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senbonzakura
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March 04, 2012, 10:42:52 PM
 #61

Alright, 1NXF1vmEediigwvV2WTyUsKxnKEo1oaLE3  Thanks

1 BTC sent , transaction id = cfd0b40302567b9a21ad4d22ad472cff87d4e6ee81482be8f5bb7c261787dff8

payback 11/3/12 (repayment address given on 11th march)

1481402541
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Jakel-s
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March 04, 2012, 11:25:37 PM
 #62

Received, thanks.
senbonzakura
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March 04, 2012, 11:38:39 PM
 #63

Received, thanks.

good luck Smiley
senbonzakura
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March 10, 2012, 04:34:48 PM
 #64

jakel-s loan repaid  Smiley

thank you
senbonzakura
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March 12, 2012, 10:13:50 AM
 #65

crosby loan repaid Smiley

thank you
twoglovedanny
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March 15, 2012, 12:55:44 PM
 #66

this is such a great idea!

54Gh/s bASIC Bitcoin Mining Devices
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arabianights
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March 15, 2012, 01:24:04 PM
 #67

Could I have an interest free dollar, or other currency, loan in bitcoins that I will pay you back in bitcoins

So in other words, if a bitcoin is 5 dollars today, and 0.5 dollars when I pay you back, I would pay you 10 bitcoins. But if a bitcoin was 50 dollars when I pay you back, I would pay you 0.1 bitcoins?

Also, how are you an islamic bank?
senbonzakura
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March 15, 2012, 02:52:04 PM
 #68

this is such a great idea!

thank you !  Cheesy
senbonzakura
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March 15, 2012, 02:57:06 PM
 #69

Could I have an interest free dollar, or other currency, loan in bitcoins that I will pay you back in bitcoins

So in other words, if a bitcoin is 5 dollars today, and 0.5 dollars when I pay you back, I would pay you 10 bitcoins. But if a bitcoin was 50 dollars when I pay you back, I would pay you 0.1 bitcoins?

Also, how are you an islamic bank?

1. If you take 1 BTC , then you repay 1 BTC (regardless of dollar value)

2. rules are 40 posts + 3 weeks registered

3. IBB is shariah compliant Bitcoin Bank, we offer loans and funding in new companies listed on GLBSE.com
arabianights
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March 15, 2012, 03:12:22 PM
 #70

My thinking was that you could use trades like that to hedge bitcoins and make investments outside of the bitcoin universe - as a loan in dollars but denominated in bitcoins is effectively making you short coins versus the currency* - and then you can make the investment in a currency.

Of course to be a real bank you need to start taking a cut somewhere as you are a spread business.

*And of course I would be long, which is why I wanted it
senbonzakura
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March 15, 2012, 03:42:15 PM
 #71

hmm, i understand, but if you go long and end up paying back 0.10 instead of 1 BTC , then I would have to get more BTC to accommodate more loan requests.

Much easier and better for me to deal only in BTC. BTC price wont change much in a week (for IBB newbie loan)
arabianights
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March 15, 2012, 03:50:23 PM
 #72

Absolutely - but if it goes down in value then you get more bitcoins back Smiley

Basically it would make sense to introduce products like that if for example you can secure some funding or deposits in dollars (or whatever).

If you are serious about being a bank then you will end up with an interesting book indeed, with all sorts of things offsetting one another.

Do you think there is a product you can design to interest people like me who would be interested in going long bitcoins, that would be more exciting than just buying them? I'm sure there is Smiley

Particularly if I can buy it using bitcoins.
senbonzakura
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March 15, 2012, 04:01:11 PM
 #73

well you could use bitcoinica.com, but for the moment we dont have what you are looking for.
arabianights
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March 15, 2012, 04:10:43 PM
 #74

Sure, but think like you're a bank and I'm your client, and come to you requesting that you design such a product...
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