Quote from: BrewMaster on April 18, 2018, 02:50:14 PM

Quote from: hatshepsut93 on April 18, 2018, 02:06:42 PM

Quote from: Kulafu on April 18, 2018, 01:22:52 PM

Since the Muslim community can now trade/hold/invest legally on Cryptocurrecy especially BTC. Do you think it can uplift the price of BTC and concurrency as a whole?

Dubai is very active on Cryptocurrency. It's hosting many of cryptocurrency forum.
We all know that there are a lots of Arabs that are really rich.

If I remember correctly, it was just some study by one muslim scholar, so it's far from being "officially declared" for all muslims in the world. Some other scholars might even later declare it haram for some reasons. But regardless, I don't think that it will have any significant impact on Bitcoin's price, those muslims that wanted to buy Bitcoin earlier most likely did it regardless of its status and Bitcoin is also not that popular in arabic countries to make a big impact on Bitcoin's price, just like bans in some countries have almost no effect too.

that is right, this was just an scholar publishing something. but bitcoin was never haram according to Islamic leaders and i have checked! Muslims have been investing in bitcoin long before this news came out... maybe someday as bitcoin gains more popularity some of the leaders release some official statements also but so far as i know there is nothing wrong with it to this day.

Correct, this is just a study of one Muslim scholar but it doesn't mean it represents the dogma that all Muslims around the world should follow. Allthough I believed that there are a lot of Muslims already joined the bandwagon earlier before this statement and I don't think it will change their perspective as to how they see crypto in general. Again, bitcoin has no boundaries and it makes sense for our Muslim brothers to readily accept it without having it deemed as illegal.