Harris Irfan | Islamic Banking is an Oxymoron, Bitcoin for the Khilafah, Overthrowing the System

[@zchothia]

Harris is the real Islamic Finance Guru. Always a pleasure to hear him.

[@easy_essay]

Both Are😂

[@leadeeeeer]

I wonder why you don't create a community for all muslims interested to push islamic finance forward, so they can exchange ideas and network. This will have a great impact.

[@ramseybeing]

Totally not insane. If we align to islamic principles holistically, then downstream effects problems can be completely resolved and transformed, God willing.

[@quadriceps44]

He advocates at length about crypto being Islamic, and I understand where he comes from, but he misses one fundamental aspect that it doesn't have intrinsic value

[@zahzahzah7]

Yup. I'm waiting for him to explain how bitcoin is better than the gold standard. Also, Bitcoin value can be driven by speculation. Even I were to agree that proof of work has intrinsic value, why reinvent the wheel? Bitcoin is destructive to the environment, has not been adopted by most people, and requires influencers and lobbyists to drive demand. How is that an improvement over the gold standard? It's still magical internet money.

[@GeneralWarlord007]

There is no such thing as intrinsic value. All value is subjective. My Bitcoin would be worthless to a person in 1920s, And my Gold would be worthless to the people of Yapp, My water bottle is worthless in the Swiss alps with running sweet water from the melding alps, Yet that same water would be priceless in a sahara. The oxygen I breathe is not worth enough regularly, Yet I would pay tons for an oxygen tank when I am drowning. Nothing is intrinsic in value, its all subjective. Good day👋

[@GeneralWarlord007]

@@zahzahzah7the issue with gold is it’s physicality. It would on a local scale and breaks/limits on an international scale. We had a gold standarf which failed and that resulted in this evil FIAT standard. Issue? One word= Trust. Because it is physical in nature, it will centralize like it always has. No one will walk around with gold in their pockets to pay AliExpress with. You could only if you introduce a trusted third party that holds the gold for you. This is the point of failure/trust. There is no way to verify the amount of gold in the safe at this trusted third party for every client of that system. The government has an incentive like history shows to print more IoUs for fiscal spending in hope of buying the next election cycle. Unless there is a way to remove this trust element within a gold standard and digitize gold for commerce in this Information age, its just a relic of the past. Hence Bitcoin.

[@md.khaledbin5448]

Really great time passed by veiwing this....

[@asemabdelfattah4355]

Incredible episode. Jazakom Allah kheir!

[@hassanahmed2781]

I am blockchain engineer for several years and that Quran analogy was really great. 🤯

[@HHH78709]

And you still use the word "blockchain" lol..

[@Haris_Sikandar]

@@HHH78709why not

[@HHH78709]

@@Haris_Sikandar Timechain, read the OG whitepaper

[@Haris_Sikandar]

@@HHH78709 already read it

[@rancha_xo]

Listening to this very interesting debate, I still have 2 questions about his point regarding Bitcoin being the best alternative for Sharia compliance. First of all, I see it much more like gambling or gharar since I could invest $50 and, based on the rates, end up with either $40 or $60. Secondly, I still see riba here because if I gain money, it would be out of thin air! I didn’t trade to gain those $10 or engage in any musharaka or other Sharia-compliant transaction. I’d very much like to hear (or rather read) any enlightening comments on this.

[@GeneralWarlord007]

Let me respond and I will be straightforward without any intention of disrespecting: 1- your view on a Bitcoin being more like gambling is irrelevant to what that good is. For example, I see gold as a dumb rock that shines and this is also irrelevant to what gold actually is. Your interaction with something or anything can be risky which makes your deed the issue and not the good. Example, me being a noob at electronics, and still wanting to rewire my house can be very risky yet in the eyes of a professional its peanuts. The lack of knowledge and mine deed makes the act risky because of my unhandiness. Now without understanding what Bitcoin is, what its fixes or improves upon, many see it is as stocks to gamble upon and yes the deed of gambling is a no-go. The way should be, learn about the topic, engage with knowledgeable people, read books on it, understand it, debate it, convince yourself about the benefits and downfalls of the topic then consider buying. 2- when you buy gold or a house or anything that is scarce and its value goes up because of the damand for it, is that riba and should that scarce thing be banned? Understanding what FIAT money is and how that works is crucial here. Understanding the difference between unit of currency and purchasing power is key. Hence my advice to get your toes wet and keep asking questions. Lots is at stake for us to remain complicit in the crimes of FIAT. May Allah forgive us and Allah knows best.

