Or, just have it as a standard loss policy. If coins cannot be retrieved then it's no different then if your house gets broken into and something stolen, or you dropped that priceless piece of art.
There is the potential for fraud, but there is always the possibility for that with any kind of insurance.
The question would be can you make it cheap enough that people would be interested, but expensive enough to generate a profit for the company otherwise nobody would offer it.
-Dave
Was just thinking about this last night dave. Instead of trusting it to a third party, why not just insure the bitcoin with a specialized BTC policy? The only problem with that is how do you insure an asset that has amazing upside potential but also can decrease substantially as well? All of that volatility would be hard to come up with a specialized plan, but it would definitely serve its purpose in the market and I think institutional investors would be more inclined to buy BTC if they can insure it. |
|
|
|
You've got to hand it to State Senator of Wendy Rodgers, who introduced a few bills focusing on making BTC legal tender in Arizona, making BTC the same status of USD in the state and becoming accepted as a real currency. Wendy also introduced a bill to make crypto a tax-exempt property in the state. I'd say Senator Wendy is kicking ass! Salute Senator Wendy! She is really striving for growth and innovation for Arizona, which if she is successful could spread to all other states. Any thoughts on this? Here is the link from Coin Telegraph, posted a little over an hour ago: https://cointelegraph.com/news/arizona-senator-doubles-down-on-crypto-amid-the-winter-of-discontent-law-decoded-jan-23-30 |
|
|
|
There is a serious need for "Bitcoin Life Insurance" There is no need for a centralized system which helps people to save guard their bitcoins. Owning Bitcoin means being responsible for your passwords and more importantly, your keys and seedphrases, which always gives you access to your funds. If someone signed up, how could they ensure that the companies products/services are to be trusted?
You can not. They can claim to be audited by an independent body and have transparent files, but centralized systems are beyond your control and can get breached, hacked or even have an internal body compromise the security of your funds. There are decentralized means to ensure your funds get you your heir. Okay yes great points and I agree, but honestly, for most coin holders how many people do you think have the proper safeguards set up ensuring that their heirs would be able to safely locate the location/keys to their holdings properly anticipating a sudden death? I would argue to say that most folks who own keys to coins do not, simply because they don't expect to die anytime soon, especially if they are millennials or younger generation. If they die the discovery of said coins is left completely up to chance, unless they made sure their significant others/family knows the whereabouts/that they even owned the crypto/NFTs, etc. So for that reason, there has to be some sort of round about way that heirs could find this and that it could get distributed evenly. Because lets face it the first person in the family who finds this stuff gets it, and basically from that point forward it is up to their own discretion to distribute evenly, etc. So any person who owns coins and has a will set up, none of what they wished to have happen to their coins would actually happen, unless they were to procure the right service. Honestly at this point I say a treasure map would take the cake!!! hahahhah But seriously there has to be a way, some roundabout way to achieve this...... |
|
|
|
Ello Governor, I am curious to see if there is anything out there that is "in the works" that I am not aware of. I think I am most excited to see Frank's FTX scam coin, but also the limited "Don't get Yogged" card will also be sick! As far as other tokens and such i'm really not sure what other projects that really are interesting are in the works. I am hoping that one day something new is just going to pop up and get lucky enough to get the next super limited piece in time before they sell out! Lol. As an added bonus, if you reply to the top piece, would you also include what your favorite crypto coin is and why? Can't wait to see the posts, if you can also include pictures to make it more fun  (I will add some later) Cheers, TREAD |
|
|
|
|
There is a serious need for "Bitcoin Life Insurance" In the coming years we are going to see so many cases of "Lost Coins", these will be coins that are not accessible because the surviving heirs are unsure of the password to the ledger or trezor, or whatever cold storage wallet they have, or they just won't have copies of the private keys.
I am not aware of any such policy or service that is trusted to mitigate the transfer of ownership of crypto assets to heirs in the event of one's death. Is anyone familiar with a company that does this? If so, what measures do they take to ensure that the crypto is indeed successfully transferred? Is it a Trust, or some sort of financial advisory board? If someone signed up, how could they ensure that the companies products/services are to be trusted?
