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Mufasa

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Everything posted by Mufasa

  1. Random Islamic Questions

    Sorry, I'm not trying to be passive aggressive. I just think there is perhaps some projection based on experiences elsewhere. It's true that there is a double standard in many Muslim spaces. If you see us moderate a female's post when we wouldn't have done so with a man's, you can--and should--call it out. (Though members should also be open to hearing our reasoning.) Sometimes we don't realize our own biases. That's not me being facetious, I am being totally serious. I don't think Shaver's post is a good example of it. I do not think we would have thought to edit it if Shaver were a lady. There's a difference between someone simply posting photos of themselves in a car (which, frankly, would just feel attention-grabby), and Shaver posting an unidentifiable photo of himself doing the very thing he has spoken on MM about for years--his primary passion/hobby. It's equivalent to you sharing a poem, or Haku sharing his photography.
  2. Random Islamic Questions

    ...but you deleted it? Or did one of us mods tell you to delete it? Also, if you see a photo or video of a man exposing from his belly button to his knee, especially in a sexually suggestive way, you are welcome to flag it. However, if you look through many of the videos you have posted in the music thread, you will see we don't enforce awrah strictly when it comes to women. I don't really get what your complaint here is about. MM is not the strictest.
  3. Random Islamic Questions

    Do we strictly enforce awrah rules for women? People post all sorts of music videos, trailers, etc.
  4. I qualified for a motorcycle racing

    Wow, that's pretty cool. Be careful though!
  5. MM Awards 2024

    I'm still waiting for the results from 2013
  6. I've been doing a lot of research on cryptocurrencies over the last few days. The most popular of these currencies is obviously Bitcoin, which has been in the news much. Many feel that they are too late to the game- but there are a ton of currencies out there that are just beginning to surge, and actually provide much more promising models than Bitcoin (which happens simply to be the first and therefore has name-recognition, but is not necessarily the best). Now, I don't have much money to actually invest, but I also don't have many expenses, so I am thinking to invest a very [very] modest amount. Anyone investing in cryptocurrencies should tread carefully and acknowledge that we do not know the futures of these currencies. They could all crash. Or, we could have a situation as with Bitcoin, where people who invested hundreds could today be millionaires. Of course, it will probably be something more modest and nuanced. I would be happy to share insightful articles/forecasts if others are interested. My major hold-back at this point, however, is the Islamic issue -- whether they are halal, haram, or something in between. I have seen mixed [though vague and maybe unqualified] opinions from scholars, none of which have really made me feel convinced either way. I just came across this article, which I have not yet read, but which I think Okays Bitcoins at least for certain usages. This thread is just to open a general discussion about cryptocurrencies. My first question for Mo- or others who know about cryptocurrencies: What would be your major arguments for it being haram? Let's start there, and then I'll have some more pointed questions depending on your responses.
  7. Unfortunately I bought Ripple at a very inopportune time (I should have heeded the FOMO-feeling cautioning). But Alhamdulilah, I didn't put in very much, and I'm in this for the long-sight, not for a quick gain.
  8. But I'm not sure anyone who has faith in (and knowledge about) Bitcoin thought it was going to just keep surging. Most of the analyses I read predicted cryptos would drop hard, hence the HODL motto and cautioning against buying out of FOMO. I'm not sure that the fact that it's wiped over 50% of its value is any more indicative of its long-term prospects than its peak was evidence in favor of its long-term prospects. Neither seem to mean much in terms of its long-term potential; I assume it will stabilize at some point- from what I've heard, maybe between 2k or 6k. Do you think it's going lower?
  9. 'Tis the season to hear back from PhD admission committees. Please deploy a du'a or two in this direction!

    1. Show previous comments  2 more
    2. cubster

      cubster

      fingers crossed!

    3. superman

      superman

      Did you get any offers

    4. Mufasa

      Mufasa

      Not yet but have an interview scheduled...