[@shamiqhussain504]

Incredible conversation. As a non-finance person, I think I understood most of it, but it would be very helpful to get a similar analysis of the U.S. Islamic finance industry (which seems less developed/sophisticated relative to the U.K.'s). Nonetheless, the broader points about Islamic finance (commodity murabaha and contractum trinius) and it's history were fascinating as well as very impactful. Thank you!

[@Respect-fs4fk]

Teaching people that bitcoin is halal when you yourself don't know what or how bitcoin really works Is haram

[@aqoonqaate8109]

Digital carency can act as legal tender just like paper money, but it will never be real money, like gold and silver

[@rrSBS2017]

“That is because they say: Trade is just like usury; whereas Allah permitteth trading and forbiddeth usury.” I have an issue when people say that they research contracts themselves vs taking a recommendation from a reputable scholar who has spent their whole life studying not only Islamic transaction law but also economics. Inevitably what happens is the person who does not have any grounding in either subject (the majority of Muslims) ends up thinking that the Islamic contract is the same as its conventional counterpart. Subsequently, they end up feeling validated to use the conventional contract (this usually applies to mortgages for most people). Does Harris or IFG ever engage with respected international bodies for Islamic Finance such as IFSB or AAOIFI? Would be great to see such engagement. ❤

[@hasanx8317]

No ... the price manipulation of BTC can very easily be done by exchanges where the price of BTC is normally defined ... The amount of BTC traded in the exchanges is very small in relation to the sum amount of BTC

[@mkr2370]

Fascinating ! Thank you ifg and Harris Irfan.

[@magdeaaa]

What amazing interview. Well done team 🎉

[@anwarulislam2436]

This is the 2nd time I listened to Harris and more he talks the more he makes sense, more sense that some of the Scholars..

[@007kash007]

Yes completely agree. He's very original with his understanding of finance, more than these islamic guru guys and most scholars. I unfortunately see things from a hanafi fiqh perspective, so much more to study.

[@zafran20]

Let’s not make defamatory comments about scholars. Have you actually sat with, read about or listened to scholars that specialise in economics in Islam.

[@anwarulislam2436]

@@zafran20 yes , hence I commented.

[@RAVPower-]

Definitely true. The problem is that most of the scholars don't understand Bitcoin. Which is ok because even financially well educated people don't understand (more and more do). But then you shouldn't give a fatwa for stuff you don't understand. If you give fatwa on these kind of things, you need first to understand how money works.

[@omarascari7403]

Tarek el Diwany was also an industry insider thar authored The Problem with Interest

[@talhatariqyuluqatdis]

Brother please put the relevant links to all the organisations the brother Harris has mentioned and reccomended in your description and/or comments section. I am unable to search all of these based solely on guesswork by listening.

[@finnamoto6852]

Based on his level of questioning, the IFG presenter is certainly not a finance guru. It’s a shame really, Harris could have been better utilised as the more knowledgable other by being subjected to more thoughtful questioning.

[@azuz1698]

I’ve never seen this guests work before but I loved his ideas and the whole conversation. He’s certainly the kind of contrarian thinker we need as the Islamic ummah in the West. The whole Islamic financial system needs to be evaluated and redesigned because the average Muslim is not financially literate much less understanding Islamic banking system. There’s also lack of trust by many of us of Islamic banks (even in the Muslim world) as I suspect they utilize conventional banking methods.

[@wajeehulhassan_vii]

There is KASPA that solves the trilema that Bitcoin has, I don't endorse Kaspa because its own by Izzy techies and they've been hiding transactions, but if we Muslims replicate Kaspa we can build a fair system, that's fast.

[@fouadmurtaza3133]

Absolutely brilliant. When Ibrahim seems ordinary in a conversation you know the other person is something else...with all due respect to Ibrahim!

