Kodakcoin

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
jpdion
Posts: 91
Joined: Thu Feb 13, 2014 12:52 pm

Re: Kodakcoin

Post by jpdion » Thu Jan 11, 2018 2:25 pm

Hmmm . . . is there room in there for a Netherlands Tulip Growers Tulip coin? :mrgreen:

User avatar
steadyeddy
Posts: 722
Joined: Tue Mar 31, 2009 5:01 pm
Location: The Alps of the Midwest

Re: Kodakcoin

Post by steadyeddy » Thu Jan 11, 2018 2:28 pm

OkieIndexer wrote:
Wed Jan 10, 2018 12:54 pm
nisiprius wrote:
Wed Jan 10, 2018 11:55 am
New 'insane' ETF proposal for bitcoin generates worry on Wall Street
Direxion wants to introduce 2X leveraged and inverse Bitcoin ETFs. I am... speechless.
When 10% moves in 5 seconds just aren't enough action for you! :shock:
Honestly! Why not just have people "invest" in coin flips, dice rolls, or any other game of chance? I have moderate interest in blockchain technology, but I lost respect for Bitcoin when it became obvious nobody could ever purchase much of anything with it due to high transaction costs and low transaction speeds.

User avatar
alpine_boglehead
Posts: 220
Joined: Fri Feb 17, 2017 9:51 am
Location: Austria

Re: Kodakcoin

Post by alpine_boglehead » Thu Jan 11, 2018 2:36 pm

steadyeddy wrote:
Thu Jan 11, 2018 2:28 pm
OkieIndexer wrote:
Wed Jan 10, 2018 12:54 pm
nisiprius wrote:
Wed Jan 10, 2018 11:55 am
New 'insane' ETF proposal for bitcoin generates worry on Wall Street
Direxion wants to introduce 2X leveraged and inverse Bitcoin ETFs. I am... speechless.
When 10% moves in 5 seconds just aren't enough action for you! :shock:
Honestly! Why not just have people "invest" in coin flips, dice rolls, or any other game of chance? I have moderate interest in blockchain technology, but I lost respect for Bitcoin when it became obvious nobody could ever purchase much of anything with it due to high transaction costs and low transaction speeds.
It's eye-opening that the transaction costs of a purported future currency are in the ballpark of $20.

User avatar
Epsilon Delta
Posts: 7430
Joined: Thu Apr 28, 2011 7:00 pm

Re: Kodakcoin

Post by Epsilon Delta » Thu Jan 11, 2018 2:38 pm

mws13 wrote:
Thu Jan 11, 2018 5:08 am

If you look at my post, I am a strong Advocate for "Crypto Assets" and their potential to:
  • Bank the un-bankable world
I'd strongly disagree with this one.

That's not to say crypto can't serve the unbanked, but at best it can serve the unbanked the way a dollar bill serves the unbanked, not the way a bank would.

adamthesmythe
Posts: 2231
Joined: Mon Sep 22, 2014 4:47 pm

Re: Kodakcoin

Post by adamthesmythe » Thu Jan 11, 2018 2:43 pm

Whakamole wrote:
Thu Jan 11, 2018 12:37 pm
BHUser27 wrote:
Thu Jan 11, 2018 6:39 am
"Utilising blockchain technology, the KodakOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform," Kodak explained.

I am amazed at how much mis-information there is in this thread. Kodak is not creating "digital currency". They are using block-chain technology as a way to register, track and control digital photo assets.

It is actually an interesting use of the technology, and seems an appropriate product/service for Kodak's brand.

It is not "coin" at all really.
And you don't need blockchain technology to do any of that.
In technology businesses, it is not uncommon to use the "latest thing" even if not strictly needed. Management (which often doesn't know much) likes the sound of it, and it may even draw investors- apparently what is happening with Kodak.

Of course sometimes this can be a very bad idea. For a funny example read

https://thedailywtf.com/articles/No,_We ... al_Network

NYCwriter
Posts: 153
Joined: Thu Sep 17, 2015 12:46 am

Re: Kodakcoin

Post by NYCwriter » Thu Jan 11, 2018 3:17 pm

I wonder if Kodak is trying to make itself viable for an acquisition? I did kind of forget they existed.

But aside from IBM, even GE and UTX and banks like JPM (with some throat-clearing embarrassment) are actively exploring applications of blockchain. So are the large cap tech companies.

I see ICOs less as millennial green stamps (their design) and more like millennial penny stocks with all the risks attached. But the technology is no longer conceptual. The crazy kids who gave us personal devices, the cloud, and financial technologies are now hugging the top of our total stock fund.

User avatar
Epsilon Delta
Posts: 7430
Joined: Thu Apr 28, 2011 7:00 pm

Re: Kodakcoin

Post by Epsilon Delta » Thu Jan 11, 2018 3:18 pm

adamthesmythe wrote:
Thu Jan 11, 2018 2:43 pm

In technology businesses, it is not uncommon to use the "latest thing" even if not strictly needed. Management (which often doesn't know much) likes the sound of it, and it may even draw investors- apparently what is happening with Kodak.

Of course sometimes this can be a very bad idea. For a funny example read

https://thedailywtf.com/articles/No,_We ... al_Network
It happens in not so technological business too. I spent a significant portion of my working life quietly replacing fuzzy logic controllers, neural networks, and the like with Kalman filters or simple PI controllers implemented in C.

