Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27011. (Read 26630542 times)

Interesting tidbit for many here:

"They make the obvious prediction that the Bitcoin will be sold for under-market value"

Are you guys going to be flaming the Bitstamp owners now?

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

Seems to me like the spirit of the law is already pretty heavily subverted just by making a profit from lending money. You can dress it up how you like but it's all the same when you peek under the covers. What there appears to be is a heavy effort to conform to the letter of the law.

All human systems will be gamed.

A quick ride to 800 is not all that unlikely, after the auction.  It is major resistance after all.  I would expect an initial continuation of the down-trend, as those who want the auction to pump the market are disappointed, and give up.  When they are done, and the fiat is warmed up, then the upside will be seen.

Look at the last two swings.  The upswing was quite rapid, and the downswing relatively gradual.  Most people are trained on equities.  They know that bull markets are gradual things, climbing a proverbial wall of worry, while bear markets are panic driven, often rapid, sometimes sudden.  But in pair trades like BTCUSD, either component can be in a bull or bear market, so inverting the chart, we see that the current condition is characteristic of a bullish swing in USD, following a quick bearish swing during the latter part of May.  I would not extend this interpretation to the November spike because the topping phase of a hype cycle is a very different dynamic, with different motivations.  

What I draw from this is that holders of BTC have a need of USD.  Given the volumes we are seeing, it might even be that a single seller is driving the trend.  The 500/8hr guy finally succumbed to his wife's insistence on diversifying into u.s. equity mutual funds like all the "wise" financial advice (propaganda) would insist. (Sorry dude, you are doomed now, unless you can hold those funds until 2040 and USD can last that long.)

I don't think the USD bull market can last much longer.  USDJPY is certainly turning.  Very different dynamics, of course, but post-SCO outlook for USD is changing rapidly on several fronts.  Faith in ECB persists while faith in FRB is flagging.  Trade is being re-denominated (and simultaneously shrinking) so that US fiat exports face lower demand.  RMB floats in 2015.  Iran is exporting a lot of oil to China now.  

I'm simplifying for brevity, telling a story by telegraphy.

What fantasy world you idiot?
Do you see me anywhere screaming how we will go to 1000+ by next month?
We've had 6 months of bad things. All i'm saying 1 month without would be nice.
Say hello to the other idiots ony ignore list. Bye.

No one cares.

If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden.
What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it.
Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky.

Can someone on this subforum answer this one simple question, instead of completely ignoring it:

Q: In a closed door auction, where no one outside of it will know what the selling price was, how can Bitstamp, you, or anyone else know what the winning price was?

And don't just reply "The selling price will get leaked out" or some silly crap, as we know hearsay FUD is completely unreliable.

 

It looks like there is uptake. Good article (but could of course be made up). Even with good progress, bitcoin will still be small when the peso hyperinflates. Only the people able and ready to act quickly can frontrun the demise of the peso.

Also i wonder you mention below or above market price. Is that the price the minute the auction closes?The price it was when the bids had to be in? The price on Stamp or somewhere else? Who decides what the market price actually is?

Could it be that noone really has a clue?

"Properly" meaning according to the spirit of the law. Ijara mortgages tend to be slightly more expensive than regular ones, in any case - unless you are foreclosed, I imagine. I don't know the details, but they're not competitive financially with standard mortgages.

Where do you get the 2 months from?

I understand that the 2 digit changes are just some rounding errors, but what about the 3 digit entry on June 3rd?

Quoted for truth.  Yeah, I'm starting to seriously dislike the "Speculation" subforum because the participants want to completely ignore reality in favor of some made up fantasy.

Can someone on this subforum answer this one simple question, instead of completely ignoring it:

Q: In a closed door auction, where no one outside of it will know what the selling price was, how can Bitstamp, you, or anyone else know what the winning price was?

And don't just reply "The selling price will get leaked out" or some silly crap, as we know hearsay FUD is completely unreliable.

 

You conflate the 'investment opportunity to shady types' aspect with the 'additionals options through technology' one. Ignore, if you will, all of that article except for the localbitcoins aspect.


You will then still (I suspect) argue that it's only a marketing ploy. I doubt that, though. If Argentinians are as cynical about promises as I got the impression they are*, no Pantera marketing push was the cause for this uptake in usage. It's more likely that the investment opportunity arose from the usage increase.


* source: Argentinian friend. Extremely skeptical of Bitcoin, though

I am sure it's not quite as simple as that. At the least the "bank" will charge extra to cover their risk. Then your house could still be worth less than you paid for it when all is done. I bet there's some hefty penalty clause for early termination too.

It does line up with the fact that noone has been buying Bitcoins at SecondMarket for almost two months. See: https://bitcointalksearch.org/topic/gbtc-bitcoin-investment-trust-observer-337486

I am sure it's not quite as simple as that. At the least the "bank" will charge extra to cover their risk. Then your house could still be worth less than you paid for it when all is done. I bet there's some hefty penalty clause for early termination too.

If the home-buying client later decides that he can no longer afford the rental, both the HSBC and Ahli United `ijara contracts require that he or she must guarantee to repay the cash sum initially provided by the bank to fund the purchase of the property. In those cases where the property has to be sold to achieve this, the possibility arises that, if property prices have fallen in the meantime, the sale proceeds may not be sufficient to repay the financed amount. In this case, by requiring the client to make up any shortfall to the bank, the possibility of "negative equity" arises, a position in which the client owes more to the bank than the property is worth.
Clause 6.3 (d) of the United Bank of Kuwait `ijara agreement from 1998 provides an example of the way in which banks seek to protect themselves from capital loss. Here, the bank is allowed to sell the client's property in the event of default and to subtract such amounts as are necessary from both the proceeds of sale and the on-account payments made by the client in order to protect the bank from a loss on its investment.

I'm still seeing a bearish wedge.