[@Sulayman.786]

MashaAllah, I thought this too when Ibrahim was asking noob questions about BTC, that included the idea that BTC is controlled by some group of people, like the printers.. Otherwise his knowledge of banking and Islamic finance are excellent.

[@Sulayman.786]

However, in terms of BTC vs original Bitcoin (bsv), BTC dev decisions are done by a central team, BTC core, and most changes from Satoshi version have made it more about currency trading and not sound money.

[@zahzahzah7]

'you make it worth something' I don't see how that's acceptable. I don't have to make gold worth something. It has industrial use. It is worth something. If everyone decided bitcoin is worth nothing then it's worth nothing. What does solving algorithms on supercomputers do in tangible terms? Just wrecks the environment that makes it negative value. That's proof of destruction.

[@wajeehulhassan_vii]

Loved the discussion, financial system can solve too many problems in the world as Harris Irfan mentioned.

[@WME460]

What is shocking is the no of views on such an important topic. Says a lot about financial literacy and complacency on riba by Muslims. We have drifted so far or entered so deep that living without an interest based system might be difficult and not so easily acceptable by Muslims or the leaders of the Muslim and Islamic world. It will require an awakening to get back on track. You both most likely are being watched when you have use words like Khilafah and trying to replace the existing financial system. 😅Without the current banking system, the western countries and their economies will collapse overnight.

[@iNikkah]

Please address the need for Islamic student finance lots of kids are avoiding uni because I of the fees, why can’t we get big multinational companies for sponser kids who have exceptional grades to study then contracted to work for the companies for 3-5 years

[@desertapparels]

Systems are not fixed. They are overthrown.

[@asrulismail1513]

Digitize physical gold and silver using blockchain. Gold and silver will soar. Use them as a standard. Platinum perhaps and other precious metals.

[@Respect-fs4fk]

Bitcoin is constantly under hyper inflation hence the eratic price movement.

[@HHH78709]

Its unreal and not accepted for the interviewer to be so uninformed on the subject of decentralization vs centralization technologies.

[@HHH78709]

You have written a whitepaper and exploring proof of work and yet you are unaware of the fact that bitcoin mining is the best climate mitigation tech on the planet.

[@SamirMohammed-jn5tv]

Speaks like an angel but turns Shay**n when he later advices Bitcoin as the best option.😂

[@Sulayman.786]

MashaAllah, this is one of the best videos I've ever seen! This brother has done his work and proof is what he just said. He understands both Islam and Islamic finance and the current banking system and its faults. He honest enough to have extracted himself from the system and even call out the fake Islamic banks etc. He's correct that btc can be halaal because it has inherent value from its decentralized and reliable and accessible features, and does not have riba built in like $ and £. I ask the brother respectfully to research the btc civil war and how btc is the corrupted centrally controlled version, while the original satoshi coin is bsv. Bsv doesn't need a lightning network because it's not limited in block size, bsv scales horizontally and not vertically like btc and eth. Big blocks are what satoshi gave us. JazakAllah brother, keep up the dawah! Allah can do all things! SubhanAllah!

[@KarameloKoala]

He definitely has proof of work

[@mohammedhafeez7640]

Can you please interview the Tarek E-Diwany

[@gardenofeden11]

a bit off topic but this mans outfit is on point!

[@victorkey1218]

Great one. Jazakallah khairun brother

[@gardenofedencoltd..3048]

Assalamualaikum wa rahmatullahi wa barakaat. I'm Daoud Abdulkareem a revert in Islam from Cameroon. Please can someone help direct or explain how l can start investing in Bitcoin and other alt coins that are halal and how to trade them. I will also want to learn how to trade halal stocks, index funds, and any other halal online business that one can start with small Capital and grow it. Our brothers have been talking about investing but i haven't seen any video online or a course that teaches us as Muslims to start as a newbie to a pro if you can fine one the payment will be very expensive if i may ask are all these business model for the rich Muslims?. Our Ummah needs to learn all this business investments technology to help propagate Islam Insha Allah. It's because of lack of knowledge that we now fine Muslims trading forex online and using leverage. Please i need help and I'm ready to learn what is in alignment with my Islamic religion. Thank you all and Sallam.

