satsdisco on Nostr: Sorry for my delay in seeing this! Vexl is different because of the reputation model. ...
Sorry for my delay in seeing this!
Vexl is different because of the reputation model.
You’re not meeting strangers, you’re meeting friends and friends of friends, when I see an offer on Vexl I see how many friends i have in common with the person making the offer.
That is the reputation. If I have 25 friends in common, well I can be certain that that trade is going to go well as we have just so many mutual friends.
If I have 3-4 friends in common, well I would approach it differently if I was making a larger bitcoin buy/sell.
I would say something like “hey I see we both have Bob as a friend, I know Bob well he’s one of my friends from university before I meet you can we both shoot Bob a message and if he says that you’re cool to trade with then let’s do this damn thing”
So even I don’t need to know your name, just if Bob says yes I’m ok to meet.
When you trade based on real world reputation you lower the risk, because if you screw me over well I’m certainly gonna let Bob know that, which damages your reputation.
Vexl is different because of the reputation model.
You’re not meeting strangers, you’re meeting friends and friends of friends, when I see an offer on Vexl I see how many friends i have in common with the person making the offer.
That is the reputation. If I have 25 friends in common, well I can be certain that that trade is going to go well as we have just so many mutual friends.
If I have 3-4 friends in common, well I would approach it differently if I was making a larger bitcoin buy/sell.
I would say something like “hey I see we both have Bob as a friend, I know Bob well he’s one of my friends from university before I meet you can we both shoot Bob a message and if he says that you’re cool to trade with then let’s do this damn thing”
So even I don’t need to know your name, just if Bob says yes I’m ok to meet.
When you trade based on real world reputation you lower the risk, because if you screw me over well I’m certainly gonna let Bob know that, which damages your reputation.