An interesting theory, whereby the insurance contract premium is the BTC by price. Even if we assume that Bitcoin will appreciate in any sort of major financial crisis, long term BTC price action shows that this is by no means a given. I suspect that most insurance policyholders would be very weary of taking out contacts where the payout amount is unknown, and which could be many multiples lower than what they expected. Of course if one believes BTC will go to the moon in the event of a US default, for example, or in the event the non-coverable Yuan, and by inference, China, takes over world trade financing, then, sure, buy Bitcoin.
Makes complete sense to me! I think the big brilliance was to limit the total amount of Bitcoin to the 23 million and give it that degree of scarcity that so many of the other crypto currency don’t have! Great article!!!
Bitcoin as insurance will only work if it has functionality after those events occur. If there is global economic collapse, will the buy pressure exceed the sell pressure? Will the network be impacted by any of these events? If economies move to bitcoin following collapse then bitcoin holders win. If economies move to something else, bitcoin holders might not win...
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Real eye opener. Got a new perspective (buy and hold only)today and for that I thank you.🌹
Flood insurance sucks! Read the fine print ;)
make more sense and is really true in most cases
An interesting theory, whereby the insurance contract premium is the BTC by price. Even if we assume that Bitcoin will appreciate in any sort of major financial crisis, long term BTC price action shows that this is by no means a given. I suspect that most insurance policyholders would be very weary of taking out contacts where the payout amount is unknown, and which could be many multiples lower than what they expected. Of course if one believes BTC will go to the moon in the event of a US default, for example, or in the event the non-coverable Yuan, and by inference, China, takes over world trade financing, then, sure, buy Bitcoin.
Makes complete sense to me! I think the big brilliance was to limit the total amount of Bitcoin to the 23 million and give it that degree of scarcity that so many of the other crypto currency don’t have! Great article!!!
I thought the number was limited to 21M Bitcoin, not 23M ?
You are correct!
Very poor choice of words in your last sentence pomp. Wow surprised at your sloppiness.
I need could tee afford see need touth the world is need to solve be the afford it's noun cold about us yhifdb
I think it is really the role of payment can be more convenient. It can be traded globally, making it easier to conduct business,
Nice
Bitcoin as insurance will only work if it has functionality after those events occur. If there is global economic collapse, will the buy pressure exceed the sell pressure? Will the network be impacted by any of these events? If economies move to bitcoin following collapse then bitcoin holders win. If economies move to something else, bitcoin holders might not win...
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