Yes, based on trust 🤝
Essentially it's the same when you go on a website, and purchase an item with a credit card. You are trusting the merchant to send out the item you paid for– But in that case you do have some protection via chargebacks if anything goes wrong.
I think that's what makes the P2P economy so stong though– The element of trust, at least for me, means that I will absolutely go above and beyond to follow through on my end of the deal. It's my own personal repuation at stake, and I will do my absolute best to make sure I deliver the best product that I possibly can! I think it's the same for the other nastr/bitcoin-based merchants here. We're not anonymous amazon workers on the other end of some massive supply chain, sending out pacakges to someone they don't know on the other side of the world– We are humble people produding top quality goods for ourselves and our families that we also want to share with our community. 🧡
Make sense! I mean, everything stops working once a merchant stops being trustworthy so the game theory checks out
Thread collapsed
Reputation is a key element here because if a business doesn't deliver (literally) then in a free market system they don't survive.
Thread collapsed
Totally agree with this. It’s literally “proof of work” in action. First impressions are everything in this regard. The trust comes from that very first interaction with the merchant. Are they responsive? Friendly? And the cherry on top - do they include a thank you note in the delivered package? If so, that’s a trusted merchant. They may not nail it every time due to particular circumstances, but you can bet they’ll come around and make it right.
Thread collapsed
