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I don't understand what all the all fuss about. How much money people have really that you need 100 payment apps to send money on top of existing banks? I jus

I don't understand what all the all fuss about. How much money people have really that you need 100 payment apps to send money on top of existing banks? I just wise/transferwise for overseas transfer other than that my bank. You think I am poor minority and don't care about payment drama?

PragmaticPulp 6y ago
It’s not really about payments. The scam is to create a new altcoin, give most of the altcoin supply to the founders, then try to force as many people as possible to use the altcoin by deploying it as part of something popular like Signal. Now if anyone wants to use Signal’s money transfer feature, they have to buy MOB. The CEO of MobileCoin was in the threads yesterday pushing the website where they were selling MOB. They don’t really care about transferring money. They just want to sell MobileCoin and pump up the price by making it look useful.
- kjjjjjjjjjjjjjj 6y ago
  Yes exactly this is just another ICO-like pump and dump. There is absolutely no reason to not use Ethereum for this, or at worst ERC-20 coin.
- ElectricMind 6y ago
  I understand what you saying it is indeed scam. But my question can I use Signal just to chat with my friends/family and ignore everything else and live my life peacefully? In other words, are they forcing every user to use this "MOB" to transfer money for something? If not, then we can ignore them :)
- piffey 6y ago
  Can't you just shape that as any founder creating something though? Like oh, they own 50% of the company with their co-founder, then just grow it over 10 years to 100M ARR, then sell it to private equity to make a profit! Can you believe it? If their implementation of a secure, fast, mobile cryptocurrency works and is accepted mainstream as a way to send money anonymously and securely then why shouldn't they make a dime off it? They'll have to sell their shares eventually. Everyone always does. Don't get the hate here. I'll likely never use it, but they're trying something, and if it works let them get paid for it.
  - yunohn 6y ago
    Cryptocoins (like MobCoin) are a non-fungible token for facilitating payments. Usually the other companies you mention offer a useful/unique value that is not just being a forced middle-man.

PragmaticPulp 6y ago

It’s not really about payments. The scam is to create a new altcoin, give most of the altcoin supply to the founders, then try to force as many people as possible to use the altcoin by deploying it as part of something popular like Signal. Now if anyone wants to use Signal’s money transfer feature, they have to buy MOB. The CEO of MobileCoin was in the threads yesterday pushing the website where they were selling MOB. They don’t really care about transferring money. They just want to sell MobileCoin and pump up the price by making it look useful.

kjjjjjjjjjjjjjj 6y ago
Yes exactly this is just another ICO-like pump and dump. There is absolutely no reason to not use Ethereum for this, or at worst ERC-20 coin.
ElectricMind 6y ago
I understand what you saying it is indeed scam. But my question can I use Signal just to chat with my friends/family and ignore everything else and live my life peacefully? In other words, are they forcing every user to use this "MOB" to transfer money for something? If not, then we can ignore them :)
piffey 6y ago
Can't you just shape that as any founder creating something though? Like oh, they own 50% of the company with their co-founder, then just grow it over 10 years to 100M ARR, then sell it to private equity to make a profit! Can you believe it? If their implementation of a secure, fast, mobile cryptocurrency works and is accepted mainstream as a way to send money anonymously and securely then why shouldn't they make a dime off it? They'll have to sell their shares eventually. Everyone always does. Don't get the hate here. I'll likely never use it, but they're trying something, and if it works let them get paid for it.
- yunohn 6y ago
  Cryptocoins (like MobCoin) are a non-fungible token for facilitating payments. Usually the other companies you mention offer a useful/unique value that is not just being a forced middle-man.