E-Gold: Passphrases

Why “Timmy”, “Timothy”, and “123456789” won’t do—why “Timothy1” and “Khsu7nnH2ghgZ” would do, but not very well! ... Masochistium Clickium Hic!

Now why, you might ask, do you need two passphrases. Well, it’s for security purposes. One thing you’ll find with most e-currencies issuers is that they take security far more seriously than any bank or credit card company. And if you think e-gold is bad, just you wait till we get onto Pecunix. It’s easier to break into Fort Knox—pure conjecture on our part, of course—than to sign-in to a Pecunix account!

But let’s not digress too far from the subject at hand. The “Alternative Passphrase” is only needed for transaction verification purposes, whereas the “Passphrase” is what you use to sign-in to your e-gold account.

Now when is a “passphrase” a “passphrase”? The answer in the case of e-gold is when it has at least six characters, and contains both letters and numbers. So “Timmy”, “Timothy”, and “123456789” do not pass e-gold’s test, the first being too short, the second being deficient in numbers, and the third being deficient in letters. But “Timothy1” would pass. Of course, it’s a poor choice of passphrase, one that is easily cracked by a dictionary attack. Now “Khsu7nnH2ghgZ”, or something similar, would do nicely—nicely that is until you forgot it, or wrote it down so that you wouldn’t forget it, an action which might well ensure that someone else came to remember it! Ah! You can never win!

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