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Mo-

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  1. Like
    Mo- got a reaction from cubster in MMers who meet!   
    Posting here for reference! Hall of fame MM moment!
  2. Like
    Mo- reacted to Haku in Hello again   
    yet I get the feeling you are the one MMer who uses them the most
  3. Thanks
    Mo- got a reaction from Breeze in Random Islamic Questions   
    Astrology is both kufr and shirk. 
    If you believe stars cause certain events then it is shirk. If you believe you can discern the unseen by them it is kufr. 
     


     
  4. Like
    Mo- got a reaction from Breeze in FIFA 2018...   
    Also to add: I'm only following the scores of this WC and live text feeds. I refuse to watch it live and give Putin's Russia advertisement revenue after the fact Russia unleashed a chemical weapon on Salisbury. 
  5. Like
    Mo- got a reaction from Breeze in FIFA 2018...   
    It was intentional so that we'd have an easier knockout stage. Coming second in the group means England wouldn't have had to face Argentina, France, Brazil or Belgium until the finals.
     
    Instead we will face Sweden, then Russia/Croatia and one of the aforementioned (most likely France) in the finals. 
  6. Like
    Mo- got a reaction from AROwnen in Shalomaleikum   
    Can you delete the post? At best it’s unfunny, at worst it is antisemitic and anti Bengali. 
  7. Like
    Mo- reacted to AROwnen in Shalomaleikum   
    Wow. That's the worst ever
  8. Like
    Mo- reacted to Haku in Shalomaleikum   
    Any more soon and you'll be banned
  9. Like
    Mo- got a reaction from cubster in Lots, but at what price.   
    Stay off the drugs. 
  10. Thanks
    Mo- got a reaction from Breeze in Random Islamic Questions   
    Astrology is both kufr and shirk. 
    If you believe stars cause certain events then it is shirk. If you believe you can discern the unseen by them it is kufr. 
     


     
  11. Like
    Mo- got a reaction from Breeze in My favourite quotes of Umar Ibn Al Khattab   
    Great thread. Omar (RA) is one of the most important of the sahaba to me because he espouses many of the values that make up a great deal of my heritage. Even before Islam, despite being the younger brother and having uncles and a father, he was chosen to represent his clan within the Quraysh tribal council meetings.
     
    It was also stated before his conversion to Islam, that if one of the two Omar's became Muslim (the other being 'Amr ibn Hashim, aka Abu Jahl), then the Mu'mineen would surely succeed.
     
    There is a series about his life, it has English subtitles too. You should check it out.
  12. Like
    Mo- got a reaction from Breeze in Funny Moments at Speakers Corner!   
    Speaker's Corner is hilarious but most of the religious debates are nonsense because the people engaging in them are pretty unknowledgeable of their own faith. 
  13. Like
    Mo- reacted to Mufasa in 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. 
  14. Like
    Mo- got a reaction from Spider in MM Awards 2024   
    I nominate Breeze for the following categories:
     
    Best Cryptographer
    Most Likely to Marry a FOB
  15. Like
    Mo- got a reaction from Spider in MM Awards 2024   
    I nominate Breeze for the following categories:
     
    Best Cryptographer
    Most Likely to Marry a FOB
  16. Like
    Mo- got a reaction from Spider in MM Awards 2024   
    I nominate Breeze for the following categories:
     
    Best Cryptographer
    Most Likely to Marry a FOB
  17. Like
    Mo- got a reaction from Spider in MM Awards 2024   
    I nominate Breeze for the following categories:
     
    Best Cryptographer
    Most Likely to Marry a FOB
  18. Like
    Mo- got a reaction from Spider in MM Awards 2024   
    I nominate Breeze for the following categories:
     
    Best Cryptographer
    Most Likely to Marry a FOB
  19. Like
    Mo- reacted to cubster in Last film you watched?   
    Anyone watched The Last Jedi?
  20. Like
    Mo- got a reaction from cubster in Cryptocurrencies: THE FUTURE IS HERE   
    I would like to add, blockchain itself and the concepts around it are generally very innovative and could lead to some major changes in the way we handle transactions by enhancing speed, security and allowing for a return to decentralization (similar to the free banking era of the past). The main issue with this of course is how it will affect government finances who are dependent on measures like quantitative easing/tightening where they can effectively print money or burn money. We've had central banks for the good part of the past century and they are essential for the existence of big governments. 
  21. Like
    Mo- got a reaction from cubster in Cryptocurrencies: THE FUTURE IS HERE   
    We have to define the differences between the two primary sorts of speculation:
     