It wasn't that the exotica didn't work, although it never worked better than the boring approach. It was that all the exotica were one offs and hard to maintain, often because the tools were expensive or would only run on Windows ME or we only had one engineer (who had since left) who understood it deaply. I had a room full of interns that understood PID controllers and another room full of engineers who understood why PI controllers were better that PID controllers.

User avatar
stemikger
Posts: 4867
Joined: Thu Apr 08, 2010 5:02 am

Re: Kodakcoin

Post by stemikger » Thu Jan 11, 2018 3:24 pm

Didn't Kodak used to make cameras? LOL

Whatever happened to them? :oops:
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

User avatar
Kenkat
Posts: 4219
Joined: Thu Mar 01, 2007 11:18 am
Location: Cincinnati, OH

Re: Kodakcoin

Post by Kenkat » Thu Jan 11, 2018 4:27 pm

stemikger wrote:
Thu Jan 11, 2018 3:24 pm
Didn't Kodak used to make cameras? LOL

Whatever happened to them? :oops:
They did, but their core business was the film and photo development technology. They tried to transition to digital cameras but too many others were selling the same or better technology.

Tanelorn
Posts: 1521
Joined: Thu May 01, 2014 9:35 pm

Re: Kodakcoin

Post by Tanelorn » Thu Jan 11, 2018 7:36 pm

alpine_boglehead wrote:
Thu Jan 11, 2018 2:36 pm
It's eye-opening that the transaction costs of a purported future currency are in the ballpark of $20.
Ether is much faster and cheaper than bitcoin.

Ztx
Posts: 34
Joined: Thu Jul 21, 2016 9:54 pm

Re: Kodakcoin

Post by Ztx » Thu Jan 11, 2018 7:45 pm

adamthesmythe wrote:
Thu Jan 11, 2018 2:43 pm
Whakamole wrote:
Thu Jan 11, 2018 12:37 pm
BHUser27 wrote:
Thu Jan 11, 2018 6:39 am
"Utilising blockchain technology, the KodakOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform," Kodak explained.

I am amazed at how much mis-information there is in this thread. Kodak is not creating "digital currency". They are using block-chain technology as a way to register, track and control digital photo assets.

It is actually an interesting use of the technology, and seems an appropriate product/service for Kodak's brand.

It is not "coin" at all really.
And you don't need blockchain technology to do any of that.
In technology businesses, it is not uncommon to use the "latest thing" even if not strictly needed. Management (which often doesn't know much) likes the sound of it, and it may even draw investors- apparently what is happening with Kodak.

Of course sometimes this can be a very bad idea. For a funny example read

https://thedailywtf.com/articles/No,_We ... al_Network
Not only is it not needed for this use case but it will make the architecture more complex and most likely slower. I think blockchain does have [limited] applications but it appears people try to use it anywhere just to get more funding.

OkieIndexer
Posts: 385
Joined: Sun Aug 23, 2009 1:10 pm

Re: Kodakcoin

Post by OkieIndexer » Thu Jan 11, 2018 7:56 pm

Kenkat wrote:
Thu Jan 11, 2018 4:27 pm
stemikger wrote:
Thu Jan 11, 2018 3:24 pm
Didn't Kodak used to make cameras? LOL

Whatever happened to them? :oops:
They did, but their core business was the film and photo development technology. They tried to transition to digital cameras but too many others were selling the same or better technology.
They also tried to make inkjet printers and compete with HP on that front. I still use a Kodak inkjet printer. It's kinda sucky, but I'm too "frugal" to buy a new one.
"In bull markets, people say 'The more risk I take, the greater my return.' But when people aren't afraid of risk, they'll accept risk without being compensated." -Howard Marks, Oaktree Capital

OkieIndexer
Posts: 385
Joined: Sun Aug 23, 2009 1:10 pm

Re: Kodakcoin

Post by OkieIndexer » Thu Jan 11, 2018 7:59 pm

Ztx wrote:
Thu Jan 11, 2018 7:45 pm
adamthesmythe wrote:
Thu Jan 11, 2018 2:43 pm
Whakamole wrote:
Thu Jan 11, 2018 12:37 pm
BHUser27 wrote:
Thu Jan 11, 2018 6:39 am
"Utilising blockchain technology, the KodakOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform," Kodak explained.

I am amazed at how much mis-information there is in this thread. Kodak is not creating "digital currency". They are using block-chain technology as a way to register, track and control digital photo assets.

It is actually an interesting use of the technology, and seems an appropriate product/service for Kodak's brand.

It is not "coin" at all really.
And you don't need blockchain technology to do any of that.
In technology businesses, it is not uncommon to use the "latest thing" even if not strictly needed. Management (which often doesn't know much) likes the sound of it, and it may even draw investors- apparently what is happening with Kodak.

