I want to invest in BITCOINS as they are the future

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mrlog

mrlog

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Mokillem said:
Fluctuating prises due to the markets is basically interest , that's why hoarding gold and intending to sell it later was haram.
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Look at this SAMBAC

:mahubowtf:

If we use ur logic Somali geeljire who hoard Geel and Adhi during the rainy season intending to sell during the dry season are sinning??
 
Mokillem

Mokillem

mrlog said:
Look at this SAMBAC

:mahubowtf:

If we use ur logic Somali geeljire who hoard Geel and Adhi during the rainy season intending to sell during the dry season are sinning??
Click to expand...
No, however hoarding wealth and not paying zakat with your money is haram. I think bit coin is haram because you make wealth with little work. However other argue it's not haram and in fact is the most halal form of money as it contains no connection to banks.
 
mrlog

mrlog

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Mokillem said:
No, however hoarding wealth and not paying zakat with your money is haram. I think bit coin is haram because you make wealth with little work. However other argue it's not haram and in fact is the most halal form of money as it contains no connection to banks.
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Adeer don't move the goal posts, nobody talked bout Zakat.
Where does it say that making wealth with little work is Haram?
Ninyo ma saabuunta ayaad cuntaa?
:draketf:
 
S

Striker

@TheMadMullah

I don't use those cryptocurrency but bitcoin is doing good.

It just hit 4000 dollars today.

But investing in bitcoin right now is not worth it unless you have a lot of money to invest

Second best cryptocurrency would be ethereum because its growing at a good rate.

It was 30 dollars couple of months ago and its 320 dollars now :nvjpqts:
 
S

Striker

LarryThePuntite said:
No Canadian banks accept this.

At this point it's better to invest in companies that go public who use the technology to disrupt other industries ie, Medical health, Audit, accounting, data transferring and sensitive information sharing.

The value isn't in the currency--it lies in the ledger.
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What do I gain from investing in public companies :lol:
 
Mokillem

Mokillem

shanqale said:
@TheMadMullah

I don't use those cryptocurrency but bitcoin is doing good.

It just hit 4000 dollars today.

But investing in bitcoin right now is not worth it unless you have a lot of money to invest

Second best cryptocurrency would be ethereum because its growing at a good rate.

It was 30 dollars couple of months ago and its 320 dollars now :nvjpqts:
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How to people invest in this , just buy some shares or something?
 
S

Striker

Mokillem said:
How to people invest in this , just buy some shares or something?
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I think it similar to gold. They buy at low price first and once the prices increases they sell it.

I've never used it before.

But its digital currency not backed by an organization or government so idk what the heck is going on
 
S

Striker

@Mokillem i think this is not haram

Because when you are buying currency (gold , silver , paper) you have to pay upfront and collect your currency

For example you send price to 5 dollars to a bank and you tell them that you want to collect your money in Somali shilling in 5 days.

The Somali shilling at the time you sent was 20,000 for a dollar but the time you wanted to collect it increased to 25,000 a dollar

So its a form of Interest (haram) and inflation whichcan also cause and argument between costumer and the banker

But cryptocurrency is digital currency and they bought it online (there is no way of collecting)

So I think its not haram
 
Apollo

Apollo

VIP
It's a giant bubble. The technology behind is not that impressive at all and I doubt it will ever take over the financial system.

It might go higher, but eventually it will crash hard and you will be stuck with worthless digits.
 
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