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Signal adds a payments feature with a privacy-focused cryptocurrency

(www.wired.com)
544 points josh2600 | 1 comments | 06 Apr 21 16:23 UTC | HN request time: 0.216s | 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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MithrilTuxedo ◴[06 Apr 21 21:52 UTC] No.26717846[source]▶
Agreed. I was half expecting this was going to be using Monero, one of the more popular privacy-oriented cryptocurrencies I know of that's already being used.

E.g. the only cryptos I've seen people accepting on dark web markets are Bitcoin and Monero.

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akvadrako ◴[06 Apr 21 22:30 UTC] No.26718198[source]▶
Monero is clearly the most practical secure coin as evidenced by it's popularity on the darknet. But I think what MobileCoin offers is speed.
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hjek ◴[07 Apr 21 03:20 UTC] No.26720245[source]▶
And way less energy consumption, according to their website.
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1. stjohnswarts ◴[07 Apr 21 17:30 UTC] No.26728030[source]▶
There is no mining which is the big issue. The big issue with their plan is that they hold 85% of the outstanding coins, which at current rates makes them billionaires. No doubt they will liquidate it in chunks to move it from digital potential to cold hard cash.