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MobileCoin: A New Cryptocurrency from Moxie Marlinspike

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Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#41

Post by superquest »

icelancer wrote: post #35
superquest wrote: post #28

Earlier quoted context omitted.

https://xmr.to/ looks waaaay too complicated for the average person to use, which is a nonstarter for the average person. And it still processes a Bitcoin transaction, correct? So it will be no faster than Bitcoin?

> https://xmr.to/ looks waaaay too complicated for the average person to use, which is a nonstarter for the average person. OK, that's fine, but services like that could - and will - get much friendlier. I'm just rebutting the quote which is the blanket "no one transacts in cryptocurrency" which is certainly not true for me, even though I felt that way just 2 months ago. Now that I am an active miner of various curre…

Fair point. I think "no one" here is a rhetorical exaggeration meaning "not very many," which might resolve our disagreement ...

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#42

Post by em3rgent0rdr »

superquest wrote: post #4

> "Nobody actually transacts in cryptocurrency," Goldbard says. "So making something that people can actually use is our first goal. And then we want to find additional ways that people can implement it over time. But initially all we want is to make it so people can actually complete transactions." Amen. Too few projects have this focus.

Doesn't lightning network fix this problem?

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#43

Post by Cyberdog »

em3rgent0rdr wrote: post #42
superquest wrote: post #4

> "Nobody actually transacts in cryptocurrency," Goldbard says. "So making something that people can actually use is our first goal. And then we want to find additional ways that people can implement it over time. But initially all we want is to make it so people can actually complete transactions." Amen. Too few projects have this focus.

Doesn't lightning network fix this problem?

Tell us all about all the problems Lightning Network fixes once it is actually implemented.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#44

Post by teraflop »

ajennings wrote: post #8

Wow. MM is really going all-in on for Software Guard Extensions (secure enclave) on the server. What does HN say? Do we trust Intel (motivation and implementation) that much?

Any remote-attestation scheme is theoretically vulnerable to attacks where the CPU manufacturer includes backdoors in the processor hardware (either deliberately, accidentally, or under compulsion from a third party).

Intel's implementation is considerably worse than that. Even if you assume the hardware itself isn't compromised, every remote attestation has to go through the "Intel Attestation Service" which has no end-to-end protection. The IAS is what actually validates the enclave's signature, and it returns a "success" or "failure" message which is signed with an Intel key. But there's absolutely no technical measure that prevents Intel from being compelled to sign a falsified response; a client would have no way of telling the difference.

This is documented by Intel [1] and I'm hardly the first to notice it [2] but people still seem to talk about SGX as if compromising it is equivalent to backdooring the CPU, which is inaccurate.

[1]: https://software.intel.com/en-us/articles/intel-software-gua...

[2]: https://www.blackhat.com/docs/us-17/thursday/us-17-Swami-SGX...

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#47

Post by espadrine »

Using Stellar’s Federated Byzantine Agreement as a basis for consensus is a solid foundation.

David Mazières’ paper[0] displays strong insights and proofs into the structure of byzantine systems with open membership.

[0]: https://www.stellar.org/papers/stellar-consensus-protocol.pd...

I wonder where the code for MobileCoin is, or when it will get open-sourced. All GitHub yields currently is this clearly non-affiliated project: https://github.com/mobilecoind/mobilecoin.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#48

Post by prophesi »

Cyberdog wrote: post #43
em3rgent0rdr wrote: post #42

Earlier quoted context omitted.

Doesn't lightning network fix this problem?

Tell us all about all the problems Lightning Network fixes once it is actually implemented.

Doesn't solve usability, but it solves the slow transaction speeds.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#50

Post by bkolobara »

icelancer wrote: post #32

MobileCoin is backed by XLM/Stellar, which is not decentralized, and so I feel I should note here that I signed up during Stripe's giveaway of Stellar Lumens years ago - and I did indeed get my wallet credited. https://stripe.com/blog/stellar I was given 6000 XLM and I left it in their official wallet for years. On May 12th, 2017 I wrote them an email asking why my wallet, now converted to some newer official wallet,…

You are complaining about receiving free money, but not caring about it until the price went up recently. How is this even remotely Stellar's issue?
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