Of course sometimes this can be a very bad idea. For a funny example read

https://thedailywtf.com/articles/No,_We ... al_Network
Not only is it not needed for this use case but it will make the architecture more complex and most likely slower. I think blockchain does have [limited] applications but it appears people try to use it anywhere just to get more funding.
This blockchain hoopla reminds me of the 3D printing hoopla several years ago and all the screaming about how "world changing/life changing" 3D printing was going to be. Still waiting, lol.
"In bull markets, people say 'The more risk I take, the greater my return.' But when people aren't afraid of risk, they'll accept risk without being compensated." -Howard Marks, Oaktree Capital

User avatar
arcticpineapplecorp.
Posts: 3149
Joined: Tue Mar 06, 2012 9:22 pm

Re: Kodakcoin

Post by arcticpineapplecorp. » Thu Jan 11, 2018 8:38 pm

Kenkat wrote:
Wed Jan 10, 2018 9:22 pm
Believe it or not, my son saw the release of Dogecoin on Reddit back in 2013 and mined 2.7 million Dogecoins with his gaming computer in the first few days.
well 2,700,000 X 0.011345 USD = $30,631.50.

https://coinmarketcap.com/currencies/dogecoin/

Is he planning on selling it?

Image

looks like the highest is gotten is $0.017359 per coin.

now that's what I call a penny currency.
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

Jeff Albertson
Posts: 543
Joined: Sat Apr 06, 2013 7:11 pm
Location: Springfield

Re: Kodakcoin

Post by Jeff Albertson » Thu Jan 11, 2018 9:00 pm

NPR, The Indicator, interviews Dogecoin founder, Jackson Palmer. FWIW, he owns no dogecoin.
https://www.npr.org/sections/money/2018 ... y-so-amaze

User avatar
nisiprius
Advisory Board
Posts: 36500
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: Kodakcoin

Post by nisiprius » Thu Jan 11, 2018 9:13 pm

HardHitter wrote:
Thu Jan 11, 2018 1:29 am
...there are plenty of coins which have a purpose and are in use by top companies and institutions...
Please name a coin, its purpose, and the top company that is actually using it now for that purpose.

Not an announcement (Kodak; the government of Venezuela). Not a pilot project (RE/Max London). Not a cautious experiment or skunkworks project (Fidelity). Not a vast chain that allows individual franchisees enough autonomy so that with three out of 45,000 locations accept cryptocurrency (Subway). Not a company that signs up with a payment processor so they can say they "accept bitcoin," with no evidence that it is an important part of their business.
As much as we like to think this is a bubble, people are making tons of money with little investment needed.
This happens in every bubble. The fact that some people are making tons of money doesn't prove that it isn't a bubble. Bubbles normally are vast engines of wealth transfer. The question is, from whom to whom, and why should I think I will be on the receiving end?

I also question how many of those people have really made tons of money, i.e. have successfully sold their cryptocurrency holdings to willing buyers and make a fiat-money profit.

Suppose I said, "every day, as much as we like to think the state lottery is a gamble, people are making tons of money in state lotteries with little investment needed." What would your reaction be? How is this different from what you said?
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

User avatar
nisiprius
Advisory Board
Posts: 36500
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: Kodakcoin

Post by nisiprius » Thu Jan 11, 2018 9:24 pm

BHUser27 wrote:
Thu Jan 11, 2018 6:39 am
...It is not "coin" at all really...
And by calling it KodakCoin they certainly have done their best to help the investment community understand what it is. <--- irony.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

User avatar
Kenkat
Posts: 4219
Joined: Thu Mar 01, 2007 11:18 am
Location: Cincinnati, OH

Re: Kodakcoin

Post by Kenkat » Thu Jan 11, 2018 9:41 pm

arcticpineapplecorp. wrote:
Thu Jan 11, 2018 8:38 pm
Kenkat wrote:
Wed Jan 10, 2018 9:22 pm
Believe it or not, my son saw the release of Dogecoin on Reddit back in 2013 and mined 2.7 million Dogecoins with his gaming computer in the first few days.
well 2,700,000 X 0.011345 USD = $30,631.50.

https://coinmarketcap.com/currencies/dogecoin/

Is he planning on selling it?

Image

looks like the highest is gotten is $0.017359 per coin.

now that's what I call a penny currency.
He swapped some for Bitcoin and Litecoin and sold some off when Bitcoin got to $1000. At the time it was more of a fun hobby; he never really thought any of these cryptos would have gone so high. He still has a modest stash worth several thousand which still blows my mind.

HardHitter
Posts: 451
Joined: Wed Jan 08, 2014 11:41 pm

Re: Kodakcoin

Post by HardHitter » Thu Jan 11, 2018 11:17 pm

nisiprius wrote:
Thu Jan 11, 2018 9:13 pm
HardHitter wrote:
Thu Jan 11, 2018 1:29 am
...there are plenty of coins which have a purpose and are in use by top companies and institutions...
Please name a coin, its purpose, and the top company that is actually using it now for that purpose.

Not an announcement (Kodak; the government of Venezuela). Not a pilot project (RE/Max London). Not a cautious experiment or skunkworks project (Fidelity). Not a vast chain that allows individual franchisees enough autonomy so that with three out of 45,000 locations accept cryptocurrency (Subway). Not a company that signs up with a payment processor so they can say they "accept bitcoin," with no evidence that it is an important part of their business.
As much as we like to think this is a bubble, people are making tons of money with little investment needed.
This happens in every bubble. The fact that some people are making tons of money doesn't prove that it isn't a bubble. Bubbles normally are vast engines of wealth transfer. The question is, from whom to whom, and why should I think I will be on the receiving end?

I also question how many of those people have really made tons of money, i.e. have successfully sold their cryptocurrency holdings to willing buyers and make a fiat-money profit.

