N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
|
|
June 26, 2014, 04:03:29 PM |
|
Everyone remembers Prof. Bitcorn's idiotic prediction, but do we remember Shillbert's as well? Dec 11, 2013: "We're three to six months away from Wall Street dollars moving into Bitcoin in a big way" It's just so funny when his job as a fund manager is to make everyone believe that Wall Street is coming so that Wall Street does indeed come to hand him over money so he can get his sweet, sweet fees. (Front End Fee: 1.5% (reduced to 0.5% for Q1 2014) Annual Administrative and Safekeeping Fee: 2.0% Back End Fee: 1.5%)
|
|
|
|
Cassius
Legendary
Offline
Activity: 1764
Merit: 1031
|
|
June 26, 2014, 04:04:58 PM |
|
Done properly there's a big advantage. Since you're effectively hire-purchasing a house, you cannot ever be in negative equity. Naturally, most banks don't like the idea of shifting liability onto themselves, hence the interest-driven model prevails elsewhere.
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. "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. 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. Yes: my understanding is that it's not carried out according to the spirit of the law, thus making it not-so-very-different to a traditional mortgage in either its payments or effects when things go wrong.
|
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
June 26, 2014, 04:10:08 PM |
|
Reading about mmitech issue makes me wonder...
How do the Muslims deal with banks? Interest = 0%??
serious question.
Basically what they do, the bank buys an apartment, takes rent plus payment for a part of the apartment. You own a larger part of your apartment as time goes by, and the rent for the unowned part goes down. I suppose you could say that the rent includes interest. So really, you pay rent + interest + principal each month. You then tell god that you pay rent + principal. Oh, he sees it all? Shit.
|
|
|
|
JayJuanGee
Legendary
Online
Activity: 3878
Merit: 11065
Self-Custody is a right. Say no to"Non-custodial"
|
|
June 26, 2014, 04:10:50 PM |
|
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? Just b/c they hold certain status positions in the bitcoin space does NOT mean that they are correct in their prediction(s). We will probably know at the close of business on Friday or possibly by Saturday whether they were correct, or NOT.
|
|
|
|
JayJuanGee
Legendary
Online
Activity: 3878
Merit: 11065
Self-Custody is a right. Say no to"Non-custodial"
|
|
June 26, 2014, 04:11:45 PM |
|
So who are you going to listen to?
No one. Ghost busters!!!!
|
|
|
|
spooderman
Legendary
Offline
Activity: 1652
Merit: 1029
|
|
June 26, 2014, 04:12:30 PM |
|
So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?
|
|
|
|
magicmexican
|
|
June 26, 2014, 04:20:34 PM |
|
So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?
Crushing to single digits first, then a bounce to 100k
|
|
|
|
Raystonn
|
|
June 26, 2014, 04:23:16 PM |
|
So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?
Crushing to single digits first, then a bounce to 100k That would be a hilarious way to remove all margin traders from the next ride up. When we say hold coins off-exchange, we mean it!
|
|
|
|
empowering
Legendary
Offline
Activity: 1078
Merit: 1441
|
|
June 26, 2014, 04:29:27 PM |
|
So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?
I just got a note through the door from next doors monkey: "Tomorrow more markets being markets.. auction happens, rumor mill starts, moody weekend, Monday - winning bidders find out they won, Monday tuesday rumor mill going nuts , buying pressure may resume, some possible "leaks" with some possible "proof" and turns out.... the BTC sold to pretty near the market price (within 10%) followed by some market tomfoolery for a day or two, and a week or so down the line it is all about what X is going to do with their new coins, and some China ban bitcoin news, some shitty pants news about HGash, and then within the month there is gonna be some crazy buying pressure , followed by some selling pressure...the monkey says that there are bananas forming on the charts, buy your tickets now. ps- give me the fucking banana now" I do not trust this monkey anymore than I trust any monkeys, especially the ones with clothes on. edit: I want and hope the auction goes over >10% of the market price, but want and hope do not mean shit though.
|
|
|
|
fonzie
|
|
June 26, 2014, 04:57:47 PM |
|
I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 26, 2014, 05:00:47 PM |
|
|
|
|
|
Raystonn
|
|
June 26, 2014, 05:04:25 PM |
|
I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ Oh come on. You're not giving me a chance to watch you miss the train. I've got to say though, classic talking the market down while you accumulate. I think you just made it in time.
|
|
|
|
atp1916
Legendary
Offline
Activity: 854
Merit: 1000
|
|
June 26, 2014, 05:13:22 PM |
|
I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ Anything under 600 is an autobuy in my book.
|
|
|
|
tarmi
Legendary
Offline
Activity: 1232
Merit: 1011
|
|
June 26, 2014, 05:14:47 PM |
|
I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ Oh come on. You're not giving me a chance to watch you miss the train. I've got to say though, classic talking the market down while you accumulate. I think you just made it in time. he will miss the train, dont you worry. but in the opposite direction.
|
|
|
|
JorgeStolfi
|
|
June 26, 2014, 05:16:05 PM |
|
"We’re the backbone of the entire Bitcoin industry,” says Kodrič, 25, who’s wearing a black t-shirt with “Zero Excuses” in fluorescent green capital letters. “The wallet services, ATM machines, mining companies all rely on us. The price of Bitcoin is the de facto price on Bitstamp. We’re the to-go exchange.” Is this the guy?
|
|
|
|
Raystonn
|
|
June 26, 2014, 05:16:46 PM |
|
I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ Oh come on. You're not giving me a chance to watch you miss the train. I've got to say though, classic talking the market down while you accumulate. I think you just made it in time. he will miss the train, dont you worry. but in the opposite direction. So you're predicting a Bitcoin crash?
|
|
|
|
uhoh
|
|
June 26, 2014, 05:31:57 PM |
|
|
|
|
|
Krabby
Sr. Member
Offline
Activity: 644
Merit: 250
https://primedao.eth.link/#/
|
|
June 26, 2014, 05:33:39 PM |
|
|
|
|
|
ErisDiscordia
Legendary
Offline
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
|
|
June 26, 2014, 05:40:27 PM |
|
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.
Thanks for this. Don't you and monkey want to have your own thread? I enjoy reading your thoughts. It triggers many associations and thought processes and I get interested in new things
|
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1030
Sine secretum non libertas
|
|
June 26, 2014, 05:55:33 PM |
|
Don't you and monkey want to have your own thread?
I couldn't maintain it. I can't even own a pet. Thus the monkey ends up in the catch-all spec thread.
|
|
|
|
|