an algorithm for a block of transactions is sent to all Bitcoin miners whose computer networks/banks then try to solve the algorithms (or singular?) for that "block" (of transactions, i think) .. when the solution is found a reward in Bitcoin is awarded, and announced on-line by the successful miner(s) ..
the announcement is important, some say a weak spot in the system, because what if the reward discovered/awarded is not announced, with the miner(s) then moving to the next block ahead of others, hence a headstart (i gather normally all start on the new block after the solving of the one just soved is announced) .. then, the suggestion was they could stay just far enough ahead to keep finding the rewards for themselves .. that was apparently pointed out awhile ago, most recently, i think, by some Cornell people ..
OK .. on reading that 'possible flaw' i wondered how could they move onto the next block? if e.g. the algorithm has to be sent out to the miners for solving .. i mean if the algoritm(s) were only sent out after each announcement of reward (new Bitcoins mined) wouldn't that eliminate that 'possible' flaw in the system? .. so I AM missing something there, that can't be the system, or no one would suggest the chance of non-announcement could be a flaw .. chuckle .. any help on this would be very much appreciated ..
anyway, Bitcoin people say, no sweat, as there are already built-in safeguards to protect against a discovery/reward and non-announcement of it ..
sooo .. is this right? .. in the solution of the algorithm(s?) a block of transactions are verified, a reward is granted (the reward being the new Bitcoins mined), and those new Bitcoins (or one?) just mined are announced on-line ..
this video is obviously dated as Mt Gox is kapoot .. it took about $400 million in others Bitcoins down with it ..
lol .. i hope in my rough-as-guts effort above there is some help for at least one who still, like me, doesn't understand how the system works .. also, grin, that someone else might suggest improvements on the rough-as-guts figuring out of mine above ..
The First Blockchain ETFs Launched on Nasdaq, NYSE Today
Nikhilesh De Jan 17, 2018 at 15:00 UTC
Reality Shares Advisors and Amplify Trust ETF launched the first blockchain-based exchange-traded funds (ETFs) on Nasdaq and the New York Stock Exchange Arca today.
Both funds went live on their respective exchanges at 9:30 a.m. EST. Reality Shares' Nasdaq NextGen Economy ETF (BLCN) opened at $24.20, while Amplify's Transformational Data Sharing ETF (BLOK) started closer to $20.
Both ETFs will exclusively invest in blockchain-based companies, according to a previous CoinDesk article. When the prospectuses were first filed in November 2017, the companies noted that investing in blockchain startups could be risky, as there are few regulations on the technology and companies may not necessarily turn a profit.
Bitcoin Crashes to Below $10,000 as Cryptocurrency Scams Scare Investors
[VIDEO: fears of regulation crackdown in China and South Korea. Major hacks recently. Millions disappeared overnight.]
By Jen Wieczner January 17, 2018
[...]
Although hacks and scams have plagued cryptocurrency exchanges worldwide, even afflicting leading platform Coinbase, the San Francisco-based exchange that has been likened to the industry’s “Goldman Sachs,” a new report this week also shone a light on the acute threat facing South Korea. Recorded Future, a cybersecurity firm, published an analysis Tuesday laying out evidence that North Korean hackers—the same group, known as Lazarus, blamed for the infamous hack of Sony Pictures Entertainment in 2014—were systematically targeting and plundering South Korean cryptocurrency exchanges.
Meanwhile, hackers used a different method of attack last weekend to steal $400,000 worth of the cryptocurrency Lumens, used on the Stellar digital payment system, from an online wallet service called BlackWallet. The wallet service has been offline ever since. http://fortune.com/2018/01/17/bitcoin-bitconnect-price-scam/
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