I'm sure this subject has been brought up. I have just finished up my CEs for my 215 license to continue selling life insurance/ health insurance and it got me thinking. What are your thoughts on this?/ is anyone aware of a company that provides said service?
Best,
TREAD
|
|
|
|
The dream of every successful businessman or woman is to have a good successor. you can not be in the light in which bitcoin has brought you to and allow your children to suffer because you failed to teach them the secret behind your wealth. Let your kids know that bitcoin is the surest way to financial freedom, teach them now that bitcoin is of more value than fiat currency, educate them about the importance of bitcoin to mankind, let them know that bitcoin has changed the economy of countries who saw the light in it and adopted it as a means of doing transactions.
Now that your kids are young and vibrant, be their tutor, ensure they are bitcoin oriented, save them from financial dependency, encourage them to rely on bitcoin instead of saving fiat currency that Depreciates now and then.
Our kids represent the leaders of tomorrow, let's teach them about bitcoin now that we can.
The OPs children will be amongst a very small percentage of heirs that will be highly educated on the subject. As well as mine. We are privileged to partake in a once in a life time opportunity here with the wealth of knowledge. Anyone active on this website is completely WOKE to the fact that the FED is a complete and total ponzi scheme. Our wealth will be secured & our children will be educated in the subject to become complete and utter prodigies, Lord willing. Surely by then we can clinch a BTC Life Insurance plan so to speak, where the process to move the coin to your heirs has been perfected by the time our kids are in their 20s. Many have claimed that Chat GPT will cause the rise in AI that will break BTC to its core, but the computational power is so behind that I just don't believe that BTC could possibly be at risk in our life time, OR? Can anyone much smarter than me speak on this subject of threats towards BTC's future in the hands of AI? |
|
|
|
The Subject line is a hightlight from this article from Analytics Insight:https://www.analyticsinsight.net/bitcoin-predicted-to-peak-at-us32000-in-2023/ Bull Season is back boys and girls  Perhaps not officially pronounced a bull season by the media yet, but we will have our 2023 Bull Season headlines showing soon, slowly but surely. OR basically overnight Bitcoin will crush all expectations on its way to new ATHs in 2023, no doubt! From same article"According to analysts, there is a good possibility that Bitcoin will experience a bullish surge. As per experts, Bitcoin will keep growing in popularity in 2023, and if key factors stay the very same, this trend should continue into 2024. When Bitcoin hits its crucial support, it is known to recover. At the end of 2023, the price range of US$32,000 is anticipated to be broken. I've been seeing headlines lately like highest hash rate:https://cointelegraph.com/news/bitcoin-hash-rate-taps-new-milestone-with-miner-hodling-at-1-year-low This excerpt from the article is eye catching: "Hash rate is a key component of Bitcoin security and significant drawdowns result in network difficulty rising to entice more miners to participate. Network difficulty is also set to reach levels never seen before this week in a nod to fierce competition in the mining sector. According to data from BTC.com, the next automated readjustment will send difficulty an estimated 2.75% higher to 38.62 trillion" The more difficult it is to mine surely will increase the price simply from supply and demand, as we all know. And all of this FUD by JP Morgan Jamie Dimon is comical. The only reason that he would be saying anything like calling bitcoin a "pet rock" and releasing the FUD questioning the true 21 mil BTC cap is because of Bitcoin's ultimate threat to the Federal Reserve. BITCOIN TO THE FREAKING MOOON!!!!! |
|
|
|
Current number of post (Including this one): 292
Rank: Sr. Member
bech32 address: bc1qwzauyzmvw83ghmm9z26qj6uc024fulkvkfwwxq
Merit earned in the last 120 days: 127
Accepted, please update the avatar too. We still have open slots for signature and avatar campaign. Thank you! I am excited to be a part of the team. I have updated my avatar. Cheers, TREAD |
|
|
|
|
Current number of post (Including this one): 292
Rank: Sr. Member
bech32 address: bc1qwzauyzmvw83ghmm9z26qj6uc024fulkvkfwwxq
Merit earned in the last 120 days: 127
|
|
|
|
|
bump
This thing is EPIC!!!!! What a work of art.
