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How does one determine a qualified third party? Obviously you can't go with "You can trust us, we know what we're doing" You could find a party that is endors
by Lerc 10y ago
How does one determine a qualified third party?
Obviously you can't go with "You can trust us, we know what we're doing"
You could find a party that is endorsed by someone going "You can trust them, They know what they are doing, Trust us on this, we know what we're doing"
But that just moves the point of concern.
Is there yet any "You can trust them, if we are wrong about that we will cover your losses" insurance. (even then how can you be certain they will follow through)
- sixhobbits 10y ago"quis custodiet ipse custodies" (who guards the guards themselves) by Juvenal in the first century seems to be the root cause of so many modern issues - from finance, to politics, to automatic server monitoring.
- ryanlol 10y ago>How does one determine a qualified third party? Surely you wouldn't store your cash in a bitcoin exchange? It's not a bank. With bitcoin you don't even necessarily need a third party, a hardware wallet could do just fine. That can be stored in a safety deposit box if you feel like it. >Is there yet any "You can trust them, if we are wrong about that we will cover your losses" insurance. (even then how can you be certain they will follow through) While you can certainly insure anything if you pay enough, I don't think there's anyone publicly offering that in the crypto space. But then there doesn't seem to exist a similar mechanism for USD accounts of any significant size either.