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Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)
544 points josh2600 | 4 comments | 06 Apr 21 16:23 UTC | HN request time: 4.113s | source
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nickthemagicman ◴[06 Apr 21 21:22 UTC] No.26717549[source]▶
1. MobileCoin premines 250m coins

2. Moxie gets paid for being on their advisory board

3. Moxie directs his non-profit to integrate MobileCoin in secret

4. MobileCoin offers 1/5 of their premine for sale.

5. Signal announcement spikes price to $60

How accurate is this?

via: https://twitter.com/lrvick/status/1379536536459431937

replies(1): >>26717820 #
codethief ◴[06 Apr 21 21:50 UTC] No.26717820[source]▶
> 3. Moxie directs his non-profit to integrate MobileCoin in secret

The fact that Moxie is collaborating with MobileCoin has been known for years.

EDIT: See links in https://news.ycombinator.com/item?id=26718488

replies(1): >>26718643 #
1. hn8788 ◴[06 Apr 21 23:28 UTC] No.26718643[source]▶
But not the fact that it's going to be directly integrated into Signal. The CEO of MobileCoin is in here saying that he started it as a way to fund Signal, which from what I can tell, wasn't public knowledge until today. So he gets to monopolize a currency that was mostly worthless, knowing that it would be directly integrated into a popular application, greatly increasing its value. If that's not a scam, I don't know what is.
replies(2): >>26719318 #>>26728099 #
2. nullc ◴[07 Apr 21 00:55 UTC] No.26719318[source]▶
They also strongly de-emphasized any connection, saying he was only an advisor. Now it's paid CTO and that funding signal with it was the plan all along...

Super dishonest and untrustworthy.

replies(1): >>26720176 #
3. nullc ◴[07 Apr 21 03:10 UTC] No.26720176[source]▶
(... and also kept the server closed source for a year to conceal the integration, it appears)
4. codethief ◴[07 Apr 21 17:35 UTC] No.26728099[source]▶
> But not the fact that it's going to be directly integrated into Signal

To be honest, that was exactly the impression that I got back then. So to me, yesterday's announcement was no surprise at all. Whether I like it, is a different matter.