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Why does this matter? If signal had integrated any normal payment firm, and moxie had an economic stake in it, that would be seen as no issue - and quite typica
by seibelj 6y ago
Why does this matter? If signal had integrated any normal payment firm, and moxie had an economic stake in it, that would be seen as no issue - and quite typical for business in all industries. But because it’s crypto it’s a scandal (?)
- deleted 6y ago[deleted]
- gruez 6y agoPaypal doesn't have a premine
- seibelj 6y agoBut if I own two companies, and make one of them integrate with the other, and I own “coins” in both of them (shares), what’s the difference?
- gruez 6y agoThe difference is that paypal's shares (if you call it a premine) isn't necessary to use it. You just pay a fee relative to how much you transfer. If the company goes under, there's no harm to you.
- seibelj 6y agoBut no one is making you use signal, and the app is free, and this feature is opt-in. Still not seeing much of a conflict of interest. This guy owns signal, he can do what he wants, or so I thought a free market worked (?)
- austhrow743 6y agoAnd what? Users aren’t allowed to discuss and make decisions on what products they use in a free market?
- seibelj 6y agoThat's fine - my commentary is that this is not a scandal, though many on HN feel scandalized.
- wahern 6y agoThe guy doesn't own Signal. Signal is funded and released by Signal Technology Foundation, non-profit; either directly or indirectly through it's subsidiary[1], Signal Messenger, LLC. (Both registered in Delaware.) That means there's much more likely a legally cognizable conflict of interest if Signal is being used as a vehicle for self-enrichment. And flouting rules against such self-dealing provides greater than normal reason to distrust the security of Signal. But that's all predicated on the existence of self-dealing. [1] The Wikipedia page, https://en.wikipedia.org/wiki/Signal_Foundation https://en.wikipedia.org/wiki/Signal_Foundation, claims Signal Messenger, LLC is a subsidiary. There's no source provided, AFAICT, nor can I find one, for that claim. But Android says Signal is published by "Signal Foundation", and Moxie seems to be the head of both, so for our purposes--trustworthiness--the distinction is mostly irrelevant.
- space_rock 6y agoBecause MobileCoin is a scam and people want to know if this guy is naive or a scammer
- yumraj 6y agoWhy is MobileCoin a scam? Please elaborate. I’m assuming your content is specific to MobileCoin and not about all cryptos in general..
- fsociety 6y agoPrivately sold 15% of their supply for 80 cents, they are currently selling the remaining supply for around ~$60 today on their site - was 85% of supply now is allegedly around 50%. Moxie was the CTO for MobileCoin according to their first white paper, they deny it saying they didn’t write the paper or something. Signal stopped releasing updates to their server to keep this integration secret, until it was ready to be released. MobileCoin doesn’t allow purchasing or ownership in the US because they’d be considered a security and scrutinized for potential market manipulation. No point in putting up with the above, regardless of the truth, when you have many more legitimate looking cryptocurrencies one can support.
- someguydave 6y agoThis is a major blow to Moxie's credibility and Signal's reputation.
- kerng 6y agoAgreed. Extremly disappointed. Before donating money ever again to Signal, I want to see prioritize (maybe vote on some proposed features, etc...) to understand what's coming up and what I'm supporting
- moralestapia 6y agoNot the first time Moxie does something "questionable", to put it lightly ...
- justapassenger 6y agoIt’s because of lack of transparency and lack of answers to key questions. Most people would have no problems if questions about financial connections and actual underlying business were answered openly.