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Question: What level of inconvenience are you willing to accept for security?
Anything from blood samples to three factor authentication to ensure my Bitcoin security
Some inconvenience is acceptable but not if it's slower and more complicated than installing an OS
Not a lot, less than 5 minutes as long as it is enough to deter script-kiddies
Not at all, instant gratifications and what's life without some risk

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Author Topic: What level of inconvenience are you willing to accept for security?  (Read 1309 times)
Emmanuel-SDRN
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August 10, 2011, 07:07:47 AM
 #1

As part of a series of questions to determine Bitcoin users preferences and usage patterns, this question focuses on the compromise between security and convenience. How much inconvenience would you be willing to put up with for the sake of security?

On the extreme end for security, there may be systems which requires users to submit photo IDs, a second factor authentication such as Yubi-keys, maybe a biometric scan of your thumb in addition, an hour's wait to verify your identity via a voice call and perhaps 20 confirmations of the incoming Bitcoin transactions before confirmation.

On the other hand, there is the basic run of the mill user login once per session with one click to transact with just one confirmation such as Mybitcoin used to accept.

Where would you stand on this scale?
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NothinG
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August 10, 2011, 08:26:16 AM
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Depending on how much bitcoins I have at stake would determine what security measures I would take.
Up to 1k, I probably wouldn't go too overboard. Just a simple offline wallet with most of my coins.
After 1k I might want a few multi-authentication methods.

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August 10, 2011, 10:59:27 AM
 #3

Why should i trust a Yubi-Key ?
As smart Virus with Keylogger might be enough to modify the Transaction and steal all my Money - or not ?  Huh
I cant imagine how Online Banking could ever be secure, if you use a plain old PC (which is, in many cases, full of Trojans).

The fool who knows his foolishness, is wise at least so far.
But a fool who thinks himself wise, he is called a fool indeed.
Emmanuel-SDRN
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August 10, 2011, 02:09:23 PM
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Why should i trust a Yubi-Key ?
As smart Virus with Keylogger might be enough to modify the Transaction and steal all my Money - or not ?  Huh
I cant imagine how Online Banking could ever be secure, if you use a plain old PC (which is, in many cases, full of Trojans).

That is why this poll was created Smiley

Some of us may feel a two factor authentication such as a Yubi-Key is sufficient, whereas others may find it naive and yet others find it redundant.

If we could establish a general idea of the desired level of convenience versus security, the various developers working on the multitudes of projects may be able to better focus their efforts so as not to overdo one or the other.
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