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July 2023
- 13 participants
- 516 discussions
28 Jul '23
Any coin that is under the authority of someone, or of some entity,
GovBankCorp, governance, etc... is doomed to fail from day one.
This shitcoin is no different. And just like this shitcoin,
Stay Away From Islam.
Dubai's ruling royal family is about to enter the crypto space with
Islamic coin.
by massimoed
Obligatory Warnings: This is not financial advice, DYOR. This is
neither a shill nor some religious fanboy post , just sharing my deep
dive on something interesting I came across, which at first glance
seemed like a joke.
Dubai is already one of the most crypto friendly country being a safe
haven for exchanges & having 0% tax on capital gains from crypto.
Today while looking into the rain exchange being approved in UAE, I
came across a post about Islamic coin (ISLM), at first I thought it
was some joke, like a meme coin or something, like we're gonna have
some religious crypto battle with other religion named coins.
Then I discovered that it's actually being launched by the members of
ruling family of Dubai. Obviously they have the funds to fund their
project, but they have outside funding of over 400 million as well,
with 200 million deal in June from Alpha Blue Ocean's ABO digital. (I
believe it's a french VC firm).
I went to their website, read the white paper & researched it around
the internet and here's my list of red flags (mostly) & green flags:
Red flags:
I looked into it's white paper, mostly some bullshit about
"empowering the Islam followers of the world"
This is an actual quote from the white paper: "If 3-4% of the
Muslim online community will hold Islamic Coin, it will become a
bitcoin-scale crypto asset, generating a trillion dollars for its
holders, and $100 billion for the Evergreen DAO". This makes it seem
that they just wanna excite the investors & only care about making
gains.
The total token supply will be 100 billion (which reminds me of
XRP & how heavily dumped it is). The initial supply will be 20
billion. 4.3 billion coins will be minted every in the first two
years, from then on out the emissions will be reduced by 5% every two
years. This means more than half of the supply (50 billion) will be
out there within 18 years. 4.3 Billion tokens potentially being dumped
is every two years is not good for price action.
They have an oracle called "Shariah" for on-chain registry of
halal certificates, so any dApp on it must get this approval which is
ultimately the decision of the "Shariah board", so basically the royal
family controls what goes on there.
The initial token supply is not great with a lot of tokens going
to initial investors & not making it clear how much exactly is gonna
be Airdrops:
2 billion – Evergreen Foundation: Charity fund & fund for
other web3 projects.
5.5 billion – Partners & initial investors
4 billion – Private Sale
5.5 billion – Business reserve for airdrops, operational costs, grants.
3 billion – For founders (Royal family I guess)
Obviously a government (ruling family, in this case) launching a
token is more about control rather than anything else.
Green flags:
Their blockchain HAQQ is ethereum codebase compatibility (so devs
can build using the same tools as in ethereum) & IBC (Inter-blockchain
communication protocol) that allows interoperability with other IBC
compliant chains like cosmos & in future, ethereum.
They've been developing it since 1 year with testnet, then
main-net & so far being on point with each milestone.
The biggest green flag is that the royal family obviously have
deep pockets & deep connections. In Q4 2023, they're gonna implement
ISLM coin as payment method with 20 major partners in MENA
(Middle-east North Africa region), launch a mastercard backed by their
coin. They're also gonna launch gold pegged stable coin in cooperation
with UAE banks.
Both red & green flag:
The royal ruling family: This might be just a way to make their
pockets even deeper, but then again their pockets are already deep &
this could actually be a genuine way for them to compete in the web3
space with every country trying to make their own blockchain. Dumping
their own token & egging their face will be bad PR on an international
stage, but there could be slow sell offs to potentially make billions.
Token & airdrop
The airdrop snapshot has already been taken.
The token hasn't been launched yet. There's another coin with a
similar name (IslamiCoin) that has pumped ~300% in the last 10 days,
obviously stay away from it.
My thoughts
It's probably not gonna be a pump & dump for royal family to make
their pockets deeper. But there's probably gonna be an initial dump
because 50% of initial supply is going to initial investors.
I think it's more about control, with crypto being embraced by
them they wanna steer the public more towards their coin rather than
others. They're doing this by making their wallet & mastercard an
"easy way" to pay for goods & services and people probably are gonna
use it, since most muslims care about goods & services being halal &
any merchant that the coin works with will be halal certified.
They'll probably gonna expand into doing large transactions with
their gold pegged stable.
I'm not gonna be apeing into it, I'm gonna see how it plays out
for a few months.
That's all folks!!
[–]seva98 65 points66 points67 points 1 day ago (65 children)
Isnt this against their religion?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 101 points102
points103 points 1 day ago (27 children)
They decide what the religion is, when it suits them
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[–]LePanzerIn Satoshi we trust 49 points50 points51 points 1 day ago
(20 children)
As all religions do.
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[–]Ben_Dover1234Bronze | QC: CC 18 15 points16 points17 points 1 day
ago (12 children)
Religions have rules until they change.
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[–]Odd-Radio-8500Tin | 2 months old 3 points4 points5 points 1 day ago
(0 children)
Right, religions have rules we interpret it for our liking.
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[–]itbedeef 7 points8 points9 points 1 day ago (8 children)
Let's make our own religion rules!
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[–]Easy-Medicine-8610Tin 2 points3 points4 points 1 day ago (0 children)
Sounds like plain ol humans to me.
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 2 points3 points4 points 1 day
ago (2 children)
Let's make our own
We already did.
The 10 commandments of /r/cryptocurrency can be found listed on the
right hand side of this sub.
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[–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 1 point2
points3 points 1 day ago (1 child)
And you, sir, are one of our prophets.
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 2 points3 points4 points 1 day
ago (0 children)
The closest to profit seen in this sub.
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[–]Da_OG_EnderTin | 6 months old 3 points4 points5 points 1 day ago (3 children)
With hookers and beer!
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[–]ztkraf01Platinum | QC: BTC 100, CC 94 | MiningSubs 30 -1 points0
points1 point 1 day ago (0 children)
Catholics do this. Except the hookers are little boys
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[–]White__Walter 0 points1 point2 points 21 hours ago (0 children)
You mean Tits and Wine?
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[–]deathbyfish13Free Range Moon Farmer 1 point2 points3 points 1 day
ago (0 children)
That's deep
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[–]PiedDansLePlatPlatinum | QC: CC 58 | ADA 8 | Superstonk 16 0
points1 point2 points 19 hours ago (0 children)
Religion small rules changes, the overall dogma stay the same. They
try to gives one truth and a moral, but that's their strenght and
weakness
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[–]tasfarell 7 points8 points9 points 1 day ago (3 children)
Ppl like to forget about all the books they took out of the bible.
https://totallythedream.com/books-removed-from-the-bible/
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[–]LePanzerIn Satoshi we trust 5 points6 points7 points 1 day ago (1 child)
They never read : "There she lusted after her lovers, whose genitals
were like those of donkeys and whose emission was like that of
horses." in church as well :(
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 0 points1 point2 points 1 day
ago (0 children)
They never read :
Be the change you want to see in the world.
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[–]Purple_is_masculineTin -1 points0 points1 point 1 day ago (0 children)
Nothing removed, they just didn't use those texts when compiling the
Bible. And those texts were of varying quality, some basically ancient
fanfiction..
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[–]Hawke64Platinum | QC: CC 199 3 points4 points5 points 1 day ago (2 children)
Maybe we should start one. We can call it Cramer's Witnesses or
something like that.
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[–]LePanzerIn Satoshi we trust 0 points1 point2 points 1 day ago (1 child)
Cramers Witnesses knock on your door and ask: "Do you have a moment
for us to urge you to sell your bitcoins NOW?!"
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[–]tomasbabr 2 points3 points4 points 1 day ago (0 children)
Thats for sure, rules are rules until they decide to alter them to
benefit themselves.
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[–]prkr88Bronze | QC: CC 19 | LRC 31 | ExchSubs 20 0 points1 point2
points 1 day ago (0 children)
Cheers! 🍻
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[–]KingHiggins92 0 points1 point2 points 1 day ago (0 children)
The correct answer and with upvotes. Wow Reddit did good today.
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[–]confirmSuspicionsPlatinum | QC: ALGO 127, CC 74 | PCgaming 78 0
points1 point2 points 1 day ago (0 children)
As is tradition
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[–]omghag18 0 points1 point2 points 1 day ago (0 children)
Better to stay away from religious things in crypto
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[–]obsessedgleaner194 7 points8 points9 points 1 day ago (1 child)
money is true religion
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[–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 1 point2
points3 points 1 day ago (0 children)
The ultimate god of all peoples in this world.
