10
Mobilecoin (lemmy.zip)
submitted 2 weeks ago* (last edited 2 weeks ago) by anonvurr@lemmy.zip to c/signal@lemmy.ml

Anybody have any experience with mobilecoin? What is the use case for it? Seems kind of pointless and a lot more tedious than just a bank transfer. Why does signal include crypto nonsense in their app (I like crypto, but just can't see any reason why it should be integrated in the app). I'm sad that signal does not have support for 3rd party open source clients that could remove such features. Why not add support for monero instead?

top 5 comments
sorted by: hot top controversial new old
[-] shortwavesurfer@lemmy.zip 8 points 2 weeks ago

Mobile coin is a useless fork of Monero. If they had any sense whatsoever, they would have just put a Monero wallet into the app instead of that crap.

[-] LWD@lemm.ee 2 points 2 weeks ago

I can't take any statements from you about Monero seriously: https://lemm.ee/comment/15410085

[-] LWD@lemm.ee 3 points 2 weeks ago

This is the most important thing I know about it, from an article that was first published in 2021, and last seen earlier this year.

Signal Founder May Have Been More Than a Tech Adviser to MobileCoin

Signal recently launched a beta integration of MobileCoin (MOB) for payments. Its price has jumped from $7 to over $55 in the past month, giving it a market cap of $13.75 billion.

Signal founder Moxie Marlinspike, whom MobileCoin previously described as a technical adviser, may have been more deeply involved in the cryptocurrency project.

An earlier, nearly identical white paper found online, which MobileCoin CEO Joshua Goldbard called "erroneous," lists Marlinspike as the project's original CTO.

https://web.archive.org/web/20210409220023/https://www.coindesk.com/signal-founder-may-have-been-more-than-tech-adviser-mobilecoin

[-] SweetCitrusBuzz@beehaw.org 3 points 2 weeks ago

I guess they thought it was more 'private' than a bank transfer

[-] Supernova1051@sh.itjust.works 3 points 1 week ago

What is the use case for it?

The same use case as any crypto - to use as currency and pay debts.

Seems kind of pointless and a lot more tedious than just a bank transfer.

The same can be said of every crypto which doesn't hit any kind of adoption.

Why does signal include crypto nonsense in their app (I like crypto, but just can’t see any reason why it should be integrated in the app)

It aligns with Signal's mission statement to "Protect free expression and enable secure global communication through open source privacy technology." [1]. The reason it was integrated into the app was to support crypto that was "easy to use". The same way cash provides privacy by not allowing third parties to see what you're doing, they believe(d) that enabling a privacy preserving crypto wallet would further "protect free expression".

I’m sad that signal does not have support for 3rd party open source clients that could remove such features.

It's not not enabled by default and makes up for (based on github commits and pulling a random number out of my ass based on my continue following of Signal's development) less than 1% of development work since it was introduced.

Why not add support for monero instead?

Monero did not meet the technical requirements that the Signal developers were looking for at the time. Signal has commented that they would consider adding other crypto, as long as it meets the technical requirements - which I don't have so can't source unfortunately.

[1] https://signalfoundation.org/en/

this post was submitted on 05 Dec 2024
10 points (100.0% liked)

The Signal messenger and protocol.

1690 readers
1 users here now

https://signal.org/

founded 4 years ago
MODERATORS