BAGAIMANA HUKUM INVESTASI DIGITAL COIN USTADZ?ᴴᴰ | Ustadz Abdul Somad, Lc., MA

Summary

The speaker discusses the evolution of currency, starting from the barter system, moving through the use of dinars (gold coins), to paper money issued by governments, and finally to the rise of digital currencies. While cryptocurrencies can serve as a medium of exchange, the speaker emphasizes their volatility, making them unreliable for investment. The stability of gold is highlighted as a more secure asset, and the speaker calls for unity among the Muslim community to adopt stable currencies like the gold dinar. The video aims to provide insights on the risks and benefits of using digital money in today's world.

Takeaways

• 😀 The evolution of currency started with bartering, where people exchanged goods directly, like rice for fish.
• 😀 The next phase in currency evolution was the introduction of Dinar in Greece, which was made of metal and became widely accepted as a form of payment.
• 😀 Dinar spread from Greece to other regions, including Madinah, where it was used for various transactions like purchasing land and goods.
• 😀 Paper money was introduced as a way to avoid carrying metals like gold and to regulate the money supply according to the amount of gold a country held.
• 😀 The United States introduced paper money without having enough gold reserves to back it, leading to global dominance of the dollar despite this violation.
• 😀 The current phase of currency evolution is digital money (cryptocurrency), which exists only in electronic form and has become popular for transactions.
• 😀 Digital money is used in the same way as paper money but is stored on electronic devices, such as phones or computers.
• 😀 Digital currency can be accepted as a medium of exchange, but it's not advisable to treat it as an investment due to its unstable value.
• 😀 Paper money is also unstable due to inflation, whereas commodities like gold maintain more consistent value over time.
• 😀 While the idea of using gold as a universal currency is feasible, uniting the Muslim world on a single monetary system is challenging due to cultural and practical differences.
• 😀 Although cryptocurrencies can be used for transactions, they are not considered a safe investment option due to their volatility.

Q & A

What was the original form of trade before money was introduced?

Before money was introduced, trade was conducted through a barter system, where goods such as rice and fish were exchanged directly for other goods.

How did the concept of money evolve from barter systems?

The barter system evolved into the use of minted coins, specifically gold coins called dinars, which were used as a standardized form of trade. This eventually led to the introduction of paper money and, more recently, digital currencies.

What is the significance of the gold dinar in the evolution of money?

The gold dinar represented a standardized currency used for trade, providing stability in value. It was used to buy goods like land, camels, and wheat, and its value was based on the weight of gold, making it a reliable medium of exchange.

What are the challenges with using paper money according to the speaker?

The speaker points out that paper money can lose value due to inflation, especially when countries print more money than they have in gold reserves. For example, the U.S. printed more paper money than its gold reserves, leading to potential instability in its value.

How is digital money different from traditional paper money?

Digital money, unlike paper money, does not have a physical form. It exists in digital space and is stored on devices like phones and computers. It is also more volatile, with values that fluctuate quickly due to market conditions.

What did the experts at Darussalam Gontor University conclude about digital currency?

The experts concluded that digital money can be used as a medium of exchange, but it is not ideal as an investment due to its instability in value.

Why is gold considered more stable than paper money or digital currency?

Gold is seen as more stable because its value does not fluctuate as rapidly as paper money or digital currencies. Historically, the value of gold has remained consistent, unlike paper money, which can lose value due to inflation.

What was the primary reason the speaker advises against using cryptocurrency as an investment?

The speaker advises against using cryptocurrency as an investment because its value is highly unstable, and many investors have lost money due to the fluctuating nature of digital currencies.

Can cryptocurrencies be used for transactions, and under what circumstances?

Yes, cryptocurrencies can be used for transactions as a medium of exchange, provided both parties agree to use it. However, it is not recommended for investment purposes due to its volatility.

What does the speaker suggest as an alternative to digital money for investment?

The speaker suggests that gold, particularly in the form of the gold dinar, could be a more stable investment option for Muslims, as it has maintained its value over time.