The Greek translation is updated with the new graphics here.
https://bitcointalksearch.org/topic/m.16137651
https://bitcointalksearch.org/topic/m.16137651
Thank you)
Topic: [ANN] [ICO CLOSED] Inchain - insurance for the crypto economy - page 99. (Read 109154 times)
September 24, 2016, 12:49:53 PM
Thank you)
September 24, 2016, 12:39:09 PM
Just to let you know that we have added you to the list. Our ICO starts very soon. Next, we will invite you to participate once it is up and running.
All the best,
Inchain team
waiting for this one
All the best,
Inchain team
waiting for this one
Sorry guys, our web developer just married and last 10 days hi was in honeymoon trip)
Tomorrow hi will at work and all will be done
legendary
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Professional Native Greek Translator (2000+ done)
September 24, 2016, 09:18:26 AM
The Greek translation is updated with the new graphics here.
https://bitcointalksearch.org/topic/m.16137651
https://bitcointalksearch.org/topic/m.16137651
September 24, 2016, 08:30:28 AM
Just to let you know that we have added you to the list. Our ICO starts very soon. Next, we will invite you to participate once it is up and running.
All the best,
Inchain team
waiting for this one
All the best,
Inchain team
waiting for this one
September 24, 2016, 05:19:11 AM
Hello there,
Just a quick update that I've participated in this conference yesterday. I was moderating "developers" track and also mentioned Inchain during my talk about ICO's.
Just a quick update that I've participated in this conference yesterday. I was moderating "developers" track and also mentioned Inchain during my talk about ICO's.
September 24, 2016, 03:15:47 AM
Guys, we are looking for partners: https://medium.com/@inchain/inchain-offer-for-pr-bloggers-media-76dca9e27cb2
September 23, 2016, 03:54:23 PM
One more proof: https://www.ambisafe.co/blog/inchain-announcement/
September 23, 2016, 03:47:30 PM
2 We plan to cover BTC & ETH accounts only from the start. And if other altcoins are stolen - it's not an Inchain insurance case.
But if say Monero is stolen and exchange can't afford to cover losses from their own pocket, that would also affect BTC/ETH deposits. Exchange would have to limit deposits for every user, until they're solvent again.
In this case, Inchain would reimburse the losses as it would be recognised as a hack of the platform and users would lose their funds in BTC/ETH.
Quote
3 If insured has no loses then no compensation.
So the insurance is paid out only if exchange goes bankrupt after the hack? Otherwise, every exchange will have to compensate their users, they'd have to allocate a portion of their fee income to cover the loss. The problem is, no one knows whether they'll manage to recover and how long will it take (could be a decade etc).
And how would that work in case of say Mt Gox? Afaik the process is still ongoing and it's still uncertain what are the losses and how much will they manage to recover.
Obviously, it can vary depending on the case. In the most straightforward event, if the exchange does not recover the loss within a certain period of time, Inchain will do it itself and the user would have to transfer the debt to Inchain, which will be dealing with the exchange afterwards.
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4 No, the verifying of this is very difficult task. We charge an appropriate insurance premium from the insured and we do not verify has the insured the money that he insures.
That makes potential exploit very easy, see below (hacker/exchange draining inchain)
There are a number of measures to mitigate such risks:
1. Every exchange has a total limit of the risks insured (1/12 in our finmodel sample)
2. The policy will be a time lag between the issuance of the policy and the date the coverage starts (thanks to Kazadar for the suggestion)
3. KYC
If you have any ideas, you are more than welcome to share.
Quote
5 I think it depends on insurance rank of the service. If we see a major exchange has a very low insurance rank we will not offer to insure accounts on them. And vice versa.
6 Firstly, the Inchain strategy includes an establishment of shared and clear rules for cases when exchanges are hacked. This rules must be accepted by all exchanges/wallets that participate in Inchain insurance. These rules require a fully transparent info about a hack and losses from exchanges/wallets, also all losses must be spread evenly among exchange's users of a hacked cryptocurrency. A good example of this case is the Bitfinex case.
For now, almost every hack is transparent enough to understand how much assets lost.
6 Firstly, the Inchain strategy includes an establishment of shared and clear rules for cases when exchanges are hacked. This rules must be accepted by all exchanges/wallets that participate in Inchain insurance. These rules require a fully transparent info about a hack and losses from exchanges/wallets, also all losses must be spread evenly among exchange's users of a hacked cryptocurrency. A good example of this case is the Bitfinex case.
For now, almost every hack is transparent enough to understand how much assets lost.
OK, so insurance would be possible only for businesses which agree to cooperate/participate with inchain (disclose required info etc)?
To get the clear picture - Who are your target clients (who will buy insurance)? Are you aiming for exchanges (business) or exchange users (individuals)?
Our strategy implies that exchanges would be willing to cooperate with us in order to attract more customers.
The target audience is individuals who have exchange/online wallet accounts. So Inchain insures user accounts covering losses if the platforms have been compromised.
4 - then hacker/exchange (or anyone aware of the hack before announcement) could easily drain entire inchain's capital
Could you pls explain how can a hacker/exchange drain an Inchain capital?
They know about hack before anyone else does --> they buy inchain insurance --> hack is announced to the public --> they get paid the compensation from insurance
September 23, 2016, 12:03:57 PM
Curious about this project . How will it generate revenues if this not recognized by any form of agency from the government.
Insurance premium & investments in the Inchain insurance bonds are going into Inchain insurance fund. And how any insurance company Inchain must invest this fund also. ROI is a main source of revenue.
Look the Inchain financial model in OP.
September 23, 2016, 11:59:17 AM
I guess the person I'm quoting is not one of your team this is the conversion I'm referring to DO NOT POST SESC LINKS
I can't open the link:
An Error Has Occurred!
Session verification failed. Please try logging out and back in again, and then try again.
September 23, 2016, 10:57:50 AM
Curious about this project . HOw will it generate revenues if this not recognized by any form of agency from the government.
September 23, 2016, 09:39:34 AM
I guess the person I'm quoting is not one of your team this is the conversion I'm referring to DO NOT POST SESC LINKS
September 23, 2016, 09:38:10 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
Sure?
Yeap, and many others translations from kanoptx
Sorry about this
TY for the info
Like in "Vê informação sobre o nosso projeto em baixo e nosso website: http://ico.inchain.io"
The correct is "Veja informações sobre o nosso projeto abaixo e no nosso website..."
Crying...
September 23, 2016, 09:35:28 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
Sure?
Yeap, and many others translations from kanoptx
Sorry about this
TY for the info
Like in "Vê informação sobre o nosso projeto em baixo e nosso website: http://ico.inchain.io"
The correct is "Veja informações sobre o nosso projeto abaixo e no nosso website..."
September 23, 2016, 09:32:10 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
Sure?
Yeap, and many others translations from kanoptx
Sorry about this
TY for the info
September 23, 2016, 09:31:29 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
Sure?
Yeap, and many others translations from kanoptx
This is sad, cause you paid for this job
Sorry about this
September 23, 2016, 09:28:16 AM
I loved your business model, good job Dev
Thank you)
September 23, 2016, 09:27:38 AM
I loved your business model, good job Dev
September 23, 2016, 09:23:16 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
Sure?
September 23, 2016, 09:13:42 AM
Nice portuguese translation in Google Translator.
Lol. Keep in touch
Lol. Keep in touch
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