Yeah - agree totally. I think we’re both saying that insurance will mostly cease to exist.

What I’m focused on is 1) what will a world without it really look like; 2) what lessons should bitcoiners understand - I think it’s presumptive that mistakes won’t be made and that risk will never be mispriced - but we probably agree that companies that do this will get rekt quickly.

Bitcoiners understand counterparty risk but not the risk of outliving their savings. Satoshi focused us all on banks, correctly. But I think there’s a lot to be learned from how insurers have behaved and how their wreckage will unfold in the next decade.