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[–]skankhunt_4Tin 4 points5 points6 points 1 day ago (0 children)
Not per se, as long as no interest is involved.
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[–]tomasbabr 2 points3 points4 points 1 day ago (0 children)
People tend to forget about things when it comes to money..
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[–]Josefumi12 7 points8 points9 points 1 day ago (1 child)
They got $Halal already /s
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[–]Ben_Dover1234Bronze | QC: CC 18 1 point2 points3 points 1 day ago
(0 children)
Oh no
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[–]peskyant 2 points3 points4 points 1 day ago (2 children)
it is? we aren't supposed to get interest, but who says about cryptocurrency
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[–]sakata32Platinum | QC: CC 742 2 points3 points4 points 1 day ago (0 children)
yeah what part of it is against the religion?
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[–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago* (0 children)
Is a royal rug pull different than a generic rug pull? I'm just
curious if there is more prestige in being royally rugged.
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 1 point2 points3 points 1 day
ago (0 children)
Isnt this against their religion?
I don't think the Quran quite covered off the rules for trading DOGE and PEPE.
You may be referring to references regarding the earning of
"interest", which this does not do.
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[–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 2 points3
points4 points 1 day ago (0 children)
I’d imagine having obscene amounts of money, having people carry out
murders for you, and generally ignoring a lot of the rules of your
religion is against their religion, but here we are… /s
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[–]AverageCadian 1 point2 points3 points 1 day ago (0 children)
My first thoughts exactly. Plenty of islamic mates who don't even have
interest on their savings accounts. Would love to know how this would
work.
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[–]CymandeTV 1 point2 points3 points 1 day ago (0 children)
Easy when the money flows already. They already have the black gold.
Why not the digital one now?
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[–]robbie5643Platinum | QC: CC 77 1 point2 points3 points 1 day ago (0 children)
Charging interest is for sure (regardless if it’s followed/they use
work arounds) but I’m pretty sure they’re significant debate about
receiving it if the profits aren’t from other Muslims. I’m also not
sure if this counts as equity bs interest so I’m thinking it’s largely
ok.
Full disclosure not Muslim but I work in banking and this was super
fascinating to me, so I’ve had some conversations about this
specifically with Muslims lol
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[–]CryptoTechLyfe 1 point2 points3 points 1 day ago (0 children)
Simple answer: No. Crypto is not inherently against the Islamic religion.
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[–]Tasigur1Tin 1 point2 points3 points 1 day ago (0 children)
Crypto is ok, interest is forbidden!
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[–]Legal-Bid2695 2 points3 points4 points 1 day ago (1 child)
Thats what I was thinking
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[–]QptimisedTin 0 points1 point2 points 1 day ago (0 children)
It's Haram for sure.
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[–]BrocoliAssassin 0 points1 point2 points 1 day ago (0 children)
Just as long as you don't draw the coin's logo anywhere you should be fine.
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[–]sgtslaughterTVPlatinum | QC: CC 204, NANO 48, BTC 27 0 points1
point2 points 1 day ago (0 children)
I'm a Muslim and recited Shahada a few months ago. There is ongoing
debate about whether or not bitcoin is Haram in Muslim societies
globally. Personally, there is no doubt in my mind that staking
cryptocurrency is Haram, as this introduces something that is known as
"Riba", or "interest". But holding cryptocurrency is not.
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[–]XWarriorYZPlatinum | QC: CC 710, CCMeta 23 | Stocks 32 -1 points0
points1 point 1 day ago (0 children)
Money is the only true religion
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[–]harveytentTin -1 points0 points1 point 1 day ago (0 children)
Nah the sharia board said it’s ok and they trump all others like that
far out there Muhammad dude
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[–]kraygus -1 points0 points1 point 1 day ago (0 children)
Yes, but they changed it.
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[–]_Zazu95_Tin | CC critic | ADA 15 -1 points0 points1 point 1 day ago
(0 children)
It definitely is😂
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[–]lordofming-risesSilver | QC: CC 468 | CRO 70 | Superstonk 237 0
points1 point2 points 1 day ago (0 children)
I think staking is Haram so not really against but the airdrop and rewards is
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[–]Dingle-DingusTin 0 points1 point2 points 1 day ago (0 children)
Serious question: how would minting a cryptocurency being against
their religion?
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[–]HairyChest69 0 points1 point2 points 1 day ago* (0 children)
Bitcoin is your God now.
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[–]DrinkMoreCodeMoreSilver | QC: CC 347, GPUmining 29, ETH 16 | ADA 42
| Hacking 143 0 points1 point2 points 1 day ago (0 children)
For anyone curious, Muslims/the Islamic banking system have some very
odd and interesting banking rules.
https://en.wikipedia.org/wiki/Riba
https://www.investopedia.com/terms/r/riba.asp
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[–]xyzzy8 0 points1 point2 points 1 day ago (0 children)
I don’t think cryptocurrency was around in 600-700 AD
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[–]kanzie_blitzPlatinum | QC: CC 25 0 points1 point2 points 1 day ago
(0 children)
It’s halal!
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[–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2
points 1 day ago (0 children)
That didn't stop other religions from doing it in the past, they
usually delegate the task itself to "heathens".
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[–]correkt-horse 0 points1 point2 points 21 hours ago (0 children)
Well, I guess the ruling royal family of Dubai is proving that even
religious beliefs can adapt to the ever-evolving world of
cryptocurrencies.
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[–]OffenseTaker 0 points1 point2 points 14 hours ago (0 children)
staking is haram
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[–]ChemicalAnybody6229 15 points16 points17 points 1 day ago (6 children)
Christian coin Loading....... 10 billion circulating suply
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 9 points10
points11 points 1 day ago (2 children)
$JEW has entered the chat
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[–]TrifBoiBronze 0 points1 point2 points 1 day ago (0 children)
$TAO knocks on door
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[–]Legal-Bid2695 2 points3 points4 points 1 day ago (0 children)
The crusaders
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[–]Biff-1985-Tannen 1 point2 points3 points 1 day ago (0 children)
Does it purchase children to rape or something?
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[–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (0 children)
The $Atheist coin community denies your existence on the chain
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[–]eat-sleep-rave 14 points15 points16 points 1 day ago (5 children)
I think Quran is against lending money for profit.
It says nothing about releasing a coin
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[–]Legal-Bid2695 4 points5 points6 points 1 day ago (1 child)
Thats why it is 0% tax
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[–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 0 points1
point2 points 1 day ago (0 children)
They should have used Banano instead
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 0 points1 point2 points 1 day
ago (0 children)
It says nothing about releasing a coin
"It's OK bro, we changed the word, so it's all good now!"
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[–]MagicPlumberLow Crypto Activity 0 points1 point2 points 1 day ago
(0 children)
They found the loophole.
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[–]Kindly-Wolf6919 13 points14 points15 points 1 day ago* (1 child)
How bout no. This definitely won't end well so I hope whoever falls
for this likes giving away their money.
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 0 points1 point2 points 1 day
ago (0 children)
This definitely won't end well so I hope whoever falls for this
likes giving away their money.
We can paste this comment against 99.9% of tokens.
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[–]socialpetroll 5 points6 points7 points 1 day ago (1 child)
I'm a degenerate. I'm not missing it. This token is gonna BLOW UP TO THE MOON
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 1 point2 points3
points 1 day ago (0 children)
wait out the initial dump before going full degen
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[–]jooro_aTin 15 points16 points17 points 1 day ago (28 children)
The holy crypto war is coming, we are waiting for the Vatican coin for
the crusades
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[–]TZinTheKeys 4 points5 points6 points 1 day ago (1 child)
Time for the Vaticoin !
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[–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 1 point2
points3 points 1 day ago (0 children)
This name is so good I would buy the Vaticoin domain just to sit on it
and sell it to the Pope when he decides to launch a coin. My plans
wouldnt work if he launched $PopeCoin instead though.
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[–]holykaminaPlatinum | QC: CC 90 | r/Pers.Fin.Cnd. 28 4 points5
points6 points 1 day ago (2 children)
Wait until someone in Sweden burns the coin outside some embassy..
Holy crypto war
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[–]jooro_aTin 2 points3 points4 points 1 day ago (1 child)
But the burning is good for the price...
