Just a little bit about Bitcoin

The spectacular rise and fall and rise and fall of Bitcoin seems to have captured the imagination of not just monetary aficionados and finance nerds, but also the man on the street. With Bitcoin ATMs now popping up all over Asia, the online currency has generated spirited debate about what is the nature of money in the 21st century. Is Bitcoin really the money of the future?

I confess that I am not fully aware of how Bitcoin operates, nor how the virtual currency has become such a phenomenon. Online purchases have spiked in the last few years using this peer-to-peer system of money creation which you can store on your hard drive. New Bitcoins are created (mined) by substituting your old hard currency for the electronic medium. The value of Bitcoin follows the demand and supply of the market, leading to rapid fluctuations of a few Bitcoins being able to buy a pizza to suddenly outpricing gold bullion.

On one level, the introduction of Bitcoin hardly seem a paradigmatic event. Contrary to what most people believe, over 95% of all money already in circulation, be it Dollars or Pounds, is not in the form of cash or coins, but as electronic currency in the digital realm, just like Bitcoin. Private banks enjoy tremendous leverage in money creation every time they issue bank credit through a new loan or mortgage.

What makes Bitcoin unique is that, by not being issued by a central bank nor authorized by any state government, it is thus far independent of most government control and outside of the mainstream banking system. This makes it an attraction to freedom-loving libertarian types who are fed up with the state's monopoly over the money supply and are uncertain of their economic future following the bank crash of 2008.

What about Money?

Money is such a basic tool of everyday life that we can take its novelty for granted. Analysts will drone on and on about GDP, the housing market, government spending and growth rates that the most fundamental piece of financial architecture will often get overlooked. What is money and how is it supposed to work?

Conventional descriptions of money will list a few key characteristics. Money should function as a medium of exchange between parties for the purchase of goods or services. Money must be a unit of measurement to judge value of objects. Money should be a store of value to make it reliable for saving. Finally, money can be a unit of account, to measure profits and debits, and divisible into smaller units.

Until the rise of the modern nation states, money was almost exclusively minted coins of gold or silver, or other common commodities of shelf life (among the notable exceptions being the Tang Dynasty of 7th century China). The precious metals always held an allure, being it religious or royal, and their scarcity underlined their sense of intrinsic value. With the nation states of Western Europe in the 18th century came the role of central banks in the printing of paper promissory notes (in exchange for gold) that would become what we now know as fiat money (paper bills) issued by government authority. The gold standard, the tangible link of paper money in exchange for gold, lasted until 1971 when US President Richard Nixon announced that the US dollar would no longer be convertible. As of today, though paper money is used for many transactions, it is largely a sideshow act to digital money which predominates. (This is merely an ultra-condensed view of monetary history, there are plenty of places to research the historical details for yourself).

Money as a Symbol

Most monetary theorists see the above transition from commodity-based money to paper to digital as a natural progression. Gold or silver was suited to simpler and largely agrarian nature of the pre-modern world. As the nations states developed, particularly during the Industrial Revolution, the need for credit became more pronounced, thus calling for governments to be able to print currency on demand as per the market requirements. In our age of transglobal capitalism, restricting ourselves to mere paper, even if its not tied to any physical commodity, can be a hassle; electronic money allows for much more accessibility and flexibility. Thus Bitcoin is only the latest species in this evolutionary lineup, and not likely the last.

Another view is that this progression is rather a devolution from a natural order to an entirely artificial one. Gold and other forms of commodity-based money had their links to Nature, and thus imposed natural limits to growth of economies based on the supply of the commodity, ensuring an inbuilt sustainability to the system. The introduction of paper money altered this balance and created a disconnect between industrial production, spurred on by cheap money, and the natural world. Digital money has taken this a step further; capital itself now reigns supreme and is disconnected from the actual rate of production, while the natural world is left far behind. The limit now is not how much the environment can actually supply, but how many numbers can fit on the ledger. Fiat money then is man's attempt to break himself from the shackles imposed by the Created Order, to elevate himself beyond sustainable boundaries, all leading to a massive Promethean crash back to Earth. At some point then, the fakeness of the monopoly paper we use and digits on the screen will be laid bare.

