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Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)
544 points josh2600 | 1 comments | 06 Apr 21 16:23 UTC | HN request time: 0.213s | source
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RL_Quine ◴[06 Apr 21 17:15 UTC] No.26714582[source]▶
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.

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CodeGlitch ◴[06 Apr 21 18:49 UTC] No.26715768[source]▶
With all due respect your comment seems to be coming from an extremely privileged position. In many parts of the world, people do not have the luxury of basic banking, where storing and sending money is fraught with risk due to corruption and a lack of infrastructure. Take a look at M-PESA [1] for a "last-gen" solution using SMS.

I think what Signal is doing with MOB is pretty important work for many non-western countries, and I wish them all the best.

[1] https://en.wikipedia.org/wiki/M-Pesa

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1. dan-robertson ◴[06 Apr 21 19:36 UTC] No.26716388[source]▶
Crypto currencies don’t really solve the problems with a lack of banking infrastructure. Usually people need some way to get actual physical cash (remember, we’re talking about places where people don’t really have access to modern banking systems, not places where most people have bank accounts and credit cards) in and out of the system. It’s a nice idea if everything magically happens in your digital system but I don’t think that can happen without a credible way to bootstrap it involving lots of moving physical cash first. I don’t think it’s credible to hope for third party exchanges or tiny local businesses to provide these services, and I also don’t think it is credible to expect people living in these underdeveloped places to take on the risk of price volatility in some random cryptocurrency.