Unfortunately true. Economics seems to be too abstract for many. However, it's very simple. Especially when you realize how much a certain group takes away from you. It affects almost everyone personally. While world events, as heartless as it may sound, only affect certain people.

But Scrooge McDuck also swims in gold coins. 😉

Thank you. Just wanted a confirmation.

Is cross contamination also an issue with cooking oil in Hanafi? Like at McDonald's where they cook their McPork and Fish Macs in the same oil? And how is the stance among other schools?

"Allah does not love the one who is excessively disobidient, excessively ungrateful and constantly in sin. Someone who engages in ribaa is engaged in an incredible act of ingratitude towards Allah. So they're constantly, always in sin. What kind of dua they make will be answered to them?"

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"If we are really convinced, that Islam is a solution for modern day problems, then it should be us researching a modern day alternative to ribaa. We should at least explore the alternative. Because this is an evil that hurts all humanity."

[Tafsir lesson 2:264 - 2:277]

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Bitcoin isn't backed by any physical commodity or government. Instead, its value is derived from factors such as scarcity, utility, adoption, and market demand. It operates on a decentralized network and its value is determined by the market forces of supply and demand.

In theory, yes. You could also transmit BTC via radio waves. Because in the end, it's just math and formulas.

But when the power grid goes off and we enter some dystopian era, then there will also be no traditional banking and paper money and gold would be worthless. We'd be back to bartering.

everyone in the market pays by diminishing their purchasing power. Only the fool who accepts those interest rates will pay then.

It's not magic, it's math. 😉 2/2

But it still can happen. You can lend 1 BTC and demand 1.2 BTC back after a year. It just won't happen as often anymore. And you can't just introduce more BTC into the market out of nowhere, beyond its limit (21 million). That's why there won't be any inflation where ... 1/2

Because it's more profitable to hold it due to scarcity rather than lending it out for interest. Imagine lending BTC for a year at 20 or even 50% interest. However, its fiat value or its puchasing power increases by 100% or more during this period. This has happened many times before.

Lending is not the problem. Interest is. Bitcoin disincentivizes lending for interest.

It doesn't need to be backed by another thing, because it's sound (or hard) money itself.

Start here: islamic-marketplace.com/how-bitcoin-...

islamic-marketplace.com/revolutionis...

Very easy to understand explanation:

www.youtube.com/watch?v=BL5v...

And: www.youtube.com/watch?v=IsMg...

Yes, these are people who just want to become fiat-rich one day. Which is also ok (meaning halal) bc it's a good store of value. They don't see it as a currency or, like Muslims, as a way to get rid of the "dust of riba" and reduce its negative effects on society. For them it's merely an asset.

2.) They have recently financed 2 proxy wars, despite rising national debt and record budget deficits. Guess where the money comes from? (hint: "brrrr")

Nobody really knows the real inflation rate, but we have all indications that it's much higher than what they tell us.

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