Bitcoin and the Future

Bitcoin can perhaps be seen as a warning shot to the world of global finance for what is yet to come. In other words, the rise of the cashless economy and complete digitalization. Already there is a heavy media push to portray paper cash as an encumbrance, even for the smallest of purchases. While the banking sectors in Russia and Asia (with the exception of Singapore) have reacted with skepticism to Bitcoin; countries such as the US, Britain and Israel, home for many of the traditional banking elites, appear more receptive.

Rather than join the bandwagon of digital currency users, perhaps it may be preferable to keep our figurative feet on the ground and stick to using cash for most transactions until we can come up with an option with more substance. I personally prefer to use cash rather than plastic, at least cash is something physically tangible you can count and hold (and why should I give any extra profit to Visa or Mastercard?) For further reading, there's a terrific blog in the Guardian on why we should resist this cashless trend.

Let us also not assume that the debate over money is simply about utility and efficiency. There is a spiritual dimension to money as well that does not get enough attention, but that is something I will delve into in future writing.

Fear The Beard! (Or Don't)

'Pogonophobia' is a funny word. No, it's not some random fear of pogo sticks. Rather, its one of the most common phobias that has beset our modern yuppie generation (Generation X, Y or Z, I can't keep track). Pogonophobia relates to the fear of beards. The longer the beard usually corresponds to the higher the degree of anxiety it instills in the onlooker. While not all of us suffer the common symptoms (shortness of breath, irregular heartbeat, excessive sweating, nausea), many still do experience varying degrees of discomfort when confronted with a patch of facial follicles.

Yet for those afflicted with said illness, there is hope. Latest news is that beards in the West are all in vogue again, courtesy of a hipster resurgence. As per the theory of trickle down culture, it may take somewhere between six-months to a year (or sooner) before beard fashion crosses the Atlantic and makes its way to the Muslim urban world once again. What a curious way back to the Sunnah that will be. At the very least, it may provide a bit of a mental relief for those touchy-feely Muslims who still squirm when they see their bearded brethren.  Perhaps it is time to make a diagnosis of why so many ostensible Muslims treat such facial hair with such unease.

There was time when sporting a beard was simply the status quo, and the hairless chin would be the outlier. But modernity has reversed this reality. The period of conquest and colonization during the 18^th century by the British and co. coincided with a curious phenomenon, the rise of the clean-shaven gentlemen. No longer was the beard the symbol of wisdom, vigor and manhood, but rather of a caveman-like backwardness. The fresh-face was the look of the Enlightenment, of youth and clarity, with a readiness to lead mankind out of the savage darkness and into the light. Generations of the colonized masses, beginning with their leaders, slowly internalized and externalized this message. This was especially odd given that throughout Muslim history, so self-assured generally was the Muslim community in their identity that copying the appearance of an outsider was an anathema.  Yet now the beard, trimmed or untouched, would no longer be a norm. 

What are you looking at?

Since 9/11, the anxiety has only been heightened to a ridiculous degree. Media portrayals of the Taliban have cemented a stereotype of the poor, uncultured, regressive and aggressive long-bearded Muslim out of step with modern world. In countries with a widening secular-religious divide (Pakistan being a prime example), one is expected to join one of two rival camps, hardcore secularists who conflate any Islamic symbol or beard with encroaching Talibanisation, or an increasingly shrill and reactionary religious establishment. Any middle space there was over a decade ago is fast shrinking. Can’t I just grow a beard and have nothing to do with any of that? Apparently not.

My advice to all those yet unconvinced by my beard rant, please chill out and let your biases take a backseat. Yes, there are plenty of self-righteous bearded folk who like to use their beards as an outward stamp of their own religiosity. But there are plenty more for whom this is not the case, for whom growing a beard is merely a personal attempt to reconnect with their spiritual tradition and to emulate the best of creation, while for some it has nothing to do with religion whatsoever. And of course let us not to forget a minority who grow it due to sheer laziness in having to pick up a razor. So would it be so hard to check your knee-jerk reactions at the door and give the fellow some breathing room before you character assassinate him?

Granted, a beard in itself is no guarantee at all of a sound character or good spiritual health. Nobody should expect or give excessive veneration to beard-growers, which can be a problem as well. But the stigmatization has frankly become tiresome, especially from so-called educated and moderate Muslims who like to bleat on and on about ‘respect’ and ‘tolerance’. I shouldn’t have to remind you that your Prophet (pbuh) had a rather long beard, and yes, 1400+ years on, it is still relevant.

