MobileCoin has raised $30M for private mobile payments • Hacker News Board

Re: MobileCoin has raised $30M for private mobile payments

#51

Post by anubisresources » Wed, Apr 25, 2018, 3:20 PM UTC

gataca wrote: post #8

rms wrote: post #6

Earlier quoted context omitted.

Pessimistically, they won't. Optimistically, they solve consumer micropayments by allowing the unbanked to send and store money via WhatsApp.

Ok, that makes a lot of sense for the unbanked. I personally don’t know many people who are unbanked but maybe that number will grow in the future? I’m just trying to think about explaining this to some friends and why they should do this. Totally anonymous/private transactions between parties not having to use a bank?

The bulk of those in Uganda are unbanked. Everyone here uses WhatsApp. Something like this would be a great way for me to pay contractors and domestic staff who right now only take cash.

Re: MobileCoin has raised $30M for private mobile payments

#52

Post by mrb » Wed, Apr 25, 2018, 4:18 PM UTC

moe wrote: post #42

mrb wrote: post #39

Earlier quoted context omitted.

« don't care if Moxie or god himself is the lead of the project » By this attitude, you would have failed to correctly value the potential of early Amazon (because "an online bookstore is not worth $X.") One of the core principles of YC is that the value of an early-stage company mostly depends on the founders, not the initial idea (as it can change.)

> potential of early Amazon Except this is not "early Amazon". This is someone promising to build a mini-Amazon on AWS.

Again, the initial idea—mini-Amazon or whatever—doesn't (really) matter. It will evolve. It will change. The company may pivot. The valuation reflects the potential of the founder's skills, relentlessness, overall vision, track record, etc.

Re: MobileCoin has raised $30M for private mobile payments

#53

Post by darpa_escapee » Wed, Apr 25, 2018, 4:43 PM UTC

anubisresources wrote: post #50

gataca wrote: post #4

Can someone explain why the average user would prefer this over using venmo?

I live in Uganda and something like this will be a great mobile money alternative. MTN and their ilk take a huge chunk of change for mobile money, and if this is cheap it’ll catch on very quickly here. It should also make paying domestic staff and various contractors easier, and that’ll be nice.

They'll still have to pay the gatekeepers if they want to convert their cryptocurrency into something liquid.

Re: MobileCoin has raised $30M for private mobile payments

#54

Post by anubisresources » Wed, Apr 25, 2018, 5:01 PM UTC

darpa_escapee wrote: post #53

anubisresources wrote: post #50

Earlier quoted context omitted.

I live in Uganda and something like this will be a great mobile money alternative. MTN and their ilk take a huge chunk of change for mobile money, and if this is cheap it’ll catch on very quickly here. It should also make paying domestic staff and various contractors easier, and that’ll be nice.

They'll still have to pay the gatekeepers if they want to convert their cryptocurrency into something liquid.

Of course. As long as gatekeeper fees are less than the 3% charged for mobile money it’s a win