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posted by
cmn32480
on Wednesday January 17 2018, @12:51AM
from the get-on-the-blockchain-train dept.
from the get-on-the-blockchain-train dept.
BBC http://www.bbc.com/news/technology-42630136 and many others are reporting this story,
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.
Anyone have further details?
For a few years now I've debated writing up a post about why a "blockchain-based DRM" is an idea that people frequently talk about, but which is a really dumb idea. Because the key point in the blockchain is that it "solves"...
Submitted via IRC for AndyTheAbsurd
Also at Bloomberg, The Verge, and Futurism.
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CES 2018: Kodak Soars on KodakCoin and Bitcoin Mining Plans
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It's raisins that make Post Raisin Bran so raisiny ...
(Score: 0) by Anonymous Coward on Wednesday January 17 2018, @03:09AM (2 children)
Is this a new scam where people/companies launch a new type of coin with zero liquidity but high "exchange rate" and then claim to suddenly be rich/not bankrupt?
(Score: 5, Interesting) by JoeMerchant on Wednesday January 17 2018, @03:39AM
It could be a way to artificially inflate a balance sheet. I hope that accounting firms are wise to this, and SEC rules make it clear how much of a company's net worth is "backed up" by questionable cryptocurrencies.
The more thinly traded cryptocurrencies have a lot in common with thinly traded penny stocks, you can hold $10M "worth" of stock in a thinly traded company, but if the daily volume traded in that company is only a few thousand dollars, you'll never get even $1M out of your holdings - any time you go to sell, you'll be crashing the price.
The major cryptocurrencies are a little better, you could probably cash in $10M worth of BTC or Ethereum over a few days without crashing the price, if you do it carefully - try that with Verticoin and you're gonna have a bad time.
🌻🌻 [google.com]
(Score: 1) by khallow on Wednesday January 17 2018, @02:36PM
1. Buy stock X.
2. Announce business X is making its own cryptocurrency.
3. Sell stock X.
4. Profit.
5. Short the stock.
6. Announce "We didn't mean it."
7. Cover your short.
8. Profit^2.