Topic: Bitcoin-Insurance.com - page 2. (Read 3905 times)

Lets wait another 5 posts to see the same comment from another person

So far only1 person loaded the acc with money and withdraw it some hours later. I see that the offer of only 1 insurance is a bit small, maybe we could add 1 or 2 more. Which insurances would be interesting for you to buy / sell ?

Can you stop confusing pole by calling this insurance?

Let me use big friendly pink letters:


THIS IS  CREDIT DEFAULT SWAP (CDS)

What is this CDS thingy? Lets find out and search:

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a loan default or other credit event. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, receives a payoff if the loan defaults.

In the event of default the buyer of the CDS receives compensation (usually the face value of the loan), and the seller of the CDS takes possession of the defaulted loan.

Now, here is something interesting to you all:

However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan (these are called "naked" CDSs).

What happens, when there are more CDS contracts outstanding than bonds in existence?

Please feel free to read on: http://bit.ly/Qh0y0m

Yes, plus you get something back in case of no default (the interest made with those 20 btc).
The insurance is only "valid" from the "start" of the cycle till the "end", so if an insurance ends Sept 30, and the first missed payment leading to a default is Oct 1st, then you would still get your 20 BTC from the insurance.

I just want to get this straight from the angle of someone who will buy insurance.

In this case, there is no default.

• I buy 10BTC worth of insurance. This insurance is for 12 weeks.
• Then I buy 10BTC of OBSI.HRPT on the GLBSE.
• I make 7% per week on OBSI.HRPT
• After 12 weeks, I still have 10 BTC of OBSI.HRPT
• I loose the 10BTC I paid for insurance.

In this case there is a default

• I buy 10BTC worth of insurance. This insurance is for 12 weeks.
• Then I buy 10BTC of OBSI.HRPT on the GLBSE.
• I make 7% per week on OBSI.HRPT, until it defaults, on the 8th week
• I get 20BTC paid from Insurance

Is this how it works?

The trade feature is already built in. The only insurance we have right now (for testing) is OBSI. This insurance is right now in "released" mode. that means that new policies can be sold. In a week, this insurance will "start" and then those released insurances can be traded, but no new insurances are released.


Thats one of our next features. Our system will generate graphics which webmasters can post on their websites, showing the Insurance and the amount of policies that have been sold by the user

You people can't be serious, how did any of you make money in the first place?

very interesting. whether there will a exchange website where people can trade their CDS position?

I will be issuing a high yield pass-through bond soon, and I will be pleased to do some CDS trading myself against the security I issued myself. Is there anyway to ask you prove that I have hold a certain position to the public?

Though there is still risk for investing my bond, but I have strong belief in the plan myself. People will have a wrong estimation about the default probability distribution function, and I will make money out of it as I'm the one who knows the distribution the best at the same time deliver a clear signal to the market to protect my investors from panic.

We are working on this, try in 10 min to reset your password.

Edit: should work now, just request your password.

I hope that this will be the last bug, but Im sure it wont. Keep reporting and we will try to fix all problems immediately.

I created an account. But can't login.. even after resetting my password... 

To make it easier for you:

https://bitcointalksearch.org/topic/have-paypal-paxum-need-btc-or-lr-1000-96578
https://bitcointalksearch.org/topic/btc-on-amazoncom-buy-giftcards-with-your-btc-10-discount-62361
https://bitcointalksearch.org/topic/btc-auf-amazonde-kauft-gutscheine-mit-euren-btc-10-discount-76007
https://bitcointalksearch.org/topic/eisenhowers-lending-0-available-97764

Government ID please.

We wouldn't want this to be another scam right? 

I live in Germany, so Im no native speaker. Shoot me a pm with the spelling misstakes and ill fix those.

Where do you live, and how old are you?  The numerous spelling/grammatical errors in your OP scream "unprofessional" to me.

I think it's absolutely ridiculous and I hope people stop handing their money over to ponzi schemes and you don't get any sales.

