Signal adds a payments feature with a privacy-focused cryptocurrency

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josh2600 ◴[06 Apr 21 16:28 UTC] No.26713883[source]▶

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 a while to come back.

The best set of docs for how the whole thing fits together is our book "The Mechanics of MobileCoin"[0].

We'll be around here and on our forums [1] to answer questions. Please also check out our foundation website[2]. The github[3] is also a lot of fun, especially the section on Fog[4].

[0]https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/maste...

[1]https://community.mobilecoin.foundation

[2]https://mobilecoin.foundation

[3]https://github.com/mobilecoinfoundation/mobilecoin

[4]https://github.com/mobilecoinfoundation/fog

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CynicusRex ◴[06 Apr 21 20:41 UTC] No.26717141[source]▶

>>26713883 #

Can late MobileCoin adopters buy the same amount of coin for the same price as early adopters or is it a multi-level marketing pyramid scheme like the rest of the crypto“currency” greed and spam inducing cesspool?

https://www.cynicusrex.com/file/cryptocultscience.html

replies(1): >>26717541 #

1. troquerre ◴[06 Apr 21 21:21 UTC] No.26717541[source]▶

>>26717141 #

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 because the new information gets priced in.

replies(2): >>26717716 #>>26719251 #

2. CynicusRex ◴[06 Apr 21 21:40 UTC] No.26717716[source]▶

>>26717541 (TP) #

>“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.

replies(2): >>26718333 #>>26723495 #

3. gsich ◴[06 Apr 21 22:46 UTC] No.26718333[source]▶

>>26717716 #

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

replies(1): >>26721350 #

4. justapassenger ◴[07 Apr 21 00:46 UTC] No.26719251[source]▶

>>26717541 (TP) #

> 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.

Other way of saying it, is that early participants in a pyramid scheme don’t have guarantees that they’ll find enough people for the scheme to be successful.

5. sudosysgen ◴[07 Apr 21 07:09 UTC] No.26721350{3}[source]▶

>>26718333 #

Not when you know beforehand that it will be implemented into signal :)

replies(1): >>26722800 #

6. gsich ◴[07 Apr 21 10:26 UTC] No.26722800{4}[source]▶

>>26721350 #

True, but in general.

7. xorcist ◴[07 Apr 21 11:52 UTC] No.26723495[source]▶

>>26717716 #

While I agree with the sentiment, that part is just the time-value of money.

The same is true for stocks, gold, and pretty much anything else you can invest in.

In retrospect it would have been a good deal to buy AAPL for $1.50 in 2005, but what can you do. That doesn't make Apple a ponzi scheme.

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