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Author Topic: Islamic Bank of Bitcoin{}بنك بتكوين الاسلامي  (Read 102399 times)
lunano
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July 21, 2011, 03:33:54 PM
 #101

I'd really like to invest. I'm hoping that the musharakaat ventures announced are more than just monetary injections.

In the best spirit of venture capitalism there's mutual sharing of business experience, invaluable advice, referrals and introductions. Two minds are better one.
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lunano
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July 21, 2011, 03:50:08 PM
 #102

Another remarkable thing about the announced ventures are the huge equity stakes by IBB.

Just seems to me that if I'm really invested in what I'm doing, I'd think really hard before parting with even 1% of equity. Not to rain on anyone's parade, I'm just wondering aloud.

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July 21, 2011, 06:49:54 PM
 #103

I'd really like to invest.

Then do it.  I bought 7 shares last night on GLBSE.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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July 22, 2011, 04:02:39 PM
 #104

We gave an interest free loan to a customer & hopefully we will be getting 10%interest gratuity. That 10% will be our first revenue/income/profit !

Is the borrower obligated to give that 10%? What happens if they don't? I thought the whole business about being interest-free is that the recipient of the benevolent loan (qardhul 7asanah) provides the gratuity at their absolute discretion and as a token of goodwill. How did you arrive at that 10% figure?

Ben Walsh (beamer)
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July 22, 2011, 04:03:50 PM
 #105

Excellent news. I have been very impressed with the company so far.

I have doubled my investment from 10 to 20 shares. Not a massive amount but a significant vote of confidence from me, given my small BTC holdings :O)

One suggestion I would like to make ...

    Could you maintain a loan book through a Google Docs spreadsheet detailing;

    borrower ID, loan type, loan amount, (for personal loans){ loan period, expected gratuity, actual gratuity, loan reason }, (for business loan){ business type, equity stake }

If you have privacy concerns for the borrowers, then borrower ID can be just a number which is unique to that particular borrower.

If you have commercial sensitivity concerns, perhaps share the document link through a motion on GLBSE rather than publicly here.

I think this would be beneficial to investor confidence and help to stimulate further investment, as the loans are repaid and fantastic performance of the company is demonstrated.

I am sure the details in the spreadsheet could be expanded - what would other investors like to see ?

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
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hsf_context
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July 23, 2011, 08:27:50 AM
 #106

Good News 3  Cool

1. All shares have been sold.

Last Price of IBB share 0.12 up from 0.10

if you bought 40 shares at 0.10 and you sold at last price of 0.12 then you made 0.80 btc profit !

We gave an interest free loan to a customer & hopefully we will be getting 10%interest gratuity. That 10% will be our first revenue/income/profit !







Cool  Smiley

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July 24, 2011, 01:05:36 PM
 #107


Serious respect to the IBB concept! Definitely seems like a most worthy investment!

Sorry if i overlooked it somewhere in this thread: will there be disclosure who is senbonzakura?

In the Russian sector earlier in the Bitcoin history, we had an "investment group" headed by the forum user "Nerd", who solicited Bitcoin investment capital, and then simply absconded with it...

The Shariah Law, or any other law cannot be applied to someone for whom there isn't even any clue where to search, or any idea who he is...  Wink

What are Your thoughts on this as investors?

Peace.  Smiley


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July 24, 2011, 03:02:56 PM
 #108


There is no islamic law being applied to any investor. I gave links for some info on first page. If you got a specific question please ask, here are some links to help you:-

http://www.islamic-banking.com/islamic_banking_principle.aspx

Thanks.  Smiley I wasn't talking about investors; i was talking about the entity collecting the investment money - You.

If the investors don't know who senbonzakura is in-real-life or where to even look for you, how do they know that you will not just collect their money and leave with it the way that Nerd did?  Smiley

Would you or one of your associates be willing to present your project on the Bitcoin Show on OnlyOneTV, the way that several other Bitcoin projects have?

