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A comment on Binance exchange hackers steal bitcoins worth $41m. Parent comment

Re:Binance exchange hackers steal bitcoins worth $41m by simiones on Wednesday May 08, 2019 @09:57AM (#19858831)
> How is the USD worth anything after some many bank robberies?

Well, because in bank robberies, it is the bank losing money, not the customers - this is exactly what bitcoin is missing.

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Re:Binance exchange hackers steal bitcoins worth $41m by lawn on Wednesday May 08, 2019 @11:22AM (#19859661)
No, it is in fact the exchanges that are losing money. In this case the customer funds are insured and they will not lose any funds.

> this is exactly what bitcoin is missing

What you mean to say is this is what many cryptocurrency exchanges are often missing, which I agree with.

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Re:Binance exchange hackers steal bitcoins worth $41m by ForHackernews on Wednesday May 08, 2019 @11:33AM (#19859794)
They're not really insured: the exchange has claimed they have a self insurance fund (they call it 'SAFU') that they will draw on to make their customers whole. We'll see if that happens.
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