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Comment Re:We were hacked, honest (Score 1) 117

> You pay for this in bank fees. Nothing to stop somebody starting a Bitcoin insurance, so your money will be as safe as in a bank. That way you get the security without all the extortionate transfer fees.

I can't imagine what the insurance rates could be for Bitcoin exchanges. Definitely a specialty insurance product, if it even exists.

First off, the underwriter would do their due diligence, and see a number of catastrophic losses at Bitcoin exchanges. An exchange gets hacked, it loses EVERYTHING. Compare that to a bank - a bank gets robbed, it loses whatever was in their tellers cash drawers, if that. Maybe thieves make it into the vault (but that's mostly a scenario that happens in Hollywood movies compared to real life). But they certainly don't get the banks balances that are at the Fed, nor do they take over ownership of the banks loan portfolio.

So, looking at Bitcoin exchanges and realizing that when they do get robbed, they lose it all. How do you price that risk? 5% of assets annually? 10%? 20%? And those are fees that exchanges would have to recoup from customers to pay for. Maybe venture capital would pay for it for some time, but eventually that's a cost that will have to be passed on.

Even more alarmingly from an insurance perspective, there is absolutely no guarantee that the private key securing an exchanges funds actually secure. All they can do is infer that it might be secure, since funds haven't been moved in an unauthorized manner. But that doesn't mean that a hacker hasn't found their way into the exchanges computer system and is just waiting for when the time is right. Heck, there could even be a key collision. The math is against that actually happening, but flaws occur.

Point is, if you tally the maximum amount of coins stored at the top exchanges at any given point over the last 5 years, and the amount of coins stolen from exchanges over that time period, it's likely a horrifyingly high proportion. What insurer is going to risk their (and their investors) money on that?

Comment ATRIX (Score 1) 126

Several years ago (4 or 5, I think), I bought a Motorolla Atria and its laptop dock, because the idea seemed so appealing to me. After a couple weeks of the novelty, all the "laptop" part became was a luggable battery for recharging the phone when I didn't have access to an outlet.

I don't expect much different now. Well, maybe because the Android app ecosystem is bigger with apps that can take advantage of the extra screen realestate, ChromeOS is a thing, etc, but really, I don't think many people are going to want to lug around a laptop shell just so they can turn their phone into essentially a chromebook, when for the same extra weight, they could bring with them a full laptop with the programs on it that they actually use.

Comment Re: Microsoft's Customers are Screwed.. Again (Score 1) 140

could we say that microsoft followed apple, on account of Apples forays with the Newton, then?

face it, microsoft stuck its toe in the water and failed. Doubtful they would have returned in earnest if not for Apple and (later) Android. Or else they would have in their "me too" way, and we'd all be walking around with spare stylus' in our pockets...

Comment Re: Microsoft's Customers are Screwed.. Again (Score 1) 140

Did you actually see Microsofts smart phone? Not terrible impressive given than they basically wedged their existing Windows UI into a smaller form factor and called in Windows CE (WinCE!).

Not like it matters. Microsoft had a go at it, failed miserably, and then Apple revisited it many years later (jf you want to call it that) with a new take and was met with huge success. You could pretty much say the same thing for Windows XP Tablet Edition. Sure, Microsoft made a pen based UI for XP and convinced people to sell laptops without keyboards, but that's not really what Apple was aiming for or drawing from with the iPad.

Comment wasteful intro (Score 1) 126

What seems more interesting? When the stars that were the precursors to the blackholes were formed, or when the event actually happened? I would have much preferred seeing an emphasis on the fact that the event happened 1.7 billion years ago, rather than than the stars that originated the chain of events were formed 12 billion years ago...

Comment Re: paying dividends is dumb (Score 1) 103


Kickstarter isn't in the business of directing investment itself, just giving others a platform to do that. And really, outside of a continuous marketing budget and platform upgrades to accommodate expected growth, if they're taking in much more money than what those two require (along with regular operating expenses, reserving funds for emergency, etc), then they very well might have met the goal they set for themselves, and feel comfortable making distributions.

Kickstarter isn't an eBay type site, where the sky is almost the limit insofar as how much infrastructure they need. Nor is it a VC firm itself, so it does't need to keep funds available for the next opportunity. It's a beautiful, simple platform. I'd say "why muck it up" but clearly, the people operating it understand that as well and would prefer to stay focused on their original intent rather than say "heyyyyy look! We have all this money, what else can we do with it?"

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