Quote from: synchronym on Today at 03:43:10 AM

Quote from: Joeyp on October 19, 2023, 10:43:59 PM

Tell all arab people, also here in the forum, that Bitcoin trading is haram. So they will start to sell it and Bitcoin price will be lower. Then you can buy it, and after the time Bitcoin price will be higher again, so you can profit. Grin

As we know in Egypt, Islamic advisory body make the decree, that crypto, also Bitcoin is haram ( prohibited by Islamic law).
Egypt Islamic advisory decree: https://venturesafrica.com/why-is-morocco-walking-back-on-its-crypto-ban/

I have no idea about bitcoin halal or haram really if we invest something for the sake of business if we get it after investment then it is not really haram. If the money we earn by trading in Bitcoin is halal, we work hard and earn money. The profit we get from the money we invest in business is halal for us. But if we get any money without any effort, i.e. if I lend money to someone, if I take any profit on top of that money, it is haraam for me.

Is it prohibited by the Islamic law? I have no idea if having an investments and profit in crypto is halal or haram but one thing is for sure, Arabic people is very practical and wise when it comes on handling finances, even those in the upper and middle class, they still work hard just to provide a good life for their families. I think Arab people are aware on what they are doing, if getting involved in bitcoin trading is haram, they wouldn't have started any crypto activities in the first place. Let's see what will going to happen when they read/visit this thread.