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 $14B already. This makes the project a scam and impossible for it to work as a reliable money that holds value. Bitcoin had no pre-mine and has been fairly distributed from the start.
look at the chart:
https://coinmarketcap.com/currencies/mobilecoin/the integration with signal made the valuation of mobilecoint jump from around zero to 65$. I hope the signal team got some mobilecoins in return for the favor.
It was $6 two weeks ago. Still a big jump but hardly “zero”.
my initial thought was: why didn't they choose monero (another coin that is privacy-focused but sort of more established). However monero is already much higher than that mark, in its valuation.