Quote from: retardsystem on November 11, 2016, 02:52:02 PM

Quote from: Kazadar on November 11, 2016, 02:43:46 PM

Quote from: rubiprojects on November 11, 2016, 02:10:09 PM

Quote from: Kazadar on November 11, 2016, 02:05:11 PM

Quote from: rubiprojects on November 11, 2016, 01:20:55 PM

Quote from: mummybtc on November 11, 2016, 11:23:08 AM

Those people whinning about TVE, I really don't see any thing special about the site, there are alot of social media app site like this. I have not seen any ICO project on TVE that has raised $1.7 million, if there is any you can mention it and prove me wrong. ICONOMI, ANTSHARES, Komodo etc do not use the site. Stratis team are the one that developed TVE and use it for their ICO and the project couldn't even raise 1000BTC, another one presently on it is INCENT project and it takes them more than 1 month to raise $1 million. The problem is not about using TVE or not, I think either don't get the concept of INCHAIN or people are scared to invest because of what Spaceone pointed out

It is not about TVE or things, it is the too high threshold, if the threshold is 175k usd, so the project will start. Their business concept is not OK, if an exchange spends money on the insurance and claim a 2 million hack, this project aint able to compensate, it is useless project.

You got the concept wrong then.

1. Its not the exchange that buys insurance. Its the people that uses it that can insure the their accounts on it.
2. Insurance bonds will be sold to cover the risk of potential hacks.
3. They will not insure amounts that cant be covered, like in your example where they have insured 2 million on one exchange with only 175k to cover it.

If they sell to users, serious? Scammers will report fake cases and make the project bankrupt, and if they really compensate users, 1.75m is too less. You know insurance companies have billions of spare funds, not any small companies can form insurance company, only big groups can found insurance companies, or financial companies.

Which is why they only insure against exchange hacks at launch.
Exchange hacks like the recent Bitfinex isnt really something you can fake.

Which is why they sell insurance bonds to allow them to insure more users.
You dont need billions to run insurance, in standart insurance companies they usually hold around 20% of the amount insured.
So if Inchain holds 1M they could insure up to 5M (depending on the risk assessment)

Its all been discussed many times in the thread before.

It looks like an utopian product/ico. The fund tells everything.

Which part is the utopian part?
In many ways an insurance is like running a casino, you just have to make sure that the odds are stacked in your favour.
Its just a long term investment, which most people in crypto dont like. Many people just want to flip ICO's which limits interest of long term holders as well.