keybase-installer failed first time, succeeded second time

The first time I ran the keybase-installer (after getting it with npm) it failed. The log is below. I didn't understand the failure and poked around for a while but finally just ran it again. The second time it succeeded. It looks to me like there's a race in trying to use the gpg keyring before having set it up fully?

I think I have keybase-installer version 1.0.1 - the final line of the npm keybase-isntaller installation:
keybase-installer@1.0.1 /usr/local/lib/node_modules/keybase-installer

Install - during keybase-intsaller - failed the first time:
➜ keybase-installer
npm info it worked if it ends with ok
npm verb cli [ 'node', '/usr/local/bin/npm', 'get', 'prefix' ]
npm info using npm@2.1.6
npm info using node@v0.10.33
npm verb node symlink /usr/local/bin/node
npm verb config Skipping project config: /Users/maplebed/.npmrc. (matches userconfig)
npm verb exit [ 0, true ]
npm info ok
info: Made temporary directory: /var/folders/bg/bk903_6x7d1cdwnv4_gm2w49dxf940/T/keybase_install_Se7uhLJ2gwAOZGVCltaF2A
info: Creating permanent keyring dir: /Users/maplebed/.keybase-installer/keyring
warn: No code-signing key (code@keybase.io) in GPG keychain
info: Fetching URL https://dist.keybase.io/sig/files/1/keyset.json
info: Installing keyset version 1
info: Using keyset version v1
info: Fetching URL https://dist.keybase.io/sig/files/1/index.asc
info: cleaning up tmpdir /var/folders/bg/bk903_6x7d1cdwnv4_gm2w49dxf940/T/keybase_install_Se7uhLJ2gwAOZGVCltaF2A
error: exit code 2
warn: gpg: decrypt_message failed: eof

Here is the beginning of the log from the second attempt:

➜ keybase-installer
npm info it worked if it ends with ok
npm verb cli [ 'node', '/usr/local/bin/npm', 'get', 'prefix' ]
npm info using npm@2.1.6
npm info using node@v0.10.33
npm verb node symlink /usr/local/bin/node
npm verb config Skipping project config: /Users/maplebed/.npmrc. (matches userconfig)
npm verb exit [ 0, true ]
npm info ok
info: Made temporary directory: /var/folders/bg/bk903_6x7d1cdwnv4_gm2w49dxf940/T/keybase_install_dcb760-acA87WxgKseMouA
info: Using keyset version v1
info: Fetching URL https://dist.keybase.io/sig/files/1/index.asc
info: Fetching URL https://dist.keybase.io/pkg/stable
Download /pkg/files/keybase-0.7.3.tgz [=================================================] 100% 0.0s (3594189 bytes total)
info: Fetching URL https://dist.keybase.io/sig/files/1/keybase-0.7.3.tgz.asc
info: verified signature of keybase-0.7.3.tgz against keybase-0.7.3.tgz.asc
info: Running npm install keybase-0.7.3.tgz: this may take a minute, please be patient
npm info it worked if it ends with ok

After that it continues with lots of output and eventually ends with a successful message.

Start by reproducing the first-run keybase-installer failure and compare it with the successful second run, focusing on creation of the keyring and verification of index.asc. Done means a fresh installation succeeds on its first invocation without the gpg decrypt_message failed: eof error.

Written by the indexing model from the issue text.