Paypal allows clawbacks for months, hence it’s difficult to sell for Paypal to anyone who is not already in the -otc web of trust; but by restricting sales to high-karma LWers, I am putting their reputation here at risk if they scam me, which enables me to sell to them. Hence, they can acquire bitcoins & get bootstrapped into the -otc web of trust based on LW.
Pardon me, but—what is the trust boostrapping involved?
Paypal allows clawbacks for months, hence it’s difficult to sell for Paypal to anyone who is not already in the -otc web of trust; but by restricting sales to high-karma LWers, I am putting their reputation here at risk if they scam me, which enables me to sell to them. Hence, they can acquire bitcoins & get bootstrapped into the -otc web of trust based on LW.