Go to settings Not now From your Digest Alfian Abdul Halin · Updated February 22, 202 1 Senior Lecturer at Universiti Putra Malaysia (UPM) (2011–present) CRYPTOCURRENCY IN A BUMPER RETURNS I am not an economist nor a financial adviser, but I do believe that I understand some basics about what money should be. Bitcoin , and other cryptocurrencies, claim to be the new money (or something like that). But at the very essence, their value is very much tied to the FIAT monetary system. Maybe before saying things are haram or halal, it might be best to understand money, first? Then maybe we’d be able to make a more educated decision… especially on whether or not to participate in bitcoin and the rest. MONEY : Let’s start with what money is. Since five to six thousand years, based on what I know, barter, gold and silver, and other trade-able goods were accepted as a medium of exchange. Gold and silver being the ones lasting the longest (up until today, albeit market manipulation), where