NEW Bitcoin vault offering insurance

[joburgtaxi]

Hi just found this on BBC

http://m.bbc.co.uk/news/technology-25680016

[jdndndndx]

https://www.elliptic.co/vault

[cp1]

Ouch, their default level of coverage on the site (1000 GBP per BTC) adds up to cost 4% of your balance per year.

[Mowcore]

I would like to point out that this must be the first www.bbc.co.uk bitcoin report that does not have that bs inaccurate bitcoin noob guide on the right hand side of the article!

[madmadmax]

Would be funny if Lloyd's of London defaulted on all savings like cyprus

[GigaCoin]

costs involved are not worth it, when personal storage is so much easier.

[Boussac]

Great: this is going to foster wider adoption for bitcoin. Some people are not confortable or tech savy enough to handle cold storage themselves.

[Mowcore]

I would like to point out that this must be the first www.bbc.co.uk bitcoin report that does not have that bs inaccurate bitcoin noob guide on the right hand side of the article!

...They have added the "bs inaccurate bitcoin noob guide on the right hand side of the article!" now, How Bitcoin works.

I guess it was only a matter of time haha.

[teukon]

Would be funny if Lloyd's of London defaulted on all savings like cyprus

The UK is a sovereign nation with it's own currency.  It relies on inflation tax.

[jonanon]

The fees seem pretty high but this is definitely another step in the right direction!

[LiteCoinGuy]

Great: this is going to foster wider adoption for bitcoin. Some people are not confortable or tech savy enough to handle cold storage themselves.

i think so too. its a big step and a logical one.

the fees will go down after time when more and more companys offers that service.