I am ready to risk a few coins in such worthy projects, but i and probably many others would need to know at least a tiny amount of credible information about who is behind a given endeavor. ...and that it's not Nerd again under a different username...  Cheesy Cheesy

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July 25, 2011, 01:24:46 AM
 #109

I only bought 8 shares :-(

My golden oportunity is away, because I have no 1.2 Btc to buy more.
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July 25, 2011, 05:44:47 AM
 #110

IBB is following bitcoin's growth pattern, 12x growth from IPO price!

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July 25, 2011, 04:29:37 PM
 #111

Can I donate some Dishwara and SIN shares? How?
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July 25, 2011, 06:30:06 PM
 #112

Good news for  Huh

Ben Walsh (beamer)
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July 27, 2011, 09:59:18 AM
 #113

How is the website coming along ?

I can see remnants of some site here through Google search - www.geoblip.pl/Default.aspx - but I am assuming that was just a development draft of some sort.

BTC Difficulty Avg Change Google Gadget - http://bit.ly/nWZLkr
How many Bitcoins can I expect to mine ? - http://bitcoindetailedcalculator.appspot.com
BTC Donation Address : 13Wu7W7jmjQot7xnqogHYSmUmR1MzyB3YE
bitcoinTrader
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July 29, 2011, 12:03:34 PM
 #114

IBB shares back up to 1.44
Smiley Smiley

Also, 30 day volume (BTC) is the highest for IBB.

senbonzakura
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July 31, 2011, 03:10:19 PM
 #115

    Report July 2011



    Income / Revenue

    • Dividend 2x SIN shares = 0.01518 BTC 27/7/11


    Loans

    Donations

    • 0.05 BTC
    • 2 x      SIN       shares
    • 1 x DISHWARA shares



    Joint Ventures - Musharakah

    [/list]
    TiagoTiago
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    August 01, 2011, 02:06:01 AM
     #116

    Help me understand this please. A guy said you guys refused to loan him some money because he was gonna use the loan to buy computer parts; is that true? Why exactly would that be a sin? Or did you reject the loan for some reason other than what he was gonna do with the money?

    (I dont always get new reply notifications, pls send a pm when you think it has happened)

    Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

    The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

    Do you like mmmBananas?!
    Rogue Star
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    August 01, 2011, 03:15:19 AM
     #117

    Help me understand this please. A guy said you guys refused to loan him some money because he was gonna use the loan to buy computer parts; is that true? Why exactly would that be a sin? Or did you reject the loan for some reason other than what he was gonna do with the money?
    if it were parts for Yet Another Mining Project, I'd wholeheartedly agree with the decision. i want to see original business ideas receive loans/investment from IBB. also I believe they require something in the way of a business plan.

    you can donate to me for whatever reason at: 18xbnjDDXxgcvRzv5k2vmrKQHWDjYsBDCf
    trentzb
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    August 01, 2011, 03:41:52 AM
     #118

    Yea, as a shareholder in IBB I have been asked on occasion to give a thumbs up or thumbs down on a project. I like to see original ideas/projects but as important is a business plan that makes sense from an investment point of view. I don't think we want to throw BTC at every project that comes along. This is in reference to joint venture investments, loans are a different matter and are very short term and maximum of 5 BTC IIRC.
    TiagoTiago
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    August 01, 2011, 09:12:52 PM
     #119

    Ah, i see, thanx for the clarification Smiley

    (I dont always get new reply notifications, pls send a pm when you think it has happened)

    Wanna gimme some BTC for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX Smiley

    The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!

    Do you like mmmBananas?!
    sirky
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    August 02, 2011, 02:30:40 AM
     #120

    I just looked this thread over, and I have to say that I think this is a great idea. I am not religious in any way, but I do believe in fellowship and helping others out, and those seem to be the ideas behind this enterprise (and probably most of the major religious texts in the world, though it is easy to forget that sometimes).

    Let me know if you need any assistance.
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