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[–]holykaminaPlatinum | QC: CC 90 | r/Pers.Fin.Cnd. 28 2 points3
points4 points 1 day ago (0 children)
Lmao, touche
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[–]LePanzerIn Satoshi we trust 6 points7 points8 points 1 day ago (11 children)
You get a free altar boy if you run a node.
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[–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 4 points5
points6 points 1 day ago (2 children)
Brings a whole new meaning to “alt” coins.
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[–]deathbyfish13Free Range Moon Farmer 1 point2 points3 points 1 day
ago (1 child)
Are we in "alter coin" season yet?
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[–]holykaminaPlatinum | QC: CC 90 | r/Pers.Fin.Cnd. 28 -1 points0
points1 point 1 day ago (0 children)
Bullish on AlterCoin
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[–]Hawke64Platinum | QC: CC 199 2 points3 points4 points 1 day ago (0 children)
FBI this comment right here
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[–]Josefumi12 4 points5 points6 points 1 day ago (1 child)
Time to run three nodes
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[–]yesweyolo 1 point2 points3 points 1 day ago (0 children)
r/dafuq
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[–]damittydam 1 point2 points3 points 1 day ago (0 children)
How do i run a node, asking for a friend...
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[–]Mr_Bob_FergusonPlatinum | QC: CC 445 1 point2 points3 points 1 day
ago (0 children)
You get a free altar boy if you run a node
"No, you can't stake your altar boy"
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[–]Legal-Bid2695 2 points3 points4 points 1 day ago (0 children)
Im dead ☠️
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[–]Ben_Dover1234Bronze | QC: CC 18 -1 points0 points1 point 1 day ago (1 child)
Staking rewards include a creepy priest and candles
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[–]LePanzerIn Satoshi we trust 0 points1 point2 points 1 day ago (0 children)
Maybe the doll to show where the priest touched him is already included.
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[–]strongkhalSilver | QC: CC 84 | CRO 64 | ExchSubs 64 1 point2
points3 points 1 day ago (0 children)
I lol'ed so hard
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[–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 2 points3
points4 points 1 day ago (0 children)
Would be a hard coin to track though. Every time something goes wrong
they’ll just move it to another parish wallet.
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[–]Ben_Dover1234Bronze | QC: CC 18 -1 points0 points1 point 1 day ago
(3 children)
$JESUS is on its way
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[–]damittydam 2 points3 points4 points 1 day ago (1 child)
$CROSS & $NAIL loading
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[–]yesweyolo 0 points1 point2 points 1 day ago (0 children)
How bout $SOLJESUS? (I think that's what it's called.) Is he coming too?
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[–]DeeperBagsPlatinum | QC: CC 29 -1 points0 points1 point 1 day ago
(0 children)
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[–]Elgato_TJTin | CC critic 0 points1 point2 points 1 day ago (0 children)
Or hear me out with $SATAN
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[–]manbeardawgTin | Politics 28 0 points1 point2 points 1 day ago (1 child)
No one expects the Spanish In-coin-sition.
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[–]JuggaliciousMemes 0 points1 point2 points 1 day ago (0 children)
👌that was fire👌 best comment i’ve read all day
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[–]tchuckssBronze | QC: CC 23 | LRC 24 | Superstonk 109 0 points1
point2 points 1 day ago* (0 children)
As prophesized by Megadeth:
Brother will scam brother
Stealing coins across the chain
Scamming for religion
Something I don't understand
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[–]HKEnthusiast 4 points5 points6 points 1 day ago (2 children)
Meh. I'll buy $100 and see what happens
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 4 points5 points6
points 1 day ago (1 child)
Initial dump is pretty much programmed with 50% supply going to
initial investors
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[–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 0 points1
point2 points 1 day ago (0 children)
Sweet exit liquidity
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[–]Itsjuleso 9 points10 points11 points 1 day ago (1 child)
waiting to see certified halal crypto
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[–]Particular_Put5007Tin | 3 months old 0 points1 point2 points 1 day
ago (0 children)
If it benefits them, they’ll find way to certify it.
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[–]chukelemonTin 7 points8 points9 points 1 day ago (2 children)
A religion based coin is blasphemy.
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[–]JuggaliciousMemes 4 points5 points6 points 1 day ago (0 children)
theres so much blasphemy in this comment section😩
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[–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 -1 points0
points1 point 1 day ago (0 children)
In America we literally have religious messages printed on our money.
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[–]AnonymousOldGuy 5 points6 points7 points 1 day ago (9 children)
Are you automatically placed on a TSA watchlist when you buy?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 6 points7 points8
points 1 day ago (4 children)
depends how long your beard is and if you wear shoes, they got major
beef with shoes
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[–]tasfarell 5 points6 points7 points 1 day ago (3 children)
yes or no - birds being real?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 1 point2 points3
points 1 day ago (0 children)
Obviously government drones
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[–]Ben_Dover1234Bronze | QC: CC 18 1 point2 points3 points 1 day ago
(0 children)
You need to make sure a bird didn't see you type this.
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[–]AnonymousOldGuy 0 points1 point2 points 1 day ago (0 children)
Yes, if by real you mean sophisticated, biological spy drones
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[–]GrapeRaisinTin 1 point2 points3 points 1 day ago (0 children)
😂
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[–]dontknowtooBronze | GMEJungle 31 | GME subs 60 1 point2 points3
points 1 day ago (0 children)
made me lol
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[–]ohmygodbeats7Platinum | QC: CC 571, DOGE 231 | LRC 6 | WeedStocks
82 0 points1 point2 points 1 day ago (1 child)
Pretty racist
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[–]AnonymousOldGuy 0 points1 point2 points 1 day ago (0 children)
It was a joke, and last I checked, Islam is a religion.
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[–]Josefumi12 5 points6 points7 points 1 day ago (4 children)
Bullish on $Halal
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[–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 4 points5
points6 points 1 day ago (1 child)
Will it operate on $haria network?
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[–]Odd-Radio-8500Tin | 2 months old 1 point2 points3 points 1 day ago*
(0 children)
On whatever network it operates when ruling Royal family, put their
money in it then you know its hard to keep it, Haram.
But Sharia law permits investment in digital currencies.
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[–]Particular_Put5007Tin | 3 months old 2 points3 points4 points 1 day
ago (0 children)
Any crypto lost will be the sacrifice so others can benefit
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[–]Odd-Radio-8500Tin | 2 months old 0 points1 point2 points 1 day ago
(0 children)
Bullish on $ISLM
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[–]Mammon84Tin | NEO 12 2 points3 points4 points 1 day ago (2 children)
How did people get the airdrop?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 0 points1 point2
points 1 day ago (1 child)
by downloading their wallet & doing some tasks, idk what they were.
They haven't gotten the airdrop, the snapshot for airdrop has been
taken, they'll get the drop when token is launched.
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[–]Mammon84Tin | NEO 12 0 points1 point2 points 1 day ago (0 children)
Thanks for the info
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[–]tomasbabr 2 points3 points4 points 1 day ago (0 children)
I do remember some controversy around investing in cryptocurrency and
the religion a decent while back, this was kinda unexpected to say the
least.
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[–]CptBombastic 2 points3 points4 points 12 hours ago (0 children)
Bullish on Halal coin!
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[–]deckartcain 9 points10 points11 points 1 day ago (11 children)
As a Muslim, this is a big no for me.
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[–]goldyluckinblokchainBronze | QC: CC 15 3 points4 points5 points 1
day ago (5 children)
Should most crypto be a no for you then as its speculation and is not halal?
Genuine question btw cause my understanding was speculating in this
manner is not halal.
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[–]deckartcain 2 points3 points4 points 1 day ago* (4 children)
As of 2023, there's a 50/50 divy as to it being halal or not. Just a
few years ago, scholars were almost all against it, but most due to it
not having enough of a track record to show for it.
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[–]TheJobinslegendTin 3 points4 points5 points 1 day ago (3 children)
Pretty sure the Quran advices against gambling and intoxicants, but
not straight up ban them, differently than other things/actions the
Quran says they're specific Haram. For example, for Gold and Silk
“Gold and silk have been permitted for the females of my ummah and
forbidden for the males.”
I haven't read the entire Quran yet (I'm reading all the "main
religion" books for research, curiosity and get some knowledge), so
there might be a later passage that says those things are banned.
Maybe it's a translation issue from where I'm reading, but advising
strictly against all it's different than saying they're not permitted.
