Topic: consulting about an idea insurance for bitcoin fall - page 2. (Read 347 times)

thank you for that
Do you want to participate?
you sounds like a mathematician to me

of course we have the funds we have a lot lot lot of fortulatokens

Insurance usually involves big numbers and with the huge volatility swings that the bitcoin can do. You have a potential of everyone cashing in their insurance at once. Would you have the capital to cover all those claims? You also have to think about growing the insurance payment that people give you so that it can be used to pay future insurance claims. You're going to need at least two things. A mathematician guy who can run the numbers for you. Letting you how many people you can cover at what kind of risk to your capital. Another investment guy to take those insurance payments and grow it to cover insurance claims.

Here is a summary of what would be involved:
Basics of starting a insurance agency
https://insureonsolutions.com/resources/agency-management-tips/how-to-start-an-insurance-agency

What is involved in underwriting an insurance:
Gives a good idea of how different forms of insurance is underwritten
https://www.ceclass.com/164.pdf

How to calculate what kind of insurance premium you should charge:
http://www.upet.ro/annals/economics/pdf/2012/part2/Achim-2.pdf

hello,

I want to talk about an idea that I have, the idea involves Bitcoin, Insurance and new token named "fortulatoken".

the fortulatoken already exists. the story of the fortulatoken is a very strange story. I was in a bitcoin discussion group in facebook when I crossed a post of a guy that tells "whoever will give me his ethereum wallet address I will send him a random number of my own tokens". people ignored his post and nobody answered him. But I asked him "wait a second I give you my wallet address and you put inside it tokens?" here is my wallet address. and I wrote the address.

a few minutes later I found the tokens and then we keep talking and became friends so he gave me a lot of fortulatokens. to be presise he gave me 50,000,000,000 tokens.

The only problem is that nobody knows about fortulatokens so my 50 miliard tokens basicaly worth 0 USD or 0 Ethereum or 0 of everything.
so what we want to do is to give value to those tokens.

And the idea we have is to open an insurance company that will insure a bitcoin fall of over 50%.
That means whoever buy a defense from such falling will receive an amount of ethereum or fortulacoin that will be worth an amount that we will set.

for example the amount can be 500$.

if the bitcoin falls 50% or bigger fall we pay whoever be signed up in our system 500$ in ethereum (or fortulatoken).

of course this service will cost a price just like buying an insurance.

or if you want to call it "a put option on the bitcoin" but less complicated. the amount we pay per customer will be constant.

so this is the idea.

and with this idea we want to start our fortulatoken movement.

we already have a few people that told us they will agree to pay 2$ per year for a 500$ defence if bitcoin falls more then 50%.

Think for yourself will you pay 2$ per year for such a defence?

of course that if we have too many customers and the bitcoin will fall a 2$ will not cover our lost.
so we have to think more accurately about this model and at first the number of customers will be limited so even if there is a falling in the bitcoin we will not go bankrupcy.

if you like this idea and you have questions or comments please write them here. I would love to hear thoughts about this.

if you want to invest please invest but not too big amounts please invest only what you can lose. because this idea might still have some problems and also because in general the statistics of new companies are 1 out of 10 success and the other 9 fails.

and we are very new.


A little about ourselfs:

I can tell that we are very honest people.
currently we are two and we might grow in the future.
we will need to consult people that understand insuurance better then us and this cost money.

we hope to start making a movement to our coin which is tradeble in a bourse names "Etherdelta"

in this link:

https://etherdelta.com/#0x0309a014757361bdd5807fb11710542cc815bd8b-ETH

we have a bonus plan for the first 100 investors that will invest 10$ worth of ethereum in our project.
the bonus will be a percentage of the amount of fortulatokens you bought and we will also have to decide what that percentage will be set to.

we have a roadmap
it is here:


http://cryptorotate.com/roadmap.php


So thats it.
Hope to hear your opinions.


Yair