What do you know about Security Certificates?

Samsonid

Senior member
Nov 6, 2001
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Recently I was going to make a transaction online, but I encountered a browser warning that the corresponding server had an expired security certificate (the expiration date was only a few days off).

Does that mean that:

a) the server in question is no longer secure (there is no encryption whatsoever) and any transaction is much easier to be intersepted by outsiders?

or

b) the browser warning is merely a way for the Certification companies to collect their dues, but security was never trully compromised?