Sitting your life away...

With roughly a third to a fourth of our life spent in slumber, our opportunity to experience all the possibilities of waking life is limited from the outset. Why then, in this modern world of hustle and bustle, when time is money and the pace is frenetic, do we modern folk spend most of our time with our rump rooted to a single spot? Whether it's at home at the dining table, in front of our computer at work, at the movie theater or wherever else, we spend an inordinate amount of time in the standard sitting position of back straight/slumped, thighs forward, and legs draping a cushioned seat in a chair.

Whereas our ancestors had no problems using their legs for their God-given purpose, for us walking amounts to just a few brief spurts of exertion in anticipation of finding rest for wearied limbs.  Whereas for our ancestors walking was their lifestyle, for us it is a tiresome task. Why bother getting up from one's seat, strolling across the hall and interacting face-to-face with the coworker, when you can simply dial their number and get the message across? Of course, we like to give ourselves some false mental comfort that traveling around in a vehicle all day is tantamount to physical activity, while ignoring the fact that even if you are going at 100 mph, you are still sitting. Only in the modern world can we have the illusion of perpetual motion while at rest.

Experienced walkers can tell us of the subtle gifts of walking that possibly outweigh its numerous health benefits.To walk is to witness the overlooked pathways of our urban existence; the nooks and crannies most urbanites may never know of; the faces, sights and sounds that we normally experience as a blur. To walk is to feel the pace of life as it was naturally intended. Whereas for some walkers to walk is to set one's mental gears in motion, for others to walk is complete meditation and therapy.

The philosopher Henry David Thoreau, in his famous essay 'Walking', describes the leisurely stroll through the wilderness as one of life's true pleasures. Each daily walk into the woods was a voyage into uncharted seas. He bemoaned the workers (in their cubicles) who restricted themselves to an existence indoors. "When sometimes I am reminded that the mechanics and shopkeepers stay in their shops not only all the forenoon, but all the afternoon too, sitting with crossed legs, so many of them—as if the legs were made to sit upon, and not to stand or walk upon—I think that they deserve some credit for not having all committed suicide long ago."

Far from treating walking as a captivating activity, there is ample evidence that the urbanised Muslim world today couldn't care less for pedestrians. In some Muslim countries, to walk in the city is comparable to a traffic offense, as pedestrians are considered an unwelcome intrusion on the road even as sidewalks are largely absent. Other countries may view pedestrianism through the lens of social status, as if walkers are a underclass of untouchables not deserving of a second look. Perhaps a common view is to see walking as a half-hour pastime exclusive to the elderly who need to make up for years of seat warming. Whatever the reason, the default position for a vast number of Muslims has become the sitting one, much to our detriment.

Yet even when we have to sit, our etiquette towards sitting has largely disappeared. In ancient times, the four-legged chair we are familiar with today was considered a mark of state royalty and hierarchical status. Few if any of those sitting on the chair would sully their hands in manual labor, but would rather sit indolently giving orders for their peons to carry out. It was only with the beginning of the modern era in the 16th century that chairs proliferated as the common way of sitting, and eventually this seeped into the Muslim world as well. What was once a symbol of inertia became the norm.

The traditional sitting method of humility, cross-legged folding of the legs on the floor, has simply gone out of fashion, outside of masjids where chairs have not yet become standard. How common it is to see a middle-aged Muslim who is simply physically incapable of sitting cross-legged due to a lifetime of sedentary chair-sitting which has taken all the nimbleness out of his or her legs? Of course, this problem is not Muslim-specific; few Japanese perform the seiza anymore, for example.

Let us put aside the mounting evidence of health problems associated with too much chair sitting, such as organ damage, back issues, leg issues, etc. Let us ignore the increased mortality risk of sitting all day. The fact is that generations of chair sitting has somehow convinced us that the zig zag style of sitting is natural. But try looking at someone sitting and imagine that the chair is invisible, and you end up with the image of a elderly crone with an arched back. Quite ugly actually.
                    

Of course, part of our work and lifestyle may necessitate sitting for long periods of time. But in the end, only we are answerable for not taking the time for a stretch and putting the blood back into your legs. Sitting has become a position of comfort, and walking the chore. It is time for us to reverse the equation.   

