Muslim Bitcoiner ⚡
@MBitcoiner
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Co-founder of @BitcoinMajlis . #Bitcoin Maximalist. Altcoins are scams. #Bitcoin is anti-Riba. Austrian Economics. Podcast:
Joined June 2021
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Last Seen Profiles
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Of all the sins, Riba is the least understood. We know that it's super haram and abhorrent, but we don't really know why, other than "it exploits the poor", but it's actually much more destructive than that. Let me explain... 👇
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I've compiled a reading list of articles that outline the case for why it's Bitcoin only and not crypto.
The ultimate Bitcoin maximalist reading list 👇
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Alhamdulilah! Rahma was born 20th of Shawwal 1445 AH, block 841440.
Both mom and baby are safe and resting Alhamdulilah.
Finally! After 4 boys we get to have a daughter! 😍
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There's a growing movement among Muslims all over the world that are making financial hijra to Bitcoin as a way to purify and preserve their wealth and escape the shackles of Riba that's so entrenched in our current fiat system.
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What do you guys think of me starting a bitcoin podcast for Muslims?
I notice that there are a lot of islamic finance podcasts and videos that focus on "crypto" and "blockchain" but not a lot of "bitcoin only" content.
There would be a lot to discuss like...
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This book unintentionally makes one of the best cases for Bitcoin maximalism, from the ethical perspective.
And this book is not even about Bitcoin.
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Alright I have some personal news I want to share that's actually not Bitcoin related
My wife and I have finally been matched to adopt an orphan from the Middle East. We've been in the adoption process for over 4 years now and...
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If you're Muslim and into Bitcoin and are looking to continue down the Islamic version of the Bitcoin rabbit hole, I highly recommend reading these 4 books.
👇
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Just grabbed half a bitcoin. Thanks for the cheap sats guys! I mean that sincerely.
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Yikes! I feel bad for Muslims that were mislead and were duped into buying this "shariah compliant" shitcoin. 90% down from its ATH.
There's already a shariah compliant anti Riba money, and it's called
#Bitcoin
.
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Boycotting Starkbucks and McDonald's won't do much, as the US can just print more money to fund the Israeli military.
Muslims need to take action to boycott the money printer itself, the institution of usury that directly funds the killing of Palestinians.
Luckily we have the
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"The fiat system is based on debt and usury, which is antithetical to Islamic law. Bitcoin allows for a monetary system that follows the teachings of the Quran."
Thank you
@BitcoinMagazine
for publishing my article!
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#Bitcoin
has the potential to eliminate the need for making money through Riba. If you have a hard money like bitcoin, you're more likely to either save it or invest it in a business that will yield profit.
@saifedean
explains this in The Fiat Standard.
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👀
"But after rigorous regulatory discussions that started back in 2019, the government of Oman eventually found bitcoin to be in line with Islamic law, accepting the modern innovation into Oman's deep-rooted tradition"
BREAKING NEWS: Oman🇴🇲is planning to invest 1.1 Billion USD in
#Bitcoin
mining.
Nation states are coming!
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So you're a Muslim and you want to start investing in
#Bitcoin
and don't know where to start.
Whats this Bitcoin thing about? Is it even halal? Where and how do I start buying Bitcoin?
Let's get into it 🧵
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After studying Bitcoin for
1 hour: Bitcoin is haram
10 hours: Bitcoin is halal, fiat is haram
100 hours: Bitcoin is anti-Riba
1000 hours: Bitcoin will free humanity from Riba debt slavery
10,000 hours: Bitcoin will help in the restoration of the Caliphate
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Islamic scholars are so quick to point out Bitcoin's "volatility" but will never address its stability.
Every 10 minutes or so, Bitcoin will update its ledger. No Islamic government or fatwa has the power to stop this.
Tick tock next block
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The massive scale of exploitation carried out by the IMF and World Bank is just mind-blowing.
From reading
@gladstein
's book, one starts to get a sense of how these predatory institutions use debt and usury to literally enslave entire nations. We're talking TRILLIONS of $ in
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It's actually been quite amazing to see non-Muslim bitcoiners just casually throw around the word "Riba" when talking about fiat.
I hate to admit it, but Bitcoin seems to be more effective in educating people about riba than the Islamic finance sector.
In this episode,
@LynAldenContact
talks about Bitcoin being halal and fiat being based on Riba, and that we can expect Middle Eastern countries to catch on to the idea of Bitcoin.
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This chart is insane. Near perfect correlation between M2 money supply and net worth held by top 0.1%
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@waasim_
Every single person on this Earth is a slave to something
Either we aspire to be slaves of Allah or we become slaves to something else
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All I did was just post a picture of pizza slices
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"But but governments are gonna ban Bitcoin!! It'll never work!"
