Understanding the Initial User Sentiment
Signal, the messenger app prioritizing privacy, recently received feedback from users in the UK following its beta launch of payments integration with MobileCoin’s MOB token. Spoiler alert: it’s not all rainbows and butterflies. In a blog post by Jun Harada, Signal’s Head of Growth, the feedback revealed a common theme: users are not entirely thrilled about this whole cryptocurrency thing. One user lamented, “cryptocurrency is the worst,” leading Harada to clarify that using MOB is purely optional—thankfully for those who prefer cash under the mattress.
The Financial Grumbles: High Fees
What’s worse than getting soggy fries with your burger? User complaints about fees, that’s what. The top grumble? The transaction fees associated with MobileCoin, currently sitting at around 50p (about $0.60). Harada himself remarked on how this might be a bit high for casually splitting the bill for pizza. But don’t worry; Signal is working hard to bring those pesky fees down. Maybe they’ll be converted into “pizza savings” someday!
The Trouble with Transactions
Now, if you think sending money should be as easy as sending a meme, think again. Users have expressed frustration over the cumbersome process of moving money to and from exchanges that support MobileCoin. Currently, UK users have to wire transfer their money, enduring additional fees on top of Signal’s own. It’s like going to a restaurant and finding out they charge you a service fee for giving you the menu.
The Dreaded Price Rollercoaster
Oh, the thrill (and chill) of cryptocurrency price volatility! With MOB’s price fluctuations causing distress among users, it’s no wonder they’re feeling anxious. Launched in December 2020, this token has found itself in something of a financial Bermuda triangle, trading primarily on FTX with a daily volume of around $20 million. Just a few days ago, MOB soared to an all-time high of $69 before coming crashing down to about $40. Timmy, don’t get too excited about your crypto fortune. These rollercoasters are known to make you dizzy!
Signal’s Relationship with MobileCoin
As if the complaints weren’t enough, the murmurs regarding Signal’s connection to MobileCoin have started creating quite the buzz. With Moxie Marlinspike’s name popping up in the lore of MobileCoin’s inception, some community members have hurled accusations of “shitcoin” integrations. To clarify, MobileCoin CEO Joshua Goldbard insisted Marlinspike served only as a “technical advisor,” hardly the villain some have imagined. Let’s not judge the cryptocurrency world too harshly—there’s a lot of quirky fictional drama already!
