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MenuWhat's a "meta coin" in the Bitcoin world?
Im not talking about alt coins, I've heard the term in reference to building on top of the Bitcoin BlockChain using meta coins.
I'm assuming it's a way to leverage the existing infrastructure of miners / liquidity / etc, but deliver a different solution ... almost line Ethereum.com
Answers
Meta coins are just another name for altcoins that are issued on the ledger of another coin or cryptocurrency platform.
IE Ripple, Mastercoin, Ethereum, NXT are example of standalone blockchains/legers where you can issue new coins that transact on top of that network.
metacoins can also be referred to as Digital Assets, Smart Contracts, DACs, DAOs, etc. There's a lot of buzz words around altcoins, the terms are fragmented since the industry is just starting.
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Is investing in Bitcoin and similar wallets Islamically Halal (allowed) or prohibited? Same question on stocks too. Thank you!
Sara
I'm Joe Bradford, a scholar of Islamic finance and an advisor. Bitcoin and other cryptocurrencies are permissible to purchase as long as they meet a few basic stipulations: the use case that they were created for is permissible, they act as a store of value, and they are a medium of exchange. While most cryptocurrencies will fulfill the last two stipulations there are some like meme coins etc that don't have actual use cases and no real utility other than being used for manipulation and pump and dumps. Those coins should be avoided outright. for more information on the topic you can check out my website where I have several articles and videos about the topic or schedule a call with me to discuss any intricacies about a coin you are looking to purchase.JB
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