Governments:
JUST IN: 🇴🇲 Oman’s Minister of Transport, IT and Communications, Said Bin Hamoud al Maawali inaugurates 200MW
#bitcoin
mine 👀😲
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Alhamdulilah. Just got it.
How Usury Came to Rule the World – The Ascendancy of Usury over Judaeo-Christian & Muslim Commerce.
This thoroughly annotated, well evidenced and orderly book began life as a PhD thesis. Highly readable, it comes as a welcome resource in response to the rapidly expanded appetite
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There's a reason why all major religions either banned or had major restrictions on usury.
The wide acceptance of usurious transactions facilitated and unleashed the practice of fractional reserve banking, which eventually led to development of the institution of the central
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Woh! OK this is big!
Dr. Hatem al-Haj of AMJA, or the Assembly of Muslim Jurists of America, which is one of the most reputable organizations in the US that issue fatwas, recently watched an Arabic podcast that hosted
@saifedean
.
Dr. Hatem al-Haj said that he's intrigued by
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According to the Indonesian government:
A central bank digital currency (CBDC) is a financial instrument based on debt and Riba. That's halal.
Bitcoin is actual sound money with anti-Riba properties that's based on proof-of-work and energy. That's haram.
Hypocrites
JUST IN: 🇮🇩 Indonesia's central bank announces plans to launch a digital rupiah (CBDC).
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People are so quick to blame "capitalism" for why corporations tend to consolidate and get so large and influential, but it's really the subsidized capital stripping incentives caused by fiat money.
The money devalues under the socialist policy of inflation (credit expansion).
In hindsight it’s going to be so obvious that it was the fiat money that created the consolidation of clown world. —
@PrestonPysh
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There's nothing islamic about this. It's absolutely unethical to come up with a token and allocate some to insiders and founders.
It's a scam.
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How can Muslims collectively start boycotting the US dollar?
It starts with us converting our savings away from Riba based fiat financial products, whether that be checking accounts, US treasuries, stocks, etc., to Bitcoin. By this, I mean actually owning bitcoin on a wallet
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Inflation is needed for reckless government spending, which causes prices to increase, which leads to price controls and more central planning, and capitalism gets blamed for the increased scarcity of goods caused by inflation
Mises explains in Theory of Money and Credit 👇
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The truly destructive aspects of Riba can only be understood in the context of our modern monetary system, where Riba powers the global economy. The dollar, which is the global reserve currency, can only be created by issuing debt, and in order to make this debt profitable,
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The Fiat Muslim Mentality
The fiat Muslim cannot allow himself to think of any viable alternative to the fiat system that he's subjected to. He thinks the current system in which he lives in must necessarily be the most viable and fair system, and assumes that no other system
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"Bitcoin? Akhi you know it's just speculation and it's haram. It has no intrinsic value. Consider allocating into this halal ETF instead."
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For the last 10 nights of Ramadan, I'm going to donate 100,000 sats each night to this Muslim orphanage in Uganda. Please join me in this effort in stacking more hasanat this Ramadan!
Here's their Bitcoin lightning address: orphansofuganda
@8333
.mobi
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I've always hated them.
InshaAllah Binance collapses sooner rather than later.
#BoycottBinance
I pray that it collapses and everyone is able to get their btc off the exchange in time before it happens.
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My muslim brothers and sisters that are still involved in promoting crypto need to be very careful in the few months as exchanges start to break.
Arrests will be made. Don't be caught promoting an unregistered security.
My sincere advice to you is to stick with
#Bitcoin
only.
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As Ramadan comes to a close, I ask Allah to free the Ummah from the shackles of Riba, protect us from the devastating consequences of inflation, lower our collective time preference, and help the Muslims adopt a sound money standard. Ameen.
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This is a really hard pill to swallow for most Muslims.
All of our fiat money, even in Muslim countries, operates on a fractional reserve banking model. Thus, all of the central banks of the Muslim world engage in Riba
I see I'm getting more engagement and DMs from Muslim Twitter.
Here's a quick 5 minute video that explains how money is created through fractional reserve banking. This is how fiat works in ALL muslim countries, not just western banks. Watch it 👇
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Masha Allah. This young Muslim brother gets it. Not only does he understand Bitcoin and time preference, but he truly understands that there is no second best.
"I have nothing to diversify into"
🎯
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Inflation benefits the government at the expense of everyone else, and leads to nationalism and worshipping of the nation state.
