Monday, March 26, 2018

halacha - Bitcoin and Halakha


What are the halakhot that apply to bitcoin? Is it halakhickly money? What even is the halakhic definition of money? Can bitcoin transactions be made over shabbat? That sort of thing.



Answer



http://www.ou.org/torah/tt/5763/korach63/specialfeatures_mitzvot.htm



Jewish law distinguishes three categories of value: goods, which have inherent value; a note, which is a promise of value from a particular individual; and money, which is abstract value.




You might think that Gold and Silver coins have inherent not abstract value, but as the Chazon Ish said, Gold and Silver have no actual material use. People want them only because they are rare, and that means they have abstract value.


Bitcoin, and the balance in your electronic bank account, are the same: They have only abstract value, and are therefor money in halacha.


PS. It would be pretty hard to actually spend bitcoins on Shabbos since they are electronic only.


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