this is already a thing with anchor watch i think

maybe it's doable with the model of bitkey, an insurance from the server side seed

it would come with some KYC and multisig terms I bet

It’s somewhat false peace of mind though. Have a neighbor who is battling insurance company over burst pipe and flooded basement and who knows if they’ll pay out.

How did we get from "Bitcoin is money you cant fuck with" to "I need insurance"

A monthly insurance fee is the solution to bitcoin providing physical security so the government can't put you in a cell away from your family as they ask for your keys? 😬

That’s called iBIt dude.

This is why people use exchanges: insurance.

Yeah, but they would want to have a 1oo2 key to a multisig, other wise they wouldn't know if you just spent it and claimed theft. A better model would be a bank holding part of a multisig in a safe deposit box. No way for them to know what's in there to rehypothicate. But it stops wrench attacks a...

I wish we lived in a world that didn't need insurance to feel safe 😕

Zero insurers will be interested the moment that they learn that user understanding of technical concepts including cryptography play a major role in these coins' safety.

The insurers establish conditions of insurance and that nearly fully mitigate the actual risk. You could almost ask yourself (or Rob) what an insurer would require, then do that, then you likely wouldn’t even need it any longer.

Insurance….what a ponzi if there ever was one :)

Onramp Multi Institution Custody, even their free accounts have insurance from Bitgo, created just for this reason

I think actually this is the must sensible thing I have heard

And where would the insurance company get the btc to pay out victims of theft? Blackrock would have to start giving out loans to the insurance companies so they can pay people out. Your premiums would be insane, they can't just print more btc from nothing like they can with dollars