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InSure Defi - $SURE

It is a "defi crypto insurance". You just have to hold the coins in your wallet and you will be insured in case of loss of funds. They cover scams, massive devaluation, and glitches. I like the idea, in theory. I had never seen a coin like this before investing. Since investing I have seen a few other defi insurance coins. It looks like only about 700 people hold the coin. I can't tell if I'm early, or stupid. There is about a 100mil market cap. They have small engagement online, but in dealing with the employees they seem genuine, and the partnerships they have announced are in fact real, like the recent partnership with Chainlink-$LINK. I started to provide liquidity to benefit from their rewards system, but after like 4 only days of providing liquidity, the price changes have resulted in me losing like 10% of my holdings. So I withdrew my funds. Idk, it all looks legit, but it feels like their is something weird going on that I can't quite put my finger on. Any help or thoughts would be appreciated. Thanks yals

TL/DR: Is InSure Defi - $SURE a shit coin and did I waste my money by purchasing it?

Their website:

https://insuretoken.net/index.html

InSure Defi - $SURE It is a "defi crypto insurance". You just have to hold the coins in your wallet and you will be insured in case of loss of funds. They cover scams, massive devaluation, and glitches. I like the idea, in theory. I had never seen a coin like this before investing. Since investing I have seen a few other defi insurance coins. It looks like only about 700 people hold the coin. I can't tell if I'm early, or stupid. There is about a 100mil market cap. They have small engagement online, but in dealing with the employees they seem genuine, and the partnerships they have announced are in fact real, like the recent partnership with Chainlink-$LINK. I started to provide liquidity to benefit from their rewards system, but after like 4 only days of providing liquidity, the price changes have resulted in me losing like 10% of my holdings. So I withdrew my funds. Idk, it all looks legit, but it feels like their is something weird going on that I can't quite put my finger on. Any help or thoughts would be appreciated. Thanks yals TL/DR: Is InSure Defi - $SURE a shit coin and did I waste my money by purchasing it? Their website: https://insuretoken.net/index.html

(post is archived)

[–] • 2 pts

Shit...just readin that made me dizzy. I buy physical silver n put in the ground. Cant afford gold yet. Good luck..

[–] [deleted] • 1 pt

If I understand what you are saying, they will refund the difference if the shit coin loses value? So, you buy at $1 and sell at $0 and they will refund you $0.70?

Well, that means they need to have 70% of their market cap liquid, otherwise they will fall foul of Securities laws.

The market cap is $100,000,000. So that means they need to have $70,000,000 in hand now. If they don't, it's a scam.

[–] • 0 pt

They're insuring against massive devaluation of other coins. Not theirs.

[–] • 0 pt

Crypto is not covered by security laws. This is contract law and you can sue for fraud.

[–] [deleted] • 0 pt

Crypto is a security. Any financial instrument which can be traded is a security. Any organization which trades in securities are subject to security laws.

So, basically, anytime a company holds crypto currency in someone else's name, they have created an investment contract. This is the reason why Kraken, Coinbase, etc are regulated by the SEC. They have to register the security with the SEC.

If the company OP is talking about isn't registering the investment contract with the SEC they are in big trouble.

The upside here, is that Bitcoin is considered a "sovereign currency" by the SEC. which means, by itself, it isn't regulated. It only becomes regulatable once a contract is created that involves a non-soverign security.

Think of it this way, if you have JPY, that's not regulated by the SEC, because it is sovereign. However, when you go to the bank and exchange it for USD, at that point the transaction falls under security law.

Still don't believe me? Read up on what happened to Bitcoin Trader.

[–] • 1 pt

I can't say I know for sure, but I have a hard time believing that anyone's going to insure against massive devaluation, particularly in a market as volatile as crypto.

Don't take my word as expertise, but it smells like a scam.

[–] • 0 pt

That was my take. Say blockchain and people will throw money at you in the current climate

[–] • 0 pt

Yeah me too, but they are not the only coin out there that is claiming to do this, and some of the other coins have some pretty big time backers and a decent amount of publicity/hype. So it definitely seems like something they're trying. Idk if it is plausible tho.

[–] • 0 pt

Buy THETA coins! Big announcement coming in late June or July about TFuel. I started buying Theta around 1$ Something its now over 10$ USD

[–] • 1 pt

I've been buying theta and mining tfuel for a while, thanks tho. I also think theta is gonna be big. It is already getting some good action today.

[–] • 0 pt

Yes if you've been mining with a Guarding note you're set up right! Big names are backing Theta, Theta just got awarded 2 Patents and Live streaming will just get bigger and bigger platform and Theta only has 1B available very low compared to other Coins

[–] • 1 pt

Yeah I agree man. It's got a lot of potential. I saw someone post the other day and they said "buying THETA for anything under 19$ is going to allow you to retire early". Idk how they came up with 19$ lol. But I like the sound of it.

[–] • 0 pt

Bitcoin is gay, and the jew can take it away. Buy ammo, gold, whiskey, etc.

[–] • 0 pt

Take it away how?

[–] • 0 pt

I'm not a computer person, but if I were, and also a jew, I would find a way.

[–] • 0 pt

I would not give them money. I browsed the white paper, 10-15 minutes on the site. Biggest red flag for me is only 700 people holding the coin. The main value in cryptos is derived from Metcalfes law. The only "sure" thing about it is that it would be a speculative play. If you are feeling FOMO there are better plays. ETH is ripping higher right now but if you just want to buy and HODL go for something good like monero SURE kinda creeps me out, if you read the white paper it is total ass covering and the language on the sales side was creepy af

Disclaimer:I am retarded

[–] • 1 pt (edited )

I agree. I also have ETH. I'm just really curious about this one. They have fucked up language in a lot of spots. I feel like it could be because of a language barrier but idk for sure. And it looks like they should change their name to UnSure.... hehehe....... sorry.....

Edit: also the 700 holders is up from 600 from last week. Idk if that matters.

[–] • 0 pt

Crypto is a racket. If you've invested in it, you've already been ripped off.

[–] • 0 pt

What about someone who bought bitcoin at $2000? Have they been ripped off?

[–] • 0 pt

My Buddy made a lot of Money off BTC. He was buying BTC as far back as 2014 dirt cheap

[–] • 0 pt

If someone bought bitcoin last year and are now 10x up have they been ripped off?

[–] • 0 pt

I've made more from this over anything else.