Kodak starts bitcoin mining + launches KodakCoin

[pawel7777]

Just when I thought nothing in the crypto world could surprise me anymore

https://www.bbc.co.uk/news/amp/technology-42630136

[Tambu]

This is good I was an avid fan of Kodak before.
Hope kodak will make it to the market that it can par with btc.

[MadZ]

As great an announcement as this might be, it's a bit absurd how this has affected Kodak's stock price. From $3 this morning to $9 in after hours trading. Has $200 million in value really been created? Also, according to Marketwatch, 10% of the company's public float is being held in short positions. Must've been a bad day for them.

[fomothall]

Company that totally missed the shift to digital age of photography and now tries to spearhead the crypto era for photography. Interesting

[pawel7777]

As great an announcement as this might be, it's a bit absurd how this has affected Kodak's stock price. From $3 this morning to $9 in after hours trading.

As per google, the highest was $7.10 not $9. Still, 120% gain is insanely high for traditional stocks.
This quote from the article explains it a bit:

"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.

Investors got way overexcited about it. Then again, if Kodak manages to manufacture their own rigs, more efficient than Bitmain's ones + if they have their own power plant (as mentioned in article) + if the rumours about China capping mining operations are true - then this could turn out to be the best move for Kodak.

Creating their own crypto seems to me like a totally missed idea, but if they were to launch it as an ICO, they could pocket some really big and quick profit even if the project fails in the longer run.

Company that totally missed the shift to digital age of photography and now tries to spearhead the crypto era for photography. Interesting

Their timing is a bit off on this one too. If they did this ~2 years ago, when "blockchain technology" was No.1 buzzword, the effect would have been much better.

[SparkMaster86]

Looks like more and more big companies are interest in making money from crypto currency. It's good I guess 'couse it makes more opportunities for invesments

[ferumflex]

Scam? ))) They try to jump to the moving train. Will wait when Kodak ico) I hope they have really good reasons(good idea) to run KodakCoin

[drunkcoin]

I am happy to hear that. It could be a revival of the legendary company. I used to buy Kodak's films back in 90s and it was sad that it became a bankrupt in 2012. Let's hope that ICO will help Kodak bring back its old days.

[DRAWDE_3691]

It is a very interesting news and project for a big company to join and create their coin. I just read something about photographers selling their work after being licensed and will be paid which means a blockchain for them will be made?

https://www.kodak.com/kodakone/default.htm

[pawel7777]

Scam? ))) They try to jump to the moving train. Will wait when Kodak ico) I hope they have really good reasons(good idea) to run KodakCoin

it's mentioned in the quoted article:

Kodak's other initiative, the KodakCoin, is being created as part of an effort to build a global ledger of picture rights ownership that photographers can add their work to.

Associated KodakOne software will be used to crawl the web and find pictures that have been used without permission.

The company said it would then "manage the licensing process," so the photographer can be paid, in KodakCoin

I see it as potentially good idea, but have doubts whether Kodak knows what they're doing. If they want to put themselves as manager of the licensing process, then it suggests their blockchain/currency will be centralised and if so, there's no really a need for a blockchain, definitely not for a new currency (they could just accept fiat).

But if they did it as a decentralised storage + smart contracts, where authors could upload their work, pick a relevant tags/categories, set their pricing etc, then it could work great, cutting off the middle-men such as Shutterstock and Getty Images.

[Catch-22]

Yup. Read it somewhere and got interested.
Kodak is an established company, and for them to get into cryptocurrency is a big deal.  This something we should prepare to join once it open it's door to investors.

[MadZ]

As great an announcement as this might be, it's a bit absurd how this has affected Kodak's stock price. From $3 this morning to $9 in after hours trading.

As per google, the highest was $7.10 not $9. Still, 120% gain is insanely high for traditional stocks.
This quote from the article explains it a bit:

It was already up to $9 in after hours trading when I posted that. Now it's at $12, so a 300% increase since yesterday. Given this is all based on a simple announcement, I wouldn't be surprised if we saw more publicly listed companies make similar announcements in the future.

[mahibul49]

amazing !!!!!its an great announcement and its indiacating cryptos bright future
crypto is life bitcoin is king.

[paolo099]

being a photographer as a hobby this is a very interesting idea, having your photos stolen without many possibilities to claim as yours this can be a goos solution to this.
I will keep my eyes open to this project and see how it will go.

[kevoh]

At least this ICO is going to have the backing of SEC and US investors can actually participate being that Kodak is already a well known company.

[bribed]

Wow, is this true what Im seeing here? I actually am surprised that Kodak is still alive. But seems as they are struggling in their usual business field as they are trying to get a foot in Bitcoin mining. Lets see how this enfolds, Im curious and will keep an eye open for this one.

[btcwish1]

Cryptoworld will always surprise us!  If Kodak is successful in launching their own coin then I am sure more big companies will follow. Lets buckle up!! 

[apvmoreira]

If this is happening, 2018 will be the year to invest on crypto, with all traditional world looking at this at some form of fast profit.

2019 we will have the crash.

[rossjamie]

I rarely hear news from kodak, last time I knew kodak is wheb I still 5 years old when my family still using konica camera. It's legendary photography industry.

When the ICO?

[BitChief]

If this is happening, 2018 will be the year to invest on crypto, with all traditional world looking at this at some form of fast profit.

2019 we will have the crash.

This ICO really looks like a hail mary to me. I really don't see the need for it, it's just a desperate move to get some media attention again