so tell me who are the parties involved in the scam…erm sorry in the “buying and selling” of the coin/token
I mean who knows about the pump and dump scheme and how is it advertised, give me the example of a coin and where are the signals made available?
For example, LON/USDT was pumped on the 15th of may. It did around 100%, and it only lasted a few seconds. The signal was sent in discord to buy LON/USDT.
So you on Discord, you all get the signal to buy and therefore end up inflating the price, then you all race to sell, until driving the price down. First come first serve in terms of profit.
You all count your pennies and have a laugh, cheers til next time.
What about the poor guy who is not on Discord, and randomly invested thinking its a good investment, but did not know about you guys’ little game?
It lasted for around 10 seconds, no poor guy bought in the 10 seconds haha. If we wanted to bring in outsiders we would of held it for days.
So in another word, you guys created a scheme to gamble…even worse…
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As you said it yourself, its more like a race/game; some will lose some will win
Sounds like betting to me
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But can’t we compare it to trading? When there’s hype around something it pumps, and eventually people try to get out with as much money as they can.
Ftx quarterly futures halal or haram btc-0625… They donot have intrest, they get expired also
Futures contracts are usually considered non shariah compliant, unless they can prove otherwise.
If what you told me is true, then its not appropriate for a Muslim to engage in this sort of trading. The aim is not trading but gambling. You guys created a mechanism to inflate the price of an asset, as a mean of competing in its sale. In another word, you manipulate the price purposely to play the game.
Its things like this Mufti Taqi was referring to, when he advised against getting into crypto due to the speculative nature of these investments.
Speculation in trade has various level, from being tolerated to being haram. Due to the way this P&D has been structured (according to your say), I would not recommend anyone to get into it at all.
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Plz check this article. Its about quarterly futures with no intrest. Can guide me if its halal or haram. I have visited every website but I didn’t find any answer. JazakAllah
Got it, do i have to give all the money i made away?
And i was also getting paid to moderate a chat for s pumping server, do i have to give that away too?
السلام عليكم ورحمة الله وبركاته
Is shiba coin permissible, you have screened 50 coins on IFG and this one is in top 50
جزاك اللهُ خيرًا
Wasalam wr wb
Barakallahu fik
I screened 50 coins? Wow I did not even know I did that
السلام عليكم ورحمة الله وبركاته
Mufti I was just after an answer regarding Shiba, I didn’t mean you personally lol I mean the IFG platform screened 50 coins
Assalamu alaykum
I have just followed your thread trail and can only congratulate Mufti for his patience and perseverance here. If you are seeking a ruling from a scholar who is qualified in his or her field, and that scholar provides you with a ruling which is not to your liking and you decide to consistently contest and argue with it as you have, then the issue lies with you, not the ruling.
JzkAllahkher
Nawaaz
@Mufti_Faraz_Adam @ibrahimkhan I’m curious to know what you think about this.
As-salaamu alaikum,
agree with br. Nawaaz. Shaykh provided the guidance in the first reply.
This activity is unethical and not how a Muslim should earn a livelihood. It is naive to think someone does not lose out somewhere.
Is it good manners to ask other’s opinion if you don’t like an answer?
Allah is Al Razzaq, The Provider so please stay away from pump and dump to please your Lord and you will find something better in-sha-Allah.