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WCP: "Wall Street, Precious Metals and The Gold-Backed Cryptocurrency"

  • Broadcast in Education
Faheem Shuaibe

Faheem Shuaibe

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Bitcoin is a new asset class

What if [Could it be that] Blockchain is “another kind of Gold”?  Because Blockchain is mathematics. And Mathematics, in essence,[2] is not created by man. “Maths” had to be discovered (Mind) by man like Gold has to be discovered (Mined) but it was always in the earth. Similarly, “Maths” were always in the abstract nature of creation [macro and micro]. Then the uses of the math, as with Gold, were put to the service of human beings according to their nature [to “yield particular service”].

[1] Max Keiser coined this concept. I [FS} would call it Abstract-Concrete Transduction.Allah created crude oil then man synthesizes petrochemical products from it.  Some are more useful and less harmful than others.  The hadith of the Prophet says that “People are like Gold and Silver.” Maybe it is also saying that it is not the actual metals that are the “precious metals” but the “real precious metals” people who are Wise/Gold and Morally Upright/Silver and the real value is what comes out of such peoples “mines/minds”. Also see 47: 31. And We shall try you until We test those among you who strive their utmost and persevere in patience; and We shall try your reported (mettle). For acts of dignity, excellence and valor, society gives MEDALS.

Metal, Mettle and Medal.  When someone is “meddling” in what is not their affair, they are told to “Mind/Mine your own business!”. Mine also declares “ownership”. 

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