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That's not insurance, that's just ridiculous. An insurance smart contract should require the insuring party hold some fraction of the payout based on the expec

by swiley 9y ago

That's not insurance, that's just ridiculous. An insurance smart contract should require the insuring party hold some fraction of the payout based on the expected number of claims.

barbegal 9y ago
That allows an unscrupulous insurer to use a sybil attack to create insurance contracts with itself that it then pays out against emptying the smart contract pot.
- swiley 9y ago
  It's probably not possible to implement trustless insurance using smart contracts then.