Muslim Bitcoiner & Mike Still on Fiat, Bitcoin , Usury & “Islamic” Banking.

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• The money in your checking & savings account is not riba / interest free

• The money in your checking & savings account is not yours anymore, it belongs to the bank

• Bitcoin as a bearer asset 

• You don’t have to trust a 1/3 party to manage your Bitcoin

• Bitcoin is encrypted information on a decentralised network

• Nobody can print / create more Bitcoin out of thin air the way fiat money $£€ is willed into existence by banks

• Usury / Interest does not scale under a Bitcoin standard

• Bitcoin encourages people to do equity financing instead of debt financing

• Islamic banking failed because it tried to implement Islamic teachings on top of a broken debt based monetary system

• Bitcoin is what Islamic finance / Islamic banking would be on a hard money standard

• Those who have / will try to earn interest “yield” with their Bitcoin have / will get wrecked

• Bitcoin is a paradigm shift

* @MBitcoiner

* @MikeStillBTC

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A place where I write, compile, and share things that interest me from a wide range of topics.