More accurately, wouldn't this be a credit default swap?
To collect on the insurance in case of failure of GLBSE, do we have to transfer our right of recovery against GLBSE to you?
If not, can these be purchased purely to speculate on the potential failure of GLBSE by those without GLBSE holdings?
Topic: TyGrr Insurance Hedge your GLBSE risk. - page 2. (Read 3265 times)
@Raphy
I was wondering how long it would take to get to that.
Honestly I have no idea. I will not do it for nothing but then again I clearly do not need to charge a lot to cover the costs of idle BTC.
I am open to offers for now.
Thanks:)
I was wondering how long it would take to get to that.
Honestly I have no idea. I will not do it for nothing but then again I clearly do not need to charge a lot to cover the costs of idle BTC.
I am open to offers for now.
Thanks:)
Arf, it has to come on the table :/
Well, I trust Nefario enough for not wanting to pay a lot for covering my glbse funds. Actually I would pay a lot more for Pirate's default insurance
So for me, I wouldn't pay more than 0.01% a month against a "glbse default".
TyGrr Insurance Hedge your GLBSE risk.
TyGrr Insurance is an operation that I have thought about for a long time but never developed. It is hard to judge risk and keeping around a pile of coins to pay out was not what I wanted to do so I never got involved. However now I have the perfect thing to cover. GLBSE
What I will offer is GLBSE insurance. If GLBSE goes down for whatever reason, hacked and files deleted, nefario runs off, Feds take it over and shut it down I will pay out.
This should be used as a hedge for your investments on GLBSE. For example if you have 1,000 coins on GLBSE you might want to buy 1,000 BTC insurance from me.
Why would I want to insure GLBSE? It is pretty simple. I have a lot of coin from GLBSE that I will not be able to return if GLBSE shuts down. So if GLBSE does get shut down I would be in the perfect position to pay out.
If I am able to pay back my shareholders on GLBSE then I will not pay out insurance. If I am able to return the funds to my shareholders then GLBSE was not “shut down”.
Clearly the insurance cannot be listed on GLBSE. We will have to do this outside GLBSE but can list the information on the forum.
At this time I am not offering to insure specific assets but I will be interested in hearing proposals. I do hope to expand this but will start out slowly.
Thank you.
What are your rates? TyGrr Insurance is an operation that I have thought about for a long time but never developed. It is hard to judge risk and keeping around a pile of coins to pay out was not what I wanted to do so I never got involved. However now I have the perfect thing to cover. GLBSE
What I will offer is GLBSE insurance. If GLBSE goes down for whatever reason, hacked and files deleted, nefario runs off, Feds take it over and shut it down I will pay out.
This should be used as a hedge for your investments on GLBSE. For example if you have 1,000 coins on GLBSE you might want to buy 1,000 BTC insurance from me.
Why would I want to insure GLBSE? It is pretty simple. I have a lot of coin from GLBSE that I will not be able to return if GLBSE shuts down. So if GLBSE does get shut down I would be in the perfect position to pay out.
If I am able to pay back my shareholders on GLBSE then I will not pay out insurance. If I am able to return the funds to my shareholders then GLBSE was not “shut down”.
Clearly the insurance cannot be listed on GLBSE. We will have to do this outside GLBSE but can list the information on the forum.
At this time I am not offering to insure specific assets but I will be interested in hearing proposals. I do hope to expand this but will start out slowly.
Thank you.
If GLBSE goes down I win.
How do you win if GLBSE goes down, if you offer insurance against this yourself?! 
You forgot to make one for Bitcoinica last time. 
Yeah... That is why I never got involved. Now this is a win win for me. If GLBSE goes down I win. If GLBSE does not go down I win
You forgot to make one for Bitcoinica last time.
TyGrr Insurance Hedge your GLBSE risk.
TyGrr Insurance is an operation that I have thought about for a long time but never developed. It is hard to judge risk and keeping around a pile of coins to pay out was not what I wanted to do so I never got involved. However now I have the perfect thing to cover. GLBSE
What I will offer is GLBSE insurance. If GLBSE goes down for whatever reason, hacked and files deleted, nefario runs off, Feds take it over and shut it down I will pay out.
This should be used as a hedge for your investments on GLBSE. For example if you have 1,000 coins on GLBSE you might want to buy 1,000 BTC insurance from me.
Why would I want to insure GLBSE? It is pretty simple. I have a lot of coin from GLBSE that I will not be able to return if GLBSE shuts down. So if GLBSE does get shut down I would be in the perfect position to pay out.
If I am able to pay back my shareholders on GLBSE then I will not pay out insurance. If I am able to return the funds to my shareholders then GLBSE was not “shut down”.
Clearly the insurance cannot be listed on GLBSE. We will have to do this outside GLBSE but can list the information on the forum.
At this time I am not offering to insure specific assets but I will be interested in hearing proposals. I do hope to expand this but will start out slowly.
Thank you.
TyGrr Insurance is an operation that I have thought about for a long time but never developed. It is hard to judge risk and keeping around a pile of coins to pay out was not what I wanted to do so I never got involved. However now I have the perfect thing to cover. GLBSE
What I will offer is GLBSE insurance. If GLBSE goes down for whatever reason, hacked and files deleted, nefario runs off, Feds take it over and shut it down I will pay out.
This should be used as a hedge for your investments on GLBSE. For example if you have 1,000 coins on GLBSE you might want to buy 1,000 BTC insurance from me.
Why would I want to insure GLBSE? It is pretty simple. I have a lot of coin from GLBSE that I will not be able to return if GLBSE shuts down. So if GLBSE does get shut down I would be in the perfect position to pay out.
If I am able to pay back my shareholders on GLBSE then I will not pay out insurance. If I am able to return the funds to my shareholders then GLBSE was not “shut down”.
Clearly the insurance cannot be listed on GLBSE. We will have to do this outside GLBSE but can list the information on the forum.
At this time I am not offering to insure specific assets but I will be interested in hearing proposals. I do hope to expand this but will start out slowly.
Thank you.
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