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[–]deckartcain 0 points1 point2 points 1 day ago* (1 child)
Investments are really not considered gambling, but there’s ample
warning against risky financial decisions. What you might be referring
to is maysir which is speculation or gambling. My take on that is that
there’s neither in BTC investment, and I’ve studied up on the
decisions made by the scholars who voiced their opinion on it.
When it comes to Islam, we don’t just guide our lives according to the
Quran, but also according to the Sunnah; the teachings of the prophet.
A lot of Islamic countries are also ebmracing it. A good indicator of
it starting to become a legitimate currency.
The defacto authorities on finance according to most Islamic opinions
are the central banks.
In the Islamic world they operate under the Shariah, meaning that
they’re under guidance from top Islamic scholars, to ensure that they
stay true to Islamic teachings in their business models.
There’s also different schools of jurisprudence, meaning that there’s
different interpretations and rulings on various subjects. So in Dubai
you’ll find Hanafis, Malikis and Shafi’is, whereas in Saudi Arabia
you’ll find almost exclusively Hanbali jurisprudence.
Some examples of rulings on the permissability of Bitcoin:
Sharia Review Bureau in Bahrain
Scholars from the Sharia Review Bureau in Bahrain said in 2018 that
investments in cryptocurrencies such as ether (ETH) and bitcoin are
permitted under Sharia law and, therefore, halal.
Mufti Taqi Usmani
Mufti Taqi Usmani has a different perception, arguing that Bitcoin and
other cryptocurrencies are haram because they are used in speculative
investments and illegal transactions.
Moreover, he says a currency is generally supposed to be a medium of
exchange under Sharia law. When it is used to generate profits, it
becomes haram. Therefore, in the words of Usmani, Muslims are not
allowed to accept crypto as currencies.
The Shariah Committee Chairman of HSBC Amanah Malaysia Bhd, Dr. Ziyaad Mahomed
According to Dr. Ziyaad Mahomed, the Sharia law doesn’t require
currencies to have intrinsic value. Instead, society should agree that
a currency is valuable and acceptable in day-to-day transactions.
Judging by this view, this could mean the Islam community could
consider bitcoin halal if there was a social consensus to use it as a
currency.
Mufti Muhammad Abu-Bakar
Sharia advisor Mufti Muhammad Abu-Bakar’s crypto interpretation may
have triggered a significant increase in BTC and ETH investment within
the Muslim community in 2018.
He argued that all currencies have a speculative element, which means
bitcoin’s speculative nature doesn’t necessarily make it haram, as
every other currency can also be considered to be speculative in
nature. Therefore, in his opinion, bitcoin is halal.
Shaykh Shawki Allam
The Egyptian Grand Mufti Shaykh Shawki Allam believes digital assets
are haram since they have not earned enough credibility as currencies.
His reasoning is similar to other Middle East Sharia scholars, who
view crypto as high-risk assets.
“In my opinion, the trading of cryptocurrency is haram. This is
because it is not approved by legitimate bodies as an acceptable
medium of exchange. Such currencies are used in contraband trading and
money laundering,” he said.
Asrorun Niam Sholeh
Asrorun Niam Sholeh is the head of religious decrees for Indonesia’s
council of Islamic scholars. In his opinion, crypto trading is illegal
because digital assets “have elements of uncertainty, wagering, and
harm.”
Anas Amatayakul
Anas Amatayakul, a scholar that has led the committee directing the
Islamic Bank of Thailand in Sharia, has an interesting take.
His fatwa (legal ruling) on crypto is that people should avoid it, but
only for now. Amatayakul says he’s pro-technological change but admits
the crypto space is so fast-moving that Muslims should avoid it for
now to protect their wealth.
Fiqh Council of North America
The unanimous fatwa from North America’s Fiqh Council is that Bitcoin
is halal under Sharia law.
The Sharia Advisory Council Branch of the Security Commission in Malaysia
This council’s view is similar to the position the Fiqh Council of
North America has taken. The members of this council reckon that
crypto trading and investment are permitted under Sharia law.
That's just a few I found online quickly. As you can tell, there's a
widespread opinion on the matter. So perhaps the madhab in Dubai ruled
Bitcoin as impermissable, but they're still embracing blockchain
technology to the point of making their own blockchain just a few
years after it starting to become a trend in most Middle Eastern
countries.
I personally do not live in an Islamic country, so I'm a bit wandering
when it comes to which rulings to follow. In my research on the
rulings that declare it haram, it generally has a lot of faulty
understanding of the concept of PoW, BTC and blockchain technology.
However going all-in on an altcoin hoping for 100x, or something akin
to that, is definitely forbidden.
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[–]Z3LS3Bitcoin 0 points1 point2 points 9 hours ago (0 children)
I think it has to do with profiting from lending money but I’m no
religious scholar I might be confused
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[+][deleted] 1 day ago (4 children)
[deleted]
[+][deleted] 1 day ago (3 children)
[deleted]
[+][deleted] 1 day ago (2 children)
[deleted]
[–]rootplMoonwalker -1 points0 points1 point 1 day ago (1 child)
Mmm... meat-balls.
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[–]Ben_Dover1234Bronze | QC: CC 18 -1 points0 points1 point 1 day ago
(0 children)
Is there an IKEA in the desert?
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[–]Silver-dutch 1 point2 points3 points 1 day ago (0 children)
The red flags gives me rug pull vibes
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[–]dont_drink_and_2FABronze | QC: CC 23 | NANO 204 1 point2 points3
points 1 day ago (2 children)
This is definitely about control, exactly the other way what crypto
was once supposed to be. The argument about it being the royal family
wanting to extend their pockets is probably true BUT look at what kind
of shit investment they do with investments, from Burj Khalifa without
plumbing to the world islands and what not. They arent THAT savvy imo.
But Dubai being a tax heaven for crypto is another good argument and I
think we will see some good products coming from UAE.
This one, well not so much
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 1 point2 points3
points 1 day ago (1 child)
Yeah, I also think it's more about control than deepening their
pockets, they're probably gonna intrench it within the banking &
payments sector so much that buying goods with any other payment
option will become a slight inconvenience for the citizens
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[–]dont_drink_and_2FABronze | QC: CC 23 | NANO 204 0 points1 point2
points 1 day ago (0 children)
probably china style social credit with cbdcs or some shit "that one
is a good muslim, that one not so much" all done by reactionary old
men. can. absolutely. not. go. tits. up.
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[–]terra993 1 point2 points3 points 1 day ago (0 children)
Halal coin
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[–]Checkofant 1 point2 points3 points 1 day ago (0 children)
This makes it seem that they just wanna excite the investors &
only care about making gains.
Sounds a lot like all the other altcoins ^^
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[–]Creative_Ad7831 1 point2 points3 points 1 day ago (2 children)
Some muslim thinks that crypto is similiar to gamble. Bit surprised
that royal arabian family decided to get his hand in to crypto
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[–]PiedDansLePlatPlatinum | QC: CC 58 | ADA 8 | Superstonk 16 -1
points0 points1 point 19 hours ago (0 children)
like the mormons rulling las vegas, here they only cares about money,
we know their morals is the worst on this planet (sexism, racism,
homophobia, ...)
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[–]Arbitrage650 1 point2 points3 points 1 day ago (0 children)
the demand for oil and their supply will inevitably dry up (at least
at some point), smart of them to continuing to diversify
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[–]Just_Some_DummyTin | 4 months old | DayTrading 16 | TraderSubs 17 1
point2 points3 points 1 day ago (0 children)
They're going to crash that shit on purpose.
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[–]Easy-Medicine-8610Tin 1 point2 points3 points 1 day ago (0 children)
Is a royal rug pull different than a generic rug pull? I'm just
curious is there is more prestige in being royally rugged.
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[–]ParadoxSebxTin 5 points6 points7 points 1 day ago (2 children)
Ticking time bomb
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[–]AnonymousOldGuy 0 points1 point2 points 1 day ago (0 children)
Underrated comment
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[–]Legal-Bid2695 -4 points-3 points-2 points 1 day ago (0 children)
Came here for this
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[–]ohmygodbeats7Platinum | QC: CC 571, DOGE 231 | LRC 6 | WeedStocks
82 2 points3 points4 points 1 day ago (0 children)
This thread is full of a bunch of unfunny, insensitive jokes.
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[–]Geolinear 0 points1 point2 points 1 day ago (0 children)
Is SalamiCoin going to flip BTC?
