Ultimately, I find this recent fatwa to be irrelevant for what
@BitcoinMajlis is trying to do. I do not even think it deserves a serious response. If the mufti had declared Bitcoin halal, what exactly would that have changed? At best, it would have given the Muslim biomass religious permission to trade it and leverage it degenately, and launch another thousand useless tokens, and rebuild Islamic riba on crypto rails. The Islamic finance crowd would not suddenly become principled Bitcoiners in a Digital Hijrah sense. They would copy Michael Seller’s treasury strategy, do it badly, somehow turn it into a fucking sukuk, and rehypothecate everything. But hey! It's all shariah compliant!
This is why I have little interest in campaigning for a halal fatwa on Bitcoin. It's also quite curious that the people most desperate for scholarly approval are not looking for monetary truth. They are looking for legitimacy for their shitcoinery. If these scholarly opinions still carried the authority people pretend they do, the real conversation would begin with fiat money itself, with its institutionalized riba + debasement.
But anyway, there are better uses of our time than begging states and scholars to understand what is already happening without them. They do not need to endorse us. They need to stay out of the way. We do not need them for Bitcoin to succeed, but it will become increasingly obvious that they will need the Muslims who are now building on it and actually using it as anti-Riba money.
