Wow, such misinformation. 

If the first guy wants to appeal to those who fear Allah and want to be rightly guided then he needs to do a better job with his commentary on the fatwa, learn something about how cryptocurrency actually works, and realize every one of his objections can be applied to the stock market which as far as I know is still halal for Muslims.  

The ones issuing the fatwa at al-Azhar University need to explain where in the Quran there's anything dealing with ambiguity, how the principle was applied in that time, explain how that principle might apply in a modern situation, and then let the people decide for themselves if this is or isn't something they should get involved in. I'm tired of Islam being reduced to just Muslims seeking a fatwah for every move we make. Islam is supposed to be about submitting to Allah, not to a panel of human judges. These doctors of jurisprudence just need to go get a job and leave us Muslims alone. Even with what is expressly haram in the Quran like eating pig meat they just need to teach why it was haram in that day (the pig's digestive system doesn't break down poisons like a cow's and so pass it on into the meat) and let each of us determine if that still applies today (it doesn't, modern farming methods have made pork just as safe as beef). 

If any Islamic scholar really wants to be helpful he should just say, "This is why I don't invest in bitcoin" and not go around issuing rulings (fatwahs) for everyone else to obey. That's the job of the Pharisees, and one of our beloved prophets had issues with what the Pharisees were doing. 

Here's only a small sampling from the videos:

>"you don't have anything to hang on to with bitcoin."  

Except that you do, it's just stashed away on a bunch of servers as a record of "ownership", represented as fractions or whole numbers plus fractions of your share in something that you can turn around and sell the next day for whatever anyone is willing to pay for it.  It's no different than using your VISA card to pay for your lunch. Nothing physical is ever given to the restaurant, just a change of numbers in some computer in God knows where which increases their ability to buy more food and pay the waitress. You can actually get a bitcoin debit card to pay for stuff and the virtual funds (again, nothing physical is handed to the cashier) are drawn from an account that has a Bitcoin balance, but what the merchant gets out of it is fiat money. It's not in the form of paper or coins, it's just more number changes on their bank account. If I buy one bitcoin for $100 and charge my debit card with it and the value of that one coin goes up to $1000 I only need to spend 1/10 of it to pay for a $100 bill at the restaurant and can come back 9 more times to use the balance as long as the value doesn't change. The restaurant will get their $1000 that I paid $100 for because that 1 bitcoin has that much value at the time. 

>"cryptocurrency can't be used as a successful, long-standing store of value."

It can just as much as fiat money. As long as someone thinks your dollar bill is worth something then it's worth something. Same with a bitcoin. 

>"The Quran will tell you what money is." 

Really? No, everyone has an opinion about what money is based on the words in the Quran. 

> "The money in the Quran can last for 300 years." 

Not if nobody thinks it has any value at the end of that period. During the Great Depression you had to take a suitcase full of dollar bills just to buy a corn dog at the corner kiosk because the $10 you used to get for a day's worth of work only bought 1/1000 of a corn dog. 

The best advice the religious scholars can give is to say not to invest in any more than you can afford to lose. But then it doesn't take a scholar to tell us that. We already know that.

By issuing their fatwahs about crypto that all Muslims are supposed to follow they deny Muslims the benefit that long-term investing can bring to Muslim families. Reminds me of the Pharisees who issued a fatwah that the Jews couldn't heal a person on the Sabbath, as if it were more important to God for the healer to take a weekly break from his "job" than for the blind man to receive his sight. Funny thing is, the Pharisees were "working" on the Sabbath in order to determine that Jesus was working on the Sabbath LOL!

Religion! God spare us from it.