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Signal adds a payments feature with a privacy-focused cryptocurrency

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544 points josh2600 | 3 comments | 06 Apr 21 16:23 UTC | HN request time: 1.27s | source
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lrvick ◴[06 Apr 21 18:15 UTC] No.26715358[source]▶
Signal is still centrally controlled and compiled by a single entity and distributed only in an unsigned insecure form or in a signed/verified manner only if you give up your privacy to install with Google Play or the Apple store.

Those that only run open source software like myself have no secure way to run Signal short of compiling every release by hand which is impractical. Moxie has stated he will not support anyone but his team compiling or distributing Signal binaries so third party signed builds via privacy focused app stores like F-Droid are out. All builds must also use Signal centralized servers even though that centralizes TCP/IP metadata, etc.

Not to mention you need to show government ID to get a SIM to use the Signal wallet for said private currency/messenger in 200 countries.

Secondly having a decentralized currency whose servers can only run on Intel machines with Intel SGX is a very centralized supply chain as well.

A single supply chain attack on Intel microcode or related SGX updates could run malicious code and game over for the currency globally? A government that sees MobileCoin as a threat could make Intel do this.

With a SPOF on the supply chain of the only client people are expected to use and another SPOF on the only hardware enclave people are supposed to use for servers... decentralized is technically true but not used in the same way as most other projects that use that word.

I will keep an eye on this experiment though, because there are some unique ideas here which could have value should your trust anchors expand beyond Intel and Signal.

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ac29 ◴[06 Apr 21 21:29 UTC] No.26717623[source]▶
> Not to mention you need to show government ID to get a SIM to use the Signal wallet for said private currency/messenger in 200 countries.

There are less than 200 countries in total, unless you get very creative with states that are arent recognized more more than a handful of other countries, like Abkhazia or Transnistria.

You also dont need ID to buy SIM cards in the US, so I'm curious on how valid this assertion is.

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Klonoar ◴[06 Apr 21 23:21 UTC] No.26718576[source]▶
None of this particularly matters given that Signal is actively working on not requiring phone numbers.
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1. Mediterraneo10 ◴[06 Apr 21 23:29 UTC] No.26718647[source]▶
Signal is actively working on other identifiers than a phone number, but can you cite proof that no phone will be required at all? I got the impression that Signal will still require a phone number at signup to do SMS verification, and only then give you a way to provide non-phone-number identifiers to contacts.
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2. Klonoar ◴[06 Apr 21 23:41 UTC] No.26718750[source]▶
Eh, fair. I cannot cite proof, only note that every instance I've seen Signal promise this feature has been worded in a way that indicates no phone number would be required.

It is unfortunate that I don't see many from Signal on this forum, as it'd be nice if someone would just clarify this already considering the popularity of it as a feature request.

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3. pixxel ◴[07 Apr 21 08:05 UTC] No.26721710[source]▶
Not from Signal but the MobileCoin CEO posted this answer yesterday.

.....

>>The UK also has receiver verification. If I try to send to an account and it doesn't match the name I'm sending to, my bank will warn me. How do you stop impersonation?

A: Signal relies on phone numbers for identities. Other apps that integrate MobileCoin may have a higher threshold for identification.

.....

Reads to me like phone numbers are not going away.