for halal work with crypto, provided your gov't considers it as legal tender
Watch this 2018 lecture for further insights:
Bitcoin & Cryptocurrencies; What is Halal Sustenance?
 

This speech is about more than Cryptocurrency. Every time I listen to a speech by Maulana Rizvi, I end up learning at least a few more things that are useful. May Allah (سُبْحَانَهُ وَ تَعَالَى) give him long life. 

The one thing I would say for the brothers who produce his speeches and put them on Youtube, is that they seperate the English portion of his speech from the Urdu portion and upload them as two separate videos. A person who clicks on an English speech, at least alot of them, cannot understand the Urdu so they are wondering what is going on in the other part of the speech or is he going to switch back to English at some point. 

Edited by Abu Hadi
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17 hours ago, Abu Hadi said:

The one thing I would say for the brothers who produce his speeches and put them on Youtube, is that they seperate the English portion of his speech from the Urdu portion and upload them as two separate videos. A person who clicks on an English speech, at least alot of them, cannot understand the Urdu so they are wondering what is going on in the other part of the speech or is he going to switch back to English at some point. 

Salam It's for avoiding  doubling  time of his speeches because  at first half of his speeches  , he speaks in english then switchs to urdu which repeats english part in Urdu for non english speakers likewise old people of community also in addition  he often finishes his lecture  recitation of Noha in mix of Urdu & Arabic at end of lecture.

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On 2/20/2021 at 9:09 PM, Berber-Shia said:

LOL as if the dollar or any fiat currency has a real underlying value

So maybe both are harām (except a necessary evil)? Sheikh Imran Hosein had this sort of opinion.

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7 hours ago, Ashvazdanghe said:

Salam It's for avoiding  doubling  time of his speeches because  at first half of his speeches  , he speaks in english then switchs to urdu which repeats english part in Urdu for non english speakers likewise old people of community also in addition  he often finishes his lecture  recitation of Noha in mix of Urdu & Arabic at end of lecture.

Yes. I understand what he is doing, but I am talking about a random English speaking person who happens to come across his speech on the Internet. They would be interested in listening to it, and might benefit from it, but when the languages switch all of a sudden without some sort of clue (that the general public can understand) as to why the languages are switching, it might make some people less interested in listening. This would be sad, because his speeches are very interesting and contain alot of good information. 

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