21–28 of 28 posts
Serious question: How many of you actually use SMS applications, besides texting people? For example, Wells Fargo keeps telling me I can bank over SMS. But why would I do that versus using their mobile site? Or is this just for "downmarket" folks?
Although it's a pretty cool idea, I was under the impression that the entire basis of a crypto currency was to keep anonymity...
Serious question: How many of you actually use SMS applications, besides texting people? For example, Wells Fargo keeps telling me I can bank over SMS. But why would I do that versus using their mobile site? Or is this just for "downmarket" folks?
Pay With Bits has been doing this since late April... http://www.youtube.com/watch?v=Iyhkiz8BSCM http://techcrunch.com/2013/04/28/pay-with-bits-wants-to-be-t... http://paywithbits.com/
Earlier quoted context omitted.
Spoofing the SMS on the request is easy (only policy at operators prevents it). You do need to intercept the incoming call, but you can trivially do that ith call forwarding, or more impressively do it with network or local handset exploits.
We've tried to make it as secure as possible. The idea is that the pin is only sent over the call. So the hacker would need to listen in to your call in order to steal your pin. So they basically need to hack your SMS and your voice calls. How else can we make this more secure? As for publishing your phone number so that you can receive bitcoins, you can publish your secondary phone numbers. We only allow you to use…
Wow, this is simultaneously really cool from a usability perspective, but terrifying from a security perspective. A non changing PIN sent over cleartext (encrypted by "speech"). I guess there is plenty of room for security on the backend. It is more than fine for casual uses, but a serious user who publishes his phone number (payment address) would be subject to a really cheap attack by anyone who can look at his pho…
Wow, this is simultaneously really cool from a usability perspective, but terrifying from a security perspective. A non changing PIN sent over cleartext (encrypted by "speech"). I guess there is plenty of room for security on the backend. It is more than fine for casual uses, but a serious user who publishes his phone number (payment address) would be subject to a really cheap attack by anyone who can look at his pho…
What about requiring a 2 factor auth from the likes of Google Auth or Authy https://www.authy.com/ ?
> https://www.youtube.com/watch?v=4F4qzPbcFiA Although it's a pretty cool idea, I was under the impression that the entire basis of a crypto currency was to keep anonymity...
For some it's anonymity. For others it's cheap way to pay for stuff. Or only possible way (if CC are not working in your country). Or an wealth storage vehicle and protection against inflation. Or vote against USD and wars. Or a tax evasion tool.