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Ask HN: Would you pay for a bitcoin insurance policy?

4 pointsby mrmagoo312over 11 years ago
Lets say you could pay $xx/month to have your bitcoins insurance, in case of theft or lost coins, or anything along those lines... would you do it?

2 comments

na85over 11 years ago
Contemporary insurance schemes usually rely on the insurer having some means (or some chance) of possibly recovering the sum, either by siccing their lawyers on the thief&#x2F;thief&#x27;s bank or getting the police to step in.<p>With bitcoin there&#x27;s really no viable way to do this as there&#x27;s no easy way for a sub-NSA-level actor to trace BTC transactions.<p>So I&#x27;m at a loss as to how such a system could be made to work.
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devonbarrettover 11 years ago
What would stop someone sending them to another address which they own, and then claiming they were stolen?