Quote from: sjyi on February 17, 2018, 09:50:31 PM

Just so that I understand your business proposal, I would go over your example here.

I bought $1000.00 worth of bitcoin. Say it is 0.1 BTC.
I buy a policy with you for $2.00 for 12 months of protection.

I hold on to that and one day, it dips to $500.00.

Now I could claim a loss against my policy and you validate that I had 0.1 BTC and the current BTC price is 50% of my purchase price.

I lost only $2.00 policy premium.

Now a set of questions for you.
Whether there are many customers or just one, the math has to make sense.

How will you cover that $498.00 difference?

How will you determine that a claim is valid? E.g. with the BTC price being so volatile, the price could touch $500.00 and then rise back up. How will be consider this?
What if BTC price drops below $500.00? I'm assuming that your coverage is limited to $500.00.

If you can answer how you could cover the $498.00 loss, I for one would be interested it digging further.

Actualy you dont have to buy the bitcoin to get my insurance. You can just pay me 2$ and i will start counting a year. In that year i will follow the bitcoin price. Every time it goes up i will remember the highest value of it. Snd display it in the company website.

So there will be two values displayed:

The highest value of bitcoin in USD
and a 50% of that value.

And in everyone account there will be an expired date 1 year from the date thst he paid the 2$.

If within that period the bitcoin touch the 50% value everyone that has a non expired account will get 500$.

In order to do that i need investors start buying my token in exchange to etheteum. But thats easy because its very cheap now. And the only seller is me and my partner pablo.

As soon as we get to 1000$ ethereum investment we will be able to sell our first insurance. Only to 1 customer.
I belive that when we reach 1500$ ethereum we will be able to sell our 2nd insurance to our 2nd customer.

We then take 1000$ ethereum and convert it to real USD.
in that way we will always have the 500$ to pay our customers if the bitcoin falls 50%.

Why dont you be the 1st investor in this?

But please again only invest what you can fully lose.

Because after all it is still just an idea.
We dont even have a nice website like all nice websites of all the ideas that rise today every day in the internet...

We need a nice website.
We need a whitepaper.
We need investors to buy our fortulatokens.
Im not sure that we need sn insurance expert because i dont see any problems with what i just wrote here.

If you see any problem let me know.

And if you want you can be listed as our first waiting customer willing to pay us 2$ a year for a 500$ protection against bitcoin fall of 50% or more.

When we have our 1st 500$ in ethereum we will let you know.

If you want that then please provide me with your details and i put it in a google spreadsheet. I need email address and name. Maybe more im not sure...

You will be #1 in line.

BTW all the numbers that i put here are estimations. We will need to think of them again and maybe we will change them.

Yair.