Thoughts about recent trend of pve gaming and if you guys know any halal ones
Also do the graphics of axie infinity come under shariah compliance
Salaam. Not a Mufti here. But based on what I know on how Axie works. They are using a Ponzi scheme a.k.a. Pyramid scheme in earning tokens/coins. This falls to haraam. This is just my honest opinion on Axie Infinity. Wish you all the best.
Yeah is of now it seems so but remember game is still in alpha can’t say anything for sure about economics
Assalamualaikum Sir please help me as I can’t find a single answer on any website about my question. My question is there is a website called rollercoin.com that I used to earn crypto. It’s a crypto mining simulation website where users can earn real crypto by either playing the games to get mining …
play game and get Bitcoin in return sounds good to me
Assalamualaikum Mufti @Mufti_Faraz_Adam could you please clarify my above question since I have already invested and I am about to withdraw from the site (rollercoin.com).
My question was about a website rollercoin.com. it’s a crypto play to earn crypto mining simulation where we can play games to get mining power to mine crypto and also we can buy miners to get permanent mining power.
I can withdraw now but I don’t want to as I don’t know the whether passive income is halal or not?
Rollercoin is Haram because it contains gambling ads, if I remember. The ‘Gaming’ system also involved riba which is forbidden in Islam. The people you see on leaderboard is rich guy who put their money to get money, they will be rich and more rich after one time investment. It is called riba. While other who play the game will be poor and poor as they only wasting time without doing anything benefit to the world and it impossible to make significant money with playing games. Correct me if anyone disagree but better be productive doing halal job online than playing this kind of p2e games.
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So far crypto itself is banned by 90% of Islam countries like Indonesia, Malaysia, Saudi Arabia, Bahrain and many more. Be cry before than dead. Crypto has so many cons than pros. Moreover the digital money still in development and will be better without being called crypto. I think the best option is the government should be the leader of the financial sector either online/offline not by the public. Why because, it is an authority party that has been chosen by the public. So we won’t see the money has been exploited by the public/private company/individual. Its not fair to the human kind if the empire of ‘satoshi nakamoto’, vitalik buterin or changpeng zhao rule the entire world. We need to stop this decentralization. Let alone our country government manages the financial sector.
It is good that one follows state rulings and local imam. But Is your state transparent and all the legislation according to shariah? Dunno about the state you live in but I live in Islamic country and let alone our financial system is interest based and there are many other sectors where shariah is not practiced.
Regarding what should be currency. It is something that is stable (not volatile). See EGP, Lira, Pkr, lost there values within months. Government inflates the currency mercilessly putting people out if misery. Dont people deserve better alternative?
Yes, many countries have banned but what is the reason they banned it for? Here they banned it cuz they can’t control it and don’t understand how it works.
Islamic scholar make decisions based on shariah/islam law and they are not alone, they have technology, financial, law specialist to help them make a decision. They know what they are doing. I have much to say about the cons of cryptocurrency. I also know software, but I don’t want to make it as debate. I leave this cryptocurrency and follow the Islamic scholar after doing my own research. Keep in mind, that everyone can make their own ‘cryptocurrency’. Think and analyze the implication and the benefits.
There are some bad signals/red flag about cryptocurrency. For example inappropriate coin names like shiba(riba), doge(dog), pepe(guess the meaning) …
All muslim shouldn’t be worry to retreat even we are missed the opportunity.
Don’t bother about cryptocurrency, they are just an imaginary number, it is also gharar(uncertainty) things. Can’t be seen as physical item. Need further research if necessary.
Keep in mind that whenever you trade ribawi items like gold, silver, fiat money etc those can’t be treated as speculation. It is haram.
Read this SAHIH MUSLIM, BOOK 10: Transactions (Kitab Al-Buyu')
These maybe the imaginary numbers but they do represent real worth of protocol/business that issues the coins/shares. Like AMZN share traded is mere speculation that it will give higher earning or if enough people are convinced that business isn’t worth anything they will sell and sell to the point that amazon will have to file bankruptcy and business is closed. See the effect of imaginary numbers and speculation?
Same goes for crypto, eg Ethereum network (ETH). If people come to a conclusion that this protocol isnt worth anything or didn’t add any value to the crypto space and everyone sells so miners will stop mining as coins will be worthless and network will collapse. and yes don’t buy meme coins or exchange coins that are dealing with leverage. Invest in those that are adding value to the system. IFG has list of those protocols (coins) that are worthy (halal).
If you invest in a business you’re speculating that it will be successful. I watched ifg video back then in which Mufti explained this kinda speculation.
Allahu Alam!
Learn gold and silver. Then you will know the difference between trade and riba.
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