  10. I feel like MM likes these topics, so why not spark the forum to life a bit? Interesting video about an 11 year old transgender, who was born a boy but feels, identifies and lives like a girl. Definitely seems like something biological, especially given that the doctor is involved. It's interesting because - obviously we don't know what goes on behind the scenes - but they seem like a pretty avg american family, perhaps countering claims that these sorts of things have their roots in some sort of familial instability. So something to ponder: how do you think her parents should react?
  11. Thanks- that's helpful info. I'll have to read more about the dot-com bubble. If nothing else, cryptocurrencies have piqued my interested in financed. Obviously you know a lot more about the subject than I do. For the record, I do think a vast majority of cryptos will (and should) fail.
  12. Not really. We've already established an investment, even a speculative one, is not gambling, right? With Amazon or Google, you'd have to actually look at the company, see what they have to offer, and decide whether it seems like it will be valuable. The same is true of cryptos -- a lot of them are totally worthless, but some of them actually seem to provide useful services and possibilities.
  13. That's fair. But if you are comparing cryptos to the dotcom bubble (a comparison which I don't disagree with), would it have been haram to invest in Amazon or Google in '99?
  14. Anyway, in terms of my own feelings re: investing now, after getting lots of opinions, I'll probably wait until more scholars have more to say. It seems a very fresh topic and the scholarship is not fully up to speed. I have seen opinions supportive, and, at least from Mo's source, opinions opposed. But I feel very unconvinced. My main concern is that, if tomorrow a currency were to BOOM, it wouldn't feel like honest money to me. I'm not sure that any investment would, though. That said, I did put a very small amount into Ripple when it hit its *probable* rock bottom. I feel pretty confident that Ripple is in a league of its own. It's more out of personal interest in seeing how it all works.
  15. I think this is Mo's point though, not his. He didn't say anything about uncertainty or a bubble. Your right that his final fatwa is pending; he is unsympathetic to the first opinion. But I guess we'll see what he ultimately says--if he publishes more.
  16. To Mo, because I feel like I'm being pulled into an argument I wasn't going for at this point: -What I noted in the beginning (and which everyone knows) is that the future of cryptocurrency is uncertain. Even if cryptos take off--or if blockchain does--that means nothing of the future, for example, of Bitcoin, which is simply the first--not the most efficient. So yeah, it's based on a lot of excitement; the thing is, the value has flailed a lot in the last few months, but it will ultimately correct itself. I think that reflects that there is a lot of *real* money in there and people are going to let it sit. Right now a lot of it is driven by people fearing they will miss out--that's the nature of it being new, now mainstream, and quite easy to buy-in. But we don't know it's future. You might *think* it's a bubble. You don't know it's a bubble. -Well, I definitely do not think that a firm like Bridgewater is going to be investing their clients or advising others to invest in Bitcoin. There's no doubt it's a risky investment, which I've noted from the very beginning. (though, their clients would not have been complaining had they had the foresight to invest a few years ago, would they?) However--and this is based on subjective experience--there are 'tons' of young people working at companies like Bridgewater who are personally investing in Bitcoin. This I know from friends who work at similar firms in New York. While I don't know much about finance, since I've become intrigued, I have you on your anti-crypto crusade, but I do also have them whispering in my ear too. They're obviously not putting all their money in cryptos; but they are diversifying within the crypto world and betting on it to work out. -But none of this really addresses the issues I have. I have no delusions about whether cryptos are a *safe* investment. But where's the hadith that says it's only OK to invest if global investment corporations A-Okay it? Oh, but he himself doesn't seem to make that point at all. Just the opposite, he says: "The fact that people are using them as investments does not negate their currency feature. It just gives them similarity to investing in foreign currencies." I figured this implies Bitcoin is like a currency --> you can invest in a currency --> therefore that people use it as an investment is not problematic, right? Or did I misunderstand it? And this is the point. I don't think there's much a consensus on Bitcoin/cryptos.
  17. Interesting. I only skimmed it just now, but where does he say the point about it being "extreme gharar" to buy-hold-sell?
  18. I don't doubt what's in these articles. But it's not really what you claimed in your first post. It doesn't say anything about those who are interested as being "amateurs" - that's your extrapolation. I kind of doubt a majority of traditional investors have any clue about, let alone totally understand, Bitcoin, however. The first article actually indicates that traditional investors, though once skeptical, are becoming increasingly interested in Bitcoin.
  19. Thank you, I will read this later today. Looks helpful. OK- Source? I don't get this. You can't say "They aren't aiming to create a cryptocurrency" when they literally have done so--built around the same idea of a public/consensus-based ledger (though the release of 'coins' is managed differently than the others). They're trying to use this currency toward a new transfer system. But the new transfer system relies on the new currency. If it's "useless to launder money," then your point 3 is not relevant to Ripple? That was my question.
  20. For what it's worth, I'm not adverse to the idea that cryptos might be haram. But I haven't been convinced by the reasoning. The "extreme gharar" seems the most problematic aspect to me. Frankly, I'm not sure I understand completely why any investment is not haram. But I see points 1 and 2 that you've provided as highly conditional/contextual and presumptuous.
  21. Bitcoin has grown exponentially since this study (a methodology of which seems fishy imo). Bitcoin's really mainstream now. I know tons of financially savvy people who have bought in simply for investment-sake. Mainstream media outlets now cover crpyto-market changes. I think y'all are just late to the game. Here is a more recent sources: But all of this is also relevant specifically to Bitcoin or currencies, like monero, which have been used for this sort of stuff. I assume a company like Ripple, which is trying to build relations with actual banks, would not be used for these purposes.
  22. I'm dropping this here to read later Beyond the Bitcoin Bubble: : https://www.nytimes.com/2018/01/16/magazine/beyond-the-bitcoin-bubble.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news&_r=0
  23. Thanks for the info from the shaykh, Mo. The breakdown of different definitions/concepts is helpful. I do have a few short follow-up questions for you. No need to ask the shaykh, unless you so choose, but your opinion (or others) is appreciated. -1. I understand this point, in theory, but doesn't it seem odd to bring it up in terms of Bitcoin and living in the UK? That "several governments have instituted bans on it" does not make it illegal in countries where such bans have not been implemented, like the UK. That there is certain licensing needed to sell Bitcoins from dollars (at least in the US) implies some degree of sanction by the government. -2. This I see as the strongest point - hence I started this thread to see how others feel. It doesn't feel like well-earned money, unless you're actually a crypto-nerd deeply engaged with the e-sphere. But nor do investments of other sorts tbh. Is there any way to draw a line between "extreme gharar" and an acceptable level of uncertainty? Or is it a matter of opinion? -3. Is this a purely contextual/time-specific thing? I noticed you said "currently." This seems a similar point to the one Haku made, but I just feel very iffy about it at this point. I have no doubt that, when Bitcoin was running at a few bucks a coin, it was dominated by sketchy stuff. But it's now way beyond that. On the other hand, we know that the value of the US dollar is benefitted by things like war, and many of those involved with the dollar are involved in drugs, porn, weapons, etc..
  24. Thanks for your response Mo. Very helpful. Im goingto respond soon but Im on a trip now so may be MIA for a few
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