Is this finally what we need for mainstream consumer use.
A wallet that connects to my bank account and all my bitcoin is insured, mobile app on the way.
https://www.circle.com/insured how? what happens if they go bankrupt with huge amounts of coins disappeared? customers get back most of it 1.5 years later, if the insurance company is still around?
Great question.. we have seen many companies come and go leaving a trail of tears...
Who insures this company? What are the terms.
So this is the Paypal of the Bitcoin world. How does Circle make money? Can they explain that?
"You shouldn't have to pay fees to use your own money. We don't charge fees when you convert funds to or from bitcoin with a linked bank account, when you store your bitcoin, or for bitcoin transactions." <-- from the website.
Note: on my bank statement Circle shows up as "US financial institution Circle(with some gov financial license number), not just Circle.com. I think this is going to solve the issue my last bank had with large sums of money going to and comming from just Coinbase.com's bank account.(Im sure coinbase probably has these license by now also, I'm not bashing them)
The only time I get fees with Circle is when using it with debit card and of course miner tx fees.