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Signal adds a payments feature with a privacy-focused cryptocurrency

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Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#281

Post by xur17 »

PragmaticPulp wrote: post #192
josh2600 wrote: post #174

Earlier quoted context omitted.

The majority of the MobileCoins are available for purchase for non-us persons at https://www.buymobilecoin.com right now.

Yes, we’re well aware that you would love to sell us those coins you pre-mined. That’s the problem. If Signal was serious about this they would have launched their own fork instead of pitching a pre-mined coin to their users.

> If Signal was serious about this they would have launched their own fork instead of pitching a pre-mined coin to their users.

Agreed. They either would have launched their own fork and distributed the vast majority to their users, or at the very least chosen an existing project that was fairly well distributed.

This makes me believe they primarily did this in return for an incentive from Mobilecoin.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#282

Post by gsich »

CynicusRex wrote: post #216
troquerre wrote: post #187

Earlier quoted context omitted.

MobileCoin is already liquid on multiple exchanges so the coins would just be purchased at whatever the market price is. It also doesn't make sense for late adopters to get the same price because there's a lot more risk associated with being an early adopter than a late adopter. This works both ways — if something bad happens to MobileCoin that tanks the price late adopters would be able to buy at a cheaper price bec…

>“It also doesn't make sense for late adopters to get the same price because there's a lot more risk associated with being an early adopter than a late adopter.” Often repeated but false. Early adopters mine or buy large proportions at negligible prices while late adopters mine or buy negligible proportions at large prices.

There is no guarantee that there will be late adopters. So yes, there is risk.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#283

Post by doggosphere »

thaumasiotes wrote: post #269
doggosphere wrote: post #259

Earlier quoted context omitted.

A system which is 12 years old, of which many people have not heard about, don't understand, or may not even care to understand. In some countries its illegal to use. Most countries have unfriendly tax treatment (capital gains on your coffee purchase). Can't be paid in it. Can't yet pay your federal taxes in it. Uncertain if the government will one day ban it.

> Most countries have unfriendly tax treatment (capital gains on your coffee purchase). That's definitely unfriendly tax treatment. Is it different from the tax treatment that applies to national currencies?

Not sure in the US, but in Canada you don't need to report capital gain on foreign currencies if its under $200.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#284

Post by selsta »

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…

Why does the README mention CryptoNote when the project seems to be based on Monero + SCP?

https://twitter.com/fluffypony/status/1379559273504641025

I guess the whitepaper mentions it, but that isn't suprising considering koe wrote it.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#285

Post by doggosphere »

PragmaticPulp wrote: post #261
blackearl wrote: post #257

Earlier quoted context omitted.

Value is lost to existing shareholders who have the value of their shares diluted. Everything you're saying may seem logical, but economics is often illogical and any 1:1 $:stock sales still tank the share price.

> Value is lost to existing shareholders who have the value of their shares diluted. You're confusing percentage dilution with absolute diluation. The shares represent the value of the company. The value of the company has increased by the amount of money raised. Each share represents a lower percentage of the company, but this is offset by the fact that the value of the company has increased by the amount of money r…

Assuming all shares are equal in class, voting power is diluted.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#287

Post by 2OEH8eoCRo0 »

lrvick wrote: post #84

Signal is still centrally controlled and compiled by a single entity and distributed only in an unsigned insecure form or in a signed/verified manner only if you give up your privacy to install with Google Play or the Apple store. Those that only run open source software like myself have no secure way to run Signal short of compiling every release by hand which is impractical. Moxie has stated he will not support any…

>compiling every release by hand

Clicking build in Android Studio?

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#288

Post by qqii »

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…

Thanks for answering questions, it's nice to see that MobileCoin shares so many similarities with Monero with changes that seems to make decent tradeoffs for usability. I have a few questions:

What is the identity and distribution behind the current mobilecoin nodes? What are the requirements for running a node? Since there is no node rewards how will nodes funded in the long term (10+ years)?

Does mobilecoin employ something similar to Dandelion++? What prevents nodes or those running fog from performing timing based attacks? Is mobilecoin suseptable to any other attacks (e.g. Poisoned output, subaddress association)?

How will the mobilecoin foundation and continued development be funded in the long term (10+ years)?

If SGX is found to be vulnerable/no longer fit for purpose is there a mitigation plan?

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#289

Post by bigiain »

orph wrote: post #143
alexmingoia wrote: post #96

Earlier quoted context omitted.

Can you provide more detail? ”Running MobileCoin in an SGX enclave allows nodes to securely manage keys for users. A client can perform remote attestation to its MobileCoin node before transmitting its keys into the remote enclave along with a short recovery PIN. The MobileCoin node can then rate limit authenticated access to the keys, while the enclave prevents the node operator or anyone who compromises the node fr…

See #5 for more details: https://github.com/mobilecoinfoundation/mobilecoin#faq > 5. Will I need to put my keys on a remote server to scan the blockchain for incoming transactions? > Keys will never leave your mobile device. This is a challenging problem and we are very excited to share our solution when we release our mobile SDK software.

Ahh, right. Nice. So keys never leave the phone due to magical hand waving. Got it.

Re: Signal adds a payments feature with a privacy-focused cryptocurrency

#290

Post by bigiain »

Geee wrote: post #83

There are 250 million units of mobilecoin, and majority of them are owned by the founders. Only 37.5 million have been distributed. With current price ($65), they're worth $14B already. This makes the project a scam and impossible for it to work as a reliable money that holds value. Bitcoin had no pre-mine and has been fairly distributed from the start.

> Bitcoin had no pre-mine

/me glances at the great big pile of Satoshi coins...

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