raging bulls
Naslund, Steve
SNaslund at medline.com
Wed Aug 8 15:16:01 UTC 2012
Are there not mechanisms to handle replay attacks? There is also the
minor matter of fraud and regulatory concerns. You might get away with
it a few times but not often enough to avoid a potential death penalty
of being disconnected.
Steve
-----Original Message-----
From: Alexandre Snarskii [mailto:snar at snar.spb.ru]
Sent: Wednesday, August 08, 2012 9:46 AM
To: Naslund, Steve
Cc: Alexandre Snarskii
Subject: Re: raging bulls
On Wed, Aug 08, 2012 at 09:08:18AM -0500, Naslund, Steve wrote:
> Also, we are only talking about a delay long enough to satisfy the
> longest circuit so you could not push your timestamp very far back and
> would have to get the fake one done pretty quickly in order for it to
> be worthwhile. The real question is could you fake a cryptographic
> timestamp fast enough to actually gain time on the system. Possibly
> but it would be a very tall order.
Looks like replay attack works here: "attacker" can easily record
encrypted timestamps and reuse them some milliseconds later, claiming "I
had no knowledge on how market changed during this time, it's my
provider had to re-route my traffic!!"
>
> Steve
>
> -----Original Message-----
> From: Chu, Yi [NTK] [mailto:Yi.Chu at sprint.com]
> Sent: Wednesday, August 08, 2012 9:01 AM
> To: Naslund, Steve; nanog at nanog.org
> Subject: RE: raging bulls
>
> What prevents someone to fake an earlier timestamp? Money can bend
> light, sure can a few msec.
>
> yi
>
> -----Original Message-----
> From: Naslund, Steve [mailto:SNaslund at medline.com]
> Sent: Wednesday, August 08, 2012 9:53 AM
> To: nanog at nanog.org
> Subject: RE: raging bulls
>
> It seems to me that all the markets have been doing this the wrong
way.
> Would it now be more fair to use some kind of signed timestamp and
> process all transactions in the order that they originated? Perhaps
> each trade could have a signed GPS tag with the absolute time on it.
> It would keep everyone's trades in order no matter how latent their
> connection to the market was. All you would have to do is introduce a
> couple of seconds delay to account for the longest circuit and then
> take them in order. They could certainly use less expensive
> connections and ensure that international traders get a fair shake.
>
> Steven Naslund
>
>
--
In theory, there is no difference between theory and practice.
But, in practice, there is.
More information about the NANOG
mailing list