Suppose I said, "every day, as much as we like to think the state lottery is a gamble, people are making tons of money in state lotteries with little investment needed." What would your reaction be? How is this different from what you said?
Look up Ripple/XRP. This is a company who goes against the whole "decentralized" concept that is built around crypto however they are dealing with banks and major financial institutions, looking to replace legacy technology that is SWIFT. With their RippleNet and XRP currency, their purpose is to cut banks transaction fees and complete transactions within seconds in comparison to 2-3 days currently. They've been working with banks worldwide both piloting and already with implementation. They just announced another partnership with MoneyGram today.

In regards to your question around how many people have made tons of money, it is easy getting your money to USD and I've already done so. Why is it perceived that it would be difficulty to get your money to USD?

As I and many others have mentioned previously, there are plenty of BS coins that are in the market right now, but that is the reason why you need to do your due diligence before investing. Too many of the general public hear about Bitcoin and think all other coins are exactly like it, but Bitcoin is completely opposite from every other coin in the market.

Ztx
Posts: 34
Joined: Thu Jul 21, 2016 9:54 pm

Re: Kodakcoin

Post by Ztx » Thu Jan 11, 2018 11:59 pm

HardHitter wrote:
Thu Jan 11, 2018 11:17 pm
nisiprius wrote:
Thu Jan 11, 2018 9:13 pm
HardHitter wrote:
Thu Jan 11, 2018 1:29 am
...there are plenty of coins which have a purpose and are in use by top companies and institutions...
Please name a coin, its purpose, and the top company that is actually using it now for that purpose.

Not an announcement (Kodak; the government of Venezuela). Not a pilot project (RE/Max London). Not a cautious experiment or skunkworks project (Fidelity). Not a vast chain that allows individual franchisees enough autonomy so that with three out of 45,000 locations accept cryptocurrency (Subway). Not a company that signs up with a payment processor so they can say they "accept bitcoin," with no evidence that it is an important part of their business.
As much as we like to think this is a bubble, people are making tons of money with little investment needed.
This happens in every bubble. The fact that some people are making tons of money doesn't prove that it isn't a bubble. Bubbles normally are vast engines of wealth transfer. The question is, from whom to whom, and why should I think I will be on the receiving end?

I also question how many of those people have really made tons of money, i.e. have successfully sold their cryptocurrency holdings to willing buyers and make a fiat-money profit.

Suppose I said, "every day, as much as we like to think the state lottery is a gamble, people are making tons of money in state lotteries with little investment needed." What would your reaction be? How is this different from what you said?
Look up Ripple/XRP. This is a company who goes against the whole "decentralized" concept that is built around crypto however they are dealing with banks and major financial institutions, looking to replace legacy technology that is SWIFT. With their RippleNet and XRP currency, their purpose is to cut banks transaction fees and complete transactions within seconds in comparison to 2-3 days currently. They've been working with banks worldwide both piloting and already with implementation. They just announced another partnership with MoneyGram today.

In regards to your question around how many people have made tons of money, it is easy getting your money to USD and I've already done so. Why is it perceived that it would be difficulty to get your money to USD?

As I and many others have mentioned previously, there are plenty of BS coins that are in the market right now, but that is the reason why you need to do your due diligence before investing. Too many of the general public hear about Bitcoin and think all other coins are exactly like it, but Bitcoin is completely opposite from every other coin in the market.

I don't think it's a technical challenge to replace SWIFT and make transfers faster. For example, I can send people money through Zelle or even Facebook within seconds. One certainly doesn't need a blockchain based coin to facilitate instant transfers. It seems to be banks don't want to do that (increasing transfer speed) so they can keep the money longer and charge massive fees.

HardHitter
Posts: 451
Joined: Wed Jan 08, 2014 11:41 pm

Re: Kodakcoin

Post by HardHitter » Fri Jan 12, 2018 12:24 am

Ztx wrote:
Thu Jan 11, 2018 11:59 pm
HardHitter wrote:
Thu Jan 11, 2018 11:17 pm
nisiprius wrote:
Thu Jan 11, 2018 9:13 pm
HardHitter wrote:
Thu Jan 11, 2018 1:29 am
...there are plenty of coins which have a purpose and are in use by top companies and institutions...
Please name a coin, its purpose, and the top company that is actually using it now for that purpose.

Not an announcement (Kodak; the government of Venezuela). Not a pilot project (RE/Max London). Not a cautious experiment or skunkworks project (Fidelity). Not a vast chain that allows individual franchisees enough autonomy so that with three out of 45,000 locations accept cryptocurrency (Subway). Not a company that signs up with a payment processor so they can say they "accept bitcoin," with no evidence that it is an important part of their business.
As much as we like to think this is a bubble, people are making tons of money with little investment needed.
This happens in every bubble. The fact that some people are making tons of money doesn't prove that it isn't a bubble. Bubbles normally are vast engines of wealth transfer. The question is, from whom to whom, and why should I think I will be on the receiving end?

I also question how many of those people have really made tons of money, i.e. have successfully sold their cryptocurrency holdings to willing buyers and make a fiat-money profit.