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[–]Florian995Tin 0 points1 point2 points 1 day ago (13 children)
There are way more red flags than green flags and if a coin is called
islamic coin I already know how it will end
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[–]LePanzerIn Satoshi we trust 2 points3 points4 points 1 day ago (8 children)
It will bomb.
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 2 points3 points4
points 1 day ago (1 child)
You never know, maybe it'll take off and...uhm... nevermind
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[–]goldyluckinblokchainBronze | QC: CC 15 1 point2 points3 points 1
day ago (2 children)
Bit much that mate leave that kinda joke for the comedians lol
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[–]LePanzerIn Satoshi we trust -5 points-4 points-3 points 1 day ago (1 child)
If this project sounded less sketchy I could have written it will
explode! Maybe becoming a comedian is my true destiny!
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[–]goldyluckinblokchainBronze | QC: CC 15 0 points1 point2 points 1
day ago (0 children)
Dayuuuum
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[–]Killertimme 0 points1 point2 points 1 day ago (2 children)
faster than a truck
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[+][deleted] 1 day ago (1 child)
[deleted]
[–]Odysseus_Lannister -1 points0 points1 point 1 day ago (0 children)
I’m partial to $QURAN
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[–]Feeling_Ad_411Silver | QC: CC 127 | GMEJungle 24 | Superstonk 664 0
points1 point2 points 1 day ago (2 children)
I was looking for the comedy flair, but nope
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 1 point2 points3
points 1 day ago (1 child)
I thought it was a meme, then I decided to look it up
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[–]Feeling_Ad_411Silver | QC: CC 127 | GMEJungle 24 | Superstonk 664 0
points1 point2 points 1 day ago (0 children)
Crazy that’s a real concept lol
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[–]Legal-Bid2695 0 points1 point2 points 1 day ago (0 children)
I thought this was haram in Islam
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[–]lookwhatumademedoo 0 points1 point2 points 1 day ago (1 child)
Unsubstantiated promises, scam tactics, centralization, religion mixed in.
This is gross.
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 1 point2 points3
points 1 day ago (0 children)
yeah, more red flags than green as I stated
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[–]ll_TheBrave_ll 0 points1 point2 points 1 day ago (2 children)
Religion and money. What could go wrong? /s
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[–]dont_drink_and_2FABronze | QC: CC 23 | NANO 204 2 points3 points4
points 1 day ago (0 children)
as much as in alcohol and guns?
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[–]Particular_Put5007Tin | 3 months old 1 point2 points3 points 1 day
ago (0 children)
Actually I won’t be shocked if this combination can make some people a
lot of money.
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[–]tambaybtc 0 points1 point2 points 1 day ago (2 children)
Crypto has:
No religion
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[–]shockfella 0 points1 point2 points 1 day ago (0 children)
If it has no religion it also has all religions
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[–]Bitter_Storage_2918 0 points1 point2 points 1 day ago (0 children)
I agree
Crypto is a religion
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[–]CryptoTechLyfe 0 points1 point2 points 1 day ago (1 child)
The amount of unbridled bigotry from users in these comments in wild.
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[–]JuggaliciousMemes 1 point2 points3 points 1 day ago (0 children)
blasphemy and bigotry, this comment section is wild as hell
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[–]obsessedgleaner194 -1 points0 points1 point 1 day ago (0 children)
I guess it's haram for women's
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[–]BamesStronkNondTin -1 points0 points1 point 1 day ago (0 children)
Guessing women won’t be allowed to buy it then?
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[–]purplevoiletduckTin -1 points0 points1 point 1 day ago (0 children)
Your post is “haram” /s
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[–]National_Range6369 -2 points-1 points0 points 1 day ago (0 children)
It's gonna bomb (aka rugpull).
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[+][deleted] 1 day ago (2 children)
[deleted]
[–]Killertimme 0 points1 point2 points 1 day ago (0 children)
Right next to the page where it says to respect women.
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[–]Legal-Bid2695 -2 points-1 points0 points 1 day ago (0 children)
Alhamdulillah coin
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[+][deleted] 1 day ago (1 child)
[deleted]
[–]Legal-Bid2695 0 points1 point2 points 1 day ago (0 children)
It will be chaos
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[–]k3surfacermy coin is better than your coin -1 points0 points1 point
1 day ago (1 child)
Islamic coin
The holly shitcoin. No burning mechanism. Peace.
:))
Edit: In a second thought, maybe we can ask Swedish people to buy the
coin and burn it. Would be a "freedom of pump" campaign.
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 0 points1 point2
points 1 day ago (0 children)
I think the meeting with devs went pretty much like this:
Dev: So I'm thinking the supply should be 1 billion or less....
King: 1 billion, what is this peasant shit, go and print 100 billion
Dev: What about burning....
King: You want to burn my token & commit haraam
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[–]Man-Tax -2 points-1 points0 points 1 day ago (0 children)
They should name it Allah.
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[–]Ztriever_ 0 points1 point2 points 1 day ago (0 children)
Rich people think everything is a good idea.
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[–]Sorandy13 0 points1 point2 points 1 day ago (0 children)
No interest
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[–]NotAnAlcoholicTodayPlatinum | QC: CC 93, XTZ 32 0 points1 point2
points 1 day ago (0 children)
Just the title was enough of a red flag for me to know i won't touch
it with a 10km pole 😬
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[–]moonkingdome 0 points1 point2 points 1 day ago (0 children)
Its a great step.. Way better then a cbdc.
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[–]pwntipatience the key is 0 points1 point2 points 1 day ago (0 children)
They better invest in BTC
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[–]StonedRexPlatinum | QC: CC 181 0 points1 point2 points 1 day ago (0 children)
Sounds sketchy to me, to say at least. I don't like someone with that
much power to be behind it, in the end all of they want is more power.
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[–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 0 points1
point2 points 1 day ago (0 children)
I don't think we need to give more money to bunch of billionaires.
Additionaly if that coin would be released by non muslims everyone
would protest cause it is against Islam to lend money for profit and
much more. Whole idea of this coin sound as parody of faith. I don't
think if even with it being created by royal family of Dubai any true
muslims will buy it at all. Mostly bunch of american kids that will
want to make profit on it.
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[–]Redditceodork 0 points1 point2 points 1 day ago (0 children)
Kosher crypto who'd have ever imagined
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[–]Suprcow_oneTin 0 points1 point2 points 1 day ago (2 children)
"If 3-4% of the Muslim online community will hold Islamic Coin, it
will become a bitcoin-scale crypto asset, generating a trillion
dollars for its holders, and $100 billion for the Evergreen DAO".
that does not sound very haram, nor Islam to me?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 0 points1 point2
points 1 day ago (0 children)
Yeah, and that line is straight up in the white paper
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[–]SeisouhenPlatinum | QC: CC 57, BTC 52 0 points1 point2 points 1 day
ago (0 children)
haram
halal
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[–]Dull-Wear-3286 0 points1 point2 points 1 day ago (0 children)
Oil money entering crypto will be bullish.
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[–]LePanzerIn Satoshi we trust 0 points1 point2 points 1 day ago (0 children)
Scammers will scam: "Send me your foreskin and I'll double your coins!"
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[–]HansonWKPlatinum | QC: CC 79 | PennyStocks 36 0 points1 point2
points 1 day ago (0 children)
It's literally against their religion lmfao. They've been saying for
the last 10 years to not buy crypto.
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[–]OfulinacPlatinum | QC: CC 32 0 points1 point2 points 1 day ago (0 children)
The Middle East at this point is just trying to outdo the West in
everything. They already made some points with the World Cup in Qatar
and with the Saudi League amassing an insane number of European stars
in just one transfer window.
Gonna follow it all but not too interested in investing in it.
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[–]BusinessBreakfast3Platinum | QC: BTC 28, CC 22 | CRO 5 0 points1
point2 points 1 day ago (1 child)
What was the airdrop eligibility?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 0 points1 point2
points 1 day ago (0 children)
something to do with downloading their wallet & doing a bunch of
tasks, idk much about it, I found out about this coin today.
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[–]ShinAlastor 0 points1 point2 points 1 day ago (0 children)
This is haram.
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[–]ErmingardiaPlatinum | QC: CC 540 | Unpop.Opin. 50 0 points1 point2
points 1 day ago (0 children)
The red flags outweigh the green flags in my opinion.
