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MobileCoin: A New Cryptocurrency from Moxie Marlinspike

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Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#51

Post by superquest »

wmf wrote: post #39
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.

Because you can't get rich building it and you can't get rich hodling it and the press won't create much buzz.

Why can't you get rich building it?

I doubt one would get rich as Bitcoin creators, but one could still make a killing ....

Edit: And this stands to reason. We're relatively later in the game, and so new contributions are less fundamental by definition.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#53

Post by superquest »

prophesi wrote: post #48
Cyberdog wrote: post #43

Earlier quoted context omitted.

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.

Note: transaction speed is a component of usability

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#55

Post by icelancer »

bkolobara wrote: post #50
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?

>>You are complaining about receiving free money

Aside from the fact that this is a terrible line of argumentation ("Person A gave you $100 and then Person B later stole it out of your house, what's your problem with that?"), that is not the point of my comment at all. I suggest you read a bit more specifically in regards to service, transactional security, and the fact that the coin is federated and not decentralized.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#56

Post by icelancer »

prophesi wrote: post #48
Cyberdog wrote: post #43

Earlier quoted context omitted.

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.

That's possible, but the commenter above you isn't talking about that. He is talking about the fact that it is yet to launch and solve all of the problems it purports to.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#57

Post by jerdfelt »

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.

I'm not sure if you're trying to imply that Lightning Network is vaporware, but there are currently three implementations that pass the integration tests:

https://github.com/lightningnetwork/lnd https://github.com/ElementsProject/lightning https://github.com/ACINQ/eclair https://cdecker.github.io/lightning-integration/

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#58

Post by [deleted] »

superquest wrote: post #51
wmf wrote: post #39

Earlier quoted context omitted.

Because you can't get rich building it and you can't get rich hodling it and the press won't create much buzz.

Why can't you get rich building it? I doubt one would get rich as Bitcoin creators, but one could still make a killing .... Edit: And this stands to reason. We're relatively later in the game, and so new contributions are less fundamental by definition.

[deleted]

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#59

Post by highd »

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.

This is secondary to there being no benefit to the average user for transacting in crypto vs Visa. What incentive is there for an end user to use even a hypothetically optimal crypto system? Then is that incentive sufficient to overcome network effects?

The appropriate and interesting applications of crypto seem to be totally leaving p2p cash behind - it just doesn't seem like a good fit.

Re: MobileCoin: A New Cryptocurrency from Moxie Marlinspike

#60

Post by Ded7xSEoPKYNsDd »

muricula wrote: post #45

A bit ironic that MobileCoin is targeting x86_64 and SGX seeing that the vast majority of mobile devices run ARM. I wonder how easy this would be to port to the ARM trustzone?

ARM Trustzone doesn't do anything related to remote attestation, which I'm guessing this thing is all about (even if the article doesn't seem to mention it). So I'll claim it is impossible.

Edit: You could still check the signatures signed by the trusted Intel CPUs on your ARM device of course, but any mining would have to happen on a SGX-enabled Intel CPU. (Or anything else with Intel's private key.)

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