Suppose I said, "every day, as much as we like to think the state lottery is a gamble, people are making tons of money in state lotteries with little investment needed." What would your reaction be? How is this different from what you said?
Look up Ripple/XRP. This is a company who goes against the whole "decentralized" concept that is built around crypto however they are dealing with banks and major financial institutions, looking to replace legacy technology that is SWIFT. With their RippleNet and XRP currency, their purpose is to cut banks transaction fees and complete transactions within seconds in comparison to 2-3 days currently. They've been working with banks worldwide both piloting and already with implementation. They just announced another partnership with MoneyGram today.

In regards to your question around how many people have made tons of money, it is easy getting your money to USD and I've already done so. Why is it perceived that it would be difficulty to get your money to USD?

As I and many others have mentioned previously, there are plenty of BS coins that are in the market right now, but that is the reason why you need to do your due diligence before investing. Too many of the general public hear about Bitcoin and think all other coins are exactly like it, but Bitcoin is completely opposite from every other coin in the market.

I don't think it's a technical challenge to replace SWIFT and make transfers faster. For example, I can send people money through Zelle or even Facebook within seconds. One certainly doesn't need a blockchain based coin to facilitate instant transfers. It seems to be banks don't want to do that (increasing transfer speed) so they can keep the money longer and charge massive fees.
No doubt there are other means that you mention (PayPal, Apple Pay, Venmo, etc.) but those are just middlemen in the transaction. Sending cash that you've transacted using that is still a 2-3 day ordeal when you want to send it to your bank. Additionally, it isn't really geared towards people like us but large institutions, businesses, etc.

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Kodakcoin

Post by mws13 » Fri Jan 12, 2018 4:06 am

NYCwriter wrote:
Thu Jan 11, 2018 1:50 pm
IBM really needs to change its listing to International Blockchain Machine. It'll be like the 80s again! (sarcasm)
Well they have not changed their name, but IBM is very involved: https://www.ibm.com/blockchain/

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Kodakcoin

Post by mws13 » Fri Jan 12, 2018 4:39 am

nisiprius wrote:
Thu Jan 11, 2018 9:13 pm

I also question how many of those people have really made tons of money, i.e. have successfully sold their cryptocurrency holdings to willing buyers and make a fiat-money profit.
I am personally at the "next level" having sold enough Crypto into USD, and I have no interest in converting additional Crypto Assets into USD. At least for today. My portfolio is basically:
  • Vanguard assets
  • Real Estate
  • Crypto Assets
I am hoping to sell all our current real estate in 2018, and then re-balance. We sold our main house and rent where we live. I am not sure how much real estate I want to hold in the future until I see the real effects of the new tax laws and I would like to see some of the cost of holding real estate to come down. The blockchain is the perfect system to create more efficient asset transfers, but legacy systems in real estate in the USA will not change quickly. Real Estate was a fantastic asset for us as a growing family, but those parameters have changed - kids leaving home and the desire for the "statement property" is long gone. We like small now with a nice view :)

The BIG POINT is - Crypto Assets are an asset class that I want to hold long term. I still own Bitcoin/BTC, but I don't see me buying any additional BTC as the others (Ethereum, Bitcoin Cash, maybe Monero) have more potential for dApps (distributed apps).

My current view is that owning Ethereum is like owning Power Plants in the 1900's. Those power plants fueled the industrial revolution. I want to own that, and that is the power of Crypto Assets, all/most can own a small piece of the power plants today.

I have been wrong before and Ethereum could get replaced 2 or 3 times by better technologies, but that is my view today.

The Kodakcoin makes sense to me, but I have no interest in it other than seeing that a real application for asset transfer and ownership is being built on a blockchain.

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Kodakcoin

Post by mws13 » Fri Jan 12, 2018 8:05 am

Epsilon Delta wrote:
Thu Jan 11, 2018 2:38 pm
mws13 wrote:
Thu Jan 11, 2018 5:08 am

If you look at my post, I am a strong Advocate for "Crypto Assets" and their potential to:
  • Bank the un-bankable world
I'd strongly disagree with this one.

That's not to say crypto can't serve the unbanked, but at best it can serve the unbanked the way a dollar bill serves the unbanked, not the way a bank would.
Not really, because you are the bank on SOME/MOST Crypto Assets. There is no Middleman, if you want to do the work. The USD (cash dollar bill) is issued by the Federal Reserve (a centralized authority) and there is very occasional counterfeiting. The good news is the US Government can throw counterfeiters in jail and the US Government also has a US Military to support that US dollar - cash bills, electronic US Dollars, and US dollar based assets (real estate and shipping channels (by US Navy) for example).

In Crypto Assets (some, not all), it is a decentralized app that is confirmed and issued by the network. The power is the network, not a centralized authority. There is no counterfeiting ON THE NETWORK. Off the network (changing to USD and such) is where the weakness in the system is today. Human error is a real problem with Crypto. It is very cumbersome for a lay person to use it.

Again, I am not advocating for 100% Crypto and in fact I have a son who serves in the US Military. I see value in having a portfolio of BOTH Crypto Assets and USD Assets.

ShenziNation

Re: Kodakcoin

Post by ShenziNation » Fri Jan 12, 2018 8:55 am

NYCwriter wrote:
Thu Jan 11, 2018 1:50 pm
IBM really needs to change its listing to International Blockchain Machine. It'll be like the 80s again! (sarcasm)
They've been doing blockchain for industry implementations for a while.
https://www.ibm.com/blockchain/

They should rename to Industrial Blockchain Monkeys/Muppets.