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[–]EEGECGEMG 0 points1 point2 points 1 day ago (0 children)
a lot of conversions to ISLAM hhhhhhh
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[–]TheRedditPhone 0 points1 point2 points 1 day ago (0 children)
This sounds..scary..
Very little of any of the middle eastern royal families is good.
Except for themselves ofc.
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[–]DankOceanTin 0 points1 point2 points 1 day ago (0 children)
This is sketchy AF. It’s against Islam to collect interest on loans.
They really have to stick the landing on all of these mental
gymnastics in order to believe it’s Haram.
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[–]mbouhda 0 points1 point2 points 1 day ago (0 children)
Dubai's ruling royal family entering the crypto space with Islamic
coin is like a wealthy kid setting up a lemonade stand and claiming
it's a world-changing business.
I'll watch this crypto soap opera from a safe distance.
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[–]No-Setting9690Bronze 0 points1 point2 points 1 day ago (0 children)
I will not support this token for various reasons.
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[–]OnelinersandbluesPlatinum | QC: ETH 120 | TraderSubs 120 0 points1
point2 points 1 day ago (0 children)
Oh good god fuck these people.
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[–]HereticLaserHaggis 0 points1 point2 points 1 day ago (0 children)
How's the airdrop been calculated?
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[–]Dazzling_Marzipan474Platinum | QC: CC 26 | ADA 6 | ExchSubs 14 0
points1 point2 points 1 day ago (0 children)
How the rich get richer
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[–]Roundaboutright 0 points1 point2 points 1 day ago (0 children)
Sounds scamish
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[–]damittydam 0 points1 point2 points 1 day ago (0 children)
I reckon other rich muslim countries are gonna wanna compete & come up
with their own, then there's gonna be debates like which muslim coin
is the most halal
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[–]Small_everyPermabanned 0 points1 point2 points 1 day ago (0 children)
Ah, yes, the royal family's "Islamic coin" with grand promises of
empowering Islam followers and becoming a trillion-dollar asset. Who
needs a sensible token supply when you can flood the market every two
years with billions of coins? And let's not forget the "Shariah"
oracle, where a chosen few decide what's halal on the blockchain.
Total decentralization, right? Oh, and the royal family controlling it
all is just so trustworthy. It's undoubtedly a selfless endeavor and
not a way to fill their pockets further. #PureSarcasm
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[–]Ben_Dover1234Bronze | QC: CC 18 0 points1 point2 points 1 day ago
(0 children)
Islamic Coin sounds very un-Islamic, right?
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[–]chocolateboomslangPlatinum | QC: CC 73 | CRO 5 | Investing 41 0
points1 point2 points 1 day ago (0 children)
This rugpull is going to be insane
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[–]theycallmekimpembeTin | 5 months old 0 points1 point2 points 1 day
ago (0 children)
The Allahu Akbar coin
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[–]TrifBoiBronze 0 points1 point2 points 1 day ago (0 children)
Islamic coin sound like just the next scam lol
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[–]FlangepacketSilver | QC: CC 274, BTC 32, ETH 28 | r/SSB 42 |
TraderSubs 21 0 points1 point2 points 1 day ago (1 child)
Ffs - where do I buy?
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[–]massimoedPlatinum | QC: CC 37 | TraderSubs 13[S] 0 points1 point2
points 1 day ago (0 children)
It's gonna launch on 1st september
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[–]ThrowawayHoper 0 points1 point2 points 1 day ago (0 children)
How tf are they going to get around the Islamic rules against
interest? If there’s any staking involved I’m not sure how it’s not
haram
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[–]SjiznitSilver | QC: CC 465 | GMEJungle 29 | Superstonk 212 0
points1 point2 points 1 day ago (0 children)
Do we have a Jezuscoin yet? Could be a hit
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[–]knobblyer 0 points1 point2 points 1 day ago (0 children)
$HARAM
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[–]ThrowawayHoper 0 points1 point2 points 1 day ago (0 children)
For those asking ‘surely this is haram??’, probably not
Shariah law is against gaining interest, but not taking profits. In
the sense that, an Islamic investment fund basically can only pay out
dividends from the profits of the invested-in company. The companies
also basically can’t be vices, warfare, pork or conventional finance.
It’s not clear where crypto falls - an Egyptian Grand-Mufti issued a
fatwa against BTC. Indonesia has banned it as against Sharia Law.
Whereas an Arab researcher has proposed a ML model to determine if
crypto is haram or halal. Based on that, BTC ETH and DOGE are halal,
whereas SHIB and CAKE are Haram.
So the CAKE is a lie.
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[–]GrapeRaisinTin 0 points1 point2 points 1 day ago (0 children)
Time to start that PastafarianCoin
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[–]Soberdonkey69 0 points1 point2 points 1 day ago (0 children)
Is this a grand scale pump and dump for the wealthy elitists?
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[–]elysiansaurusPlatinum | QC: CC 20 | CAKE 6 | r/WSB 286 0 points1
point2 points 1 day ago (0 children)
100 billion supply? Wtf. I stay away from anything over 1 billion
usually (sorry ALGO)
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[–]madirishpoet 0 points1 point2 points 1 day ago (0 children)
I'm gonna release communist coin with a 100% sell tax that I will
distribute fairly and evenly * terms and conditions apply
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[–]DolladubTin 0 points1 point2 points 1 day ago (0 children)
Isn't gambling illegal for Muslims?
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[–]JGCheemaTin 0 points1 point2 points 1 day ago (0 children)
I m not even surprised with every rich person launching their own crypto
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[–]Robo_0Gold | QC: CC 29 0 points1 point2 points 1 day ago (0 children)
but thats haram
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[–]Gamethesystem2 0 points1 point2 points 1 day ago (0 children)
Dubai doesn’t have a mutual extradition treaty w the US. It’s why most
big time criminals like living there. I wouldn’t touch anything this
government had to offer.
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[–]sucobeShill me, daddy. 0 points1 point2 points 1 day ago (0 children)
TL;DR all in on religious coin phase.
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[–]starhumanpanda[🍰] 0 points1 point2 points 1 day ago (0 children)
Where is the catholic coin
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[–]Scythro_Bronze | QC: CC 15 | GMEJungle 26 | Superstonk 207 0
points1 point2 points 1 day ago (0 children)
Looking at the comments, why am I the only one here thinking that this
is actually a pretty dope money making opportunity? I understand from
a moral perspective why someone wouldn’t want to get involved, but
since when do we invest based on morals?
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[–]KingHiggins92 0 points1 point2 points 1 day ago (0 children)
Honestly, I'm kinda thinking it's worth a punt. Agreed they'll be an
initial dumparoo but I'm going to watch this one.
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[–]forestman11 0 points1 point2 points 1 day ago (0 children)
Dear God this is alarming
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[–]harveytentTin 0 points1 point2 points 1 day ago (0 children)
So will my Bored Yacht Muhammad’s nft line get approval?
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[–]FGTRTDtradesTin 0 points1 point2 points 1 day ago (0 children)
I can see them artificially pumping their coin just for the sake of it.
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[–]x-thugTin 0 points1 point2 points 1 day ago (0 children)
In allah we trust
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[–]DarnegarTin 0 points1 point2 points 1 day ago (0 children)
Lol couldnt they even try spending 5 minutes on a tad more original name?
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[–]bears_or_bullsBronze 0 points1 point2 points 1 day ago (0 children)
Only good if you get in mega early for the pump and dump. Otherwise avoid.
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[–]bangand0 0 points1 point2 points 1 day ago (0 children)
Have these coins been minted the halal way though?
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[–]tchuckssBronze | QC: CC 23 | LRC 24 | Superstonk 109 0 points1
point2 points 1 day ago (0 children)
They've done it. The madmen done it. The Halal coin.
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[–]rahhumilovedogsTin 0 points1 point2 points 1 day ago (0 children)
Lol. K bruh. Oil prince?
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[–]girl-from-brRedditor for 6 months. 0 points1 point2 points 1 day
ago (0 children)
How can I know when it's launched? Asking for a degen friend.
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[–]Redfoot87Tin 0 points1 point2 points 1 day ago (0 children)
As a Muslim I'll give you $10 to fuck off. I really hate initial
investors. Fuck off with that shit. They're gonna dump on everyone who
comes in later. It's like a ponzi.
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[–]Chesteel1 0 points1 point2 points 1 day ago (0 children)
Well, this is interesting! Dubai's royal family getting into crypto?
