Et Tu, Signal? • Hacker News Board

Re: Et Tu, Signal?

#381

Post by tom_mellior » Wed, Apr 07, 2021, 8:58 PM UTC

marcinzm wrote: post #358

tom_mellior wrote: post #355

Earlier quoted context omitted.

I didn't mean to suggest that everything is fine with MobileCoin! Quite the contrary, it appears to be a complete shitshow. But in ways that are different from what the featured article claimed. I'm very much opposed to Stephen Diehl's default approach of "everything to do with cryptocurrency is a scam, because I say so". Many things (probably including MobileCoin) are scams, but proper sources are still needed, and…

The issue is that by the time you have found enough proper sources, especially with the scammers actively making it harder, the scam will have been done with and paid out to the scammers. So the only logical approach I feel is to assume it's a scam unless those involved put the effort into proving otherwise.

The author has obviously "found enough proper sources" because they were able to quote the figure about the issuers controlling 85% of the supply etc. It's really not too much to ask to link to the place where they read this.

Re: Et Tu, Signal?

#382

Post by matkoniecz » Wed, Apr 07, 2021, 9:17 PM UTC

josh2600 wrote: post #342

deft wrote: post #329

Earlier quoted context omitted.

This isn't addressing the parent comment at all. Does the trust plan to market dump coins on their users?

I'm not sure what you mean by dump. MobileCoin plans to reinvest coin proceeds into the ecosystem to help foster economic development. We also plan to give away coins once we figure out how to do so in a regulatory-compliant fashion. MobileCoin also needs some amount of money to operate, some of which will come from the sale of coins, but our balance sheet of coins is quite limited. We would prefer to minimize those…

> I'm not sure what you mean by dump.

Sell your token at overinflated prices (in a similar way as other ICO scams) and funnel money into pockets of whoever is running this specific scam, with some minor amounts put toward claimed goals.

Re: Et Tu, Signal?

#383

Post by mklarmann » Wed, Apr 07, 2021, 9:44 PM UTC

josh2600 wrote: post #317

mklarmann wrote: post #315

Earlier quoted context omitted.

Are there any considerations using signal as an identity verification platform for other services?

I can’t speak for signal but I don’t expect them to ever scan a driver’s license or passport.

I meant an anonymous identity system linked to blockchain technology.

Re: Et Tu, Signal?

#384

Post by tomputer » Wed, Apr 07, 2021, 10:12 PM UTC

josh2600 wrote: post #293

dleslie wrote: post #284

Earlier quoted context omitted.

Why another altcoin and not simply ETH or BTC? You state privacy and performance: could you be more specific?

A few things: 1) tx settlement time is ~3 seconds on mobilecoin, p99 latency right now with single block finality. Eth and Btc are great but they aren’t that fast (for payments speed really matters). 2) with respect to privacy, the key innovation of MobileCoin is that when all of the systems are operational, there is no transaction graph stored in the ledger. The links between transactions are known only to the count…

Have other existing privacy cryptocurrencies been considered?

Grin is a lightweight privacy cryptocurrency using MimbleWimble. It uses a fair distribution (no pre-mine), with an emission of 1 GRIN per second:

https://grin.mw/

Re: Et Tu, Signal?

#385

Post by josh2600 » Wed, Apr 07, 2021, 10:13 PM UTC

matkoniecz wrote: post #382

josh2600 wrote: post #342

Earlier quoted context omitted.

I'm not sure what you mean by dump. MobileCoin plans to reinvest coin proceeds into the ecosystem to help foster economic development. We also plan to give away coins once we figure out how to do so in a regulatory-compliant fashion. MobileCoin also needs some amount of money to operate, some of which will come from the sale of coins, but our balance sheet of coins is quite limited. We would prefer to minimize those…

> I'm not sure what you mean by dump. Sell your token at overinflated prices (in a similar way as other ICO scams) and funnel money into pockets of whoever is running this specific scam, with some minor amounts put toward claimed goals.

This is hard because we don't have any control over the price of the coin whatsoever :(. We don't sign any listing agreements or do market making or pay exchanges anything to list. We literally haven't done anything except publish the code and make the coin available to the public.

Thank you for helping me to understand what you're looking for; we will go back to our counsel and ask them for more advice with this in mind.

Re: Et Tu, Signal?

#386

Post by josh2600 » Wed, Apr 07, 2021, 10:14 PM UTC

lupire wrote: post #369

josh2600 wrote: post #275

Good Morning, I am the CEO of MobileCoin. A few points: 1) I started MobileCoin to fund Signal. That’s it. I believe that a world with a well-funded signal is a better place. In order for signal to compete in the 21st century with messaging apps around the world they need a payment story. MobileCoin is the only thing ever built that is both privacy protecting and fast that meets the standards of data retention signal…

Is it a stable coin? Users want to send real money; MOB is just temporary inconvenience necessary for digitalization. Do you guaranter that users can get out the same £ they put in (minus a clearly disclosed fee, within a reasonable time frame of days to weeks)? If not, it's useless. I'm a chat app user, not a Forex trader.

This is not a stablecoin. MobileCoin has plans around stablecoins in short order that will allow users to transparently get back to stability on their transactions, but those aren't available on day 1.

Re: Et Tu, Signal?

#387

Post by josh2600 » Wed, Apr 07, 2021, 10:14 PM UTC

qqii wrote: post #366

josh2600 wrote: post #275

Good Morning, I am the CEO of MobileCoin. A few points: 1) I started MobileCoin to fund Signal. That’s it. I believe that a world with a well-funded signal is a better place. In order for signal to compete in the 21st century with messaging apps around the world they need a payment story. MobileCoin is the only thing ever built that is both privacy protecting and fast that meets the standards of data retention signal…

Why can't I find details about your node partner vetting process and what the requirements are to be considered a partner to run a node?

We don't vet node operators. Node operators each individually choose who to peer with in a liquid democracy. Anyone can peer with anyone else; consensus is an emergent property of the graph.

Re: Et Tu, Signal?

#388

Post by spiznnx » Wed, Apr 07, 2021, 10:16 PM UTC

Now I feel like an idiot for donating to the Signal Foundation. This is the worst kind of scope creep when it comes to the goals of maintaining usability and privacy.

Re: Et Tu, Signal?

#389

Post by crtasm » Wed, Apr 07, 2021, 10:22 PM UTC

Y-bar wrote: post #103

vodkapump wrote: post #66

Earlier quoted context omitted.

> easy backup when you get a new phone I just recently got a new phone, and used the new feature to do this (uses wi-fi direct) and I have to say it seemed like it would be easy enough for non-techy users to use.

My phone needed to be factory reset, where was my backup to restore from without purchasing a second phone?

I only just got this set up, but you can point the automatic backups to your SD card on Android. I guess some cloud sync app could pick it up from there or internal storage.

Re: Et Tu, Signal?

#390

Post by alexnewman » Wed, Apr 07, 2021, 10:30 PM UTC

driverdan wrote: post #327

josh2600 wrote: post #275

Good Morning, I am the CEO of MobileCoin. A few points: 1) I started MobileCoin to fund Signal. That’s it. I believe that a world with a well-funded signal is a better place. In order for signal to compete in the 21st century with messaging apps around the world they need a payment story. MobileCoin is the only thing ever built that is both privacy protecting and fast that meets the standards of data retention signal…

> In order for signal to compete in the 21st century with messaging apps around the world they need a payment story. What is a "payment story" and why do messaging apps need it? Signal should be secure SMS with a better UI, nothing more.

I believe many apps are currently implementing this.