It can become annoying even with Hubpages if you have a slow Internet connection like mine. Still, I guess it is a 'security' issue.
What becomes awkward at times is when you have to type in some letters and figures from the 'hyroglyphics-like' identification tests that are designed to keep out automatic spammers. Sometimes they're reasonably easy to make out, at others, such a jumble that you might have to type in to two and three different sets of these before the site lets you in.
I'm an optimist. I think the time will evenutally come when the Internet won't be the easiest way for crooks to fleece people of money. When that time will be, though, I haven't a clue.