[@GeneralWarlord007]

Investing and trading are two different things, Trading is short term money in and out, exchanging your time and energy with the hope if a good market trade. Investing is learning and letting your money grow for the long term, in Bitcoin its minimum of 4 years based on historical data. I would suggest to first learn about what Bitcoin is and what it fixes. Once you have that knowledge, you could consider it as an investment/saving. Also stay away from altcoins.

[@HussainFahmy]

*_Most Islamic scholars don't endorse cryptocurrency as they are not backed up by tangible assets._*

[@Bitcoinaire1]

What is paper money backed up with?

[@HussainFahmy]

@@Bitcoinaire1 *_GDP_*

[@Bitcoinaire1]

@@HussainFahmy no that’s incorrect. Fiat currencies are only backed by trust in governments. That’s all.

[@GeneralWarlord007]

Its not backed by GDP, our countries used USD and they are in more debt than the current GDP. If GDP were the case, Japan would’ve stop existing😆.

[@papaniokhorfaye]

Great analogy of Quran & Bitcoin on decentralization. Proof of work also creates value (beyond protecting the ledger)... Bitcoin miners increasingly use energy waste (e.g., vented methane on landfills) which is bad for the environment... and support renewables by consuming excess generation (e.g., from wind & solar), as well as such investments... Likely a must for bitcoin mining to remain profitable in the future!

[@shoaibriz]

Is there a link to the paper the gentlemen are referencing?

[@maazibrahim4272]

Let Harris make his statement, be a good host!

[@changeyourworldmindpower]

In short are the Islamic bank not Islamic

[@yudhihamzah]

Hi there, greeting from indonesia. A bit fun facts about islamic finance industry in our country : we used to be (i believe) the only country that bans commodity murabaha. But that's only until the end of last year, when MUI (indonesian clerics association) allows commodity murabaha for loan less than 1,300 USD per debtor. So... Yay?? 😅

[@ammarshamim]

A lot of these product's risk is tackled by adding compulsory insurance on it. What is your view on that?

[@Islamis4all]

Why are you promoting "Bitcoin" which majority of Muslims don't even understand how it works and it is a fact that it is digital money with on intrinsic value, why don't you teach them to stop wasting money on things that they don't need and start saving and investing in Halal businesses.

[@tzwacdastag8223]

Is it Halal to receive free sign-up bonus stock from brokers? The stock rewarded may or may not be halal. If it's not halal, then is it permissible to sell that and use the cash to buy other halal stock. I have a 1:1 margin account. The benefit of this account is that you don't have to wait for you cash to settle after selling, you can immediately buy even though cash has not settled yet. Is is haram to trade with this account?. Would it still be haram to use this type of account if I only trade with settled cash Show less

[@naimaalaoui2627]

Protect this man!!

[@Amadeus-ms9lt]

I like this man. How can I get a hold of him?

[@asikinbantam]

I subscribed because of this video, it's really a very interesting and good video

[@mturzo]

What is the name of the company that does halal home finance ?

[@wasifarooqi2557]

Could you please suggest islamic mortgage broker in Birmingham. Thanks

[@madi0582]

Our ummah needs to protect this man Harris at all costs

[@oayysz8909]

Mic is not good quality , chairs also not professional. Shame

[@amfnetprg]

Komentator-komentator di channel ini positif semua, tidak seperti masyarakat indonesia. Semoga kalian semuanya dirahmati Allah. Aamiin.

[@santosopuguh99]

beda kualitas bang, isi kepala mereka pengetahuan dari banyak sudut pandang..sedangkan orang2 kita isi kepalanya joget2 tiktok, dangdut koplo, judol..you name it 😢 mudah2an kedepan pengetahuan dan cara komunikasi kita bisa lebih baik lagi. Aamiin.

[@ayanali3672]

This is the kind of people we need....but we lack the ability to unite for a greater good

[@Davkal-h5n]

Nobody can build a car 😂 . Some how we are full of haram but no alternatives and we love to label everything haram and reduce our coverage.

