Bitcoin Forum

So what are you proposing, to buy insurance for an ICO? Why would people do that instead of an escrow service that could be provided for the ICO? That would be more attractive than an insurance scam in my opinion.

Not only that which insurance company is going to offer that, we will need something close to rating agencies that rated icos, those that were legit will receive the highest scores and those that were not will receive the lowest and then you will need pay insurance based on that, since icos are very risky propositions no matter the score given, the amount you will need to be insured is probably going to be prohibitive so I do not see a whole industry being created for something like this.

Escrow does not guarantee your money back, they only control money spending.
Ok, the scheme escrow+inshurence is more viable?

How about scheme like this,
escrow accredited an ICO's legal and security, and then insure investors for money they invest in ICO?

ICO team do they work, investor have a good sleep, knowing his money work and don't spend on bitches and drugs)

Firstly, the profitability of icos is reducing by the day. So whatever money you spend on your insurance for ico investment will be of no use, either you'll end up getting a loss which is more probable to happen or cut your expenses with your income at the same price. Insurance is only helpful only when the investment amount is very high and the amount f risk is very high and there is a possibility of your investment to be ruined. Otherwise insurance ends up giving you a loss only.

I agree with you,
but I would like loose 10 eth rather than 100 with a possibility to make 200 (even on long term)

Of course it would be nice to have such an insurance program, but no big insurer will take that route and small ones could not afford it. Many of the "altcoins" available in the market right now have very little going for them and some basic research would show they are going to fail. It would cost so much to insure on a long term basis, that any profit potential would be wiped out.

If you want insurance do 2 things

1. Do your due diligence and be sure where you are putting your money and

2. The promoters are those who can be held responsible for their words after they might have agreed to buy at certain price under any circumstance and it can be enforced.

Aside the two above, any other insurance is like telling someone to insure his money for investing in HYIP. I really don't know how that will work out. And moreso, if your are planning in running something like that, how do you determine which project to insure because even in the fiat world, not every risk are insurable e.g gambling. How do you calculate the premium to be paid based on the ICO coming out enmasse everyday. I won't use any insurance don't know about others though.

I think it is better that you choose to invest in legit ICO who will promise that they will return your money when the ICO will fail or something will happen. But I do not think that we will find any ICO like that. But only some may appear to us. Just like ZIGGER ICO as they promised that if ICO failed then they will return and now it came true that they returned the money of investors. Now they are planning for another ICO.

Yes, this would be a very successful tool and all the big and small investors will accept and use it. By this tool no one will hesitate in investing in projects and ICOs as the money is secure. This will also reduce the sacms which are mostly happening now a days with ICOs. Many people have lost there money and still loosing but investing in fraud projects. This tool will help all of them to do a good investment at a legit place.

What a silly question, of course people will agree to use this. The better question is who, in their right minds, will ever do this? The fact is ICOs are one of the riskiest investments on the planet. Since there is like 1/10 chances that the ICO would even be a success, let alone a super successful one like that would make you millions, I don't think anyone will ever be willing to create a sort of insurance for these investments. It's like insuring a gambler's bet at dice. That's just plain stupid.

I think the ideal is good but it's really impossible. There is nothing can insurance us from scam ICO projects, we have to figure it out by ourself.

This is just another person that you're going to have to trust on the internet with your money, and then you're going to have to trust them with massive amounts of ICO money. Worthless idea IMO.

I'd rather find someone trusted on the forum who wouldn't want to sacrifice their name (and they profits they make with their trust) on here to be the escrow for ICO's so they're able to faciltate transcations and even send money back to the original senders if need be.

Insurance is pointless though, rather have an escrow.

people would use it of course to insure their investment. but do you know that all the funds they receive they use it in their project? if they are not successful their is a high chance that they will not return your money because they suffer loss too.

i think that is a good idea. but is there already a project like that? and how? is there a certain wallet where you will put all your investment?

I dont think that there is a tool like that and if there is one then most ICO are in for a loss of profit, when you join an ICO there is no guarantee that it will be successful or not, the only tool that i can think of is self awareness and knowledge towards crypto currency, this is the tool that ive been using to secure myself from losing profit.

Hello to everyone,
We are in the process of creating a platform where investors can save their investments in ICO.

I leave a link to our topic soon.

If you have any question, feel free to ask ;)