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Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)
544 points josh2600 | 2 comments | 06 Apr 21 16:23 UTC | HN request time: 0s | source
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meowfly ◴[06 Apr 21 21:24 UTC] No.26717573[source]▶
The comment from the article echos my own sentiments:

> Speaking solely as a person who is really into encrypted messaging, it terrifies me that they're going to take this really clean story of an encrypted messenger and mix it up with the nightmare of laws and regulations and vulnerability that is cryptocurrency.

Moreover, there are three other points I'd add:

1. I don't like "do everything" apps like WeChat or Line. One of Signals strengths was UX that focused on it's core competency. Early in Signal's development they would add privacy features. Lately they have been adding social features. This, however, feels especially out of left field and likely to hurt the UX.

2. This smells like dev resources will be spent building and maintaining something not related to messaging.

3. I've always had a "don't let perfect be the enemy of good" rationalization that gives Signal autonomy to grow a privacy centric messaging app despite the deficits (e.g lack of federation). In contrast, I personally associate "crypto" with "scam". There have been so many shady ICOs and pump-dump schemes around crypto. This will taint the product for those of us who don't think of crypto currency as being anything more than pump-and-dump schemes and a way to buy dab rigs online.

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cyphermoon ◴[07 Apr 21 08:22 UTC] No.26721814[source]▶
The "scam" is using payment systems that allow their owners, controllers, or just hackers to spy on every single transaction on earth, accessing all your past present and future economical activity on demand. Not even the worst dictatorships of centuries past ever dreamt of such awareness and control.

The promotion of pseudonymous and anonymous digital payment systems such as cryptocurrencies is vital to a healthy and functioning society.

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1. antiphase ◴[07 Apr 21 16:41 UTC] No.26727380[source]▶
I can't really see how a craptocurrency attached to a messenger provides any sort of pseudonymity. If I can send money to you, I can later identify you in a ledger, which simply means I need to find some reason to converse with you and it's game over. If the ledger isn't public, you're back under corporate or Government control.
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2. cyphermoon ◴[08 Apr 21 07:18 UTC] No.26735983[source]▶
Signal does not require KYC, so there is no direct link there. As far as public ledgers are concerned, pseudonymous activity offers reasonable privacy controls as long as you know what you are doing.

There are also entirely anonymous cryptocurrencies with no readable public ledgers. Everything is still decentralised, no centralised control of any kind, but you can't see what people are doing (Monero and Zcash being good examples. Signal uses Mobilecoin, which still needs to stand the test of time).

There is still a long road to go before there is a fool proof anonymous, liquid, consumer friendly, usable cryptocurrency, but it is the last bastion of defense against complete total state and corporate surveillance. - One of the greatest threats to human life, on par with climate change.

Your use of the word "craptocurrency" is rather childish and naive. Eventually you will take a closer look at the situation and reconsider. Good luck

I will leave this https://www.theengineroom.org/dangerous-data-the-role-of-dat...