Signal posted an update about the new cryptocurrency payment stuff.

My opinion is still pretty much the same. I'm not freaking out and calling them names, but taking on a project of this scale when they still have so much work to do on their original scope of messaging (like decoupling from phone numbers for one) does not seem like a smart idea. And the point about inviting regulatory and legal scrutiny still stands.


Does Signal really want to become the preferred way for paying for drugs and guns? That's not a good look to politicians and government bureaucrats, especially those who are clueless about technology, much less cryptography.

@be they risk "poking the bear" just as the whole EU (and its neighbours) debate how much encryption/privacy is desirable for citizens to have (and when there are genuine nasty crimes going on via some services (eg: Encrochat). Also telephone numbers (a finite public resource) are the property of each countries Communications Ministry, so govts tend to have a sense of entitlement about what they can be used for.

@be Integrating a cryptocurrency is high stakes, and could well be their undoing.

If they succeed then they effectively become a bank - i.e. a global method of payment. But not a bank which is auditable.

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