Amrush on Nostr: Great point. I hope for one day that I can use BTC for zakat directly. "لَن ...
Great point. I hope for one day that I can use BTC for zakat directly.
"لَن تَنَالُوا الْبِرَّ حَتَّىٰ تُنفِقُوا مِمَّا تُحِبُّونَ ۚ وَمَا تُنفِقُوا مِن شَيْءٍ فَإِنَّ اللَّهَ بِهِ عَلِيمٌ" آل عمران ٩٢
I think we can agree that direct contributions to مستحقي الزكاة would have more benefits to humanity than sending it to a burn address.
As for paper bitcoin, I don't see any issuer can sustain itself. It is a form of riba (creating money without risk or effort), and it will go the way of fiat. BlockFi and FTX are good evidence to that.
Even if governments use bitcoin to back fiat, people, logically at least, should prefer bitcoin. It is not like gold that it is hard to store and it is much easier to transact with. So why use fiat, if you can transact almost immediately on chain or on second layer?
"لَن تَنَالُوا الْبِرَّ حَتَّىٰ تُنفِقُوا مِمَّا تُحِبُّونَ ۚ وَمَا تُنفِقُوا مِن شَيْءٍ فَإِنَّ اللَّهَ بِهِ عَلِيمٌ" آل عمران ٩٢
I think we can agree that direct contributions to مستحقي الزكاة would have more benefits to humanity than sending it to a burn address.
As for paper bitcoin, I don't see any issuer can sustain itself. It is a form of riba (creating money without risk or effort), and it will go the way of fiat. BlockFi and FTX are good evidence to that.
Even if governments use bitcoin to back fiat, people, logically at least, should prefer bitcoin. It is not like gold that it is hard to store and it is much easier to transact with. So why use fiat, if you can transact almost immediately on chain or on second layer?