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edit I should have prefaced my comment with the fact that I find it odd that people got caught by surprise when the inventor of a cryptographically focused mobi

by jerry1979 6y ago

edit I should have prefaced my comment with the fact that I find it odd that people got caught by surprise when the inventor of a cryptographically focused mobile messaging app integrated his cryptographically focused payment system which he unambiguously called mobile coin. Mobilecoin has the same design principles as Signal insofar as it uses sgx enclaves to do its crypto work. While I would not want to rely on enclaves to do crypto work, it seems to fit in Signal's wheelhouse. Also, on a speculative basis and assuming no colossal foul-ups, it appears to me that signal+mob want to distribute the mobile coins to artists and community groups. So, the marketing for mob will probably include their honest mission of having a green crypto that does good for the community.

PragmaticPulp 6y ago
> Also, on a speculative basis and assuming no colossal foul-ups, it appears to me that signal+mob want to distribute the mobile coins to artists and community groups. When the company holds 85% of the pre-mined coins, they’re looking for any excuse to distract from that fact. The claim that they might give some token amount to artists and communities in the future is a distraction. The CEO of MobileCoin was in HN threads yesterday spamming the link the site where you could buy MobileCoins directly from them. This is a clear as day pump and dump scheme. Don’t let yourself be distracted by hints of potential future charity. They could give those tokens to charities right now, but they won’t because they would just be sold off and push the price down. Instead they’re spreading claims of future donations so they can cash in on price appreciation without downward selling pressure. They only want people buying MobileCoin, not selling it. That’s the only way the founders get rich.
- jerry1979 6y ago
  I see this more as an interesting test of the "post-2000 wto protest" black-flag anarchist cohort. Will this particular "strange and radiant machine" make the world a better place?

PragmaticPulp 6y ago

> Also, on a speculative basis and assuming no colossal foul-ups, it appears to me that signal+mob want to distribute the mobile coins to artists and community groups. When the company holds 85% of the pre-mined coins, they’re looking for any excuse to distract from that fact. The claim that they might give some token amount to artists and communities in the future is a distraction. The CEO of MobileCoin was in HN threads yesterday spamming the link the site where you could buy MobileCoins directly from them. This is a clear as day pump and dump scheme. Don’t let yourself be distracted by hints of potential future charity. They could give those tokens to charities right now, but they won’t because they would just be sold off and push the price down. Instead they’re spreading claims of future donations so they can cash in on price appreciation without downward selling pressure. They only want people buying MobileCoin, not selling it. That’s the only way the founders get rich.

jerry1979 6y ago
I see this more as an interesting test of the "post-2000 wto protest" black-flag anarchist cohort. Will this particular "strange and radiant machine" make the world a better place?