From:
The Ethics of Money Production by Jörg Guido Hülsmann
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"But Bitcoin is haram because it has no intrinsic value. We should use commodities like gold and silver"
Me:
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When a Muslim wants to make a significant investment, like a business, an education, or a house, they have a choice: either take out a loan, or save up the required capital. Either choice puts the Muslim in a dilemma as they strive to keep their wealth ‘halal’. 🧵
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I wrote an article about the fiat dilemma that Muslims face, and how
#Bitcoin
could be a way out of that dilemma. I wrote this because I want more Muslims to understand the impossibility of keeping your money "halal" in a fiat monetary system.
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Finally going to start reading this insha Allah. This was long overdue. I'm ashamed to admit that I still don't know much about Islamic Economics...
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I'm seeing a number of posts from Muslim Twitter wanting to boycott and exit X due to Elon's support of Israel.
But the question remains, where do we go? If we go to another centrally owned social media app, the owner(s) could easily be bought to censor pro Muslim stances.
I'm
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@OJ_Smoke_
It now becomes pretty evident why interest is prohibited in Islam.
It's a tool that can be used to control and enslave entire populations
It's by far the most destructive and damaging sin 👇
Of all the sins, Riba is the least understood. We know that it's super haram and abhorrent, but we don't really know why, other than "it exploits the poor", but it's actually much more destructive than that. Let me explain... 👇
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It's 2023 and the majority of Muslim scholars have yet to understand this simple fact:
All fiat currencies today are issued with the contract of Riba.
Fiat currencies ( £ $ € ect)
National currencies (Pounds ,Dollars ,Euros , Yen ,Rupees ect)
Whatever you choose to call them are haram because they are born from debt / riba
The only reason scholars of Islam have begrudgingly allowed their usage is due to 'Umum Al Balwa
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When you analyze Riba through a fiat framework, its destructive nature becomes more apparent.
I honestly believe that Riba is the worst calamity to befall the Ummah, and it's no wonder why the Quran and Hadith use such harsh language against it.
Let's fight it together.
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Can we skip the part of boycotting burgers and coffee and go straight to boycotting the US Federal Reserve System already? You know, the actual institution that funds the Israeli occupation?
We have the anti-Riba monetary protocol to be able to pull this off
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This is the big announcement. We've started a non-profit organization to help educate Muslims about
#Bitcoin
(not crypto).
Please follow my brother Sal at
@BitcoinMajlis
and come join us at the Majlis! Let's orange pill the Ummah!
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Last night, friends at the valley ranch masjid in Dallas TX invited me to give a talk about Bitcoin. It was too short notice to actually give the presentation at the masjid, but we gave it at a brother's house nearby. We had like 25+ people show up MashaAllah. Lots of questions
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Why is one the biggest tech companies offering Riba to its customers?
This is what a Riba based financial system leads to. Every company must adopt an "interest rate arbitrage" business model rather than actually producing things of value.
From The Fiat Standard 👇
Apple has announced that starting today, Apple Card users will now be able to create a Savings account with a high-yield APY of 4.15%
There are no fees, no minimum deposits, and no minimum balance requirements
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If Bitcoin's utility is to separate the money from the state, then the state won't be able to print money like this to hand over to Israel.
Every time you convert your fiat to Bitcoin, you incrementally take this money printing power away from the state, thereby reducing the
BREAKING: The House of Representatives just voted to give Israel $14.3 billion in more weapons to deepen US complicity in Israel's genocidal attacks against Palestinians in Gaza. A shameful day in Congress.
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(1/22)
The History of Usury🧵
"When we add to this the condemnation of Plato... and that of the Roman philosophers Cicero, Cato and Seneca, we see that both the Judaeo-Christian and Graeco-Roman traditions... were unanimous on this issue."
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Interesting that one of the greatest Muslim scholars in history, Ibn Taymiyyah, anticipated Gresham's law by explaining that bad money drives out good money. He also called for 100% reserve banking.
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Boycotting corporations makes very little difference when western governments and central banks can just print infinite fiat money to fund Israeli military operations
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I've never written an article on the internet before but here it goes. This is titled "Muslims should adopt bitcoin". It talks about the fiat system, riba, intrinsic value, volatility, and a little bit about how
#bitcoin
works. Let me know what you think.
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Muslims need to abandon the notion that they can completely avoid Riba by saving up cash to buy a house.
Please learn how our money system works first.
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About to go orange pill some brothers at the masjid tonight
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🤯 Wow!
I've been reading this book called Charity in Islamic Societies by Amy Singer, and she inadvertently uses phrases like "welfare networks" and "decentralized relief nodes" when talking about Waqfs, or Islamic endowments, in the Ottoman Empire.
Sounds familiar!
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@propandco
Make an account on nostr and start building your following there before you eventually get banned here
Also, get some bitcoin before they close your bank accounts
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Are you serious??
Bitcoin is actual ethical money. Your halal-washed scam is what's absolutely unethical, and there's nothing Islamic about it.
