Kodak soars on KodakCoin and Bitcoin mining plans

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#1
kodak.jpg

Shares in photo firm Eastman Kodak soared nearly 120% after it revealed plans to mint its own crypto-currency, the KodakCoin.

The US firm said it was teaming up with London-based Wenn Media Group to carry out the initial coin offering (ICO).

It is part of a blockchain-based initiative to help photographers control their image rights.

Kodak also detailed plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York.

Details of this second scheme - which is being branded the Kodak KashMiner - were outlined at the CES tech show in Las Vegas.

Customers will pay up-front to rent mining capacity.

Kodak is the latest in a series of companies to see its value jump after revealing plans for blockchain-related activity.

"This is a phenomenon we saw back during the dot com days in the late 1990s where traditional companies would mention some kind of internet strategy and their stock price would jump up," commented Garrick Hileman from the University of Cambridge.

"When you see stock prices moving like this it does appear to be troubling - it's hard to say if there's a bubble but it certainly is indicative of a frothy investment market."

Read more: http://www.bbc.com/news/technology-42630136
 

El Chorizo

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#2
Well, can't blame them for trying to jump on the bandwagon I guess. They haven't done much lately so this is something that will get people interested again I guess. If they did resell miners at least people would have faith in their brand and support.
 
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#4
There could be potential for their blockchain tech to help photographers keep track of who is using their photographs. If that's the case then I could be useful as well.
 

El Chorizo

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#5
I'm interested to see how much the miners are going to cost!
I doubt they are making their own, probably using existing Chinese ASIC's.

There could be potential for their blockchain tech to help photographers keep track of who is using their photographs. If that's the case then I could be useful as well.
I need to see how this technology works but yeah, I can see that. I just can't picture what they can do to protect images that isn't already being used (and failing).
 

El Chorizo

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#6
Well well well, here's another take on the Kodak stuff: https://davidgerard.co.uk/blockchai...the-kodak-kashminer-is-a-bitcoin-mining-scam/

So if you’re a photographer who puts photos up on KodakOne:
  1. The only people who will be able to buy KodakCoins, to buy your photos, will be accredited investors.
  2. You may be able to be paid in KodakCoins if you, the photographer, are not an accredited investor yourself. (The law is not entirely clear on this, but lawyers who’ve been asked about this think you probably can.)
  3. When you are paid in KodakCoin, you will not be able to sell them for real money — nobody will be able to buy them from you unless they are accredited investors. Also, you may not be able to sell them at all unless you’re an accredited investor yourself.
 
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El Chorizo

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#7
I'm going to short the shit out of this tomorrow. If it popped, it's for no reason. It's just an Ethereum token, a rebranded Antminer S9 and a ridiculous cost to RENT the thing, not own.... so F all that. These guys are morons!
 
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#8
You might be onto something there! I was hoping they might be doing something legit, but it sounds like you uncovered the potential downfalls.