The capital payed by A and B will be put in various assets, therfor splitting the risk of a default. Feel free to advice me, which assets you consider "save", but in the end I will decide. I had so far Patrick in mind, same as mybitcointrade. I will also make it public, in which assets your funds are put in together with the amounts / percentages. In addition as I stated in my initial post "(perhaps 4, perhaps 7.5% per month we dont know yet)", so dont ride on those 7.5% like its the only thing you understood.

If you would please read the math examples. Telling that there is no advantage for B is just a lie or you didnt understand the scheme. Just read the two lines under "Where is the win?" and if you still think the same, read it again...

@exahash: I wont provide any "dox", you may check my reputation in this forum. I sold over $7000 in amazon GCs for BTCs, in addition bought BTCs with paypal and paxum for more than $8000. Not a single problem. I will make it public, where the funds are put in, like stated above. You may ask those people directly, if they really hold those funds or not

@Deprived I think you didnt understand the system completly. Those 45 BTC you think that BI will lose, come from the "extra interest" generated, by working with the money. Its no fix amount yet, as we dont know which rates we get ourself from save investments and therfor not what we can pay to the loser. Those 45 BTC represent the interest for 1 cycle (3 months) for 200 BTC which calculates to 7.5% monthly (0,075 * 200 * 3 = 45)
[/quote]

So you want to take the money you collect from people to insure risky investments and gamble it right?

Edit: I'm not taking the piss, I think you could have a viable business model as long as you've got enough investors coming in and buying insurance from a variety of different ponzi schemes.

When one ponzi goes tits up you could pay them out with money raised from insurers of other schemes that have yet to fail which would gain you credibility and in turn get you more insurance sales from other stupid people.

The names not very catchy though I've checked godaddy and ponzisure.com is available.

Nice idea.

Now down to business... who holds the coins in the insurance fund?  Where *exactly* will they be invested?

And most importantly, dox please. 

No one gets coins without dox anymore.

Yeah, misread it - the 22.5% I calculated is for 3 months not 1 week.  So your (BI's) profits in that example are whatever profit you can generate over about 7% per month (allowing for compounding) on funds available to you.

The problem then becomes making that 7% - essentially the vast majority of shares/bonds on here are either:

1.  Mining bonds/shares - good luck making 7% a month on those.
2.  Companies investing in shares - most of these invest in 1., meaning you pay them a fee.  Try finding some of these who have made ANY real profit over any significant period.
3.  The high-risk stuff that people want to insure.
4.  Comapnies with an undisclosed business plan (typically making unsecured loans that then get defaulted on or investing in type 3. shares and defaulting when the investment gos South).  The track record of these is far from good.

There's just not much else around to invest in - and pretty much nothing that you can safely rely on to make retuirns of over 7% per month.  There's some ASIC-based shares (mining or development) which may be good bets - but they all have risks of a serious downside, which you can't afford to take.

Try to list even half a dozen shares that will pretty reliably give you 7%+ per month AND have the liquidity you need.

Now look at it from an investor's point of view.  If these reliable investment vehicles are available to you paying out 7%+ per month then they're also available to us.  So for an investment in you to be worthwhile, you need to have potential to be paying US out more than that 7%+ per month (not initially, obviously, but longer-term).  SO we'd want to see figures from you showing what volume you needed (based on the capital requested) to deliver good returns.

I believe usagi is likely correct that there's no real market for it.  There's plenty of market of people who would want to "insure" against default - but those with the confidence to take the other side of the bet will just invest directly. 

The only real exception to that would be the actual issuer of P IF it was just a simple scam/ponzi - then they could reduce their payouts by "insuring" them right up until before they pulled the plug on it.  Maybe that's where your market is.

@kakobrekla the picture is now clickable

@Usagi thanks for pointing this out, but i think that insurance still fits here, especially considering that people are not really familiar with the term "credit default swap (CDS)". So using this term would make it harder for people to understand what we offer.

@Deprived I think you didnt understand the system completly. Those 45 BTC you think that BI will lose, come from the "extra interest" generated, by working with the money. Its no fix amount yet, as we dont know which rates we get ourself from save investments and therfor not what we can pay to the loser. Those 45 BTC represent the interest for 1 cycle (3 months) for 200 BTC which calculates to 7.5% monthly (0,075 * 200 * 3 = 45)

INSUR  ANCE