Islamic Bank of Bitcoin{}بنك بتكوين الاسلامي

[OgNasty]

in other good news:-

pleased to announce we will be selling 'physical bitcoins' in paper format.

 

[memvola]

IBB cheque ?

Do you mail internationally? Will there be extra mailing fees (e.g. for European customers)? Any discounts for bulk orders?

[Transisto]

I don't know much on IBB accountings but Is it correct to compare the revenue for the month of December to the daily output of a single 5970 graphic card ?

Like people gambling at poker with pennies to learn the game ?

[Transisto]

The expected generation output, from 900 Mhps, at current difficulty 1155038.3339636, is 0.7837 BTC per day or 0.0327 BTC per hour.

Edit : Was replying to senbonzakura's deleted post.

[notme]

How did you earn a gratuity on arbitrage?

[Transisto]

What is the ETA for posting regular updates to your own website ?

This is so annoying.

[alan2here]

Sorry if this stuff is already covered. I feel like a bit of a doche for not having read the whole thread but it's quite long.

How will you insure that I can't take out a 50BTC loan then forget about Islamic Bank of Bitcoin and ever paying it back, even if I'm just 1 in a thousand it's going to constitute a huge and continuous loss. I think however it's going to be more like 99%.

The name is going to put a lot of people off in England. The majority of thease will be irritating "casual" racists who unfortunatly make up a lot of the country and won't like the term "islam" being in the name. I'm sure unfortunatly Islamic countries feel the same in reverse, probbably for equally unhelpfull reasons. I've heard on the news the turms "little" and "big" Satan to describe the UK and the US. I remember people on the Now show on Radio 4 expressing their disappointment that the US won on Satan size, showing that they didn't take the criticism seriously.

However a fair chunk of the remaining people will be like me and be suspcious of religious affiliation in general, reguardless of the religion, our recent sensus show a majority of non-religious people, I remember Jedi winning one of them, the belief in the Star Wars series of films. I think we may have devided it up now so that atheism or not is a different part of the from to religion.

Fortunatly, unlike the first group described above, the latter group will be easily convinced that the name dosn't matter if the product is good.

[alan2here]

see this, https://bitcointalk.org/index.php?topic=38544

I think most of IBB shareholders are non-muslim.

Thanks for the info.

Isn't there Islamic Bank of Britain - IBB?

I presumed you were going to changing worldwide banking, the first of a new breed, that animation on your banner where you roll over the other banks, crushing them beneath your giant logo, metaphorically.

I see now however by you'r method of determining trustworthiness that for now at least the bank will remain small, more of a resource just for those at the core of Bitcoin. A good idea but with different goals than I had thought.

[notme]

update:-

the java arbitrage software wont be completed by the developer and will not be sold.

Any plans to find a new developer?  I could spend a little time on it pro-bono if it is somewhat close to ready.

[sadpandatech]

Is there a divi due out soon? And will the 15btc loan earnings, if any, go to the next month?

cheers

[wachtwoord]

I'm not sure if this is answered but: if you give out interest free loans, how do you make money (or in fact avoid losing money)? I am very curious

[wachtwoord]

So the business case behind your loans is hoping people will tip you afterwards? (45% of your revenue)

Okay weird business model. I'll be sure to contact you for a free mortgage when IBB is big enough to lend a couple of hundred grand

[dree12]

Senbonzakura, could you state the amount of BTC the bank holds right now, without including ones in assets like loans or stocks?

[LoupGaroux]

Wanted to say thanks for the fun little contest that IBB sponsored, and to let you know that IBB is now on my accumulation list on GLBSE.

[teflone]

1. 7 / 8 loans repaid

2. 26 MergedMining shares purchased

7 of 8!

What... ? 

Whos mommy do I have to call this time ?

[LoupGaroux]

No question, just a thank you for very straightforward and clear reporting. Nice to see an asset on the GLBSE being run professionally and consistently.

[senbonzakura]

Report December 2011 - January 2012

Income / Revenue

• shares/dividends 6.8561400 BTC
• Arbitrage = 2.3097357 BTC  

• Gratuity = 6.65700000 BTC  

Loans

• -------------------------------Repaid----------------------------------------------------------------------------------------
• 7 BTC loan to JackRabiit payback - 24/12/11 https://bitcointalk.org/index.php?topic=54555.0 {paid back + 0.02}
• 2 BTC loan to reg payback 17/12/11 - https://bitcointalk.org/index.php?topic=54048 {paid back}
• 2 BTC loan to reg payback 25/12/11 - https://bitcointalk.org/index.php?topic=54048 {paid back}
• 5 BTC loan to zer0 payback - 22/12/11 https://bitcointalk.org/index.php?topic=54875.0 {paid back + 3.00}
• 15 BTC loan to gigasvps payback 30/1/12 - https://bitcointalk.org/index.php?topic=56161.0 {paid back}
• 2 BTC loan to reg payback 12/1/2012 - https://bitcointalk.org/index.php?topic=54048.40 {paid back}
• 7 BTC loan to JackRabiit payback - 18/1/11 https://bitcointalk.org/index.php?topic=56805.0 {paid back + 0.18}
• 1.06 BTC loan to rexcoin payback - 12/1/12 https://bitcointalk.org/index.php?topic=54048.0 {paid back + 0.007}  
• 9.80 BTC loan to amazingrando payback - 19/1/12 https://bitcointalk.org/index.php?topic=57191 {paid back + 0.25}
• 5 BTC loan to JackRabiit payback - 21/1/12 https://bitcointalk.org/index.php?topic=58596 {paid back + 0.20}
• 5 BTC loan to zer0 payback - 20/1/2012 https://bitcointalk.org/index.php?topic=60205.0 {paid back + 3.00}
• --------------------------------Default---------------------------------------------------------------------------------------
• none

Update:-
14 MergedMining shares donated. 43 purchased {total added 57 shares of MM }

Donation:-
1.31415926

Expenses:-
5.7954 - 43 MergedMining shares

total =11.34163496 net (17.13703496 gross) profit/revenue->$65.80 @ current market rate
{6.5057277 BTC dividends paid on 30/8/11} (6.5057277/1000=0.0065057277 per share)
{2.0077597 BTC dividends paid on 30/9/11} (2.0077597/1000=0.0020077597 per share)
{2.0065126 BTC dividends paid on 01/11/11} (2.0065126/1000=0.0020065126 per share)
{1.2988600 BTC dividends paid on 30/11/11} (1.29886/1000=0.0012886 per share)

Dividends will be paid on 25th January -10.30000000 BTC will be paid (10.30000000/1000=0.01030000 per share)[/list]

[bitcoinTrader]

Now

[notme]

hehe

if 1 more person replies, I will pay now 

Now.... I am the decider!

[senbonzakura]

{Dividends} Statement Release 26/01/12

IBB shares 0.43 BTC 26/01/12.
10.30 BTC in total will be paid out in dividends to 1000 shareholders, each share will receive 0.0103 BTC.
CEO
IBB - Islamic Bank of Bitcoin
www.ib-bitcoin.com