If fiat bank money is stolen, or bank is fire/damaged, we have banking insurance. If hard money gold is stolen, it can always be replenished with Lloyds of London insurance, or with a mining annual growth rate of 2% per year.
If Bitcoin money is hacked (as it was in past), USB Drive destroyed, or the bitcoin is missing, how can a person recoup their losses?
Some of us agree, slight inflation 1-2% helps insure against losses (just like FDIC insurance, or gold insurance). Of course large inflation, where governments finance war, pointless government programs with inflation of 20-30% year is too much.
The question is, How will Bitcoin solve the insurance issue? Can be it a good storage of value to families if its lost?
Note: I’m aware fiat or gold insurance, will not work if 3rd party insurance is lacking funds. It can work however, last time, someone stole money from friend’s bank account. Does bitcoin offer any level of insurance?