These words give me real confidence http://bravenewcoin.com/news/lloyds-issues-emerging-risk-report-on-bitcoin/
“Cryptocurrencies such as Bitcoin could play an important role in transforming financial services and other industries that many feel are ripe for disruption. Investment in the Bitcoin ecosystem of start-ups to date totals over $660 million, which is roughly on par with the level of early stage investments in internet start-ups. This strong showing of support from the venture capital community indicates the very significant economic potential seen for cryptocurrencies.”
Topic: Lloyds issues Emerging Risk Report on Bitcoin (Read 901 times)
“As a technology poised to disrupt existing financial industries and currencies, Bitcoin may one day pose systemic risks to the economy at large. For the near future, however, it is important to keep these risks in perspective. At present, the scale of the Bitcoin economy is minuscule by global standards.”
So they do acknowledge that Bitcoin would disrupt existing financial industries in future.
They cannot ignore us anymore.
I think the insurance would provide a safety net for people, who see Bitcoin as a high risk investment. This will open up a new brand of investors, with medium risk investment plans.
So they do acknowledge that Bitcoin would disrupt existing financial industries in future.
They cannot ignore us anymore. I think the insurance would provide a safety net for people, who see Bitcoin as a high risk investment. This will open up a new brand of investors, with medium risk investment plans.
Definitely, insurance is going to get involved at some point; that will be a big sign that the BTC ecosystem is not small potatoes and is going to keep growing. If there's enough money, there will be insurance. Very positive that Lloyd's is looking into it.
This is a good thing, the larger exchanges can protect themselves a little bit now from hackers. I wonder what the cost will be when it trickles down to us small potatoes. I can't see insuring a major exchange is cheep to do.
Insurance companies are happy to insure anything for a price. I've been trying to put across the idea of a regulated bank that held Bitcoin as a solid asset so to work as a mainstream bank. insurance is an essential ingredient and if a Bitcoin bank that held Bitcoin proves they can hold Bitcoin with almost zero risk through offline, encrycrption, cold storage etc then an insurance company will I'm sure for relatively low premiums insure them. Insurance companies will take time but they won't shy away from business.
Very interesting, especially this "Investment in the Bitcoin ecosystem of start-ups to date totals over $660 million, which is roughly on par with the level of early stage investments in internet start-ups"
Article's a bit short on some points. The complete report is available here:
http://www.lloyds.com/~/media/files/news%20and%20insight/risk%20insight/2015/bitcoin%20%20final.pdf
"Market risk" on page 20 is very interesting. Looking further, they still see a 51% attack as a major risk to BTC.
http://www.lloyds.com/~/media/files/news%20and%20insight/risk%20insight/2015/bitcoin%20%20final.pdf
"Market risk" on page 20 is very interesting. Looking further, they still see a 51% attack as a major risk to BTC.
This goes to show that bitcoin is definitely gaining traction and attention. Hopefully, this drives demand, and the price goes up.
I feel like Jennifer Lopez would have been a better analogy because she's much harder to bed than Carmen Electra, I mean wasn't Electra a stripper at one point?
You say that, but with Jennifer as long as you're 20 years younger and a Latino dancer you should be good. Whereas with Carmen you probably gotta' be Dennis Rodman. Still, I do lean toward Jenny. It's a tough call though, you are right.
Seriously though, this IS a big deal that some old school banking/insurance agency would pay attention to this "little project". The big question I have is does anyone have the link to the actual study? I'd like to see the charts and graphs the article in the OP references.
Cheers.
Cheers.
I think this is it, PDF:
http://www.lloyds.com/News%20and%20Insight/Risk%20Insight/Library/Technology/Bitcoin
I feel like Jennifer Lopez would have been a better analogy because she's much harder to bed than Carmen Electra, I mean wasn't Electra a stripper at one point?
Seriously though, this IS a big deal that some old school banking/insurance agency would pay attention to this "little project". The big question I have is does anyone have the link to the actual study? I'd like to see the charts and graphs the article in the OP references.
Cheers.
Seriously though, this IS a big deal that some old school banking/insurance agency would pay attention to this "little project". The big question I have is does anyone have the link to the actual study? I'd like to see the charts and graphs the article in the OP references.
Cheers.
If Lloyds of London issues a report on Bitcoin and commissions the London school of Economics (the top U.K university for finance related subjects - like U.S M.I.T for tech) to do research, then Bitcoin just gained a huge notch on its bedpost, of the 'Carmen Electra' kind.
Apologies for my analogy. I could have gone with jennifer Lopez, I admit.
Quote: 'Investment in the Bitcoin ecosystem of start-ups to date totals over $660 million, which is roughly on par with the level of early stage investments in internet start-ups.'
Apologies for my analogy. I could have gone with jennifer Lopez, I admit.
Quote: 'Investment in the Bitcoin ecosystem of start-ups to date totals over $660 million, which is roughly on par with the level of early stage investments in internet start-ups.'
This is a good thing, the larger exchanges can protect themselves a little bit now from hackers. I wonder what the cost will be when it trickles down to us small potatoes. I can't see insuring a major exchange is cheep to do.
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