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gwern comments on Open thread, September 2-8, 2013 - Less Wrong
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To maybe help others out and solve the trust bootstrapping involved, I'm offering for sale <=1 bitcoin at the current Bitstamp price (without the usual premium) in exchange for Paypal dollars to any LWer with at least 300 net karma. (I would prefer if you register with #bitcoin-otc, but that's not necessary.) Contact me on Freenode as
gwern.EDIT: as of 9 September 2013, I have sold to 2 LWers.
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.