Comment by temp667 | Hacker News Reader

Comment by temp667 | Hacker News Reader

The Signal Foundation is a nonprofit.

It would be an enormous conflict of interest if Moxie had a financial stake in MobileCoin, and then drove signal to adopt this random crap coin.

These guys keep on claiming just to be technical advisors with no financial interest or benefit from mobilecoin. BS.

Let's get some auditors into Moxies / Signal Foundation stuff, figure out how this decision was made, if signal foundation received fair value for pushing their users this way etc etc.

I got voted down before for saying this, but will keep on saying it. You can't use a charity and then leverage that charitys assets to enrich yourself outside of the charity.

What's interesting is despite all the claims of "trust" and "security" vs using google etc these guys turn out to be what appears to be scammers.

I've uninstalled signal - you should too.

> The Signal Foundation is a nonprofit.

Signal Messenger LLC isn't.

"Signal Messenger LLC. was founded simultaneously with the Signal Technology Foundation and operates as its subsidiary. Its CEO is Moxie Marlinspike and it is responsible for the development of the Signal messaging app and the Signal Protocol."

https://en.wikipedia.org/wiki/Signal_Foundation

That's not how this works at all.

These single member LLC's are considered disregarded entities in most cases. Many nonprofits use LLC's to own property, do app development etc for liability reasons. That doesn't obviate their need to act in a manner consistent with their parent entities objectives and public purpose.

You claim to be judge, jury and executioner in one. I agree it all looks odd, but I can also see why no other integration might easily work. Would be good to dig for any possible issues but it might well be that that they write is actually the real set of reasons. I won't leave signal anytime soon both 1) because I see weirdness but no proof of wrongdoing and 2) because there is literally no better alternative.

Strongly agreed. And Moxie has not denied being paid in stocks or stock options for his "technical advisor" position. But even if he was just paid in cash it would still be a conflict of interest. If MobileCoin needed him a a technical advisor they should have paid the Signal Foundation a consultancy fee for Moxie's time, not Moxie himself.To an outsider it looks very much like he used a donation funded foundation to enrich himself.

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