Image Image Image Image Image Image Image Image Image Image Image Image

| January 24, 2018

Scroll to top

Top

into Archives -

U.S. safety board opens investigation into second Tesla Autopilot crash

January 24, 2018 |

The U.S. National Transportation Safety Board will investigate an accident involving a Tesla Inc. Model S sedan that rear-ended a firetruck on a Southern California freeway Monday, the agency said.

The agency will send two investigators to conduct a field inquiry of the crash that occurred near…


L.A. Times – Business

24-Year-Old Trump Appointee Runs Into Resume Trouble

January 22, 2018 |

Some 24-year-olds are wunderkinds. The Washington Post clearly doesn’t think Taylor Weyeneth belongs in that category. Weyeneth was a relative unknown until the Post on Jan. 14 ran a piece looking at the “rising star at the Office of National Drug Control Policy”—and the paltry resume that got him…
Newser

Ryan orders ethics inquiry into Pa. lawmaker’s reported use of taxpayer cash to settle misconduct claim

January 21, 2018 |

U.S. Rep. Patrick Meehan has denied any harassment of an ex-aide. He will lose his seat on the ethics panel
FOX News

How John Young smuggled a corned-beef sandwich into space

January 15, 2018 |

While John Young, who died on Jan. 5 at age 87 , is famous for his Apollo 16 moonwalks and his role as commander of the first space shuttle mission, the NASA astronaut is also remembered for a small scandal he triggered with a sneaky act: smuggling a corned-beef sandwich into space.
FOX News

Airborne Car Slams Into 2nd-Floor Office

January 15, 2018 |

It’s 2018, so where are the flying cars? On Sunday, the answer to that question was Santa Ana, Calif., where a white sedan crashed into a dental office on the second floor of a two-story building. Orange County Fire Authority spokesman Capt. Stephen Horner says the vehicle became airborne when…
Newser

No Jail for Doc Who Burned His Initials Into Patients’ Livers

January 12, 2018 |

A UK surgeon busted for laser-inscribing his initials into the livers of two transplant patients at Queen Elizabeth Hospital in 2013 won’t go to jail for his “arrogant” act. Sky News reports 53-year-old Simon Bramhall managed to avoid time behind bars for “[betraying] the trust” of his patients, instead being…
Newser

Man Drives Tank Into Store, Steals Bottle of Wine

January 12, 2018 |

On Wednesday morning in a Russian town just south of the Arctic Circle, a tank rumbled through the snowy streets before crashing into a convenience store, the Independent reports. Reuters notes that witnesses at the scene “did not seem particularly disturbed by the incident.” It all started when a man…
Newser

Lawmakers look into SpaceX launch that ended with lost satellite

January 11, 2018 |

Lawmakers said they will receive classified briefings on a secret U.S. government satellite that apparently crashed into the sea after it was launched by Elon Musk’s SpaceX.

“The first statement by SpaceX was that the failure to achieve orbit was not theirs,” so there’s no reason so far to question…


L.A. Times – Business

Kodak Getting Into Bitcoin Mining

January 10, 2018 |

Kodak Getting Into Bitcoin Mining

Kodak, a legacy photography company synonymous with the last century, is to launch its own cryptocurrency, Kodakcoin. Not content with holding an ICO, the company has also decided to get into cryptocurrency mining in what’s been interpreted as a desperate bid to stay relevant. The news, unveiled at CES 2018 on Wednesday, goes down as one of the strangest stories yet in a month that’s been filled with crypto oddities.

Also read: JP Morgan’s Jamie Dimon Regrets his ”Bitcoin is a Fraud” Statement

Kodak Enjoys Its Kodak Moment

In a week in which an altcoin for the dental industry neared a $ 2 billion market cap and messaging app Telegram unveiled a 132-page white paper, the notion of Kodak launching its own ICO doesn’t seem that outlandish. Reinventing itself as a cryptocurrency mining firm into the bargain though is a curveball that no one saw coming.

Kodak Getting Into Bitcoin Mining

CES is the technology world’s largest and glitziest event of the year, hosted in Las Vegas and boasting cutting-edge new kit from industry leaders such as Samsung and Sony. And then there’s Kodak, a company that by anyone’s reckoning was last relevant around the time that Instamatic cameras were the latest tech. But to the chagrin of the other exhibitors at CES on Wednesday, Kodak stole the show.

Kodak Pictures Itself Mining Cryptocurrency

Kodak, Meet Crypto

The news that the Eastman Kodak Company, founded in 1888, was jumping on the cryptocurrency bandwagon should have come as a total shock. It says something about the current news cycle that the story, accompanied by news of Kodak’s inevitable share price leap, was greeted by little more than a shrug. The tokenized project the company are launching, for what it’s worth, sounds like a Shutterstock copy, with added permissions. And a blockchain of course, because 2018.

Kodak Pictures Itself Mining Cryptocurrency
Desperate not to become the next Kodak, Kodak has decided to get into cryptocurrency.

But what to make of the company’s foray into cryptocurrency mining? As if trying to tick off every cliche in the crypto handbook, Kodak has declared that it is going to start renting out bitcoin miners to the public. The miners it demoed appear to be Bitmain mining rigs with a Kodak sticker appended, suggesting that the whole scheme may have been hastily cobbled together. This theory was bolstered by the revelation that the Kodacoin website was only registered on January 2.

Kodak Pictures Itself Mining Cryptocurrency

Mining for Headlines

To show its support for its new mining operation, Kodak announced plans to install a rig in its New York headquarters. Presumably not in its office, for cryptocurrency mining is a hot and noisy racket best confined to a darkened room. The Kodak branded miners will be leased to customers, who will be expected to pay upfront for the mining capacity. As one commenter scathingly put it:

This morning $ KODK was a dead company walking destroying value and cash at a fairly rapid pace and headed for another bankruptcy, now after laying some empty words on a piece of paper it’s all good.

“This is getting ridiculous,” Dennis Dick, a trader at Bright Trading LLC, told Reuters. “From a fundamental point of view, none of this makes sense.” There’s a desperation about the reinvention of Kodak, like an embarrassing uncle trying to prove they’re still down with the kids. It will be the big boys investing in Kodak’s token sale though, which is open to SEC registered investors only.

Kodak Pictures Itself Mining Cryptocurrency

It doesn’t matter whether the world needs another image licensing platform, or indeed whether the world needs Kodak. All that matters to the institutional investors is whether they can turn a profit by snapping up KODK tokens in their millions. In the current climate, that looks like a dead certainty.

Do you think Kodak’s entry into the cryptocurrency market is insanity or inspired? Let us know in the comments section below.


Images courtesy of Shutterstock, and Kodak.


Need to know the price of bitcoin? Check this chart.

The post Kodak Getting Into Bitcoin Mining appeared first on Bitcoin News.

Bitcoin News