You are being fooled by people peddling these conspiracy theories.
I don't know if anyone in their right sense would lose an opportunity to build a multimillion business because he want to profit from a coin that its market cap is not worth 1/3 of the company's development cost.
A lot of people started with an entry level job and that doesn't mean that are not qualify to do the job. I am aware that Bitcoin was founded without a known entity an there are few bitcoin businesses without any public entity.
There's no intention to scam any of you, I don't even think that possible based on the current bitstake development. Trading platform that only involves Bitcoin and Nigerian local currency to only available to Nigerians only. We held quite large deposit of XBS & BC on the multi-stake that were not accessible until the bug was resolved. We didn't steal your coins then and I don't think we will in the future. Everyone got their coins after the bug was fixed as promised.
Bitstake is not a BANK or REMITTANCE COMPANY, we planned to deal only in Naira/Bitcoin. There's no current law that requires any license. You all know that Bitcoin can be used as a money transfer tools. CASE USE - If you are in London buy bitcoin from coinbase, send bitcoin to your relatives in Nigeria and they can sell on Bitstake.
Bitstake entity hasn't being formed yet, there are some issues needed to be addressed internally. Ray created bitstake first website, maybe few of you remembered the sign up page. I recently employed him based on his vast knowledge of crypto and my tight schedule to handle the supervision of the development. Getting on board was not a easy task because wasn't ready to take any project but i persuaded him - i need someone that can explains all the tech to the media.
Bitstake is still in beta and the website is constantly changing everyday. We are still working on the TOS/Privacy and by launch all the ares not covered now will be addressed.
Signed
David