eBay-style reviews for Bitcoin
Read and write reviews of Bitcoin users to help the community judge who is trustworthy
This, presumably, refers to the scheme whereby users on eBay accrue a numerical reputation score as they continue to pull off successful trades, and lose a bit of it when they mess up a transaction.
The Libertarian editor, Stringer, explained “Bitcoin is based on users trust, rather than central authorities, which has made users vulnerable to theft, via market places closing and taking users Bitcoin.” This is certainly the case, since MtGox failed it would be understandable if people were unwilling to deal with Bitcoin; unable to decide who to trust. This is, of course, entirely consistent with the theory of the Micklethwait Alpha, and should not be surprising.
“in a competitive industry, a few percent saved on every sale is potentially very valuable, it can build up very quickly. Using our trust rating on their site will mean that users will be able to know which independent sites are legit and which aren’t. Meaning that for those sellers who would prefer to sell via their own site they can do so, without the worry that they are loosing customers who only buy off people with reputation scores they trust (i.e. from people who sell via Ebay or amazon, Etsy etc.”