I have some money in btc-e.
I want to move my money out, but due to withdrawal limits it will probably take me some time.
I rather avoid losing money due to btc-e.com being hacked, disappearing, defaulting etc.
Here is the deal i'm offering:
1. I will pay 0.3 BTC to escrow
2. You will pay 250 BTC to escrow (or less - see below)
3. The insurance period will start immediately after both payments are confirmed by the escrow
4. The insurance period will last one week (7 calendar days = 168 hours)
5. During the insurance period, in the case btc-e.com is hacked, defaults, disappears, or I am otherwise unable to withdraw my money from it for any reason, AND this situation is still occurring 192 hours (8 calendar days) after the beginning of insurance period, I will receive 250 BTC from the escrow. You will keep the insurance premium.
6. If #5 above does not happen (btc-e.com is not hacked, defaults, etc.), the 250 BTC will be returned to you after 7 calendar days, together with the premium.
7. Note that I am not interested in the case where btc-e.com is down for an hour or so and then recovers - only if I am unable to get my money out after 8 calendar days from the beginning of the insurance period, will the insurance be activated.
The event of btc-e.com being hacked, defaulting, disappearing and so on should be catastrophic enough to be easily determined. Also, I will not have to prove that I actually had 250 BTC in btc-e (I might have more or less at any given time). And no - I don't plan on hacking btc-e myself
I will pay escrow fees.
If you have 250 BTC and you think the chances of such event happening _during one week_ are lower than 0.12% (0.3/250), then this should be a good deal for you.
Also, if you have less than 250 BTC, I might consider paying proportionally to what you are able to put (e.g. for coverage of 125 BTC I'll pay 0.15 BTC). 50 BTC minimum please.
I will post the results of the agreement in this thread. This is also an opportunity for you to increase your trust.
I don't think this has been tried before, it will be interesting to see how it will turn out.
i think you are better off using that 0.3 btc to get a bunch of hard-/thumb-drives and storing your BTC offline. a paper wallet stored in a save place(s) would probably be even better.
of course you have to research how to backup your wallet/secret-key. but that should all be possible within 0.3 BTC. you could start by trying to backup 0.3 BTC
this way the probability of BTC-e going down becomes mostly irrelevant. the less people you have to trust the better...
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