Easy Kwedit

Kwedit Has Legs – Repayment Rate above 33%

It first launched in February – see our post describing it as the “first completely unreliable payment network.”

At launch time the company told me they had absolutely no idea what percentage of people would pay back Kwedit promises because they hadn’t tested the product yet. Since virtual goods are free to create and sell, though, there wasn’t much downside for the seller.

Why am I reminded of the housing bubble?

This will do wonders for teaching our children what money is all about.

Credit for Kids? Kwedit Goes on the Defensive

But Kwedit Promise is unique, and disquieting enough to draw Colbert's ire. "I know that it sounds like a website that hooks little kids on borrowing credit, so let me explain," Colbert said on his March 4 broadcast. "It's a website that hooks little kids on borrowing credit."

Except it really isn't, says founder Danny Shader. "We don't extend credit and we don't have kids using our site," Shader says. What wasn't communicated in Colbert's piece and wasn't immediately clear in the press coverage of Kwedit is that the company does have some baseline rules. Users have to be older than 13 to use the service, and any promises made are nonbinding.

I had no idea that 14 year old users are not considered kids. Why aren't we sending them to Iraq? This is also great news for the movie industry.

PG-13 Films Not Safe for Kids, UCLA Researchers Say

Silly UCLA researchers! Once you hit 14 you aren't a kid any longer though. Danny Shader cleared that all up for us.

So let's just be consistent.

The Twilight Saga - Lunch Box

Manufacturer's Age: 14 years and up

Super Pogo

Manufacturer's Age: 14 years and up

Kwedit

Manufacturer's Age: 14 years and up

M-16 Assault Rifle

Manufacturer's Age: 14 years and up?

Crazy talk?

Youngest Soldier in the Civil War

SERGEANT JOHN CLEM, Twenty-second Michigan Volunteer Infantry, is the youngest soldier in our army. He is 12 years old, and small even for his age. His home is Newark, Ohio. He first attracted the notice of General Rosecrans at a review at Nashville, where he was acting as marker of his regiment. The General, attracted by his youth and intelligence, invited him to call upon him whenever they were in the same place. Rosecrans saw no more of Clem until his return to Cincinnati, when one day coming to his rooms at the Burnet House, he found the boy awaiting him. He had seen service in the mean while. He had gone through the battle of Chickamauga, where he had three bullets through his hat. Here he killed a rebel Colonel. The officer, mounted on horseback, encountered the young hero, and called out, "Stop, you little Yankee devil!" By way of answer the boy halted, brought his piece to "order," thus throwing the Colonel off his guard. In another moment the piece was cocked, brought to aim, fired, and the officer fell dead from his horse. For this achievement Clem was promoted to the rank of Sergeant, and Rosecrans bestowed upon him the Roll of Honor. He is now on duty at the head-quarters of the Army of the Cumberland.

Sergeant John Clem did pretty good for himself at age 12, but just think how much better off he would have been had he been given the opportunity to pretend to pay for pretend guns in pretend games using pretend credit. That's a winning combination if ever there was one.