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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

#461

Post by tsimionescu »

Klonoar wrote: post #408
freeone3000 wrote: post #404

Earlier quoted context omitted.

It's literally a quid pro quo? What conspiracy theory do you need here?

I don't see how it's a quid pro quo for someone like Moxie, with his background, to advise a project for years and then work with them to integrate it given the alignment with regards to privacy initiatives. I find it conspiracy-theory in nature to assume otherwise; I think it could've been handled better from a server source code side but I don't really see why this has to be an assumed bad faith thing.

It's quid pro quo to include an obscure scam coin out of the blue into an entirely unrelated product, with a public promise from the scam club owners to donate their money to your business. The fact the the owner of signal had already been associated with MobileCoin for a long time makes it worse, not better.

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

#462

Post by chaps »

josh2600 wrote: post #441
hiq wrote: post #164

Earlier quoted context omitted.

Hi, I still have to read the docs more thoroughly, but given that these HN threads die out quickly, I'd rather ask now that I have the chance, so forgive me if some of these are answered in the docs: 1. how does MobileCoin make money? 2. how many coins do you / does MobileCoin own? 3. related to that, are there mechanisms in place to prove that this is not a pump and dump? Or simply, how do I know it's not one and it…

1) MobileCoin will build a payments ecosystem around the protocol. 2) I have to check with the lawyers on whether we can disclose exact amounts, but our intention is to own a small minority of coins over the long term. We want the supply to circulate. 3) I don’t know how to prove this other than to tell you that MobileCoin is here to stay. You’ll know us by our deeds. 4) the threat model is 100% of nodes being compro…

Do you feel bad for having a direct part in ruining signal?

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

#463

Post by ajkdhcb2 »

Putting people's privacy in danger with fake privacy coins is a devastating error. Mobilecoin is a scam. The only private cryptocurrency that works is Monero. I now can only believe Signal has sick motives or is a honeypot. Extremely sad since I even convinced my family to use it but now I will turn away.

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

#464

Post by TylerE »

sequoia wrote: post #449
luma wrote: post #338

Earlier quoted context omitted.

I love IRC but saying the IRC protocol does anything well (or is even a documented and agreed-upon protocol) is a bit of a stretch. Otherwise, agree with the thrust of your statement. I believe getting Signal into the hands of more users is an overall net good and if stickers are the answer then get to making some stickers.

Haha yeah I never did learn all about modes and had to google commands or go to the mod channel and ask for help not infrequently, but irc does get held up as an example of “a simple and perfectly decent tool” and my point is that being simple and perfectly OK is not enough, it needs to also be user friendly and accessible to the lay person. I think we’re violently agreeing.

IRC was simple and decent 20 years ago. Not today. Or even 10 years ago. The world has moved (very very far) on.

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

#466

Post by arthurcolle »

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…

Do you associate fiat money with "scam" as well?

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

#467

Post by hanniabu »

sequoia wrote: post #460
JeremyNT wrote: post #346

Earlier quoted context omitted.

This kind of anti-feature is not what I signed up for. I just wanted a secure messenger normal users could understand! It seems like a simple enough problem that Signal solved well (apart from the phone number requirement). Sadly, now it feels like Signal was just a long game trojan for Marlinspike to onboard users to a cryptocurrency pyramid scheme. This has nothing to do with its core functionality and it makes me…

> This kind of anti-feature is not what I signed up for. At the risk of sounding like a Signal simp: don’t use this feature if you’d don’t like it? I have no idea whether this is a good or bad idea, I figure the proof of the pudding is in the tasting and I haven’t had a chance to try the signal payments feature, but I’m willing to extend the benefit of the doubt here at least as far as “I’ll withhold judgement til I…

It's the fact that many much needed improvements to their core offering are not being taken care of and instead they've gone and done this, which nobody asked for and puts the operation at risk. Not to mention that they integrated a premine scam coin over a proven leader like Monero. Sadly it seems the Signal team has sold out. Really hope their payout for this move was worth it.

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

#468

Post by AfouToPatisa »

selsta wrote: post #264
AfouToPatisa wrote: post #182

Earlier quoted context omitted.

Multiple reasons why MOB over monero but I will state only the most practical one, using the stellar consensus a tx takes 3-5sec. With monero that's more like 1-2mins if Im not mistaken which is a big no-no for the usecase of instant mobile private payments. Fees are also super low w/ mob (0.01) TLDR: UX

XMR transaction can show up instantly once they are in the mempool, a user does not have to wait for a confirmation to see a transaction. Obviously there are uses where you want to wait for confirmations, but for the use case of sending money to friends it isn't necessary. Fees are also in a similar range (0.01).

Using 0-conf is restricting usage to "friends only" which is a tiny subset of who you may want to send money too so I think you've already answered this.

Also moxie replied in his twitter about why not monero stating they wanted a "non custodial" integration, not sure what he means but you can ask him.

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

#469

Post by AlexCoventry »

codethief wrote: post #183
AfouToPatisa wrote: post #149

Earlier quoted context omitted.

Even if an SGX attack does take place, tx's aren't recognized as the system is secured with Cryptonote's ring signatures (1st reply in FAQ https://github.com/mobilecoinfoundation/mobilecoin ) here too about 11mins in - https://www.youtube.com/watch?v=e9afDQ_M5CU

The problem is: Signal already relies on SGX for lots of other features (Signal PINs & Secure Value Recovery, contact discovery etc. etc.) and these depend on SGX working as advertized.

I wasn't aware that Signal relies on SGX. If I want to use Signal without being exposed to risk of SGX compromise, is it still possible?

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

#470

Post by cookiengineer »

cdogl wrote: post #302

Long-time Signal user here, with a number of technical and non-technical friends, colleagues and acquaintances who also use it. I don't know who was asking for this. And I think it really dilutes Signal's message. I believe that everyone has a fundamental right to secure, private communication. Some people may hold the same belief for the right to transfer funds. I don't agree and I suspect many others feel the same.…

I'm curious: why did you choose Signal when you care about privacy?
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