|
|
|
|
|
Lets do #45! Thanks! - TREAD
|
|
|
|
Lets go with #16! Good luck everyone  Thanks for the raffle! - TREAD |
|
|
|
Hey guys and gals, I feel like this year is just flying by way too fast already! Like I can't believe that Fantasy Football is already done for the year. How did you do this season? Did your team win? lose? Were you in the middle of the pack or really the caboose like me? I'll tell you that I came in 12th place for my worst performance in my Fantasy Football playing career of 7 years. I have played in nearly 20 leagues in this 7 year span, typically I play 3 leagues per year usually a work, family, and friend league- usually betting x amount on the pot. I've won 4 championships total and usually fall in the middle of the pack, but this is the first time that I've ever been last place, awwww shooot I guess there is a first for everything. I will say that at least I get a funny trophy out of it hahahhah When I get I will be sure to make a post in here & hopefully will have some good bets/ gambling discussion to include in that post as well. Anyways, I'd have to say that its my new favorite league and I can't wait to make a come back for next year and clinch that W! I'm calling it now, I'm going to make it happen folks, Lord willing!! (Pray for me). So all we have left are the final conference games and then the superbowl and then Tom Brady is going to have to figure his life out, just like the rest of us without football for the next 6 months! LOL.I see a lot of my friends using DraftKings and other sports betting platforms, its fun to listen in and see what everyone else thinks are good bets and seeing them be posted in real time. I'm on one of the Discord groups focused on bets/gambling in basically every different sport you can think of showing covers and spreads and over and under threads, i'll admit that I don't really pay much attention to it, at least not as much as I should. I did sign up and place a few bets with an app called UnderDog within the last year, they matched my deposit up to a certain point to entice me to use it, my friends and I also decided to place a bet on a game we were watching, I forget which one but we lost lol. Typically I try to find things that I can sell for a higher price when I try to earn more money, but its time to expand my horizons! I would say that my bets on fantasy football players over the years are probably much better than any over or under spread picks that I could make, and that is still a gamble for me hahahhaha. Based on my knowledge of all the finer details you need to pay attention to / understand the cause and effect relationship between when placing these bets just goes so far outside of my wheelhouse, but I know that I can always get better at all of his. I'm going to give it a shot for this weekend, I am not a fan of any of the teams at all in these final matches this weekend, but something makes me want to place a bet in favor of the Bengals. Can someone tell me, what is the best sports betting app/ site to use to place a single bet on a team like this, or is it really best to place a bet on an over/under spread type bet? Please elaborate, I am really not much of a gambler and have very little experience with sports betting. Okay, so what about the Superbowl? What do you think the outcomes will be this weekend? Will the 49ers win vs. the Eagles? Will the Chiefs conquer the Bengals?! Anyone wanna make a bet?  That would be kind of fun, although i'm not sure if a forum wide bet is allowed but would be so dope- maybe also complicated. Anywho I hope you're all doing great! LFG its Friday, lets seize the day! Place your bets place your bets!!!! Cheers, TREAD |
|
|
|
Congrats.
But, and this is nothing against you or them, do we really want more centralization with this.
Less operators, means less competition, means higher fees.
I see there here. On LI where there are only 1 or 2 operators fees are higher then when I head to NYC where you can get better deals since there are at least 4 providers of BATMs there.
