4 ms·
Libertarians would argue that this is where insurance comes in. Insurance in this example has two functions: 1. Protecting you from losses 2. Applying standa
by alexpotato 6y ago
Libertarians would argue that this is where insurance comes in.
Insurance in this example has two functions:
1. Protecting you from losses
2. Applying standards to Bitcoin exchanges etc to help prevent losses. A good example of this is fire insurance. An insurance company will require a potential customer to have fire alarms, use specific materials etc before they decide to cover that company's building.
- erfgh 6y agoInsurance on BTC... I wonder how much would that cost... It would dwarf any transfer fees for sure.
- londons_explore 6y ago"You must keep at least one part of a multi-signature key with us for the insurance to be valid". Then the insurance is really cheap... Either the insurance companies systems stay secure and there are no losses, or the insurance company is breached, and they claim bankruptcy...