Re:Coinbase Exchange
by celticninja on Monday January 26, 2015 @06:09PM
(#8950262)
I bet the $ value is insured. Will that be at the price they were when they were stolen or at the price they are when they pay out your claim? I'm betting which ever is the cheapest.
What I mean is if they are stolen today priced at $200, let's say you have 100btc on there,that is $20k. You claim but it is 2 months later any payout is made. Now bitcoin is only worth $100 each so you they give you $10k to rebuy your 100btc or do they give you the $20k it was worth when it was stolen. How about if the price of btc goes up? 100btc might now cost $200k to replace, so now they want to give you the dollar value at the time it was stolen.
I would not want the be the person putting it to the test regardless of the outcome.
What I mean is if they are stolen today priced at $200, let's say you have 100btc on there,that is $20k. You claim but it is 2 months later any payout is made. Now bitcoin is only worth $100 each so you they give you $10k to rebuy your 100btc or do they give you the $20k it was worth when it was stolen. How about if the price of btc goes up? 100btc might now cost $200k to replace, so now they want to give you the dollar value at the time it was stolen.
I would not want the be the person putting it to the test regardless of the outcome.