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0 sats \ 10 replies \ @nemo 31 Aug 2023 \ parent \ on: Whatever happened to personal responsibility? bitcoin

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21 sats \ 9 replies \ @Fundamentals 1 Sep 2023

property insurance aligns an insurer's incentive with the insured and strengthens ones protection of property. One now has an ally against the state who is incentivized by skin in the game.

Austrians wrote extensively on this.

0 sats \ 8 replies \ @nemo 1 Sep 2023

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21 sats \ 7 replies \ @Fundamentals 1 Sep 2023

yes but in a hard money system, the penalty of not paying a claim is pretty severe. The original statement i was arguing was the comment that insurance is anti-soverign - Im not arguing that its trustless.

0 sats \ 6 replies \ @nemo 1 Sep 2023

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22 sats \ 5 replies \ @Fundamentals 1 Sep 2023

its the cost of losing clients when you can't borrow infinitely to raise them agaiin. in todays system, there's no real penalty to an insurer denying claims because they have an infinite marketing budget.

0 sats \ 4 replies \ @nemo 1 Sep 2023

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21 sats \ 2 replies \ @Fundamentals 1 Sep 2023

they're an ally in the sense that they are incentivized to prevent a government or anyone else from damaging your property.