Why would you want to backup chat messages? To me they are worthless at least after a few months.
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I’m personally very glad that Signal finally implemented this. It’s been such a short sighted strategy to promote itself like a mass market messaging platform while not allowing people to keep, move and restore memories.
Since it’s opt-in, those who don’t want it don’t have to use it. They’re well served by the self-destructing message timers in chats.