Signal adds a payments feature with a privacy-focused cryptocurrency

Post by fblp » Tue, Apr 06, 2021, 10:33 PM UTC

josh2600 wrote: post #2

Hi! I'm the CEO of MobileCoin. If anyone has any questions please feel free to ask here. We've been working on this project for four years and it has been a labor of love. There's a lot of new technology here. We exist in a highly regulated space so it's possible some questions will require reaching out to lawyers to make sure we answer them in a way that's compliant so please don't feel offended if a response takes…

Post by doggosphere » Tue, Apr 06, 2021, 10:35 PM UTC

PragmaticPulp wrote: post #258

chrisco255 wrote: post #247

Earlier quoted context omitted.

> but those shares still represent the same company plus the new investment money raised by raising the shares. No. Your shares were _diluted_ by the company issuing new shares. Now your 100 shares are worth half as much. Shares have predicted forward value embedded in their valuation. When you buy a share, you're betting that company will continue to grow. If it's having to raise money and issue new stock, odds are…

> No. Your shares were _diluted_ by the company issuing new shares. Now your 100 shares are worth half as much. That's not correct. A company sells shares in exchange for cash. That cash is owned by the company, which is represented by the shares. Companies can't simply dilute away their shareholders like you're suggesting. The money raised by selling shares doesn't simply disappear.

Post by opheliate » Tue, Apr 06, 2021, 10:36 PM UTC

josh2600 wrote: post #177

marcinzm wrote: post #159

Earlier quoted context omitted.

Their own white paper (no longer hosted on their site it seems) says they created 250 million tokens and pre-sold 37.5 million. https://mixin.one/assets/MobileCoin-Whitepaper-EN_FINAL.pdf

This whitepaper is not the whitepaper I wrote back in 2017. We took that down because it was ultimately not the design we implemented. The full system design can be found here: https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/maste... .

Post by adamsvystun » Tue, Apr 06, 2021, 10:37 PM UTC

josh2600 wrote: post #50

RL_Quine wrote: post #12

This is garbage, and shouldn't be part of Signal. Everything on the internet is being corrupted with adding cryptocurrency scams where they absolutely don't belong, it turns Signal from an obvious recommendation into something that makes me hesitate. There's something to be said for focusing on doing one thing well, and that doesn't mean turning a communication platform into a kitchen sink.

Hi, Before you label MobileCoin a scam, I would encourage you to take a look at the Github. I think you'll see that we've made a lot of very carefully considered choices on how to deliver a great payments experience without many of the compromises other cryptocurrencies have chosen. Of note, the speed of transactions, much greener energy design, privacy-protections, and mobile-first UX are differentiators. Many crypt…

Post by BlueTemplar » Tue, Apr 06, 2021, 10:45 PM UTC

sequoia wrote: post #219

meowfly wrote: post #195

The comment from the article echos my own sentiments: > Speaking solely as a person who is really into encrypted messaging, it terrifies me that they're going to take this really clean story of an encrypted messenger and mix it up with the nightmare of laws and regulations and vulnerability that is cryptocurrency. Moreover, there are three other points I'd add: 1. I don't like "do everything" apps like WeChat or Line…

> Early in Signal's development they would add privacy features. Lately they have been adding social features. This is intentional and relates to Signal's growth in the past few years. It's not "a hacker tool for nerds" it's "a friendly, easy to use chat app with stickers & voice messages (also strong encryption)." IRC does one thing and does it well, and barely anyone uses it. The "clean technical vision" story isn'…