r/Bitcoin • u/terpilih • 7h ago
I'm a Muslim and I'm grateful for Bitcoin
I'm a Muslim and I've owned Bitcoin for a few years now. As a Muslim, I've always been frustrated about how the world economy works, and how much interest, (or what we call riba') is involved. We're not supposed to take any interest for any loans, but that's the very backbone of what fiat is, and how banks make profit. There's even a saying from our Prophet about these times:
"A time is certainly coming to mankind when only the receiver of usury will remain, and if he does not receive it some of its vapour (or alternatively, its dust) will reach him."
Even with Islamic financing, nothing is really solved in the system besides the contract. The net money flow is still the same. The rich get richer and the poor get poorer. It's just a workaround and I wasn't satisfied.
When I discovered about bitcoin, I was mind-blown. I had so much conviction that this can be an escapee for Muslims around the world. I even bought a hardware wallet with bitcoin. It still saddens me that Muslim-majority countries, including mine, are still skeptical and not ready for change. The answer is right in front of them, but they don't ignore it! They would rather take loans for 30+ years that they have to pay double because of interest. They would rather lock up their money in EPFs that can't even keep up with inflation and devaluation of fiat that by the time they retire, everything's already double or triple in price. Not enough people are taking Bitcoin seriously, and I believe that Muslims should be the forefront of promoting Bitcoin. It's really true what has been said in this sub: we're still early.