@ahammad_rasmii
Bitcoin is a decentralized digital currency that operates on a peer-to-peer network, allowing for secure and anonymous transactions. It was not created with any religious or ethical considerations in mind.
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If you're posting pro Palestinian content on social media and still have your savings in a bank account...
Well, I suppose you'll find out the hard way.
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it needs to be tied with interest. The ones that issue debt are the central banks and commercial banks. The banks are therefore incentivized to issue as much debt as possible; it's how they stay in business. But what does this lead to?
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A message to Muslims: Please don't fall for this centralized proof of stake crypto. It's just another unregistered security that attempts to replicate the current Riba based financial system.
There's already a shariah compliant crypto asset, and it's called
#Bitcoin
Islamic Coin, the Shariah-compliant digital money has been featured in top traditional and crypto media, including Coinmarketcap, Yahoo and Bloomberg.
Read more about why Islamic Coin (ISLM) () is a resilient tool for turbulent times.
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A lot of people mistakenly believe that taxes in the US are the primary means used to fund Israel, but that's not entirely true.
The US government takes out interest bearing loans, at everyone's expense, to give to Israel. And these loans are subsidized by all the holders of
This "war" is costing Israel 260 million dollars a day.
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Bitcoin is illegal in Muslim countries like Qatar, but it's OK for the Qatar National Bank (QNB) to push centralized shitcoins like XRP on its customers.
It seems like Islamic governments have no problem with allowing crypto, as long as it's not
#Bitcoin
.
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Mood
@c_hashreview
@Cobratate
@BitcoinMajlis
I will not stop until all shitcoins, including fiat, are eradicated
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Many Muslims will be making financial hijra to
#Bitcoin
a lot sooner than we realize, insha Allah. It's happening now.
They'll be doing this out of necessity rather than convenience.
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The memes will continue until scholars update their fiat fatwas
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Too many Muslims focus on "American Hegemony" when they should really be examining "Riba Hegemony".
The U.S. dollar is the global reserve currency, and this allows the U.S. to run large balance of payments deficits without facing the same financial pressures other countries do.
It’s in the interest of the Muslim ummah for American hegemony to decline in the world.
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I wrote an article about how
#Bitcoin
can save Muslims from the sin of Riba (usury).
In my opinion, this is the best reason to let go of fiat and make financial hijra to anti-Riba Bitcoin.
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Muslims are so quick to talk about "gharar" or uncertainty in Bitcoin, but it's absolutely never a concern with fiat.
No one even knows the precise amount of fiat in circulation, but we can verify mathematically the exact amount of btc in circulation.
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Because debt issuance is how money gets created, it leads to everyone borrowing if they want to effectively participate in the economy, and they must either pay interest or make money with interest.
"well MBitcoiner, I can just hold dollars and not have to participate in Riba"
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A post on /r/islam from 7 years ago about why Muslims should use bitcoin. It's worth reading.
Amazing that Muslims back then could see the potential, long before I even heard of
#Bitcoin
.
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Gold, silver, dates, wheat, barley, and salt were used as money during the time of the prophet (pbuh). Why those specifically? Is it because they had "intrinsic value"?
Why not use houses as currency? They have "intrinsic value" right? But the problem with... (1/5)
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When I say that the current global monetary system is built entirely on Riba, I mean it in a very real sense.
It's Riba all the way down
@LynAldenContact
succinctly captures the inherent problem with the debt based fiat system.
"Everything is a claim of a claim of a claim, reliant on perpetual motion and continual growth to not collapse."
"It's liabilities all the way down"
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... their customers. It's not a consequence of "capitalism", it's the incentives created by Riba which compel businesses to participate in interest rate arbitrage.
@saifedean
explains this in The Fiat Standard.
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Whenever a Muslim mentions the problem of gharar (uncertainty) in Bitcoin, always flip the question back at them, and ask why they're OK with the gharar found in fiat that they use. Get them to think.
Here's a comment I made to someone complaining about gharar in bitcoin:
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Climate change hysteria is a religion.
Their followers adhere to the creed of gov funded scientists (priests).
Their day of judgment is the impending environmental collapse.
Their holiday is Earth Day
But most importantly, their god is the state, who grants salvation.
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Almost every single politician, media pundit, state sponsored academic and celebrity are in agreement with their support for Israel.
But sure, it's different this time. The state suddenly decided it's going to tell the truth for once.
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"The state... must be recognized as the source of decivilization: states do not create law and order, they destroy it. Families and households must be recognized as the source of civilization. It is essential that the heads of families and households reassert their ultimate
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Insane to think that this post was made on reddit on r/Islam 10 years ago:
"if our goal is just to avoid all the usury associated with fiat money when it is created, there might be a solution. I have recently been looking into bitcoin - a global digital decentralized p2p
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