Interesting choice to use a Libyan domain for a service like this.
How is using a Libyan domain interesting here? Bit.ly is doing it.
Perhaps Libya is as reliable as anywhere else in the world - it's all a matter of perspective. Ask The Pirate Bay guys how confident they would be using a .com. Still, the idea of putting a service that offers 'permanence' on a domain so far out of reach seems like a bad idea to me.