We started this project at the Bitcoin 2013 Conference Hackathon in May and have been working on it since. The idea is to get people started with Bitcoin easily through friends. I'm close to 100% repayment rate on the loans I've made, though not everyone pays back in cash!
I don't have a Facebook account, so I can't sign up. I think this is probably true of a lot of Bitcoin users--for a lot of Bitcoin users, Bitcoin is a way to stay off the grid, and being on Facebook would defeat the purpose.<p>My suggestion is to provide a way to sign up without Facebook.
I've always wondered, is interest possible on BTC loans? Technically, it should not be, since there's a limited amount of coins.<p>Are you qualified/classified/stamped/branded/innoculated/whatever to comply with US regulation bullshit?<p>What's your business model here? Keep a % of the loan?
Awesome idea! If you just gotten your first bitcoin, you can immediately put it into good use by purchasing the Humble Bundle now (they accept bitcoins): <a href="https://www.humblebundle.com/" rel="nofollow">https://www.humblebundle.com/</a>
When I shared my link on Facebook, it wouldn't show a thumbnail with the HTTPS URL but I changed it to an HTTP URL and it appeared. The thumbnail/preview is very attractive and I think it'll help get people to click. :)
I had the privilege of meeting these guys while they were developing the initial version of the app. It has come a long way! Excited to watch it take off.