Signal adds a payments feature with a privacy-focused cryptocurrency

There are 250 million units of mobilecoin, and majority of them are owned by the founders. Only 37.5 million have been distributed. With current price ($65), they're worth $14B already. This makes the project a scam and impossible for it to work as a reliable money that holds value. Bitcoin had no pre-mine and has been fairly distributed from the start.

No “pre-mine” doesn't mean fairly distributed. Bitcoin is a multi-level marketing pyramid scheme as well. Early adopters mine or buy large proportions at negligible prices while late adopters mine or buy negligible proportions at large prices.

By this definition, every company stock is a multi-level marketing pyramid scheme.

In fact, company stock is WAY worse, because the majority of people are legally prohibited from investing in private companies unless they're an accredited investor (already rich). So, only rich people (other than founders and early employees) are allowed to buy in at super low prices before handing off the bag to the public.

This is incorrect. Stock represents actual ownership of a scarce resource (a company). That company would have value whether or not it was explicitly sold as a stock. The value doesn’t come from the stock.

Cryptocurrency removes the underlying asset and simply sells shares of artificial scarcity. It’s only as valuable as what people decide to trade it at, because it doesn’t represent ownership of anything other than itself.