Recommended Reading:
'Walking' - Essay by philosopher Henry David Thoreau, 1862

'The Lost Art of Walking: The History, Science, Philosophy, and Literature of Pedestrianism' - Geoff Nicholson, 2008

'The health hazards of sitting' - The Washington Post, 2014

Children in a World of Screens

As photography was introduced across the world in the 19th and early 20th centuries, many traditional cultures, particularly Native American tribes and indigenous tribes in Central and South America, viewed the camera box with suspicion. A common belief was that the act of taking a photograph was a blasphemy, stealing the soul of the individual in front of the lens. Eventually, many tribes relented and adopted photography as a way of keeping alive their ancestral heritage, but even then many would still refuse to have the photos of infants taken, as they were unprepared for this soul-sucking process.

Today, we may chuckle at the naivety of these pre-moderns and their clumsy approach to technology, but in a sense, they did have a point. The world now is saturated with imagery, and much of our daily routine involves staring at some screen or the other. The screen itself is the preeminent image of the modern man. Screens have become our gateways to reality and our portals to past, present and future. Whereas for decades, the television played the role of the wise sage who extolled earthly wisdom in family gatherings, now computer and smart phones are our techno-friends whom we share more time with than their human counterparts. Surely there is a cost to this? 

Those of us who grew up in the 90s, 80s or earlier may remember a time when life was about simple pleasures that involved a good deal of physical play and face-to-face interaction, normally outdoors. Occasionally, we would enjoy the odd card game or board game at home with friends and family on a rainy day. During childhood, indoors and outdoors were two entirely separate domains each with its own pleasures and protocols.

The childhood today for those with handheld devices is in a sense always indoors, inside their pocket dimension where time has no meaning and the definitions of reality and fantasy are in a continual blur. It doesn't matter if they are in school or in a masjid or in their bedroom, their are always at home. Parents may brush this off as knee-jerk alarmist rhetoric, but how can they be so confident of the long-term impact of these devices on their children's health if the smartphone (which is leaps and bounds more complex than the handheld games of the past) has only been around for less than a decade?

Let us set aside the possible medical risks associated with early exposure to similar technology, such as psychological problems, addiction, and radiation exposure. As Muslims, we should be concerned with the spiritual health of the next generation we are raising. A cornerstone of the Deen is salah (prayer), to stand in front of our Lord in the entirety of our being at least five times a day. To do so requires a complete sense of presence, a combination of mental focus with spiritual clarity and humility. A major stumbling block in achieving such a state in salah is our inability to resist the gravitational pull of the Dunya as it weighs upon our soul. Having the mind preoccupied by a fantasy digital world that acts as escapism from the Dunya adds only an extra layer to this problem.

I am not suggesting for Muslim parents to be become Luddites with a rejectionist attitude towards technology. All I am suggesting is for us to look beyond halal/haram labels and assess the spiritual value of such items before granting access to them by the impressionable young.

What this blog is about...

Bismillah ir-Rahman ir-Rahim

Asalam-u-Alaikum! What I am attempting is with this blog is give a Muslim perspective, off the beaten path. I consider myself a struggling Muslim, struggling not with my belief in Allah (sbt) or His Deen, but with being faithful to His Deen in an increasingly shifting modern context.

As stated by our Prophet Muhammad (peace be upon him), Islam began as something strange (ghareeb) and will return to this state. The onset of modernity has seen similar to this effect, with the spirit and practice of Islam often seeming at odds with the pillars of modernity. Of course, many other Muslims may suggest complete harmony between the ways of 'progress' and Islam. Regardless, among the Umma there is a tremendous sense of what sociologists refer to as 'anomie' - a disconnect caused by the loss of traditional values in the wider society.

The goal of this blog is perhaps to shed some light on the bigger picture of the world we live in and on some of the fundamental design flaws of modernity that we as Muslims should question, as well as some of the day to day issues we Muslim Moderns face. Perhaps the sense of otherworldliness Muslims may feel at times may not be such a bad thing. Perhaps we should embrace the strange if it means keeping true to our faith. This entails not a wholesale rejection of anything and everything modern, nor an uncritical acceptance. Rather, we need to use our Islamic traditions as our primary guide.

As someone who would struggle to qualify for even being a student of the Deen, I don't lay any claim to scholarly verdicts. This are merely my observations and may Allah forgive me for my faults. Ameen!