The Fiqh of Eid al-Adha:
1/10. The Eid Prayer is wajib. It consists of two rakats, with extra takbirs. The wisdom behind the Eid prayers, like the Eid days themselves, is to thank Allah for His countless blessings.
One pauses briefly after each takbir.
One places ones hands together, right on left under the navel, after the third and final takbir.
After this, one recites the ta`wwudh (seeking refuge in Allah from Satan),...
4/10. In the second rakat of the Eid prayer, one also gives 3 additional takbirs. These are given after one finishes reciting the...
However, if one’s imam performs them differently, one follows one’s imam: the sunnah practice has been reported in different ways, and the difference between the Sunni schools...
6/10. It is disliked to perform any prayers before the Eid prayer, whether at home or at the place where the Eid prayer is being performed.
9/10. If one joins the imam while he is in ruku`, one should perform the additional takbirs while standing if one will be able to catch...
Otherwise, if one fears not catching the imam in ruku`, one should give one’s opening takbir and go into ruku`. Then, one should recite the additional takbirs in ruku` before the tasbihs of ruku`. One does not raise one’s hands in ruku`, however.
Source: https://t.co/3nOjAzSO50
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
