I am looking for a financial institution or insurance company to create a Crypto Default Swap. An insurance for a basket of "triple-A" crypto currencies. Also people who want to buy the CDS˛ are welcome to inquire...

How would the coins for said CDS˛ be selected? I mean call me paranoid, but I'm not going to take a position on a swap without first considering how the securities are chosen and by whom they were chosen...

TWDsje 

How would the coins for said CDS˛ be selected? I mean call me paranoid, but I'm not going to take a position on a swap without first considering how the securities are chosen and by whom they were chosen...

We will take the tripple A coins, let's take the 10 biggest (market cap) coins and ask a party to create a CDS˛
Probably the market cap will jump above half a trillion dollar tomorrow

TWDsje 

How would the coins for said CDS˛ be selected? I mean call me paranoid, but I'm not going to take a position on a swap without first considering how the securities are chosen and by whom they were chosen...

I presumed it was humor. How can something that isn't backed by anything default? It can collapse but not default.

edit oops-wrong quote

SMCJB 

I presumed it was humor. How can something that isn't backed by anything default? It can collapse but not default. edit oops-wrong quote

Yes it was humor
CDS not would work, for the correct reasons you mention

We miss a good instrument to short this underlying, as many times said, selling a future,
you can get grilled before the market comes to it senses.. (was true for the sub prime also,
it went on for some time, for it really collapsed)

For the moment the market cap of all crypto currencies is slightly lower than yesterday (-10B$)

You mean the people that take positions on such a position might not completely understand the full implications of the bet they are taking? That's nonsense!

rleplae 

Yes it was humor CDS not would work, for the correct reasons you mention We miss a good instrument to short this underlying, as many times said, selling a future, you can get grilled before the market comes to it senses.. (was true for the sub prime also, it went on for some time, for it really collapsed) For the moment the market cap of all crypto currencies is slightly lower than yesterday (-10B$)

CDS's are options. The pay out in default but you only lose the premium in the default scenario.
So your really asking for Options, which I'm sure will be available soon. They will be expensive though!