will circle's new insurance model bring bitcoin mainstream?

[LiteCoinGuy]

it will bring bitcoin services alot further. for mainstream adoption you need a simple and secure service like this. most people will never install a wallet.

so its great to have such a company!

[MrWDunne]

Your account is not insured, they are insured.

If you computer is compromised and your account gets hacked you are just as fucked as you are with any other service.

The insurance is only against them getting robbed.

[ranlo]

Your account is not insured, they are insured.

If you computer is compromised and your account gets hacked you are just as fucked as you are with any other service.

The insurance is only against them getting robbed.

This. There is no way anyone could insure your own money, because there's too much of a liability. You could spend all of your coins and claim they were hacked and stolen, and nobody would know any better.

[Unluckyduck]

Circle has been pretty damn hazy as to how they will be paying the insurance premium...

[Bibop]

Anyone else feel like that whole video just screams SCAM?

+1
Took my words..

[Davis14]

Anyone else feel like that whole video just screams SCAM?

This whole company screams scam.

[Light]

This. There is no way anyone could insure your own money, because there's too much of a liability. You could spend all of your coins and claim they were hacked and stolen, and nobody would know any better.

This is the problem with most schemes offering 'insurance'. Even if they offered insurance for other cases (such as hardware failure) it's all to easy to claim it and go spend both. It just seems to be impossible to insure something that people cannot verify you have and verify that you have lost.

[Este Nuno]

I think Circle is the probably the first real shot bitcoin has had at making a dent in the mainstream market.

[ranlo]

I think Circle is the probably the first real shot bitcoin has had at making a dent in the mainstream market.

How so, though? If they are using an unsustainable business model (which is hard to tell at this point, being that most information is under wraps), they are more detrimental than helpful.

[Latinman]

Mtgox was officially registered company and went down. Imo its safer to keep most bitcoins in local wallet.

Anyone else feel like that whole video just screams SCAM?

This whole company screams scam.

[BayAreaCoins]

Screams scam. There's no insurance in online digital pirate money.