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Bitcoin in crisis: Islam has always been right.

*Bitcoin in crisis: Islam has always been right.*

Lots of people perceive Islam as a harsh and extreme religion due to is principles which do no harm to man but save him from himself. No religion is as complex as Islam today, by complex I mean, it does not leave any issue untouched such law of interaction with neighbours, how to live with parents, how to clean your butts after using toilet, how to intimate your spouse, how to raise your children, how to deal in business, how to transact with people. I can go on and on and on. Islam talks about everything and has a solution to every problem.

When Bitcoin first came, many people were amazed by the fact that Bitcoin comes with many advantages such as payment anonymously without being traced. This attribute gives criminals an advantage to kidnap people can get paid for ransom without being caught. And the worst part is it does not have any agency or body regulating how it is used. Which means the lack of a centralized body to oversight its activities makes it easy to misuse its power.

As I said above, Islam is a religion that caters for all problems. Muslims are not allowed to use Bitcoin as a tender for transaction because it lacks all the necessary requirements of being a tender for transaction. The reason for the prohibition is also to protect man from falling into harm's way or deception. Lots of people have been cheated in this market, a lot of criminals have benefitted from Bitcoin. So now, its effect is haunting its users and creators because it creates more harm to them than good. Now they are considering a modification on how it should be used, by creating a central body that regulates its usege.

I say to them, Islam has offered a solution over 1400 years before the invention of Bitcoin currency. Explore the Islamic principles and laws of business (shariah). They are the best for humanity, and they protect each party from being harmed. No interest, no cheating, and no deception. Islamic shariah is the best law for mankind.

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