[@fakofako444]

Exactly 😂. How about our salaries/wages? Are they harem or halal 😂😂😂

[@elmanmamedov7355]

Can someone provide the name or the links to the fintech that Harris mentioned

[@solahuddinzubir4165]

whys the audio is not ballanced, too loud on oneside to which who’s talking. Can adjust that next time

[@safwankhan8548]

Does Harris have any social media pages? I would like to follow or connect with him

[@GeneralWarlord007]

He is on twitter yes

[@arafat44]

Ma-shaa-Allah! Great interview and very well presented points. An eye-opener for many who don't know the history of Islamic Finance and very well simplified with great analogies. Well done again Harris.

[@businesshomeschooling]

Isn't the income of a bank haram though?

[@muddin8097]

Jazakumullahkhayran for the interview. In case it hadn't come to your attention, I think the levels on the guest's mic is a bit low and it's a bit echoey. Not complaining.

[@Ig310]

His book is not available anywhere to buy

[@reshadjalalyar6336]

This brother needs to contact the ministry of finance of Islamic Emirate or Afghanistan. They are they are only country with the freedom to actually implement this they just need to be made to understand this. From there it could spread to the rest of the world. InshaAllah

[@xyzmediaandentertainment8313]

Bwhahahahaha. He prefers his head on his shoulder dude 😂

[@davidstoner7906]

I don’t think afghans will be happy taking advice from a Pakistani, they need Hindus from India because they trust them more.

[@smoothrelaxationmeditation7280]

i am really so sorry , i am confused, he is promoting bitcoin.

[@GeneralWarlord007]

Yes, why would he. Maybe there is more to it than meets the eye?

[@somethingdifferent1609]

Is quotex currency trading halal

[@KaanfitnessUk]

Very eye opening.

[@Respect-fs4fk]

Where exactly does your real money go ? when you give your real money to the casino as your casino entry fee and play with other bitcoin casino members. Somebody has you real legal tender , Think about it

[@GeneralWarlord007]

FIAT is not real to start with😁. Consider that real money once were huge Rai Stones of Yap islands.

[@Respect-fs4fk]

@@GeneralWarlord007 Legal tender is what we need to understand .

[@hyper9ova788]

Bitcoin is hard sound money. I don't think people understand the significance of it.

[@hassaninvesting]

Great interview!

[@tasawarmalik6928]

This guy talks like a banker I would not trust him with my money. He talks a good game with zero real life answers. Who has he helped?

[@SamiMemon]

Controlled opposition. No beard. And totally incorrect when he claims that Bitcoin is halal. Lest I remind you all he is the one behind the financing of the clock tower in Mecca wherein they blew the mountains to make space for the iconic tower. May ﷲ protect the ummah from such shayateen.

[@GeneralWarlord007]

Thats the point, you should not trust anyone with your money. Forget the era of trust. The last trust based generation were the boomers. We live in a post-trust civilization. Listen to him about Bitcoin, learn about it by reading books and decide for yourself. Bitcoiners have a saying and this is also how Bitcoin works, DON’T TRUST, VERIFY.

[@GeneralWarlord007]

@@SamiMemonsmh

[@hqew6662]

Nice to finally hear from somebody who actually understands Bitcoin...

[@MoFields]

Man - bought a fill bitcoin fot 2k and sold it for 2.5k because if random fatwas 😢 الله عوضني الحمد لله

[@Hussain-ch3pr]

​@@MoFieldswell alot don't still consider crypto as maal or thaman. There is no consensus on it's permissibility.

[@mohammadaqueeb7968]

It's astonishing !!! I'm amazed by not only about the idea and philosophy of Islamic Financing but also with the intent and honesty reflection through the entire discussion.. Jazakallah khair looking forward to learn more on Islamic Economic System to make world more equitable to all....

[@vasiq100]

Well done harris

[@adham6229]

Great vid

[@adildoloo4619]

Where did he acquire the Islamic finance or banking education from? Whatever bio is out there only states that he has BA/MA in Physics and then all of a sudden became a banker. I sometimes don't understand how one transitions from Physics to Banking and that too being well-educated in Islamic Finance. His LinkedIn as well shows only BA,MA in Physics and no other education.

[@aek8541]

From working 25 years in Banking and Finance brother

[@adildoloo4619]

@muffin1589 Why is my concern bothering you? Focus on his lecture rather than my comment. My comment does not question the credibility of his credentials. It simply enquires how he got into banking from being a Physics graduate. In one of his videos he mentioned that he knew nothing about Islamic banking when he joined the banking industry because he was just a science graduate. In my country you would not be hired even at local banks if the only thing you knew was Physics.