HardHitter
Posts: 451
Joined: Wed Jan 08, 2014 11:41 pm

Re: Kodakcoin

Post by HardHitter » Fri Jan 12, 2018 9:57 am

bad78andy wrote:
Fri Jan 12, 2018 8:55 am
NYCwriter wrote:
Thu Jan 11, 2018 1:50 pm
IBM really needs to change its listing to International Blockchain Machine. It'll be like the 80s again! (sarcasm)
They've been doing blockchain for industry implementations for a while.
https://www.ibm.com/blockchain/

They should rename to Industrial Blockchain Monkeys/Muppets.
In addition to that, IBM has partnered with Stellar which is one of the cryptos I hold in my portfolio (currently up 103% since initial purchase back in December '17)

http://www-03.ibm.com/press/us/en/press ... /53290.wss

2018 will be a big year in which you'll see major adoption and investment by corporations into blockchain, my company included (big 4 accounting firm) has blockchain as one of our SGIs for 2018. The normal population, who has no knowledge of any of this, will only think of cryptos as bitcoin and they are misinformed.

I'd invite everyone to take a look at some of the coins and read their whitepapers and what they are looking to accomplish. Look at the real use-case scenarios and for those that are developed enough, how they are actually being used in the real world at this moment.

As I noted, at the moment, crypto is the wild west of normal people making thousands/millions of dollars. They don't care about the technology or the road map, they are just invested to get the money and get out. In the long run, this technology is here to stay and those who hold and invest in the right companies will reap the benefit of those who were early adopters and holders of Bitcoin.

wrongfunds
Posts: 1731
Joined: Tue Dec 21, 2010 3:55 pm

Re: Kodakcoin

Post by wrongfunds » Fri Jan 12, 2018 10:22 am

Am I wrong in my assumption that current Kodak company has nothing to do with its former glory aka the rights to the Kodak name were purchased by some foreign investor group aka similar to Polaroid ?

User avatar
Epsilon Delta
Posts: 7430
Joined: Thu Apr 28, 2011 7:00 pm

Re: Kodakcoin

Post by Epsilon Delta » Fri Jan 12, 2018 1:34 pm

mws13 wrote:
Fri Jan 12, 2018 8:05 am
Epsilon Delta wrote:
Thu Jan 11, 2018 2:38 pm
mws13 wrote:
Thu Jan 11, 2018 5:08 am

If you look at my post, I am a strong Advocate for "Crypto Assets" and their potential to:
  • Bank the un-bankable world
I'd strongly disagree with this one.

That's not to say crypto can't serve the unbanked, but at best it can serve the unbanked the way a dollar bill serves the unbanked, not the way a bank would.
Not really, because you are the bank on SOME/MOST Crypto Assets. There is no Middleman, if you want to do the work.
Banks do more than facilitate transactions. They let you save money, with interest and they provide loans. They deal with errors and scams of various kinds. They also store money in a safe place. A crypto currency key (or a password that allows access to the key) is basically a bearer instrument, like a pile of dollar bills. If you store the keys at home your open to burglary, if you keep the keys on your person your subject to mugging. If you keep it in a safe deposit box your using a bank.

The unbanked can't be a bank, at least they can't be a good bank, since they do not have the resources.

User avatar
nisiprius
Advisory Board
Posts: 36500
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: Kodakcoin

Post by nisiprius » Fri Jan 12, 2018 1:49 pm

wrongfunds wrote:
Fri Jan 12, 2018 10:22 am
Am I wrong in my assumption that current Kodak company has nothing to do with its former glory aka the rights to the Kodak name were purchased by some foreign investor group aka similar to Polaroid ?
Wikipedia:
In January 2012, Kodak filed for Chapter 11 bankruptcy protection in the United States District Court for the Southern District of New York. In February 2012, Kodak announced that it would stop making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market. In August 2012, Kodak announced its intention to sell its photographic film, commercial scanners and kiosk operations, as a measure to emerge from bankruptcy, but not its motion picture film operations.[16] In January 2013, the Court approved financing for Kodak to emerge from bankruptcy by mid 2013. Kodak sold many of its patents for approximately $525,000,000 to a group of companies (including Apple, Google, Facebook, Amazon, Microsoft, Samsung, Adobe Systems and HTC) under the names Intellectual Ventures and RPX Corporation. On September 3, 2013, the company emerged from bankruptcy having shed its large legacy liabilities and exited several businesses. Personalized Imaging and Document Imaging are now part of Kodak Alaris, a separate company owned by the UK-based Kodak Pension Plan.
I'm not sure if there's a thin thread connecting it with its former glory...
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

User avatar
nisiprius
Advisory Board
Posts: 36500
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: Kodakcoin

Post by nisiprius » Fri Jan 12, 2018 1:57 pm

Epsilon Delta wrote:
Fri Jan 12, 2018 1:34 pm
...A crypto currency key (or a password that allows access to the key) is basically a bearer instrument, like a pile of dollar bills...
Just to be clear: bitcoin can be stolen? Bitcoin can even be stolen without your knowledge? If someone gets a copy of your key, they could cash in your bitcoin and you might not know it until you tried to do it yourself and found that the account was empty?

