Re: Is Bitcoin halal?

In Shariah, there is no valid reason to accept Bitcoin or other Cryptocurrencies as a currency. It is just an imaginary number, which is generated through a complex mathematical process. It is purchased for Gambling or Speculations, and used in illegal or unlawful transactions”.

I don't suppose that your comment means that Bitcoin is probably Haram based on the argument you are putting forward but you do understand that, all the ills you mentioned about the possible use of Bitcoin are also true for Fiat money? except for being an imaginary entity. so do we say that Fiat money might also be haram? I think it is what you do with you Bitcoin that matters.

The only thing that puts BTC into 'cautious' category is No government has accepted it as legal tender. Once Governmens start to accept it as legal tender or even as asset, it will become clear cut halal.

But El Salvador has accepted it as Legal tender and many other Government are looking towards that. I think sometimes we overburden ourselves with some issues but if you look at it critically, anything that you get in the wrong way even if it is Halal can become Haram. Even the way we eat sometimes can be haram even if the food is Halal. So my stand is still that, the issue shouldn't be about Bitcoin but how you got it and how you are spending it which Islamically relates to Fiat money as well.