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It protects the consumers, not the banks. Same, in this case bitcoinica is honoring all the money and is swallowing the loss themselves.
by perokreco 15y ago
It protects the consumers, not the banks. Same, in this case bitcoinica is honoring all the money and is swallowing the loss themselves.
- wccrawford 15y agoIt protects both. Without the insurance, the bank would have to pay the customers what it could, and then possibly die if it can't.