    1. Speculative investing (halal),
    2. Gambling (haram).
     
    An example of speculative investment, for example, would be purchasing Exxon Mobil stock because you believe that they will outperform their peers and the market. This means that you inherently believe that the company is going to generate value for you over time and that is why you want to own its stock.

    An example of gambling, would be purchasing Exxon Mobil stock because you think the price will go up. Not because you inherently believe the company will generate value in the future, but simply because you are of the belief that the price of the stock itself will go up as a result of market momentum or another market force unrelated to underlying value. Now you're probably asking "didn't both examples contain the same action?". Of course, but the intentions were different. 
     
    How do you then apply this rule to Bitcoin? In the case of Bitcoin, or cryptocurrency in general, it isn't generating any value. Any movements it makes are driven by market momentum in one direction or another and are unrelated to any sort of underlying value. Why? Because Bitcoin isn't a value generating asset (like a house that can be rented, a company that produces goods or services, a cow that produces milk, etc.) in the traditional sense, in that you as an owner can't do anything with it that would generate value. The only way to generate value with cryptocurrencies is through the ones that operate a proof-of-stake model, but very few people would be able to acquire the amount of necessary cryptocurrency in a reputable PoS network.
     
    tl;dr unless you have enough for PoS on a reputable network, crypto is effectively gambling. 
  22. Like
    Mo- reacted to Haku in Cryptocurrencies: THE FUTURE IS HERE   
    I think you misunderstood him.
    Using bit coin as currency is okay according to some scholars, but final fatwa is pending.
     
    Investing in bitcoin (buy now and sell later) involves lot of uncertainty and hence extreme gharar. Otherwise it is like investing in currency, but with the uncertainty/bubble factor.
    I am not too sure about investing in traditional currency my self. 
  23. Like
    Mo- got a reaction from Mufasa in Cryptocurrencies: THE FUTURE IS HERE   
    Ok so I asked Sh. al Judai about a wide range of topics and their Islamic perspective. He told me some things to hold into generality:
     
    The four major madhabs do not have significant differences on what they consider halal and haram when it comes to modern financial transactions, as they did not deal with the same things we dealt with today. There are however minor differences on some points  Modern scholars, irrespective of madhab, take from a variety of sources (i.e., other madhabs and opinions, including those of non-traditional sources such as some trustworthy Shia sources (e.g. Sh. Muhammad Baqir al Sadr's book on banking has been cited by many) when it comes to Islamic finance. There is a lot of Ikhtilaf between scholars on numerous points, coming from both a lack of specialization and a large requirement for Ijtihad.   These things are important because, people often ask what a specific madhab says about a certain transaction, but due to the nuances of Islamic jurisprudence today and the rapid rate of innovation in fian
     
    Firstly, some definitions I learned (or improved upon):
    Qimar (gambling): Gambling occurs when two parties enter into an agreement that based on an outcome related to probability or chance, one party will win and the other will lose (e.g. a coin toss with a winner and a loser).  Gharar (risk, in finance, risk arising from speculation, synonymous with uncertainty): Is in Islamic business terms, when the outcome of a transaction bears some level of uncertainty. Investments with extreme Gharar are generally considered haram, for example, investing in something that is priced irrationally like a bubble with abnormal returns. Mudaraba (speculation): When an investor/market participant holds a certain view of the future and enacts a transaction based on this view (e.g. buying stock in a company deemed profitable). [Note: the common definition people use for this is the idea of the Mudaraba contract, which is a very narrow element of the actual theory]. Mudaraba al Sila' (speculation on a good/service/commodity): When a market participant purchases something for a holding period in the hope its price will change in the direction they favor by the end of this holding period (e.g. buying a barrel of oil and keeping it for sale at a later date for a higher price). Mudaraba al Si'ir (speculation on price): Where a market participant invests purely speculating on the price of something, and not on the thing itself (e.g., a contract for difference). This is haram as it is a form of gambling. Bay' (sale): the exchange of goods or services. Bay' al Salam (deferred sale): when a sale takes place, with the payment upfront and the good/service delivered at a later date. In this sense, this type of sale can take place in two manners in modern terms: Cash paid today for the provision of a good or service later; A good or service is provided today for the provision of cash later. Bay' al Inah (cash buyback): when a deferred sale takes place, but the good is sold back immediately at a lower price. This has major ikhtilaf, the Shafi'i's say it is permissible, but the other madhabs say it is generally not. All madhabs however agree that if the intention of the person is to essentially create an interest bearing loan in all but name (i.e. a heela [a work around]), it is haram. Cryptocurrencies:
     
