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Mobilecoin doesn’t use mining

Their stated design goal was to create an actual usable payments system; not a speculative asset .

Edit : Urrgh got that wrong . Fixed distribution of coins and yes the founders control most of them

The problem is that it's still a taxable asset and therefore gives the authorities a legitimate reason to look into people's Signal data.

Any privacy protections for speech are unlikely to apply to financial transactions anywhere in the world.

This is a disastrous mistake.