And if the key is lost the bitcoin it is literally unrecoverable, by you or by anybody else?
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

ShenziNation

Re: Kodakcoin

Post by ShenziNation » Fri Jan 12, 2018 2:35 pm

HardHitter wrote:
Fri Jan 12, 2018 9:57 am
bad78andy wrote:
Fri Jan 12, 2018 8:55 am
NYCwriter wrote:
Thu Jan 11, 2018 1:50 pm
IBM really needs to change its listing to International Blockchain Machine. It'll be like the 80s again! (sarcasm)
They've been doing blockchain for industry implementations for a while.
https://www.ibm.com/blockchain/

They should rename to Industrial Blockchain Monkeys/Muppets.
In addition to that, IBM has partnered with Stellar which is one of the cryptos I hold in my portfolio (currently up 103% since initial purchase back in December '17)

http://www-03.ibm.com/press/us/en/press ... /53290.wss

2018 will be a big year in which you'll see major adoption and investment by corporations into blockchain, my company included (big 4 accounting firm) has blockchain as one of our SGIs for 2018. The normal population, who has no knowledge of any of this, will only think of cryptos as bitcoin and they are misinformed.

I'd invite everyone to take a look at some of the coins and read their whitepapers and what they are looking to accomplish. Look at the real use-case scenarios and for those that are developed enough, how they are actually being used in the real world at this moment.

As I noted, at the moment, crypto is the wild west of normal people making thousands/millions of dollars. They don't care about the technology or the road map, they are just invested to get the money and get out. In the long run, this technology is here to stay and those who hold and invest in the right companies will reap the benefit of those who were early adopters and holders of Bitcoin.
All well and good, but how do I buy XLM directly without the convoluted method of first buying a coin like BTC or ETH? Because liquidating would be a pain too. Plus the exchanges having issues and pausing activity doesn't lend any confidence.
What will the XLM currency be used for? As in that link example, does the farmer in Country A have to buy XLM to conduct a trade with a buyer in Country B? That means that there's constant pain points of buying and selling XLM. Why not just make a trade in an international currency? I see the point of blockchain, but not much is said about how XLM is being used, except for near-instantaneous settlement of the transaction.

Having family members on the IBM Watson technical team, I can tell with enough confidence that the company is chock full of management and egos that override the techies. Also, another family member is on the BlockChain sales team; he is a numero uno example finest of selling baloney sandwiches.

However, you've spiked my interest about XLM; tell me more. I have play money for this.

jasc15
Posts: 377
Joined: Wed Dec 19, 2012 1:36 pm

Re: Kodakcoin

Post by jasc15 » Fri Jan 12, 2018 3:56 pm

NYCwriter wrote:
Thu Jan 11, 2018 3:17 pm
I wonder if Kodak is trying to make itself viable for an acquisition? I did kind of forget they existed.
This was an interesting read:
https://www.nytimes.com/2015/03/22/business/at-kodak-clinging-to-a-future-beyond-film.html wrote:Mr. Clarke has no delusions that Kodak could bring those technologies to market on its own; it will need corporate partners to make actual products. “We’ll never be able to prosecute the value of our intellectual property with Kodak-branded sales,”

User avatar
HomerJ
Posts: 11575
Joined: Fri Jun 06, 2008 12:50 pm

Re: Kodakcoin

Post by HomerJ » Fri Jan 12, 2018 4:30 pm

mws13 wrote:
Fri Jan 12, 2018 4:39 am
My current view is that owning Ethereum is like owning Power Plants in the 1900's. Those power plants fueled the industrial revolution. I want to own that, and that is the power of Crypto Assets, all/most can own a small piece of the power plants today.
Blockchain may be the new power plant technology.

Ethereum is not.

Ethereum could be the one of the original DC power plant designs before better AC power plants were invented.
I have been wrong before and Ethereum could get replaced 2 or 3 times by better technologies, but that is my view today.
Correct. The risk is very high. Plenty of people thought Bitcoin was THE technology. Then its flaws became apparent, and now people are moving on to new crypto-currencies, which may also be replaced.

You are taking a large risk if you have a significant amount of your net worth in Ethereum. You may get a large reward, or you may lose a huge chunk.

I hope you are prepared to lose the large chunk. If losing it will have no impact on your life, fine. If losing that chunk of money will require you to tell your wife "Honey, we're going to have to give up our fine view and move because I gambled and lost a bunch of money", I would suggest getting out now.

User avatar
HomerJ
Posts: 11575
Joined: Fri Jun 06, 2008 12:50 pm

Re: Kodakcoin

Post by HomerJ » Fri Jan 12, 2018 4:33 pm

HardHitter wrote:
Fri Jan 12, 2018 9:57 am
those who hold and invest in the right companies
Ah, it's easy then! Just buy the right companies, and avoid the wrong ones!

"Buy the right companies, wait until it goes up, then sell some. If it don't go up, don't buy it"

- Apologies to Will Rogers

User avatar
HomerJ
Posts: 11575
Joined: Fri Jun 06, 2008 12:50 pm

Re: Kodakcoin

Post by HomerJ » Fri Jan 12, 2018 4:37 pm

nisiprius wrote:
Fri Jan 12, 2018 1:57 pm
Epsilon Delta wrote:
Fri Jan 12, 2018 1:34 pm
...A crypto currency key (or a password that allows access to the key) is basically a bearer instrument, like a pile of dollar bills...
Just to be clear: bitcoin can be stolen? Bitcoin can even be stolen without your knowledge? If someone gets a copy of your key, they could cash in your bitcoin and you might not know it until you tried to do it yourself and found that the account was empty?

