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Signal adds a payments feature with a privacy-focused cryptocurrency

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544 points josh2600 | 2 comments | 06 Apr 21 16:23 UTC | HN request time: 0.669s | source
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Geee ◴[06 Apr 21 18:14 UTC] No.26715348[source]▶
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.
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lottin ◴[06 Apr 21 20:56 UTC] No.26717289[source]▶
Bitcoin rates worse than North Korea in terms of wealth distribution as measured by the Gini coefficient. [1]

[1] https://blog.dshr.org/2018/10/gini-coefficients-of-cryptocur...

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modeless ◴[06 Apr 21 22:12 UTC] No.26718008[source]▶
All calculations of this sort are fatally flawed because they assume all the coins in one address are owned by one person. That would be like calculating the US Gini coefficient assuming that all bank accounts are owned by the CEO of the bank.
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1. atweiden ◴[07 Apr 21 03:42 UTC] No.26720362[source]▶
> All calculations of this sort are fatally flawed because they assume all the coins in one address are owned by one person.

But don’t the calculations equally assume coins spread out across multiple addresses aren’t owned by one person, when in fact they often are?

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2. modeless ◴[07 Apr 21 04:15 UTC] No.26720535[source]▶
Sure but that doesn't offset the first problem, it's just an additional problem. In fact I believe it could move the fake Gini coefficient in either direction depending on how each person splits their money.