Insuring the crypto assets. Is it possible? - page 3.

Julunguul

member

Activity: 473

Merit: 11

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

I chose cutloss at several coin major a few days ago, because after seeing the candle pattern there was also no sign that later there will be a bull run that happened, so I chose to secure your assets, after all I did it because not every time to have to check market prices

buwaytress

legendary

Activity: 2912

Merit: 3603

Join the world-leading crypto sportsbook NOW!

Of course there's insurance. But bear in mind you're insuring your actual assets in crypto/Bitcoin, not their dollar value. For example, storing it with a custodian service or using one of those licenced Japanese exchanges, qualifies you (in fact, if I'm not mistaken automatically puts you) for insurance on your funds deposited. You deposit 100 BTC, if anything happens to it, you get 100 BTC. That's it.

If it's insurance on price and market movement, you'll want to look at options markets. I have seen insurance services on price movements but none of them as I can recall are accredited, I wouldn't pay an insurer like that anything.

bering

legendary

Activity: 2884

Merit: 1006

Leading Crypto Sports Betting & Casino Platform

Basically i'm still not loss because i still hold my bitcoin but never heard before if there is insuring for crypto asset on the particular countries even possibly our crypto asset will not be protected by law because in the some countries the legality of cryptocurrency is still questionable and i was highly doubt this is will happened

MindControl1337

newbie

Activity: 93

Merit: 0

Quote from: Greenwinter on November 25, 2018, 06:17:15 AM

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

This topical subject sounds interesting, so I did a small google research and found that
still trying to figure that one out, probably smb will understand it better.

yeah, it looks like what i meant. are they working with binance? huge if true

BarbarianMainer

newbie

Activity: 67

Merit: 0

Quote from: TRADE OR HODL on November 25, 2018, 07:16:57 AM

Quote from: QuickMaths on November 24, 2018, 09:18:38 AM

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.

That's possible if all people who trade would be fully identificated, and that's millions of people. I think, it's technically impossible to insure all this people

not everyone needs insurance, even if we speak about non-crypto cases. it'll become a great feature for those who really interested in safer holding

BitcoinForAll

member

Activity: 401

Merit: 10

Quote from: bajingluncat on November 25, 2018, 08:59:15 AM

it seems impossible there is an institution that wants to become an insurance provider because it sounds stupid, the risk of loss is very high, there is no certainty and is less likely to benefit, crypto is not a real asset that is insurable, but if it is there then we can play in the market is more comfortable and always in a safe zone, it feels less exciting, right?

Right now we have right now is as you described, yes. But who knows, probably one day things will turn upside-down

QuiteRight

newbie

Activity: 56

Merit: 0

Quote from: EvilMilk on November 25, 2018, 10:17:27 AM

Quote from: wahyu wida on November 25, 2018, 07:52:24 AM

i don't think it can be done at this time, we know that the regulation in my country doesn't exist yet, whereas to insure it, of course something must be approved by government, of course this is still difficult

yep, the whole crypto regulation should be the first step. after that we can speak about the insurance.

This is actually what's going on right now. Many people started to talk more about regulation on the governmental level. I'd say it's one of the reasons the market is so sad now.

EvilMilk

newbie

Activity: 107

Merit: 0

Quote from: wahyu wida on November 25, 2018, 07:52:24 AM

i don't think it can be done at this time, we know that the regulation in my country doesn't exist yet, whereas to insure it, of course something must be approved by government, of course this is still difficult

yep, the whole crypto regulation should be the first step. after that we can speak about the insurance.

bajingluncat

jr. member

Activity: 406

Merit: 2

it seems impossible there is an institution that wants to become an insurance provider because it sounds stupid, the risk of loss is very high, there is no certainty and is less likely to benefit, crypto is not a real asset that is insurable, but if it is there then we can play in the market is more comfortable and always in a safe zone, it feels less exciting, right?

wahyu wida

full member

Activity: 826

Merit: 100

i don't think it can be done at this time, we know that the regulation in my country doesn't exist yet, whereas to insure it, of course something must be approved by government, of course this is still difficult

TRADE OR HODL

newbie

Activity: 14

Merit: 0

Quote from: QuickMaths on November 24, 2018, 09:18:38 AM

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.

That's possible if all people who trade would be fully identificated, and that's millions of people. I think, it's technically impossible to insure all this people

YellowZapdos

newbie

Activity: 66

Merit: 0

not worrying about the current rates, just bought some more btc. started from the bottom to the moon! Wink

have nothing to add about the insurance, i can only agree with all the guys here who say it's hard or impossible. that's exactly what i wanted to say.

BBjoe

newbie

Activity: 55

Merit: 0

Quote from: QuickMaths on November 24, 2018, 09:18:38 AM

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.

Ok, what will their benefits? In case of exchange's hacking, there's huge amounts of money. Who'll be able to make amends?

STI_2M

member

Activity: 253

Merit: 11

Quote from: figmentofmyass on November 24, 2018, 03:54:24 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more?

insurance schemes, for protecting from market moves? no such thing. nobody provides that kind of insurance, especially in the crypto world. the only thing you can really do is hedge your holdings by shorting or selling. i hedge by selling futures contracts on bitmex with leverage---that way i can minimize the amount of funds deposited on exchanges.

exactly. no one will take responsibility of the market moves, so the ball's in your court. it sounds like you want to shift the responsibility onto somebody else tbh Grin

Greenwinter

member

Activity: 207

Merit: 10

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

This topical subject sounds interesting, so I did a small google research and found that
still trying to figure that one out, probably smb will understand it better.

QuickMaths

newbie

Activity: 42

Merit: 0

Quote from: TRADE OR HODL on November 24, 2018, 08:55:54 AM

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.

Capt00

full member

Activity: 938

Merit: 105

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

We're almost the same, I'm holding my Crypto asset since the first quarter of this year but until now still, I cant them all due to having a lose if I'm going to sell. There's nothing we could do is keep on holding or rather accept our losses and cut it all. Holding here is the best decisions you have.
Insurance? I don't think so we have our own responsibilities when it comes investment and I think the best gift we had if the market has begun to raise up.

TRADE OR HODL

newbie

Activity: 14

Merit: 0

Quote from: OrangePotato on November 24, 2018, 01:05:41 AM

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

Indrawan77

hero member

Activity: 1274

Merit: 516

It is a pretty sad situation where I have lost more than 50% of my assets, but I am not too worry, before I sell the coin its mean that I haven't lose any money yet, I never heard any investment insurance but its a bit odd, every investment got a risk that can't be decrease using insurance, insurance in investment going go make your profit goes down

MindControl1337

newbie

Activity: 93

Merit: 0

Quote from: dwightschultz on November 24, 2018, 02:33:16 AM

Quote from: MindControl1337 on November 24, 2018, 02:07:00 AM

sold at $205, but didn't lost much
as for insurance, i can say that it's pretty hard to implement. it'll take long time to establish the whole crypto-related insurance system, there're many nuances an so on. anyway, just my opinion

Looks like it's the question of time.
Even for the well-established third party companies, innit? Still curious about this thing tho

yep, time will tell
it'll be great not only for third party companies, but for all the parties concerned imo. f.e., saving your assets in case of exchange hacking or smth like this

Topic: Insuring the crypto assets. Is it possible? - page 3. (Read 943 times)