Author Topic: AGS Security  (Read 2946 times)

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Offline biophil

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I'm not sure there's an easy fix for this problem. Invictus can't put AGS on a blockchain until after the donation period ends (July?) because they committed not to. Another solution would be to allow people some secure method of moving their donations to a new address, so to speak - changing their donation address.

But that's not a solution at all! How would it work? If I control the private key of my donation address, I can securely and permanently associate my donations with a new address. But if my private key is compromised, the attacker can securely and permanently take control of my donations.

Maybe I'm thinking about it too simplistically, but it seems like it's just a hard problem that people are going to have to deal with.
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Offline blahblah7up

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jabba, I agree that people HAVE TO learn.  But then there has to be room to make mistakes because that is part of learning.

As it is there is no room for that.

I think this is really something to think about now because right now no one cares.  No one will hack because there's no real big money at stake at the moment.  But if this rapidly becomes big it will be target No. 1.

Offline toast

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The idea is that if this becomes a problem, people will just put AGS on a blockchain and choose to honor that instead. Should it be done preemptively before someone loses their first keys? IDK, but Invictus won't directly support it because they would want to stick with their original promise.
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Offline JA

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If you worry about security make a paper wallet
Donate from a address dump it from the wallet and write it down

These days people have to learn how to secure their digital money by themselves ... thats one aspect of what is happening right now
The first use of a Bank was to securely safe your Money (Gold)
« Last Edit: March 05, 2014, 06:43:20 pm by jabbajabba »

Offline blahblah7up

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Toast,

Ok, from your quoted response then I can revise my concern to read to every time a "parent" DAC is developed the race would be on...which from my perspective is even more dangerous and critical because everything else will ride on that.

The key phrase in your response is "eventually."  Eventually AGS might be completely liquid because everything is developed on key parent DACs like BTS X.  But what's the time frame on that?  How may days of AGS do we have left?  How many years until ALL those key parent DACs are created?  If you frequent Bitcoin reddit, people are being hacked almost daily.

And people will make mistakes too.  You can say, well that's their fault.  But everyone is just figuring out how this stuff works.  This is the very beginning and there will be mistakes.

As an example: Somewhere on this forum there was a 100 PTS bounty given for an explanation of how to move a Blockchain wallet.dat file to import it locally.  That explanation exposes the private key and that wallet is potentially compromised.

All one needs is a hacker taking screen shots.  If you manually enter your private keys and you've got a keylogger on your system...well...

Offline toast

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I don't believe AGS will ever be liquid, but when Bitshares comes out you will have those as liquid assets derived from Angelshares

I agree.  We can't stop someone from releasing a coin that maps to AGS and we can't stop the market from honoring that coin instead of AGS if it chooses.  We couldn't initiate or support that ourselves without altering the value proposition on which people have been relying.

The natural, gradual process of liquefaction is when new families of DACs spin off.   BitShares X effectively liquifies its portion of AGS for holders on February 28th.  If BitShares Bingo winds up serving as the prototype for a family of honorable gaming DACs then more of AGS would become liquid at that time.  So eventually AGS could become mostly liquid through the sum of all children it spawns.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline blahblah7up

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One of the important security features in crypto is the the ability to make any number of addresses and throw them away at will.  This is often even encouraged by developers like with Bitmessage for instance - you make an address for a specific purpose, use it, then move on and never look back.

I see this as a problem for the security of AGS if the shares are to be indefinitely associated with one address.  If that address gets compromised (and address will certainly get compromised) that private key will forever be usable to get the next shares of whatever new DAC is about to come out.  Whoever compromised your wallet could just be quick and take the shares of the new DAC with your private key before you had the opportunity to.  Every time new shares would be released you would be racing against an adversary to download the new wallet and import your private key before you get hacked.

I think being able to move the AGS around is rather important.

Has anyone thought of this?