pull down to refresh

Would you insure your Bitcoin using AnchorWatch?fountain.fm/episode/msLFTemVaBFlODuPr5IW
513 sats \ 8 comments \ @BlokchainB 21h AskSN
Lately Matt’s and Marty’s podcasts have mostly been mouth pieces of their portfolio companies within their Ten31 venture capital company which brings me to today’s episode about AnchorWatch
AnchorWatch’s main product is providing insurance against bitcoin loss and some services for inheritance. Ideally this sounds like a great idea but I wonder at what price?
Are any stackers looking into using this product?
write
preview
related posts
63 sats \ 4 replies \ @Scoresby 21h
Maybe if I had a hell of a lot more bitcoin than I do.
I'm pretty sure you have to use their "vault" product -- It's not like you can roll your own cold storage setup and expect to get it insured.
reply
117 sats \ 3 replies \ @BlokchainB OP 21h
Yeah this is why I am on the fence with it. You have to use their hardware devices. Plus I’m not sure how much this costs for the small stacked stackers.
But I am all for insurance! Risk and loss happen and I am glad this company is around to help mitigate the risk of total loss especially if it happened via the $5 wrench attack
reply
77 sats \ 2 replies \ @justin_shocknet 21h
You have to use their hardware devices
This would defeat the purpose imo, may as well just use an insured custodian if you're doing "self-custody" with their infrastructure.
I think the product makes more sense for company treasuries where the investors demand this to mitigate key-man risk
Taproot being a huge mistake and relatively new, storing large amounts of coin in a tapscript isn't aligned to a risk-averse strategy either.
reply
102 sats \ 1 reply \ @1fatmess 17h
Taproot being a huge mistake and relatively new, storing large amounts of coin in a tapscript isn't aligned to a risk-averse strategy either.
This is hilarious and ridiculous FUD given the bitcoin you deposit with anchorwatch is literally insured.
reply
102 sats \ 0 replies \ @justin_shocknet 16h
The insurance is meant for operational fuck-ups, if their entire portfolio of insurees get pwned that's Force majeure.
Cope harder shitcoiner.
reply
86 sats \ 0 replies \ @k00b 17h
I don't know much about insurance, but the folks at AnchorWatch are good people fwiw.
reply
5 sats \ 0 replies \ @Solomonsatoshi 17h
Isn't using a third party to insure and provide custodial solutions anathema to the whole point of Bitcoin?
I hold Bitcoin because I can hold it without any reliance upon third party rentseekers.
reply
0 sats \ 0 replies \ @BlokchainB OP 14h
I might do a consult. if I pull the trigger I’ll do a post about it
reply