blockchain – What occurs if I lose Bitcoin Funding, is there Bitcoin insurance coverage?
If fiat financial institution cash is stolen, or financial institution is hearth/broken, we have now banking insurance coverage. If arduous cash gold is stolen, it might at all times be replenished with Lloyds of London insurance coverage, or with a mining annual progress fee of two% per 12 months.
If Bitcoin cash is hacked (because it was in previous), USB Drive destroyed, or the bitcoin is lacking, how can an individual recoup their losses?
A few of us agree, slight inflation 1-2% helps insure towards losses (similar to FDIC insurance coverage, or gold insurance coverage). In fact giant inflation, the place governments finance struggle, pointless authorities applications with inflation of 20-30% 12 months is an excessive amount of.
The query is, How will Bitcoin remedy the insurance coverage concern? Could be it an excellent storage of worth to households if its misplaced?
Notice: I am conscious fiat or gold insurance coverage, won’t work if third get together insurance coverage is missing funds. It may possibly work nevertheless, final time, somebody stole cash from pal’s checking account. Does bitcoin provide any stage of insurance coverage?