This Islamic coin could be a real game-changer, especially in terms of
adoption in the Middle East.
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[–]zdubs 0 points1 point2 points 1 day ago (0 children)
Allah make it easy
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[–]Mariahausfrau 0 points1 point2 points 1 day ago (0 children)
Those famililies are above religion rules. They do as the like and
others obey. Democracy isnt on their vocabulary.
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[–]the_far_yardStack a Sat, Stash a Gwei, Bull or Bear, D-C-A. 0
points1 point2 points 1 day ago (0 children)
The irony is that there's more sense on how Moons are running rather
than this coin, and I'm a Muslim.
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[–]omghag18 0 points1 point2 points 23 hours ago (0 children)
Not hurt any religious sentiments but : They might do a rug pull in
the name of God , saying it all belongs to God
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[–]MajorLeons 0 points1 point2 points 23 hours ago (0 children)
This is great new for the crypto community until US peaks in and will
try to argue that this can be used to fund terrorists.
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[–]TheRicFlairDripTin 0 points1 point2 points 23 hours ago (0 children)
bullish!
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[–]PiedDansLePlatPlatinum | QC: CC 58 | ADA 8 | Superstonk 16 0
points1 point2 points 20 hours ago (0 children)
The first flying rug pull
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[–]Independent_Level_77 0 points1 point2 points 17 hours ago (0 children)
How could this be halal, can someone elobarate please? Isn't
accumulating money is a big no in Islam?
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[–]entilfeldigfyr69Tin | 0 months old 0 points1 point2 points 16 hours
ago (0 children)
I am not religious, but even I can see an obvious investment
opportunity when I see one.
Short term, this can be very lucrative if you get in early and get out
before they rug.
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1
0
Old lore reissued...
https://wallmine.com/people/36050/michael-w-brown
https://coinfomania.com/this-user-once-owned-10-of-the-btc-supply/
This article discusses the story of Michael Mancil Brown, also known
as KnightMB, who once owned over 370,000 BTC, equivalent to 10% of
Bitcoin's total circulating supply. However, Brown eventually sold or
donated his BTC holdings and got involved in a cryptocurrency project
called Timekoin. He was later arrested for blackmailing Mitt Romney in
exchange for Bitcoin and was convicted of wire fraud and extortion.
Currently, there is no individual or institution holding such a large
amount of BTC, with publicly-traded companies like MicroStrategy and
Marathon Digital being the largest holders. The article highlights the
significant increase in Bitcoin's price since KnightMB's ownership,
with BTC currently trading at $29,100.
1
0
A large-scale meeting of international anarchists in Switzerland has disrupted the smooth running of the rail schedule by forcing the cancellation of several trains.
From swissinfo.ch
July 22, 2023
The sprawling five-day event involving thousands of anarchists has centered on the Swiss town of St Imier, but some participants have decided to camp too close for comfort to the railway tracks.
At first, trains were ordered to cut their speed on Saturday morning. But the service between La-Chaux-de-Fonds and St Imier was later completely cut.
A replacement bus service has been laid on, but the Watson news portal reports calls from some anarchists for up to CHF60,000 ($70,000) in compensation for the inconvenience.
The Swiss authorities told Watson that a decision on the matter would have to wait until the anarchist event ends after the weekend.
The anarchists’ gathering marks the 150th anniversary of the Congress of St-Imier which, in 1872, saw the foundation of the Anti-Authoritarian International movement.
The event includes 268 lectures and workshops, 48 concerts, 42 screenings, 11 theatrical performances, seven exhibitions and a book fair, according to the association “150 Years Saint-Imier Congress”.
1
0
The term " Tankie " cannot be used in any weaselly way to distinguish so-called Stalinists. And that's because what's called Stalinism is simply ramped up Leninism. The only difference is scale.
The term " Tankie " applies to every Bolshevik active in Russia from the German warmongers finance of Lenin’s train-ride on…
And Zinoviev didn’t just talk about liquidating millions of Russian’s he helped enable the deaths of thousands in the Tambov region.
“…Tuchachevsky also had chemical weapons, which Zinoviev had purchased in Halle while attending the German Communist " Splitting” congress in October 1920…" - P319 " The Russian Revolution - a new history "
Where they use WW1 weapons of war - trains, poison-gas, etc - there they will use TANK’s. All Tankie’s are Marxist-LENINISTS.
No more games.
1
0
Crypto economics is taking over cryptocurrency that itself took over from the fabled ' digital cash ' we talked up here for years ( Everyone a Swiss Bank! )
Privacy is lagging but enough lip service is paid it so we may also claim long-term victory is assured. We will have ubiquitous anonymity just as we will all enjoy the benefits of the globalized crypto-economics that are most assuredly coming soon.
Not to run victory laps here so much as look forward to setting further goals for our collective effort. Learning how to be rich and powerful in our own right.
Cryptoanarchist revolutionaries have the chance to build on a new global paradigm. We don't need business as usual transferred into a Matrix.
We won't need suits and we won't need specialists so long as free speech is encrypted code and vice versa.
My modest proposal is cryptoanarchist C-punks build a consensus ( conversation - narrative - etc ) over more ambitious goals moving forward.
Such as a globalized UBI from below sans all direct govt and/or religious support, then linked by a consent or release form digitally signed stating that the recipient pleb agree to recognize they may be subject to APster justice.
Nothing fancy - just kill off all the existing powers.
Because when the ancien-regime is gone that's when you know you've had a great revolution.
The death of all govts, all religions and all large corporations is our life.
Welcome to the revolution.
1
0
28 Jul '23
Meanwhile all you do is keep begging them to fuck you harder...
When are you sheeple going to rise up and bankrupt them
out of power by adopting and using crypto they can't touch...
"The Creature from Jekyll Island"
The real price of out-of-thin-air money: UK taxpayers faces £150bn bill
to cover Bank of England’s QE losses
https://www.ft.com/content/ee8e33ee-e16e-459b-af32-5709db6874de
https://archive.is/Eeiju
"The BoE is indemnified against losses on the QE programme under an
agreement signed with the Treasury in 2009, intended to ensure that
monetary policy is not constrained by the implications for the central
bank’s balance sheet."
1
0
The prince of search engines formerly known as Google appears to be going dark faster than we are - oh well . . .
The recent memory holing of a communist commissar in red-fascist China reminded me of this gem from 1992.
notes for a talk given to the Dublin branch, March 11th 1992 by Aileen O'Carroll
https://struggle.ws/talks/cheka.html
Ripostes not snortments. El pueblo unido will never be defeado.
1
0
NYS Regulator Fined Deutsche Bank $150 Million Over Ties to Jeffrey Epstein but Says It Doesn’t Have a Scrap of Paper on JPMorgan and the Sex Trafficker
by Gunnar Larson 27 Jul '23
by Gunnar Larson 27 Jul '23
27 Jul '23
https://wallstreetonparade.com/2023/07/nys-regulator-fined-deutsche-bank-15…
On July 5, Wall Street On Parade filed a Freedom of Information Law (FOIL)
request with the New York State Department of Financial Services (DFS), the
state agency that investigates and penalizes financial institutions for
engaging in illicit activities. We were curious as to why the DFS had fined
Deutsche Bank upwards of $150 million on July 7, 2020 for its illicit
dealings with the sex trafficker of underage girls, Jeffrey Epstein, but
had remained silent on any investigations or fines against JPMorgan Chase.
Our curiosity was heightened by the fact that Deutsche Bank had only a
5-year banking relationship with Epstein, from 2013 to 2018, while JPMorgan
Chase had a 15-year banking relationship with Epstein, from 1998 to 2013.
When we examined the details in the consent order that the DFS had filed
against Deutsche Bank, our curiosity was heightened further. According to
the consent order, over the course of Deutsche Bank’s relationship with
Epstein, more than $800,000 in cold hard cash was withdrawn from Epstein’s
accounts.
On Monday, in a filing in federal court in lower Manhattan, the Attorney
General of the U.S. Virgin Islands revealed that “Between September 2003
and November 2013, or approximately ten years, JPMorgan handled more than
$5 million in outgoing cash transactions for Epstein — ignoring its own
policy discouraging large cash withdrawals….”
Laundering $5 million in cash for a sex trafficking ring is 6.25 times that
of laundering $800,000 for a sex trafficking ring, so we would have
expected to see a fine by the NYS DFS of at least $937.5 million against
JPMorgan Chase, especially given the fact that JPMorgan Chase is a
recidivist criminal with five felony counts already brought against it by
the U.S. Department of Justice and admitted to by the bank.
