[Bitcoin-development] Electrum security model concerns

Gregory Maxwell gmaxwell at gmail.com
Sat Oct 6 16:37:20 UTC 2012

I'm concerned about how the particular security model of electrum is
being described; or rather— not being described.  The electrum website
appears to have no security discussion beyond platitudes like "Secure:
Your private keys are not shared with the server. You do not have to
trust the server with your money.", "No scripts: Electrum does not
download any script at runtime. A compromised server cannot compromise
your client."

Claims like "You do not have to trust the server with your money" are
factually incorrect.

What I would expect is a proper discussion, like "Understanding the
bitcoinj security model":
http://code.google.com/p/bitcoinj/wiki/SecurityModel  (which I don't
agree with completely— as it makes some claims which are known to be
false— wrt detecting double spends, but it does give a reasonable
overview),  and avoidance of broad claims which will result in
misunderstandings that result in users engaging in riskier behaviors
which they could avoid if they better understood the security of the
software they're running.

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