    On Bitcoin, he informed me that the UK Fatwa Committee (which consists of himself, Sh. Suhaib Hasan and several other prominent UK based scholars) had decided putting money into Bitcoin (and cryptocurrencies in general) were not halal at the current time for multiple reasons:
    It is not currently recognized as legal tender in its current form, and several governments have instituted bans on it. This is contrary to the idea that Muslims should obey the laws of the countries they live in. It acts as a source of extreme Gharar. Whilst the idea itself does not go against Islamic principles (i.e., crypto in of itself isn't haram), the fact that it is primarily used for money laundering (whether by Chinese people going against capital controls or people who have illicit income through black market places), means it is currently unsuitable for use. Online trading:
     
    The Sh. corrected me on the point that speculation is not gambling Islamically, unless two parties are involved. I explained to him that, other than traditional retail brokerages which only generally sell vanilla stocks and bonds, most retail investors only have access to websites that provide CFD's (contract's for difference). He informed that this is equivalent to gambling if the speculation is being made in this case purely for the hope of an increase in price and contains two contracted parties.
     
    However in the case of actually owning the commodity/bond/stock, without a contract for difference, there is no problem with speculation as long as it does not carry extremely high risk.
     
    Insurance:
     
    Most scholars today say insurance is haram, but Sh. al Judai said it is halal generally speaking and there have been modern scholars from all backgrounds who hold the same view. He says this because, Bay' al Salam can be considered a primitive form of insurance and has generally been allowed. The issue with insurance comes down to contract specifics and the type of insurance (naturally for example, life insurance would be particularly troublesome Islamically).
     
    Insurance in itself can be sold in the form of an investment (e.g. an insurance company invests the money you give them for a particular policy in liquid assets, and grows a large enough balance sheet to pay off any claims) or it could be in the form of relying on the collective yearly payments from clients outweighing the collective yearly claims. The contracts themselves ultimately vary too and it really depends on a case by case basis.
     
     
    I asked him a bunch of other things in my time and went of plenty of examples for my own project. I can share those too but I felt what I included here were things related to the questions in this thread in particular. 
  24. Like
    Mo- got a reaction from superman in Cryptocurrencies: THE FUTURE IS HERE   
    1) but the loss is not proportional and is deemed an externality. In a bet, the loss is explicit and contracted between two parties, therefore it is gambling Islamically. When Walmart decides to open a new store, it isn't betting against the local stores, in fact due to agglomeration it is expected some local stores could even see an increase in customers. 
     
    2) speculation in Islam is halal. 
  25. Like
    Mo- got a reaction from Mufasa in Cryptocurrencies: THE FUTURE IS HERE   
    Ok so I asked Sh. al Judai about a wide range of topics and their Islamic perspective. He told me some things to hold into generality:
     
    The four major madhabs do not have significant differences on what they consider halal and haram when it comes to modern financial transactions, as they did not deal with the same things we dealt with today. There are however minor differences on some points  Modern scholars, irrespective of madhab, take from a variety of sources (i.e., other madhabs and opinions, including those of non-traditional sources such as some trustworthy Shia sources (e.g. Sh. Muhammad Baqir al Sadr's book on banking has been cited by many) when it comes to Islamic finance. There is a lot of Ikhtilaf between scholars on numerous points, coming from both a lack of specialization and a large requirement for Ijtihad.   These things are important because, people often ask what a specific madhab says about a certain transaction, but due to the nuances of Islamic jurisprudence today and the rapid rate of innovation in fian
     
