Drudge Retort: The Other Side of the News
Sunday, April 15, 2018

Although speculative, some believe the sudden price surge was to do with an Islamic scholar deeming cryptocurrency compliant with Islamic Sharia law. Islam is the fastest growing religion, with over 1.6 billion people worldwide following it.

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Every muslim I know has been playing with Bitcoins and such for a long time. They don't need some scholar to tell them it's Halal.

However, trillion dollar government funds controlled by the likes of UAE and Saudi, would like some sort of islamic-legal endorsement.. they are notoriously conservative. If THEY shift even a fraction of their money into Bitcoins... well now.

Bitcoin is here to stay. Backed by Arab money. Yippy.

#1 | Posted by J_Tremain at 2018-04-15 09:24 AM | Reply

The only entity that will have kittens now is the USA.

"Bitcoin will make it easier to fund terror" or some such ridiculous nonsense will be heard out of DC (Dumdum Capital).

#2 | Posted by J_Tremain at 2018-04-15 09:27 AM | Reply

Up $2000 over the past week to $8300.

I laugh at the suckers who bought in at $19000.

#3 | Posted by 726 at 2018-04-15 10:36 AM | Reply

And to think some supposedly patriotic US Christian folks choose sharia bitcoin (invented and majority held by foreigners) over US legal tender blessed by God. SAD!

Without a currency there is no country.

Sharia bitcoin is invading the US financial system and stealing wealth.

Bitcoin is the number of the beast. All who possess it are heathens. Repent now or burn in help for eternity.

Or, take your chances with eternal damnation for some filthy lucre.

#4 | Posted by bored at 2018-04-15 11:27 AM | Reply

"Bitcoin will make it easier to fund terror"

That isn't an incorrect statement. Anonymous currencies make it easier to transfer assets across borders, in attempts to stay under the radar.

But there are still methods to track such transactions.

#5 | Posted by GOnoles92 at 2018-04-15 11:36 AM | Reply

Bitcoin isn't really anonymous.
You can have an anonymous wallet but the transaction ledger is public.
If you ever reveal your identity as part of a transaction, all your transactions are public.

The NSA knows.

#6 | Posted by bored at 2018-04-15 11:49 AM | Reply

I just don't get why bitcoin has value. It sounds like a tulip fantasy. You could argue that because it's a limited currency (only 4 billion bitcoins can conceivably be mined, because 2^32 or something) and the energy cost of mining a new one (three days of intense computer power?) I guess it sort of is like gold, except without actually being anything at all.

And now its one advantage has vanished: it can be traced. Bitcoin could have powered the black market, but it turns out that the exact opposite is true: if you use it, you get watched. And then the IRS shows up. So how is that a selling point?

#7 | Posted by HeliumRat at 2018-04-16 06:39 PM | Reply | Newsworthy 1

"I just don't get why bitcoin has value."

Really, you don't get why a way to move money that doesn't involve banks has value?

#8 | Posted by snoofy at 2018-04-16 06:47 PM | Reply

#8 Is this a lead-in to some kind of conspiracy theory? Please explain yourself in detail. You do know what purpose banks serve, right?

#9 | Posted by HeliumRat at 2018-04-16 07:06 PM | Reply

You do know what purpose banks serve, right?

To enrich the elite.

Crypto currencies take banks and regulators out of situations between free peoples. Two people decide on what has value, trade it amongst themselves and the govt doesnt know anything about it. That's what a crypto currency is for.

#10 | Posted by boaz at 2018-04-16 09:46 PM | Reply

Crypto currencies take banks and regulators out of situations between free peoples. Two people decide on what has value, trade it amongst themselves and the govt doesnt know anything about it. That's what a crypto currency is for.

POSTED BY BOAZ AT 2018-04-16 09:46 PM | REPLY

I don't see how this is constitutional considering that.

en.wikipedia.org

The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, created the United States dollar as the country's standard unit of money, established the United States Mint, and regulated the coinage of the United States.[1] The long title of the legislation is An act establishing a mint, and regulating the Coins of the United States. This act established the silver dollar as the unit of money in the United States, declared it to be lawful tender, and created a decimal system for U.S. currency.[2]

#11 | Posted by LauraMohr at 2018-04-16 09:53 PM | Reply

I don't see how this is constitutional considering that.

Boaz is a "Prepper". He gives no ----- about the Constitution.

#12 | Posted by REDIAL at 2018-04-16 10:01 PM | Reply

I don't see how this is constitutional considering that.
if I paid for "Raw Milk" in Pesos rather than USD, and the local Amish guy/gal was fine with accepting Pesos, would that be against the constitution?

Or, if they decided to exchange a "Raw Milk" token (redeemable for a raw milk at a later date) for a baseball card (store of value, of which we both agree on its worth), would that be against the constitution?

IMO, both seem like normal transactions.

#13 | Posted by GOnoles92 at 2018-04-16 11:40 PM | Reply

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