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Signal's Crypto Payments Are A Big Mistake

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163 163 views
3m Apr 9, 2021
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The Signal chat app has decided to develop a private payment system behind closed doors but rather than doing crypto payments with a well established privacy coin like Zcash or Monero they've instead gone with MobileCoin a coin that has onlt existed for 4 months publically.

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==========Resources==========
Mobile Coin Thread: https://www.reddit.com/r/signal/comments/mm6nad/bought_mobilecoin_you_might_have_been_scammed_375/
White Paper: https://web.archive.org/web/20171215230522/https://www.mobilecoin.com/whitepaper-en.pdf
Technical Document: https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/master/Mechanics-of-MobileCoin-v0-0-39-preview-10-11.pdf
Seth Simmons Thread: https://twitter.com/sethisimmons/status/1379791201558278144
Cake Wallet Test: https://twitter.com/_geonic/status/1379879117961629699
Mining: https://www.reddit.com/r/mobilecoin/comments/l5wjox/is_it_currently_possible_for_individuals_to_mine/
Bruce Schneier Blog: https://www.schneier.com/blog/archives/2021/04/wtf-signal-adds-cryptocurrency-support.html
Telegram Coin: https://www.theverge.com/2020/5/12/21256407/telegram-cryptocurrency-shutdown-sec-gram
Terms Of Use: https://github.com/mobilecoinfoundation/mobilecoin/blob/master/TERMS-OF-USE.md
Signal Server Updates: https://github.com/signalapp/Signal-Android/issues/11101#issuecomment-798900367
Signal Android Updates: https://github.com/signalapp/Signal-Android/commit/fddba2906ab3437f253b85da91f3aa261733d5d2

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#Signal #BrodieRobertson #MobileCoin

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Table of Contents

Timecode Title
0:00 Introduction
1:31 Mobile Coin Whitepaper
8:17 Mobile Coin And Monero
9:50 Transactions
12:11 Regulation
14:15 Signals Questionable Open Source
16:33 Outro

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