Wa salam
Get ₿itcoin from wherever is most convenient, cheapest and most preserving of your privacy. Don’t get from places that don’t allow you to withdraw your ₿itcoin and DONT leave your ₿itcoin on exchanges. Learn to take custody of your wealth. Also, check out @bisq_network and @peachbitcoin for private purchases of BTC.
I’m not the person to ask about shitcoins. Stick to BTC and get a normal job like everyone else.
@Abdullah_Asaedi
و عليكم السلام و رحمة الله و بركاته
Yes, ₿itcoin is like any other currency and therefore permissible to make money (ie more fiat) from money exchanges like you would from gold to silver etc. Just make sure you understand & know the rules of money exchange so as to avoid Riba.
I have a video on YouTube that will help you with this.
ALSO, any platform that does not allow you to withdraw either currency is not permission or to use. For money exchange to be permissible you need to have full ownership of your money. If you can’t withdraw, then it isn’t yours.
Last piece of advice, you need to have the correct metric when measuring your ‘apparent success’. If you’re not building a greater amount of #BTC with your activities, then you’re losing out and you would be better off just DCA’ing your BTC. You DONT want more fiat, you want more BTC. If I told you that there was only 21 stones in the park but an infinite amount of grains of sand, which one should one try the acquire?
I think it’s great. #BTC is money with a limited supply and fiat by design must inflate and does not have a limited supply (QE infinity!!), as there is more money owed than there is in circulation. How can anyone be more bullish on Fiat’s monetary policy over #BTC ?
It is fiat. All you’ve done is to give the responsibility of holding that fiat to tether who not only earn interest on it, but go out into the market & buy interest bonds. This is essentially the same as a 0% Credit account with the bank, but with added tether counterparty risk.
In fact, usdt is a claim for usd which is also just a claim. So usdt is fiat of fiat lol.
You can use a bot, program, tool or person to trade on your behalf to make money. That’s fine. BUT…if someone promises you that THEY have a bot that will trade YOUR money and they promise you to give you X profits, then this is often a ponzi scam. But if you programmed your own bot, and know with first hand knowledge that actual trades are taking place, then that is permissible in accordance to Islamic law.
Whether you ‘should’ do it is another question, and I wouldn’t give too much confidence to bots. They only execute your instructions as you’ve told it, and are only as good as both your plan, the market movements and your timing. If you know how to trade and just need fast execution, then useful, but if you can’t trade anyway, or are new to this, then it won’t help you as much as you think it will.
My advice is to DCA into Bitcoin, try to live that standard by “spending and replacing”, and by finding a useful job like everyone else.
Futures are a tool used to lock in future prices for X product/item. That is fine in islam, in which we (Muslims) call it ‘Salam’. BUT, for it to be permissible you have to give the money up front for the product to later be delivered. This is not how futures work, especially as it’s often not even settled with X product, but just trading prices, and therefore no permissible.
This fiqh course I delivered last year will help you navigate your trading needs, as we cover what types of transactions are permissible, what is Ribaa and more importantly, how Salam works.
https://metamadeenah.com/courses/fiqh-of-business-part-1/
Here is one of the lessons made available on YouTube for free:
We have a long & well document history of plotting, scheming, manipulating & defrauding the world to maintain this “stability”. It’s not due to “fair trade & commerce”, otherwise they would not have actively plotted to assassinate, destabilise, & subjugated sovereign nations
There is an active pyramid, where value is siphoned off from the bottom all the way up to the top. So as other fiat collapses, global value flows up, not down.
With THIS the illusion of ‘stability’ is managed. ₿ut not for long.
If you want to support this system, remain in fiat
What saddens me a lot is how so many Muslims have become, without realising it, statists. What do I mean by this? I mean they have this belief that governments are some all powerful, all reaching force, & that we must give our total submission to their doctates & plans.
What we end up doing is placing the will of the gov over the teachings of Islam, or at least in practice.
Let me give one example that I’ve seen so often. Every time I see it, it makes me feel sick to my stomach 🤢. Let me pain the picture.
We live in a credit society, where almost everything occurs by the behest of banks with gov mandate. They engage in Ribaa, usury, & the gov support, endorse & enforce this. To the point whereby ppl like @CaitlinLong_ who try to establish a fully reserved bank get blocked…
Then comes along #Bitcoin , a free, open, boarder less money that hinders the practice of Ribaa at every level. We then have other ‘coins’ who seek to support the Ribaa fiat system, such as XRP & even now ETH &we then have two parties.
Those against the riba system: those for it.
So how is it that I hear so many Muslims rushing towards XRP? & when asked why, they say things like “governments will support them, therefore we should” or “bcoz they support the legacy system, it would ultimately beat ₿itcoin, therefore I’m going to support & HODL XRP!”
Where is Islam in this logic? Where is ‘doing what is right’ in this argument? When will these Muslims DO something to try to implement Islam in their lives, spread justice & forbid the evil of Ribaa? What would it take for ppl to want to join Allaah in His War against Ribaa?
How can someone feel happy & sleep at night knowing that their wealth is being used to support this global oppressive system? Every nation under the foot of the IMF, every Muslim leader with the yoke of usury around his neck, every Muslim who’s become a debt slave looks at YOU.
“Whoever sees an evil, then make him change it with his hands, &if he can’t then with his tongue & if he can’t then with his heart & that is the WEAKEST of Eemaan”
My message to all those Muslims out there supporting XRP & those coins that seek to emulate Ribaa
“SHAME ON YOU”
Shame on you for your laziness.
Shame on you for your weakness & defeatist mentality.
Shame on you for seeking your provision through supporting those systems Allaah is at WAR with.
And shame on you for supporting authority in their evil.
If you haven’t got the spine to stand up for what is right, at least don’t stand in the face and in the way of those who are trying by spreading your FUD such as:
“BTC wastes energy”
“BTC is used by criminals”
“BTC was made by an unknown person”
“BTC is not backed by gov”
HODL your shitcoin in silence 🤐 and figure out how you’re going to justify your actions to Allaah.
