Quote from: DeathAndTaxes on November 15, 2013, 06:26:01 AM

that has no meaning in a debt insturment. debtors are requirement to make payments, if a debtor doesn't then they have already broken the contract.

It is like saying "trust me, because you can trust me".

Unless you have a separate guarantor (i.e you personally are willing to put personal credit and assets on the line) it is a stupid statement to make. If anything it makes the loan more suspect.

I did not say it has any meaning as a debt instrument. I simply pointed out what the word means as I have used it. We're running an exchange, we already have clients, we have little or no competition, and we're requesting a loan through a provider who has done due diligence and established our identity - including verifying our income. Just like any bank or credit institution would grant a loan after verifying income and identity. Regardless of what happens to our exchange, we can pay based on income that has been verified by bitbond.net.

While I understand the relative paranoia that permeates the Bitcoin community, our understanding is that Bitcoin can work very well in certain scenarios as a payment method, and the exchange is simply part of that long-term plan. On our end we see it as a way of growing the Bitcoin economy, and making it useful as more than a commodity. Paranoia guards against loss of Bitcoin, but it certainly doesn't move the community away from being a small elitist 1st world thing. I suppose you are welcome to suspect the loan, but I can assure you that we will still get Bitcoin into East Africa.

kingsley

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