“After writing “The Fiat Standard”, I came to the somewhat controversial conclusion that fiat is a tax on being Muslim. If you use a currency that is being devalued, everyone who engages in lending and borrowing benefits from that devaluation, while those who save in fiat effectively pay for it. In other words, it taxes those who avoid interest based transactions and rewards those who participate in them. This has been a massive problem for the Islamic world over the last 100 years, as they have been unable to benefit from the financial system in the same way others have. In fact, they have often sold their resources for this depreciating money. This is the context in which you must judge Bitcoin. The reality is that today, you are either using U.S. dollars or the national currencies of Muslim countries (which are backed / based on the dollar) and by doing so, you are perpetuating and strengthening this exploitative monetary system.”

~ Saifedean Ammous