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1. MobileCoin premines 250m coins 2. Moxie is paid for being on their board 3. Moxie directs non-profit Signal to integrate MobileCoin 4. MobileCoin offers 5

by lrvick 3y ago

1. MobileCoin premines 250m coins 2. Moxie is paid for being on their board 3. Moxie directs non-profit Signal to integrate MobileCoin 4. MobileCoin offers 50% of their premine for sale. 5. Signal/Mobilecoin news spikes price to $60 6. Moxie steps down as CEO of Signal but remains on board 7. Mobilecoin price today is $0.09 8. Moxie is no longer involved at Signal This is why we need decentralization.

flooow 3y ago
> This is why we need decentralization. That's an interesting interpretation. I read it as 'all cryptocurrencies are scams'.
- lrvick 3y ago
  Not all cryptocurrencies are scams, not all traffic on Tor is CSAM, and not matrix messages are spam. Some of us use all of these decentralized systems daily for their actual intended use cases of sovereignty and privacy. Things like money and messaging are too important to a functioning society to allow any single party to control. We need -actually- decentralized money and -actually- decentralized communication. MobileCoin and Signal are neither and the results are predictable.
  - theamk 3y ago
    That's why there is no single party to control communication, and even for money there is US vs EU systems. "Actually decentralized" has a lot of problems, especially with things like spam and scams (see also: usenet). Federation makes sure no single party has too much power, and yet allows one to have usable systems.
  - bdjsiqoocwk 3y ago
    [flagged]
    - lrvick 3y ago
      So is the paper money in your pocket people historically traded in their gold for. Gold is objectively more inflation resistant and useful, but the paper gold certificates fit in a wallet better. Society made a convenience tradeoff. One day the US government arbitrarily decided to not allow gold trade-ins anymore, but we had all learned to assign psychological value to this worthless paper by then and carried on anyway. Remember it is not a scam if a government does it. Money is all fake. It is a shared delusion. If we must use "worthless" money for practical reasons, would you prefer the rate of production be set by predictable math or by whatever politicians are in power this year?
  - omnimus 3y ago
    Cryptocurrencies are securities not money. Unless you have force (army) that enforces your money you will not have money.
    - lrvick 3y ago
      Well I have clients that pay me in cryptocurrencies monthly, and I pay for goods and services with them regularly without Visa or Mastercard learning my purchasing behavior to sell to advertisers. Sure cryptocurrency is not as widely accepted online or in person locally as US dollars, but it is far easier to spend those same places than my Euros which actually meets your definition of money.
      - omnimus 3y ago
        People will trade with amazon gift cards or weighted gold. The fact something has value and people will exchange it is not what makes thing money.
        lrvick 3y ago
        money /mŭn′ē/ noun A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.
      - calciphus 3y ago
        Surely if you're concerned about privacy, an indelible public record of all transactions you made in and out isn't the way to accomplish that?
- blitzar 3y ago
  If 'all cryptocurrencies are scams' then those that staff their boards are scammers.
  - flooow 3y ago
    Agree
- deleted 3y ago
  [deleted]
sdwr 3y ago
I remember watching a conference video featuring Moxie - he was the golden child, and there was an older guy saying "We've been doing cryptography for so long... how do we get paid?" Sounded very much like a inner circle backroom deal kind of moment. Guess they figured it out!
reducesuffering 3y ago
I can’t imagine many people less interested in $, that could make boatloads of it, than Moxie. Dude would rather weld, help society cryptographically, and enjoy life with friends than be the billionaire founder he obviously could be.

by lrvick 3y ago

flooow 3y ago

> This is why we need decentralization. That's an interesting interpretation. I read it as 'all cryptocurrencies are scams'.

lrvick 3y ago
Not all cryptocurrencies are scams, not all traffic on Tor is CSAM, and not matrix messages are spam. Some of us use all of these decentralized systems daily for their actual intended use cases of sovereignty and privacy. Things like money and messaging are too important to a functioning society to allow any single party to control. We need -actually- decentralized money and -actually- decentralized communication. MobileCoin and Signal are neither and the results are predictable.
- theamk 3y ago
  That's why there is no single party to control communication, and even for money there is US vs EU systems. "Actually decentralized" has a lot of problems, especially with things like spam and scams (see also: usenet). Federation makes sure no single party has too much power, and yet allows one to have usable systems.
- bdjsiqoocwk 3y ago
  [flagged]
  - lrvick 3y ago
    So is the paper money in your pocket people historically traded in their gold for. Gold is objectively more inflation resistant and useful, but the paper gold certificates fit in a wallet better. Society made a convenience tradeoff. One day the US government arbitrarily decided to not allow gold trade-ins anymore, but we had all learned to assign psychological value to this worthless paper by then and carried on anyway. Remember it is not a scam if a government does it. Money is all fake. It is a shared delusion. If we must use "worthless" money for practical reasons, would you prefer the rate of production be set by predictable math or by whatever politicians are in power this year?
- omnimus 3y ago
  Cryptocurrencies are securities not money. Unless you have force (army) that enforces your money you will not have money.
  - lrvick 3y ago
    Well I have clients that pay me in cryptocurrencies monthly, and I pay for goods and services with them regularly without Visa or Mastercard learning my purchasing behavior to sell to advertisers. Sure cryptocurrency is not as widely accepted online or in person locally as US dollars, but it is far easier to spend those same places than my Euros which actually meets your definition of money.
    - omnimus 3y ago
      People will trade with amazon gift cards or weighted gold. The fact something has value and people will exchange it is not what makes thing money.
      - lrvick 3y ago
        money /mŭn′ē/ noun A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.
    - calciphus 3y ago
      Surely if you're concerned about privacy, an indelible public record of all transactions you made in and out isn't the way to accomplish that?
blitzar 3y ago
If 'all cryptocurrencies are scams' then those that staff their boards are scammers.
- flooow 3y ago
  Agree
deleted 3y ago
[deleted]

sdwr 3y ago

I remember watching a conference video featuring Moxie - he was the golden child, and there was an older guy saying "We've been doing cryptography for so long... how do we get paid?" Sounded very much like a inner circle backroom deal kind of moment. Guess they figured it out!

reducesuffering 3y ago

I can’t imagine many people less interested in $, that could make boatloads of it, than Moxie. Dude would rather weld, help society cryptographically, and enjoy life with friends than be the billionaire founder he obviously could be.