Bitcoin Forum

does anyone have any info to add

i would say to them ive not heard of any major

problems reguarding Bitcoin and insurance,

problems tend to arise more so from the

companies themselves than any

Bitcoin service they may offer,

other than that if the company is reputable

it would be the finer details of the insurance

contract,

so your the one making these posts..

seeing as an exact copy was made of this OP seconds away from this post..

can you please stop your stupid bot

ur delusional it seems can u answer the question?

this is a valid question i need to answer for someone

people can get insured for bitcoins.. the only problem is that the 'asset' value would change quickly. so for instance a company holding 50,000btc($22mill) would probably put an insurance contract of $45mill just to cover fluctuations so that they had a nice bit of time to renegotiate their insurance premium.

the downside of this is these premiums would need to be paid for somehow.. and that will increase fee's onto the user.

so it is possible to do. and i truly wish all companies offering fund storage services (online wallet and exchanges) would do this. but at the moment.. not very many companies do.. so it is the case of keeping the majority of funds on your own private key and then only using 'pocketmoney' amounts with online services... atleast until some proper legit financially ensured companies come into the bitcoin economy

You can insure almost anything, but collecting may be a different matter entirely...

An insurance claim would be very difficult with bitcoin. Try to prove that you are not the one who stole your bitcoins for example..

You could even share a private key with someone on the other side of the world that you have no appearant connection with and run with the money. That would be just insane.

Was this the insurance for the ownership about some amount of bitcoins or was it about the value of that bitcoin?
or was it insurance for those coins settled on an exchanger?

If you are concerned about insuring your BTC investments then you must convert your BTC to cash and place that cash  into an FDIC insured institution. I do not believe the BTC industry and the legalities surrounding it have matured to the point of insuring BTC savings. Perhaps in 10 years or so when and if it becomes a substantial widespread investment then insurance will be offered. Right now you assume the risk. It's early in the game. www.attorneybitcoin.com

This brings up a good question, how can insurance and bitcoin work together.  Like the poster above me said, at this point if you want your BTC investment insured you would have to convert to fiat, or other world currency, and put into an insured bank.

yeah, no idea those stuff will work together.
considering your corcern of that, it's good to sell your bitcoins and go to bank, save your money, so if something bad happen to you in the future, you will take the money for the treatment. that's all