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Comment Re: Slashdot, once again... (Score 5, Insightful) 289

And this (extremely insightful) explanation is why so many United Statsians are so terrified of our own country. We are seemingly just a few votes away from a tyranny of the vocal religious minority. Give a fundamentalist a few thousand nuclear missiles and the most expensive army the world has ever known, and brown people around the world start to get nervous. But we have to do it, because terrorists, or freedom, or something!

Comment Re:Bootstrapping a cell phone as the second factor (Score 1) 130

Same way Google does it I suppose. A list of single-use codes that you keep offline, and you can verify from the same device that you initiate the purchase from...in theory. It seems like the U.S., as a society, wants to completely eliminate every sort of risk in the world. What we should really be concentrating on is mitigating them to an acceptable level.

Comment Re:Evolution of payments (Score 2) 130

How about just basic 2-factor authentication?
  • I initiate a purchase online, Amex gives a probationary okay and sends a 5 digit code to my mobile device
  • The vendor prompts me for that code
  • Once I confirm that I am in possession of the device, the transaction can be completed

It may not be perfect but it seems a bit better than the honor system that we're on now.

Comment Re:anyone who has your 16-digit card number (Score 5, Funny) 130

Actually CVV values are located in the track data which only proves you either have a copy of the card or the original. The second "fix" was CVV2 values which are printed on the back of the cards. This was to prove the card is in the hands of the person, but if that number has been comprised (which is darn easy) then all bets are off.

AMEX uses a 4 digit value printed on the front of the card.

In a few years once somebody figures out how to implement a 5 digit value on the back of a card, our worries will be over!

Comment Re:Funny how this works ... (Score 0) 184

So...as an American can we borrow a few of your ideas? Of course we'll have to repackage them in red, white, and blue so that our more jingoistic (read: Southern) citizens can stomach the idea. I'd happily trade the "free" market for subsidized education and healthcare, and at this point will even more gladly trade our system of crony capitalism for anything else. Even bronie capitalism.

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