> Bruce Schneier said more than ten years ago that in his view open source   
> was not just a business model, but the only way to properly engineer a   
> security system. 
>

That probably because Bruce has seen his share of security by 
obscurity. You are right of course, a properly designed system, would not 
need to hide behind closed code.

However, taking the tin-foil hat off for a moment, it's probably safe 
enough for most people to go with the big players like LastPass etc. As 
with many things, there's some comfort and safety in hiding in a crowd 
which have been under scrutiny from actual experts, and where an actual 
business would in jeopardy.

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