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Offline emski

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Possible Attack Scenario Questions
« on: September 09, 2014, 01:02:38 PM »

1 A malicious person (EVIL) registers asset ASSET. Let it be 100000000000000 ASSET (precision 1).
2 That person starts flooding the network with transactions. Each one sending 1 ASSET to random address.

Is this possible?

Who's responsibility is to prevent this ? (Delegates?)
Is there an easy mechanism to block an asset trading?

Offline xeroc

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Re: Possible Attack Scenario Questions
« Reply #1 on: September 09, 2014, 01:08:01 PM »
He does need to pay fees for the creation and for spending .. but you are right .. he will at the end be able to use his asste to pay the tx fee ..

Btw, how are fees set for assets? Maybe by delegates?

If so delegates can prevent floods by setting fees to availableAmount+1
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Offline emski

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Re: Possible Attack Scenario Questions
« Reply #2 on: September 09, 2014, 09:40:42 PM »
Yes but that needs to be done by most (all) of the delegates.
Can it be done without recompile?

Offline bytemaster

Re: Possible Attack Scenario Questions
« Reply #3 on: September 09, 2014, 09:42:37 PM »
Yes but that needs to be done by most (all) of the delegates.
Can it be done without recompile?

Only BitAssets can be used for fees.  User issued assets cannot be used for fees because of this exact attack vector.
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Offline emski

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Re: Possible Attack Scenario Questions
« Reply #4 on: September 09, 2014, 09:47:10 PM »
So if you issue a new market asset you need to pay transaction fees in BTSX?
What if you short significant amount ASSET to someone and he trade it... Does he have to pay in btsx?

EDIT: Though you might need price feeds and market depth for the market to operate . However if an extremely cheap market issued asset exist this might still be an issue.
« Last Edit: September 09, 2014, 09:52:53 PM by emski »

Offline bytemaster

Re: Possible Attack Scenario Questions
« Reply #5 on: September 09, 2014, 09:51:16 PM »
So if you issue a new market asset you need to pay transaction fees in BTSX?
What if you short significant amount ASSET to someone and he trade it... Does he have to pay in btsx?

Market Issued assets... if created by a user require a price feed and thus approval of delegates.
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline emski

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Re: Possible Attack Scenario Questions
« Reply #6 on: September 09, 2014, 09:58:43 PM »
So if you issue a new market asset you need to pay transaction fees in BTSX?
What if you short significant amount ASSET to someone and he trade it... Does he have to pay in btsx?

Market Issued assets... if created by a user require a price feed and thus approval of delegates.

What if someone includes DOGE coin as market issued asset. It might make flood attack about 30000% cheaper.

Offline bytemaster

Re: Possible Attack Scenario Questions
« Reply #7 on: September 09, 2014, 10:00:13 PM »
So if you issue a new market asset you need to pay transaction fees in BTSX?
What if you short significant amount ASSET to someone and he trade it... Does he have to pay in btsx?

Market Issued assets... if created by a user require a price feed and thus approval of delegates.

What if someone includes DOGE coin as market issued asset. It might make flood attack about 30000% cheaper.

Nothing can make it cheaper... attacking with a BitAsset is 2x more expensive than using BTSX to pay your fees.
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Offline emski

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Re: Possible Attack Scenario Questions
« Reply #8 on: September 09, 2014, 10:03:35 PM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

Offline bytemaster

Re: Possible Attack Scenario Questions
« Reply #9 on: September 09, 2014, 10:04:25 PM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE
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Offline eagleeye

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Re: Possible Attack Scenario Questions
« Reply #10 on: September 10, 2014, 02:45:29 AM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE

What happens when the BTSX is $10 dollars will the fees be adjusted lower per transaction?  (Sorry if this has been brought up or I have brought this up).

Offline bytemaster

Re: Possible Attack Scenario Questions
« Reply #11 on: September 10, 2014, 02:46:43 AM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE

What happens when the BTSX is $10 dollars will the fees be adjusted lower per transaction?  (Sorry if this has been brought up or I have brought this up).

Yes, delegates are in control of the fees (or will be by the time we hit $10 per BTSX)
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Offline tonyk

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Re: Possible Attack Scenario Questions
« Reply #12 on: September 10, 2014, 02:50:31 AM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE

Minor issue.
 I am not very comfortable with LOWEST_ASK_PRICE as it can/is changing rapidly.
Maybe median feed price, average price etc.

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline emski

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Re: Possible Attack Scenario Questions
« Reply #13 on: September 10, 2014, 06:45:16 AM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE

Minor issue.
 I am not very comfortable with LOWEST_ASK_PRICE as it can/is changing rapidly.
Maybe median feed price, average price etc.

Isn't it tied to median price?
If not it should be median, otherwise it doesn't matter that much.

Offline tonyk

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Re: Possible Attack Scenario Questions
« Reply #14 on: September 10, 2014, 06:56:33 AM »
So the fees for bitassets are at least 0.5 BTSX converted in the ASSET ?

The fees must be greater than  2*BTSX_FEE * LOWEST_ASK_PRICE

Minor issue.
 I am not very comfortable with LOWEST_ASK_PRICE as it can/is changing rapidly.
Maybe median feed price, average price etc.

Isn't it tied to median price?
If not it should be median, otherwise it doesn't matter that much.
LOWEST_ASK is somewhat tied to the median price. It just tends to change more frequently (and increasingly so with more dynamic market). Not that the median or the average will never change, but it will be far less frequently, imo.

Not the biggest deal, of deals, at this point in time anyway.
« Last Edit: September 10, 2014, 07:01:12 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

 

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