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Signal Adds Cryptocurrency Support

schneier.com

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Re: Signal Adds Cryptocurrency Support

#2

Post by sneak »

> It’s that adding a cryptocurrency to an end-to-end encrypted app muddies the morality of the product, and invites all sorts of government investigative and regulatory meddling: by the IRS, the SEC, FinCEN, and probably the FBI.

We need to fight against the idea that private payments are any less moral than private conversations.

We also need to actively reject the status quo in the USA of a complete and total lack of financial privacy. OF COURSE something that brings real privacy to payments is going to be a target for busybody financial regulators, just as the first widespread e2e-encrypted messenger was (iMessage, now backdoored for the FBI).

Cryptocurrencies at their core are speech, not property, so it makes perfect sense to enable use of them via a private communications tool.

Re: Signal Adds Cryptocurrency Support

#3

Post by creshal »

sneak wrote: post #2

> It’s that adding a cryptocurrency to an end-to-end encrypted app muddies the morality of the product, and invites all sorts of government investigative and regulatory meddling: by the IRS, the SEC, FinCEN, and probably the FBI. We need to fight against the idea that private payments are any less moral than private conversations. We also need to actively reject the status quo in the USA of a complete and total lack…

"private payment" ≠ "payment using an ID that can be trivially linked to your phone number on an indelible public record"

Re: Signal Adds Cryptocurrency Support

#4

Post by dd36 »

sneak wrote: post #2

> It’s that adding a cryptocurrency to an end-to-end encrypted app muddies the morality of the product, and invites all sorts of government investigative and regulatory meddling: by the IRS, the SEC, FinCEN, and probably the FBI. We need to fight against the idea that private payments are any less moral than private conversations. We also need to actively reject the status quo in the USA of a complete and total lack…

Isn’t cryptocurrency inherently public?

Re: Signal Adds Cryptocurrency Support

#5

Post by capitol_ »

I see no good way out of this, if someone forks it and removes all that extra attack surface I guess Moxie will fight it, as he doesn't want many compatible clients.

And if the crypto features stays in there it will become another avenue for pump-and-dump schemes, so I can no longer recommend it to people without looking like a crypto hustler.

Re: Signal Adds Cryptocurrency Support

#7

Post by henearkr »

capitol_ wrote: post #5

I see no good way out of this, if someone forks it and removes all that extra attack surface I guess Moxie will fight it, as he doesn't want many compatible clients. And if the crypto features stays in there it will become another avenue for pump-and-dump schemes, so I can no longer recommend it to people without looking like a crypto hustler.

Fight it? How?
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