    Firstly, some definitions I learned (or improved upon):
    Qimar (gambling): Gambling occurs when two parties enter into an agreement that based on an outcome related to probability or chance, one party will win and the other will lose (e.g. a coin toss with a winner and a loser).  Gharar (risk, in finance, risk arising from speculation, synonymous with uncertainty): Is in Islamic business terms, when the outcome of a transaction bears some level of uncertainty. Investments with extreme Gharar are generally considered haram, for example, investing in something that is priced irrationally like a bubble with abnormal returns. Mudaraba (speculation): When an investor/market participant holds a certain view of the future and enacts a transaction based on this view (e.g. buying stock in a company deemed profitable). [Note: the common definition people use for this is the idea of the Mudaraba contract, which is a very narrow element of the actual theory]. Mudaraba al Sila' (speculation on a good/service/commodity): When a market participant purchases something for a holding period in the hope its price will change in the direction they favor by the end of this holding period (e.g. buying a barrel of oil and keeping it for sale at a later date for a higher price). Mudaraba al Si'ir (speculation on price): Where a market participant invests purely speculating on the price of something, and not on the thing itself (e.g., a contract for difference). This is haram as it is a form of gambling. Bay' (sale): the exchange of goods or services. Bay' al Salam (deferred sale): when a sale takes place, with the payment upfront and the good/service delivered at a later date. In this sense, this type of sale can take place in two manners in modern terms: Cash paid today for the provision of a good or service later; A good or service is provided today for the provision of cash later. Bay' al Inah (cash buyback): when a deferred sale takes place, but the good is sold back immediately at a lower price. This has major ikhtilaf, the Shafi'i's say it is permissible, but the other madhabs say it is generally not. All madhabs however agree that if the intention of the person is to essentially create an interest bearing loan in all but name (i.e. a heela [a work around]), it is haram. Cryptocurrencies:
     
    On Bitcoin, he informed me that the UK Fatwa Committee (which consists of himself, Sh. Suhaib Hasan and several other prominent UK based scholars) had decided putting money into Bitcoin (and cryptocurrencies in general) were not halal at the current time for multiple reasons:
    It is not currently recognized as legal tender in its current form, and several governments have instituted bans on it. This is contrary to the idea that Muslims should obey the laws of the countries they live in. It acts as a source of extreme Gharar. Whilst the idea itself does not go against Islamic principles (i.e., crypto in of itself isn't haram), the fact that it is primarily used for money laundering (whether by Chinese people going against capital controls or people who have illicit income through black market places), means it is currently unsuitable for use. Online trading:
     
    The Sh. corrected me on the point that speculation is not gambling Islamically, unless two parties are involved. I explained to him that, other than traditional retail brokerages which only generally sell vanilla stocks and bonds, most retail investors only have access to websites that provide CFD's (contract's for difference). He informed that this is equivalent to gambling if the speculation is being made in this case purely for the hope of an increase in price and contains two contracted parties.
     
    However in the case of actually owning the commodity/bond/stock, without a contract for difference, there is no problem with speculation as long as it does not carry extremely high risk.
     
    Insurance:
     
    Most scholars today say insurance is haram, but Sh. al Judai said it is halal generally speaking and there have been modern scholars from all backgrounds who hold the same view. He says this because, Bay' al Salam can be considered a primitive form of insurance and has generally been allowed. The issue with insurance comes down to contract specifics and the type of insurance (naturally for example, life insurance would be particularly troublesome Islamically).
     
    Insurance in itself can be sold in the form of an investment (e.g. an insurance company invests the money you give them for a particular policy in liquid assets, and grows a large enough balance sheet to pay off any claims) or it could be in the form of relying on the collective yearly payments from clients outweighing the collective yearly claims. The contracts themselves ultimately vary too and it really depends on a case by case basis.
     
     
    I asked him a bunch of other things in my time and went of plenty of examples for my own project. I can share those too but I felt what I included here were things related to the questions in this thread in particular. 
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