Stories
Slash Boxes
Comments

SoylentNews is people

CES 2018: Kodak Soars on KodakCoin and Bitcoin Mining Plans

posted by cmn32480 on Wednesday January 17 2018, @12:51AM   Printer-friendly
from the get-on-the-blockchain-train dept.

An Anonymous Coward writes:

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?

"MrPlow" writes:

Kodak's Supposed Crytocurrency Entrance Appears To Be Little More Than A Rebranded Paparazzi Copyright Trolling Scheme... With The Blockchain

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.

Original Submission #1   Original Submission #2

 
This discussion has been archived. No new comments can be posted.
CES 2018: Kodak Soars on KodakCoin and Bitcoin Mining Plans | Log In/Create an Account | Top | 17 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Wednesday January 17 2018, @02:02PM

    by Anonymous Coward on Wednesday January 17 2018, @02:02PM (#623584)

    Of course, now show us your work on what % of global financial transactions that 1/40th energy consumption supports.

    Ok, but to avoid distraction I want to see if I'm confused on the comparison you just made:

    If it takes 1/40th the energy to process 1/1000th the currency... your energy consumption is 25X greater.

    This energy per market cap calculation doesn't make much sense to me:

    E       = energy (kW-h)
    nBTC    = # bitcoins
    nUSD    = # US dollars
    USD/BTC = dollars/btc

    a = E/nUSD
    b = E/(nBTC*USD/BTC)

    You want to say that a << b due to some inherent properties of bitcoin and dollars. Actually we see that has nothing to do with it. It depends on the exchange rate and number of each in existence. You may as well be arguing that USD/BTC is 25x too low for the current amount of energy used or the dollar has 25x the value it should in terms of energy (due to middle east meddling, etc).

    you are assuredly horribly wrong about the implications of it
     

    What implications do you refer to?