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Who ever said that it was better? No online wallets are secure, nobody should be using them, but unfortunately the bitcoin system is still a bit too complicate

Who ever said that it was better? No online wallets are secure, nobody should be using them, but unfortunately the bitcoin system is still a bit too complicated for a lot of people.

adrr 14y ago
This what i don't get. Banks can secure themselves, large e-commerce sites as well. Do any of these guys run Hardware security modules and use them to manage encryption of the keys?
- GigabyteCoin 14y ago
  Instawallet's only form of a login was a URL, which Google indexed 1,000s of just last week: http://www.adaptiveglass.com/?p=656 http://www.adaptiveglass.com/?p=656 Honestly, I am curious if the security researcher (who alerted them to this problem and then griped out lack of payment in the article) is the person responsible.
  - smtddr 14y ago
    Ya know, that blog you linked to - I don't like that he's upset he didn't get a reward for his good deed. He should be just happy to do a good deed, IMHO.
    - danielweber 14y ago
      Yeah, if you were expecting a reward, it's not a good deed. I informed some BTC places of security problems a few years ago, and was roundly ignored, although they put the fixes in place, from what I recall. I wasn't upset because I wasn't expecting anything. EDIT Reading that page . . . depending on a URL staying secret as your security? Wow, that is asking for disaster. I don't like to shame people who make security mistakes, but if you are online wallet vendor, shouldn't you have some common sense?
      - deleted 14y ago
        [deleted]
acebarry 14y ago
Instawallet always made it clear that no one should keep anything more than spare change there.
- GigabyteCoin 14y ago
  I don't think they said that on the homepage, they advertised themselves as a bitcoin wallet. They did say so at one time or another I believe, but that was long long ago.
- ams6110 14y ago
  Given the recent trends in Bitcoin values, yesterday's spare change was today's real money.
tlrobinson 14y ago
It's not that it's impossible to for online wallets to be secure, it's that most of the people implementing them are amateurs when it comes to security. The Bitcoin industry needs bank level security. They're doing some things right (most exchanges offer 2FA), but they've got a long ways to go.
- wmf 14y ago
  Nobody besides Gox is making enough money to afford real security AFAIK.

Who ever said that it was better? No online wallets are secure, nobody should be using them, but unfortunately the bitcoin system is still a bit too complicated for a lot of people.

adrr 14y ago

This what i don't get. Banks can secure themselves, large e-commerce sites as well. Do any of these guys run Hardware security modules and use them to manage encryption of the keys?

GigabyteCoin 14y ago
Instawallet's only form of a login was a URL, which Google indexed 1,000s of just last week: http://www.adaptiveglass.com/?p=656 http://www.adaptiveglass.com/?p=656 Honestly, I am curious if the security researcher (who alerted them to this problem and then griped out lack of payment in the article) is the person responsible.
- smtddr 14y ago
  Ya know, that blog you linked to - I don't like that he's upset he didn't get a reward for his good deed. He should be just happy to do a good deed, IMHO.
  - danielweber 14y ago
    Yeah, if you were expecting a reward, it's not a good deed. I informed some BTC places of security problems a few years ago, and was roundly ignored, although they put the fixes in place, from what I recall. I wasn't upset because I wasn't expecting anything. EDIT Reading that page . . . depending on a URL staying secret as your security? Wow, that is asking for disaster. I don't like to shame people who make security mistakes, but if you are online wallet vendor, shouldn't you have some common sense?
    - deleted 14y ago
      [deleted]

acebarry 14y ago

Instawallet always made it clear that no one should keep anything more than spare change there.

GigabyteCoin 14y ago
I don't think they said that on the homepage, they advertised themselves as a bitcoin wallet. They did say so at one time or another I believe, but that was long long ago.
ams6110 14y ago
Given the recent trends in Bitcoin values, yesterday's spare change was today's real money.

tlrobinson 14y ago

It's not that it's impossible to for online wallets to be secure, it's that most of the people implementing them are amateurs when it comes to security. The Bitcoin industry needs bank level security. They're doing some things right (most exchanges offer 2FA), but they've got a long ways to go.

wmf 14y ago
Nobody besides Gox is making enough money to afford real security AFAIK.