5 ms·
i suppose i thought you meant insurance against theft, not loss of value
by sgammon 4y ago
i suppose i thought you meant insurance against theft, not loss of value
- tekknik 4y agotheft is loss of value. either way the fact remains, Bitcoin is difficult to insure due to its scarcity. If I insure 1 BTC now worth $10k then in 20 years or so (or maybe overnight) it jumps to $1mil. The insurance company hasn’t gotten enough premiums to cover the payout. Insurance works well for inflating assets, not so much for deflating.
- sgammon 4y agoyou don't actually need to lose your coins for them to lose value... custody and value aren't the same thing.