> That doesn't solve the problem mitigating risk from insolvency
Does FDIC insurance? If the dollar's worth nothing tomorrow, where's the insurance for that?
Everyone in my country has insurance for becoming personally insolvent, it's called welfare. If you have enough bitcoins that losing them would be devastating, you can also get bespoke insurance on them, even if there's not a pre-existing insurance product.
Yes, the FDIC does for when (not if) your funds are lost.
You've also confused deposit insurance with insurance for hypothetical government failure, and drawn a false equivocation with welfare, though my guess is you didn't have any other point so you went with the slippery slope.
Does FDIC insurance? If the dollar's worth nothing tomorrow, where's the insurance for that?
Everyone in my country has insurance for becoming personally insolvent, it's called welfare. If you have enough bitcoins that losing them would be devastating, you can also get bespoke insurance on them, even if there's not a pre-existing insurance product.