This week we have an awesome interview with bitcoin trader and long-time Bitbond user Matt from the US. Read our discussion below to find out what his loan will be used for, how he first came in contact with bitcoin and what his favourite Bitbond feature is. Matt has already successfully repaid 3 loans and you invest in his current dollar denominated loan for another 6 days.
Bitbond: Thank you very much for taking the time to talk to us. Could you start off by telling us what your relationship to bitcoin is and how you first heard of it?
Matt: I first heard of bitcoin in May 2013 with the Silk Road controversies. I thought about putting some money into buying some bitcoin when the price was about $50 but I frankly did not know where to start.
So I began researching methods to purchase/send/store bitcoin. Now I enjoy helping others enter the bitcoin system by trading on Localbitcoins.
Bitbond: Cool. What do you think the future holds for bitcoin? Is it the modern-day equivalent of the internet or will it fall flat on its face?
Matt: Bitcoin is a massive experiment at this stage, I still personally believe that it would be foolish to commit all of an individual’s life savings into bitcoin however; the same can be said for any modern investment choice.
Going forward the bitcoin community will need to grapple with the choice between overt regulation or what appears to be rampant lawlessness.
Bitbond: What do you hope to achieve with your loan, and why did you choose Bitbond?
Matt: I hope to be able to take the full amount of the loan and to inject it into my already functioning Localbitcoins trading business. Right now there is a lag between selling bitcoin for any payment method and then moving the funds back into bitcoin to complete the circuit.
I chose Bitbond because I enjoy the flexibility of moderate interest and the ability to set currency for loans.
Bitbond: What are the benefits of a bitcoin loan compared to a conventional equivalent like a bank loan?
Matt: I would say bitcoin decentralizes an already groundbreaking industry: peer to peer lending by spreading out available investors. Obviously with a bank loan there are none of these feature but with platforms such as Prosper and LendingClub an attempt is made.
I believe Bitbond helps both investors and borrowers by not discriminating investment choices like many P2P platforms do.
Bitbond: What is your favourite feature on Bitbond? What features do you think are missing?
Matt: I love that bitbond is keeping a detailed history of my previous loans and payments. This helps me to make the value judgment in determining if future loans are viable or not. There is little that I can think of from a borrower’s standpoint to improve upon the experience alre
Bitbond: What would you want potential investors to know about your loan?
Matt: I would love for them to be able to see my trading in action, to see firsthand what an investment in my loan would bring for them going forward. For any interested investor you can find me on Localbitcoins as dreher304.