[@pasufi]

​@adildoloo4619 Because he has worked in the industry and had interacted with many scholars - apprenticeship. The sahabah became the greatest scholars by staying with the Prophet SAW! Apprenticeship is a very well known method of becoming an expert since time immemorial! Leonardo da Vinci (painter), Vincent Van Gogh (apprentice art dealer tonpainter), Michael Caine (actor), Stella McCartney (tailor to Fashion), Jamie Oliver (catering), Nadiya Hussain (Cookery to TV personality), Gregor Mendel (Philosophy, Physics, Monk to father of genetics), Charles Darwin (Medicine to father of natural history) etc etc!

[@Waleed-ij6ki]

I am an engineer by degree but banking by profession. Islam and laws of finance are self taught . You don’t need a degree

[@muddin8097]

I'm not in this industry myself but have heard from people who know people in it and apparently the big banks don't care what your actual education is in. They basically look for aptitude and will take people who have the right mindset and IQ and will then teach them what they need to know. Apparently they hold events with students from elite universities and invite students from all subjects to then attract the smartest. That's apparently how a lot of people get into it without a relevant study background. Perhaps an analogy could be that a comedian might have studied something completely unrelated in university. Allah knows best

[@innu222]

Guys, i am confused on the defination of RIBA in the context of what harris is explaining. RIBA is surplus yes but surplus in exchange of similar type of consumable item(Gold, Silver, Dates, Wheat, barley,etc). But in fractional reserve system where you are creating 10 dollar out of available 1 dollar is cheating/could be haraam but how is it RIBA? IFG?

[@acong95able]

FRS is like worst than the 'normal' riba we understand, give loans charge interest blablabla.. but in banking, fractional reserve system creates new money in every new debt.. the new money is the surplus aka riba that he meant

[@TeshTube]

Brilliant interview! Bitcoin is the solution. Tokenising gold will not work because centralising gold requires trust in humans not to issue more tokens than they have gold backing it.

[@f4zn0m97]

First time heard Harris Irfan and seriously "wow". The man's knowledge is superb esp about Bitcoin. We need more ppl like him in Islamic FinTech. Harris would it possible for you to do youTube videos like Cathie Wood, Ray Dalio, do. Muslims needs literate people i.e. knowledge of both Islam and finance, like him to look up to

[@lifehack-iy8nf]

Hey ibrahim please tell us abt trading stocks online Beside all criterias of stock trading (type of stocks etc) what about the cfd issue when trading stocks ONLINE with ,can you explain? and how do you trade stocks ONLINE? cuz some peoples says when u buy stocks from brokers they will not give u the original stock share they give u the cfd of that stock so... So THAT IS TRADING STOCKS ONLINE HALAL???

[@MohamedAli-hl8kz]

As far as I’m concerned nothing is wrong with buying stocks online, brokers are just custodians of your shares, try to find good trading platform. And flow the Islamic guidelines of trading stocks

[@GeneralWarlord007]

My contribution would be to forget trading. Learn about investing for the long term. The shorter you go the more gambling it becomes. Analyzing stocks is a whole topic. Plus as Muslims we also need to consider if the company is halal in every sense… for example what I have been struggling with is, is a company halal that does business with companies that are funding and helping the unaliving of Palestinians? These companies doesn’t have to be directly linked to the genociders but by doing business with them, they are helping the genociders get more funding.

[@ashiksiddique345]

Harris tried his best to Orange pill Ibrahim Khan but he is still not convinced.... he has a great platform IFG and Cur8 capital which promotes crypto( altcpin or shotcoins) as halal as the fundamental economics is different.... Ibrahim needs to read principles of economics, fiat standard and bitcoin standard by saifdeen ammous and may be get him for a interview as Ibrahim struggles to get the point across that bitcoin is anti-riba and accept that fiat money is riba in its current form.

[@Davkal-h5n]

I think our community is too judgmental and idealistic not realistic

[@mohammednaquib]

Amazing talk as always from Haaris. Every talk is a new learning

[@Respect-fs4fk]

The supply of bitcoin is unlimited, Hence it has a valuation of zero. Its a game of bits and chips just like in a casino , giving the casino your legal tender for funny money .

