Quote from: bluemeanie1 on January 10, 2014, 01:55:00 AM

Quote from: HairyMaclairy on January 10, 2014, 01:49:17 AM

Quote from: bluemeanie1 on January 10, 2014, 12:56:13 AM

Quote from: fiatsux on January 09, 2014, 05:41:06 PM

http://www.coindesk.com/worlds-first-insured-bitcoin-storage-service-launches-uk/

Now what does that say about mainstream adoption? Shocked

the problem isn't how do we get Bitcoin to be accepted by eg. Lloyds of London.

the problem is how do we bypass LLoyds of London completely.

seems that a much different attitude has taken over the bitcoin world these days.

-bm

So long as the bitcoin community is rife with pirates, scammers, fraudsters, conmen and hackers then there is a role for theft insurance. No one actually thinks air gapping, paper wallets or cold storage are ideal solutions (it's an internet based currency but the only way to protect it is take it off the internet?! That's crap).

This could eventually lead to fully insured hot wallets which is where we need to be IMHO.

the initial fuel for this movement was an increasing awareness of a systemic bias in our financial system. So tools were conceived and developed in order to help make a more equitable capital system. Bitcoin was(presumably) one of these tools. Sometimes though I wonder if the real story was something else completely. The system does allow for authorities to track taxibility for instance. Financial privacy is going to be of increasing importance in the near future, and Bitcoin not only doesn't offer it, it is misleading in that it offers the APPEARANCE of such, which is probably much worse.

Once we have London based insurance on Bitcoin, then we are back to relying on the same systems we were trying to escape. Why not use PayPal instead of using Bitcoin and buying insurance from Llloyds? Seems that people on here either 1) cant see the forest for the trees 2) are actively trying to move Bitcoin in this direction. We even have full time Google employees now sitting in chairs on the 'Bitcoin Foundation'?

This.

Bitcoin infrastructure currently isn't at a level where it can be SOLEY relied upon as a unit of currency. Ideally instead of Llyods bank offering insurance a Bitcoin provider should do so. There's a business idea for you folks. Wink