The Attorney General of the U.S. Virgin Islands is suing JPMorgan Chase in
federal court and demanding more than $190 million in monetary damages as
well as injunctive relief – meaning that the bank has to change the way it
conducts its business. The U.S. Virgin Islands’ lawsuit charges the
following:
“Plaintiff, the Government of the United States Virgin Islands
(‘Government’), claims and will prove that Defendant JPMorgan Chase Bank,
N.A. (‘JPMorgan’) violated the Trafficking Victims Protection Act, 18
U.S.C. §§ 1581-1597 (‘TVPA’), by knowingly participating in and benefitting
from Jeffrey Epstein’s sex-trafficking and by obstructing investigation
through its concealment of Epstein’s suspicious transactions from law
enforcement. Discovery confirms that JPMorgan knowingly, recklessly, and
unlawfully provided and pulled the levers through which Epstein’s
recruiters and victims were paid and was indispensable to the operation and
concealment of Epstein’s trafficking. JPMorgan had real-time information on
Epstein’s payments that the Government did not and had specific legal
duties to report this information to law enforcement authorities, which it
intentionally decided not to do.”
The federal court in Manhattan now has hundreds of internal emails, dozens
of depositions, and thousands of documents backing up the claims being made
by the U.S. Virgin Islands.
The U.S. Virgin Islands is approximately 1,600 miles from JPMorgan Chase
headquarters in Manhattan. The DFS headquarters in Manhattan is
approximately 5.9 miles from the Park Avenue headquarters of JPMorgan Chase
at the time Epstein was a client. The DFS main office at 1 State Street in
Manhattan is approximately 7.2 miles from Epstein’s former mansion at 9
East 71st Street where school-age girls were being sex-trafficked, raped
and sexually assaulted for years by Epstein and his rich pals, according to
lawsuits filed and settled using funds wired out of both JPMorgan Chase and
Deutsche Bank.
With such proximity to the scene of the hideous crimes, why has the public
heard nothing about any investigation or fines or injunctive relief being
leveled against JPMorgan Chase by the New York State Department of
Financial Services?
Having filed our sunshine law records request on July 5, we waited
anxiously for answers from the DFS. Yesterday, July 26, we received a
one-page response from George Bogdan, Senior Attorney in the General
Counsel’s Office for the DFS.
We had asked for any documents that simultaneously included the phrases
“JPMorgan” (or J.P. Morgan) and “Jeffrey Epstein” for the period of
01/01/2008 through 12/31/2019. Mr. Bogdan informed us that the DFS didn’t
have so much as one scrap of a record responsive to our request; that it
was closing our request; and it didn’t regulate or charter JPMorgan Chase
Bank, N.A.
But when we checked the DFS portal showing entities regulated by the DFS,
we found eight separate subsidiaries of JPMorgan Chase that are regulated
by the DFS.
State attorneys general are empowered under the Trafficking Victims
Protection Act, 18 U.S.C. §§ 1581-1597 (‘TVPA’) to bring cases against sex
traffickers and those that aid them. Why hasn’t this been done by the New
York State Attorney General? Why is it being left to the Attorney General
of the U.S. Virgin Islands?
More importantly, with the mountain of evidence against JPMorgan Chase that
has been developed in the three separate Epstein-related lawsuits that have
been filed in federal court in Manhattan, why hasn’t the U.S. Department of
Justice brought criminal charges against the bank for money laundering? The
DOJ brought two criminal felony counts against JPMorgan Chase in 2014 for
laundering money for Bernie Madoff’s Ponzi scheme. Why the hesitation now?
There is a growing feeling among investigative reporters and other engaged
Americans that when it comes to JPMorgan Chase and its Chairman and CEO,
Jamie Dimon, who has presided over this unprecedented, decade long crime
spree at the bank, the DOJ and regulators are simply afraid to take on the
1,000-attorney law firms that the bank hires to battle its way out of its
crimes and get cushy deals like non-prosecution agreements and
deferred-prosecution agreements.
Currently, in the three lawsuits against JPMorgan Chase related to Epstein
in federal court (one by Epstein’s victims, one by the U.S. Virgin Islands,
and one on behalf of shareholders), the bank has the 1,000-attorney law
firm of WilmerHale representing the bank and the 1,000-attorney law firm of
Paul Weiss representing its Board in the shareholder lawsuit.
Bloomberg News, for its part, is running the equivalent of an infomercial
for Jamie Dimon today (paywall). Its video, plastered on its digital front
page, carries the headline: “Bankers Want to Work for Jamie Dimon.”
Seriously? So they can be charged with racketeering or deposed in a sex
trafficking case? The video informs us that: “Wall Street is crushing on
Jamie Dimon more than ever…Some bankers, many of whom have only worked in a
low rate, cheap money environment, are looking to Dimon as the Wall Street
captain they most want to work for.”
This is not the first time we have caught Bloomberg News shilling for
Dimon. (See Bloomberg News Bashes Wells Fargo While Canonizing JPMorgan
Chase’s CEO Jamie Dimon, Despite 3 Felony Counts at His Bank (written
before the bank got another two felony counts) and The Craziest Video
You’ll Ever Watch on JPMorgan’s Jamie Dimon.
One might be forgiven for thinking that the fact that billionaire Michael
Bloomberg, majority owner of the parent of Bloomberg News, whose billions
of dollars in wealth derives significantly from the tens of thousands of
data and trading terminals it leases to JPMorgan’s trading floors around
the world, might be less than aggressive in reporting on the serial crimes
at the bank with Dimon at the helm.
All of this matters greatly to every American. JPMorgan Chase is the
largest federally-insured bank in the United States. Its deposit-taking
bank, Chase Bank, has 4,916 branch offices in 49 U.S. states plus another
198 branches on foreign soil. As of December 31, 2022, JPMorgan Chase held
$2.43 trillion in deposits, of which only 40 percent were insured by the
Federal Deposit Insurance Corporation. (The other 60 percent of deposits
either exceeded the $250,000 per depositor/per bank cap on insurance or
were deposits on foreign soil which are not insured by the FDIC.)
To paraphrase Richard Nixon, Americans needs to know if the largest bank in
their country is a serial crook, incapable of changing its ways. If Big Law
is standing in the way of that, the 1,000-attorney law firms need to be
broken up along with the Too-Big-to-Fail banks. If you agree, please call
your U.S. Senators today and demand action.
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Mr. Marzulli:
Potential, new upward circumstances come to you today.
Gunnar
On Mon, Dec 13, 2021, 11:30 AM Gunnar Larson <g(a)xny.io> wrote:
> Mr. Marzulli:
>
> Thank you for our conversation today concerning Goldman Sachs' Deferred
> Prosecution Agreement
> <https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=…>
> with the United States.
>
> - We are concerned that the agreement has been violated
> - As we discussed together today, Ms. Karen P. Seymour is no longer
> with Goldman Sachs
> - The agreement outlines that Ms. Seymour having complete and full
> liberty of maintaining the deferred agreement's terms and conditions
>
> Keeping all this in mind, and given Ms. Seymour is no longer with the
> firm, does the US Attorney's office have an updated copy of the deferred
> agreement given the circumstances?
>
> Sending you the very best regards.
>
> Thank you,
>
> Gunnar Larson
> --
> *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>*
> MSc
> <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…>
> - Digital Currency
> MBA
> <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…>
> - Entrepreneurship and Innovation (ip)
>
> G(a)xNY.io
> +1-646-454-9107
> New York, New York 10001
>
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Tim May is dead. John Galton is dead - and I don't feel very well myself.
Govt power may have declined dramatically since the rise of our power - but they still have inertia to spare till the crypto-economic Big Bang. They can tax goods and services more than incomes while playing delaying games via spurious " friendly " regulation.
So we're still years away from generalised collapse-of-govts ( CoG? )
I guesstimate four more years at full warp.
This brings us up to Cypherpunk 2027.
The start of ubiquitous quantum networking, default ( True Names! ) anonymity for all and everyone-an-assassin. Nothing helps pass long overdue reform measures like a good, strong, generalised ( now GLOBALISED) social revolution. Praise Gall. Praise Metcalfe.
But, above all, praise Proudhon. Good ideological money drives out bad everytime.
And nothing is stronger or better than an idea whose time has come.
Roll on the world revolution
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