[@Respect-fs4fk]

@masudsaleh5155 People are made to believe that its limited to 21million bitcoin, I don't blame them , very smart but dishonest people are running the bitcoin casino I will put it as simply as possible For all to understand 1 bitcoin is being divided into billions and trillions of bits Its being sold in fraction, so its unlimited People are being sold 0.0000000000056433466 of a bit coin Can you imagine owning 0.00000000000087644556677 Of a bitcoin This is why bitcoin price movement is erratic and it will always be erratic It's simply a vehicle to speculate on price movement also known as gambling with bits and chips only its now online in everyone's phone . 1 bitcoin can be divided into infinity and sold for legal tender. It's so obvious that it's nothing but a Global online casino .

[@GeneralWarlord007]

Supply of bitcoin is 21 million, hence in theory its infinite supply of FIAT divided by 21 million. Digital scarcity was discovered for the first time in history with Bitcoin. Failure to understand this discovery is the basis of your comment. Unless there is a consensus based change on this hard supply cap of bitcoin, it is the hardest form of money we have ever seen.

[@Respect-fs4fk]

Supply of bitcoin is unlimited Let's not complicate it for the general public and make them rush into it over the fear of scarcity Don't worry bitcoin will not run out. Just speculate on its price movement If that's your thing. But understand it's haram

[@MoFields]

Is he Harris = حارس؟ This is a good alternative to Adam 😅😅😅 Arabic name with English sounding alternative

[@مرحبابك-ض1ن]

حارث

[@wrenmolot]

@51:15 sweatcoin sweat wallet and aruco do this already

[@IFGuru]

Yup!

[@racanabuzahra1104]

Bitcoin...there is no second best

[@besthear3284]

Gold and silver, Allah's currency for mankind. Any mode of currency that doesn't possess any utility outside the use of monetary transactions is Dajjalic in nature.

[@racanabuzahra1104]

@@besthear3284 saying that Bitcoin has no utility is utterly ignorant. Bitcoin has way more utility than gold, Bitcoin not only is decentralized (not subject to RIBA) but also has way more utility than gold, it’s easier to transport and store and to trade. Plus Bitcoin is a store of value like gold

[@GeneralWarlord007]

⁠@@besthear3284learn about the different forms of currency before gold every started being used as money and the basis of this comment will vanish. And please don’t use the christian remix of Gods money to Allahs money😆, its a ripoff.

[@Zakkhan27]

Should have had a coffee table for him to put his water lol

[@IFGuru]

Lol noted

[@khalidmn9821]

The real problem is with fiat money, fractional reserve banking with the deposit garantee from a central bank is the second problem. cryptocurrency is itself has no intrinsic value we should look for other alternatives

[@GeneralWarlord007]

There is no such thing as intrinsic value.

[@almurabitun]

99% of people in the Islamic banking scene are beyond a joke but this guy is the awesome.

[@Respect-fs4fk]

Islamic interest free loans mortgage ect should naturally cost far less than a non Islamic mortgage, If any so called Islamic mortgage cost more then a non Islamic mortgage, Then you need to do some financial reverse engineering to find out why because it would make no sense that an Islamic mortgage somehow should cost more.

[@symbiotezilla12345]

Unfortunately these islamic banks charge a higher “profit rate” than the conventional banks interest rates. In the US most islamic mortgage banks were deemed to have some haram aspects as per the AMJA fatwa board. The one company that was deemed halal, even that company charges a higher profit rate than the interest rate. It’s the nature of how they operate. Without trying to follow the market interest rate they can get away with charging whatever they want to generate profit for their “rent to own” schemes at least for house loans 😢

[@tranium67]

13:35

[@Respect-fs4fk]

Bitcoin is haram , its regretful that bitcoin is being promoted here as halal , due to very bad knowledge and understanding of how bitcoin works.

[@at2239]

How is it haram?

[@bash10101]

Bitcoin is Halal, in fact it is even more Halal than the current fiat system which is based on Ribaa. Please do more research before commenting.

[@youremail3285]

Pump and DUMP before split

[@shamsham1983]

Only bitcoin 😅