from Hacker News

Ask HN: Would you pay for a bitcoin insurance policy?

by mrmagoo312 on 11/28/13, 6:48 AM with 3 comments

Lets say you could pay $xx/month to have your bitcoins insurance, in case of theft or lost coins, or anything along those lines... would you do it?

  • by na85 on 11/28/13, 6:52 AM

    Contemporary insurance schemes usually rely on the insurer having some means (or some chance) of possibly recovering the sum, either by siccing their lawyers on the thief/thief's bank or getting the police to step in.

    With bitcoin there's really no viable way to do this as there's no easy way for a sub-NSA-level actor to trace BTC transactions.

    So I'm at a loss as to how such a system could be made to work.

  • by devonbarrett on 11/28/13, 8:26 AM

    What would stop someone sending them to another address which they own, and then claiming they were stolen?