Current Events > Kodak stock up 125% after unveiling cryptocurrency

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http://money.cnn.com/2018/01/09/technology/kodakcoin/index.html

Kodak is moving from cameras to crypto in a move likely to be viewed as a picture-perfect example of bitcoin mania.
The century-old camera brand said Tuesday it is investing in blockchain technology and plans to launch a "photo-centric cryptocurrency" called KODAKCoin.

Kodak (KODK)'s stock surged as much as 125% in trading after the announcement.

With the price of Bitcoin, Litecoin, Ripple and other digital currencies skyrocketing, an eclectic mix of small, unrelated businesses has attempted to ride the wave of investor interest by teasing cryptocurrency pivots.

Long Island Iced Tea Corp. changed its name to Long Blockchain Corp (LBCC). Bioptyx rebranded as Riot Blockchain (RIOT) and shifted its business model from biotech to bitcoin. Rich Cigars, a tobacco company, and Vapetek, an e-cigarette firm, each declared they were suddenly blockchain businesses.

Investors have generally reacted to these announcements by sending the stocks soaring. However, Kodak framed the move as being about more than profiting off a buzzword.

"For many in the tech industry, 'blockchain' and 'cryptocurrency' are hot buzzwords," Jeff Clarke, Kodak's CEO, said in a statement. "But for photographers who've long struggled to assert control over their work and how it's used, these buzzwords are the keys to solving what felt like an unsolvable problem."

Kodak says it will use the blockchain, essentially a digital ledger, for a new platform called KODAKOne to help photographers manage image rights. KODAKCoin will be used for transactions when photographers license their work.

The Kodak news was quickly met with sarcasm on social media. As one reporter joked on Twitter (TWTR), it may only be a matter of time before we see the launch of "PolaroidCOIN" and "SearsCOIN."

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Where's Montgomery Wards when you need 'em?
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How much longer can this possibly last
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eston posted...

How much longer can this possibly last

Couple months.
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Waiting for Trumpcoins.
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get out while you can, the government be coming.
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I work in photography and this actually makes sense for the industry. It essentially would eliminate the need for watermarks without outright buying the rights to a photo.

Also, as things shift more and more to digital pictures it's a good idea for Kodak to shift as well. Atm their printing program is the leader in the industry and its also the only thing they really have. This is a really good idea for them and more than just a fad.
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@Darkman124 why didn't you tell us to buy Kodak stock?
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because my investment timeframe is measured in multiples of your lifespan
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Darkman124 posted...

because my investment timeframe is measured in multiples of your lifespan

Why my lifespan in particular? Do you have any reason to believe that my lifespan will differ from that of the average human?
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BLAKUboy posted...

Couple months.

that's all I need for my coins to be considered long-term
then i'm fucking out of this bubble
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DifferentialEquation posted...

Why my lifespan in particular? Do you have any reason to believe that my lifespan will differ from that of the average human?

maybe i just expect to live several times longer than the average human

who knows
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Oh lord.

I know a guy who is getting his crypto currency backed by the FDIC potentially-I wonder if that happens will it change anything ?
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Kodak is a meme stock. The fluctuations of EK's death throes in 2012-2013 were fun though.
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Imagine calling Ethereum and Bitcoin "bubbles." Bitcoin has been around for nearly 10 years and people still think it's a bubble. Ethereum is the basis for almost every alt coin out there but it's a bubble. Good grief.
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clean-burning, energy efficient capitalist markets
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EvalAngell posted...

Bitcoin has been around for nearly 10 years and people still think it's a bubble.

That's really not how bubbles work

I mean, bitcoin has been around that long but the consistent returns on it are much more recent

like, housing prices had been going up for 30 years before the recession, that doesn't mean we didn't have a housing bubble

https://upload.wikimedia.org/wikipedia/commons/c/c1/Median_and_Average_Sales_Prices_of_New_Homes_Sold_in_United_States_1963-2008_annual.png
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This thing always happens when a company adds blockchain to their name.

Look up RIOT and LBCC. These companies had nothing to do with crypto but then they added blockchain to their name and their stocks went crazy. Perfect pump and dump.
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