-Dave
I believe most ATM providers hover around the 10-15 percent range but some go as high as 25% or more which is absurd. I think mainly the way they maintain their network and keep the technology current its better than the off chute operator that only runs 10 locations. They are pretty competitive. Most people like us though would never buy bitcoin from a BTM, this solution is for the unbanked, or for other reasons that are private. The "privacy" portion is more appealing to many of the BTM customers, but so long as operators stay regulatory compliant with AML and KYC it doesn't matter where the money comes from or gets sent to so long as they report it properly they can still be in business and not risk losing the business and getting shut down by the FED. |
|
|
|
|
Honestly, I'd say he took quite the gamble. Maybe the gambler of the year for 2022! This man bet his marriage on making it all the way to the super bowl. He also bet the majority of his wealth on the FTX scam. Unfortunately Mr. Brady has lost it all! You have got to feel bad for the guy. I am a huge Brady fan, and can sympathize with his losses. Surely many people that don't like him for whatever reason may be happy with his current predicament, which is honestly pretty sad if that is the case. We are all human here, and dealing with tremendous loss is difficult. Especially when you're in the lime light. I recently heard on a radio talk show a clip from a reporter asking Tom Brady just the other day what he was going to do now? Tom replied, " You know *name of the reporter* if I knew what I was going to do I would have already F$%king done it!" Poor Tom. I would bet that Brady stays at it, he is not going to end his career like this, having one of the most brutal years personally 1000% affected his game, I would bet that he gets picked up by another team soon, hopefully New England! Any thoughts on this?
|
|
|
|
Yay your super rich client just bought over a lot of Bitcoin ATMs, does that mean you can finally give up posting on this forum? And maybe stop using news like that and just give us an exclusive interview with your client? So anyway other than this white lie from OP my wish is for Bitcoin ATMs to make it back into places it has disappeared from. Seems like many did in Covid especially? Shoot, I wish man! As far as an interview with my client, that's a great idea! Would be a very unique way for cold outreach to garner interest & generate new business. I don't know exactly what I'd have to gain from lying about this, but I can assure you that I do business with them enough to call them my client. Unfortunately they pretty much sold off the physical part of the ATM business and now their business is truly the software. They find investors to front the cash on the hardware or franchise partners if you will, and so now instead of just working with Drew directly for all the connections in their machines now I have to reach out to many separate owners that all take different approaches to the connectivity in their machines. Most of them try to write the use of the on site connection into their location contract. So the existing internet circuit that is already in the gas station, vape shop, or wherever the machine is located and just plug and ethernet chord into it, which makes my solution second best. So it has been a little tricky when I come across operators that use that approach because I really can't help them, unfortunately.
I am not a software developer, I am in sales for a telecom company and we provide internet services via SIM cards and IOT routers for the kiosks. Bitstop was actually my first client
So it's the client of the company you're working for, not actually yours, or the client of a company you own... Don't take me wrong, still a nice achievement, but much less important than what I first thought... I was even wondering how comes you're still here, instead of enjoying margaritas... Still, congrats! No, they are my client and I initially fostered the relationship, its sales. To elaborate more on my previous comment above to the other guy, Drew still owns a a decent amount of machines that use my companies wireless service. Its just more exiting to see this whole thing blow up for him, knowing him and seeing him at all the trade shows- I consider him a great client & amazing contact of mine in this space. He takes my calls & helps me find new partners and I am very thankful for it. Genesis Coin is one of the largest Bitcoin ATM manufacturers in the world, and so from that article you can see that their software is used in 35% of all bitcoin ATMs! Essentially maybe not the largest Bitcoin ATM company but the largest Bitcoin ATM company today powering so many other bitcoin atm companies, makes sense? [moderator's note: consecutive posts merged] |
|
|
|
You call them your client, and I ask, are you the software developer that built the ATM software for the machines for them?
I also want clarification about this. In particular, how exactly are they your client? I am not a software developer, I am in sales for a telecom company and we provide internet services via SIM cards and IOT routers for the kiosks. Bitstop was actually my first client in this space in 2018 when I started targeting that market. If you look up in the comments there is a link to another post I made a while back shedding light on my initial meeting with them. |
|
|
|
Genesis coin is your client  that is crazy anyway if bitcoin get regulated what happens with all of them (if the regulators have tight rule on bitcoin)  did put atm need a license to build. but it always good to see news that made crypto more easier to reach by people Yes haha the cats out of the bag now! This post I made a while back tells the story of how he came to be my client. “Chuck” is Drew Barnard: https://bitcointalk.org/index.php?topic=5335262.msg56936144#msg56936144 |
|
|
|
|
Show Posts
