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Salman Ahmed Shaikh
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Do Islamic Cryptocurrency and Bitcoin Co-move at Different Investment Horizons?
Islamic digital currencies must refrain from a number of actions deemed prohibited by Islamic law, in contrast to traditional cryptocurrencies like Bitcoin. They cannot entail interest-based transactions (Riba), undue speculation or uncertainty (gharar), or gambling (maysir). Their frequent backing by physical assets, such as gold, gives them inherent stability and lessens the speculative bubbles
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“This world is not fair in all respects. A morally upright man is not necessarily the most honourable man in the world. A morally upright trader is not necessarily the richest in the world. Not all murderers have been or will be convicted in this world. Even if all murderers could have been convicted, it will not be ‘naturally’ possible to give equitable punishment to the murderers who have killed more than one human being. Furthermore, it will not be possible to reverse the immoral actions and their already occurred consequences. Religion promises absolute justice and deterministic rewards in the life hereafter. This fulfils the aspiration to have perfect justice to lives spent by pious and impious, poor and rich and just and unjust people. The promise that every action and even intention will be given due justice by the Creator makes the 'static conscience' created by Allah a 'self-regulated functioning conscience.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“As humans, when we look into our inner self, we find that we also have survival instincts like animals. But, we also have conscience to differentiate right from wrong. Our brains have memories, emotions and intellect to go beyond physical reality and find answers. Our aesthetic sense likes beauty, art, culture and nature. We also have the ability to use matter for our convenience in making objects bigger and powerful than us so as to make us transcend our physical limits. Science has facilitated us to use matter in useful ways. However, as stated before, we also have conscience. We have inherent morals and values. Religion speaks to our soul and asks us to purify our inner soul as well as ensure that our physical self is also pure, clean and peaceful while engaging with our outer environment where we meet people and nature.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“Religion allows economic endeavours and scientific endeavours to achieve economic livelihood and convenience. It does not ask one to sit idle and expect to be fed naturally or automatically. It does not ask to avoid medicines and cures to treat illnesses. It does not discourage intellectual and scientific pursuits to discover cause and effect relations in the universe and make use of such knowledge. Even in religious knowledge, religion does not feed religious knowledge in brains automatically, but it asks to seek that knowledge by reading, deciphering, thinking and reflecting. Seeking knowledge is regarded as an obligation rather than fed as an effortless gift in humans. In fact, every endeavour which brings comfort, convenience, social good and welfare is an act of virtue and religion encourages one to cooperate in virtuous endeavours (Al- Maida: 2). Thus, in pursuit of livelihood or finding cure of a disease, religion does not prescribe some religious rituals alone.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“Prof. Richard Dawkins titles his book “The Greatest Show on Earth: The Evidence for Evolution”. But, it could only potentially explain how the show runs and it cannot explain that who directed it, produced it and is administering it if the show is still live.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“We enjoy free sunshine, oxygen, water and life-supporting climate to live. The blessings and hardships are good and bad only till we are alive. All social problems and their solutions become irrelevant when we are no more. Beneath all the chaos and clutter and hopes and fears, we need to reflect on what is the purpose of life?”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“The twentieth century can well and truly be regarded as the century of modern science. Science has made us understand the physical world better and to make the ever-more effective use of matter around us. The comforts of life that a common person takes for granted were not available to even the Kings and the Royals of the past. Nonetheless, along with advancements in science and technology, over 200 million people died in the last century in wars. On average, if 5,500 people die on every day of a century, only then it will reach the figure of 200 million. Is extinction merely a rearrangement of molecules, even if it happens to humans via nuclear weapons? We need better humans, morality, values and a social contract that can make us live better, meaningful and fulfilling lives. The technological advancements do not make right as wrong or wrong as right. In fact, if values are undermined, then the same technology can be used for more destruction rather than for social benefit.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“Using free will, we can use the moral screening provided by conscience to act in good ways. But, if I believe that this life is the only life, then why shall I use my limited time, income and abilities to help others? How can absolute justice be provided in the crime of genocide? Even in other crimes, with perfect monitoring, prosecution and law enforcement, the suffering caused is irreversible.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
“Our outlook on the universe will be different based on the meaning we attach to our relationship with the universe. From Physics perspective, extinction is merely a rearrangement of atoms, even if it happens to millions of humans via nuclear weapons.”
― Reflections on the Origins in the Post COVID-19 World
― Reflections on the Origins in the Post COVID-19 World
