[ANN] [ICO CLOSED] Inchain - insurance for the crypto economy - page 101.

Sergey_Inchain

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Quote from: Kazadar on September 22, 2016, 04:22:36 PM

Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

How and when can people buy insurance? is there a demand?

According to their roadmap they should be ready for business on the 28th of April.

Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

Owning coins doesnt really allow you to own the company. how can i own inchain?

Inchain tokesn are a type of DAO token which does allow you some ownership of Inchain and control. You will be eligibile to recieve dividends, vote and take part in Inchains management.

Thank you! You really answered as like you are the Inchain team member)

Kazadar

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Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

How and when can people buy insurance? is there a demand?

According to their roadmap they should be ready for business on the 28th of April.

Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

Owning coins doesnt really allow you to own the company. how can i own inchain?

Inchain tokesn are a type of DAO token which does allow you some ownership of Inchain and control. You will be eligibile to recieve dividends, vote and take part in Inchains management.

Sergey_Inchain

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Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

How and when can people buy insurance?

It's will be easy: just come to Inchain platform, enter needed info, accept insurance policy offer, pay an insurance premium. DONE.

Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

is there a demand?

We made some survey that allows us to sure the demand is is. Also, we think that the demand will depend on the cost of insurance premium also. Changing it we can influent on the demand.

Quote from: Johnny00 on September 22, 2016, 04:04:15 PM

Owning coins doesnt really allow you to own the company. how can i own inchain?

You can pay all needed costs and to get Inchain)))

Johnny00

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How and when can people buy insurance? is there a demand?

Owning coins doesnt really allow you to own the company. how can i own inchain?

Inchain.io

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Quote from: pawel7777 on September 22, 2016, 03:03:22 PM

Is there ELI5 explanation of how such insurance will work in practice?

If I had my funds insured and the exchange was hacked - how do I make a claim? Who and how decide on whether I get paid and when?

Hi

Our oracles will be monitoring the exchanges, so in essence you won't need to make a claim. If the exchange confirms that it's been hacked and the losses are calculated and confirmed, you will be covered automatically. Please note, we are not going to insure your particular account but the entire platform (including your acc of course); meaning that if only your acc is hacked but the exchange itself is not affected, we won't cover your losses.

Kazadar

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Quote from: pawel7777 on September 22, 2016, 03:03:22 PM

Is there ELI5 explanation of how such insurance will work in practice?

If I had my funds insured and the exchange was hacked - how do I make a claim? Who and how decide on whether I get paid and when?

Iirc you dont need to make a claim. Hacks are major events and will be picked up by the insurance oracles (not sure how they work). The smart contract will start the transfer once apporved by the Inchain insurance committee (elected by the token holders).

As for timeframe I dont know. I guess it couldnt happen until the extend of the hack is made public.

pawel7777

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Is there ELI5 explanation of how such insurance will work in practice?

If I had my funds insured and the exchange was hacked - how do I make a claim? Who and how decide on whether I get paid and when?

davide72

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Hi dev could you reserve italian translation for me? thanks

Sergey_Inchain

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Quote from: nowclever on September 22, 2016, 11:22:20 AM

Quote from: Kazadar on September 22, 2016, 10:02:09 AM

Quote from: Johnny00 on September 22, 2016, 09:57:37 AM

How will the exchanges start using your insurance?

Its not the exchanges that will buy the insurance, its the users.

Traders (and others) keep large amounts of funds on the exchanges. This way they can make sure they dont lose them to hacks.

If hakcers steal the fund, will inchain compensate our money?

Yes, but only for users who insured their balances.

Sergey_Inchain

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Quote from: posternat on September 22, 2016, 10:05:36 AM

If the ETH goes from 0.01 to 0.005 and your asset remains at 100 ETH, then your asset is worth half as much. Does the asset value versus ETH change to maintain overall value?

Nope.

What about ETH goes from 0.005 to 0.01? Must Inchain take away 50% price of assets?

Kazadar

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Quote from: nowclever on September 22, 2016, 11:22:20 AM

Quote from: Kazadar on September 22, 2016, 10:02:09 AM

Quote from: Johnny00 on September 22, 2016, 09:57:37 AM

How will the exchanges start using your insurance?

Its not the exchanges that will buy the insurance, its the users.

Traders (and others) keep large amounts of funds on the exchanges. This way they can make sure they dont lose them to hacks.

If hakcers steal the fund, will inchain compensate our money?

If you have paid for insurance and the exchange is hacked, then yes you will get money from Inchain.

If you had insured 10 BTC on Bitfinex Inchain would have paid you the ~3.6 BTC that was stolen.

nowclever

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Quote from: Kazadar on September 22, 2016, 10:02:09 AM

Quote from: Johnny00 on September 22, 2016, 09:57:37 AM

How will the exchanges start using your insurance?

Its not the exchanges that will buy the insurance, its the users.

Traders (and others) keep large amounts of funds on the exchanges. This way they can make sure they dont lose them to hacks.

If hakcers steal the fund, will inchain compensate our money?

posternat

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If the ETH goes from 0.01 to 0.005 and your asset remains at 100 ETH, then your asset is worth half as much. Does the asset value versus ETH change to maintain overall value?

Kazadar

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Quote from: Johnny00 on September 22, 2016, 09:57:37 AM

How will the exchanges start using your insurance?

Its not the exchanges that will buy the insurance, its the users.

Traders (and others) keep large amounts of funds on the exchanges. This way they can make sure they dont lose them to hacks.

Johnny00

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How will the exchanges start using your insurance?

Jerry S

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this project has a pretty good idea, will be waiting for more infos especially the escrow, i was accidentaly typing about it in a wrong thread lol

Sergey_Inchain

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Quote from: djuragan on September 22, 2016, 08:38:44 AM

Follow, rettwet, join group, share done....
join social media bounty
Thank you Wink

Thank you)

djuragan

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Follow, rettwet, join group, share done....
join social media bounty
Thank you Wink

Sergey_Inchain

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Quote from: DeadBirdzz on September 22, 2016, 08:12:26 AM

Quote from: Sergey_Inchain on September 22, 2016, 03:41:20 AM

Quote from: chichidori on September 22, 2016, 03:37:27 AM

may i suggest if your going to use an escrow SebastianJu is the man your looking for but if your looking for a more credible escrow you can try to contact some of the big exchange and ask them to escrow for you.

We intend to use SebastianJu as one from two escrow

Maybe you should ask Vitalik Buterin to be the second escrow.

That would bring a lot of credibility to Inchain.

Wink

It unbelievable, but I wrote him about 30 messages during a month - no answer)

Sergey_Inchain

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Quote from: bitcoinuserz on September 22, 2016, 08:03:34 AM

I published Korean translation. Please check mod

https://bitcointalk.org/index.php?topic=1624216.new#new

I see it. All bounty campaigns are checked every Saturday. Thank you)

Topic: [ANN] [ICO CLOSED] Inchain - insurance for the crypto economy - page 101. (Read 109157 times)