RUNES·X·BITCOIN
Crypto Overview
Project Overview
RUNES·X·BITCOIN is an experimental Bitcoin-based cryptocurrency project introduced in late 2023 that aims to create digital artifacts on the Bitcoin blockchain through ordinal inscriptions. The project utilizes Bitcoin's infrastructure to create and trade unique digital assets.
Intended Purpose & Current Usage
The project's stated purpose is to enable the creation and trading of digital artifacts on Bitcoin, providing a new form of digital asset ownership and transfer mechanism. Currently, the token is primarily used for trading and speculation within the Bitcoin ecosystem.
Business Model Analysis
The business model involves the creation and transfer of digital assets on the Bitcoin blockchain. The core functionality does not involve any inherently haram activities like interest-based lending or gambling. The project operates with transparency, with all transactions visible on the Bitcoin blockchain.
Development & Adoption
The project is in its early stages of development. While adoption is currently limited, this is not a concern from a Sharia compliance perspective. The project leverages Bitcoin's established infrastructure and security model.
Token Distribution & Governance
The token distribution mechanism follows a fair launch model through Bitcoin ordinals, allowing equal access to participants. There are no pre-mines or founder allocations that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in RUNES·X·BITCOIN from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to RUNES·X·BITCOIN.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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