And if the key is lost the bitcoin it is literally unrecoverable, by you or by anybody else?
Yes, this is a real problem. If you keep your key in a wallet on an Exchange, you risk the Exchange being hacked, and you lose your money. There is no FDIC. Your money is gone.

If you keep your key on a hardware wallet (a USB stick), you risk losing the USB stick or having it stolen.

For the exact same reason I wouldn't keep $100,000 in cash in my house, I also wouldn't want to have a USB stick with $100,000 in crytpo-currency on it.

Sockpuppet
Posts: 110
Joined: Mon Oct 23, 2017 9:06 pm

Re: Kodakcoin

Post by Sockpuppet » Fri Jan 12, 2018 4:41 pm

Pajamas wrote:
Thu Jan 11, 2018 2:24 pm
Cryptocurrency is becoming the S&H Green Stamps for the new millennium. . . .
Green Stamps were awesome.

If you could collect delightful items for accruing cryptocurrencies it would make more sense to me.

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Kodakcoin

Post by mws13 » Fri Jan 12, 2018 5:27 pm

bad78andy wrote:
Fri Jan 12, 2018 2:35 pm

However, you've spiked my interest about XLM; tell me more. I have play money for this.
Good article on how, if, the Dow companies are involved on the blockchain:

https://www.marketwatch.com/story/heres ... 2018-01-11

User avatar
telemark
Posts: 2300
Joined: Sat Aug 11, 2012 6:35 am

Re: Kodakcoin

Post by telemark » Fri Jan 12, 2018 6:02 pm

Epsilon Delta wrote:
Fri Jan 12, 2018 1:34 pm
mws13 wrote:
Fri Jan 12, 2018 8:05 am
Epsilon Delta wrote:
Thu Jan 11, 2018 2:38 pm
mws13 wrote:
Thu Jan 11, 2018 5:08 am

If you look at my post, I am a strong Advocate for "Crypto Assets" and their potential to:
  • Bank the un-bankable world
I'd strongly disagree with this one.

That's not to say crypto can't serve the unbanked, but at best it can serve the unbanked the way a dollar bill serves the unbanked, not the way a bank would.
Not really, because you are the bank on SOME/MOST Crypto Assets. There is no Middleman, if you want to do the work.
Banks do more than facilitate transactions. They let you save money, with interest and they provide loans. They deal with errors and scams of various kinds. They also store money in a safe place. A crypto currency key (or a password that allows access to the key) is basically a bearer instrument, like a pile of dollar bills. If you store the keys at home your open to burglary, if you keep the keys on your person your subject to mugging. If you keep it in a safe deposit box your using a bank.

The unbanked can't be a bank, at least they can't be a good bank, since they do not have the resources.
This is key. I can't open a savings account with myself and pay myself interest, or take out a mortgage from myself with payments to the Bank of Me, pool risk with myself and all the other me's, expand my business with a loan from myself, I could go on. Banks are in the business of pooling and managing risks, transforming risky loans into safe interest-bearing deposits. Cryptocurrency does exactly nothing to change that, or to eliminate the need for that.

User avatar
Kenkat
Posts: 4219
Joined: Thu Mar 01, 2007 11:18 am
Location: Cincinnati, OH

Re: Kodakcoin

Post by Kenkat » Fri Jan 12, 2018 8:25 pm

HomerJ wrote:
Fri Jan 12, 2018 4:37 pm
nisiprius wrote:
Fri Jan 12, 2018 1:57 pm
Epsilon Delta wrote:
Fri Jan 12, 2018 1:34 pm
...A crypto currency key (or a password that allows access to the key) is basically a bearer instrument, like a pile of dollar bills...
Just to be clear: bitcoin can be stolen? Bitcoin can even be stolen without your knowledge? If someone gets a copy of your key, they could cash in your bitcoin and you might not know it until you tried to do it yourself and found that the account was empty?

And if the key is lost the bitcoin it is literally unrecoverable, by you or by anybody else?
Yes, this is a real problem. If you keep your key in a wallet on an Exchange, you risk the Exchange being hacked, and you lose your money. There is no FDIC. Your money is gone.

If you keep your key on a hardware wallet (a USB stick), you risk losing the USB stick or having it stolen.

For the exact same reason I wouldn't keep $100,000 in cash in my house, I also wouldn't want to have a USB stick with $100,000 in crytpo-currency on it.
Yes, you could also be “The unlucky man who accidentally threw away bitcoin worth $100 million...”:

http://www.telegraph.co.uk/technology/2 ... 0-million/

User avatar
arcticpineapplecorp.
Posts: 3149
Joined: Tue Mar 06, 2012 9:22 pm

Re: Kodakcoin

Post by arcticpineapplecorp. » Fri Jan 12, 2018 10:46 pm

Kenkat wrote:
Thu Jan 11, 2018 9:41 pm
He swapped some for Bitcoin and Litecoin and sold some off when Bitcoin got to $1000. At the time it was more of a fun hobby; he never really thought any of these cryptos would have gone so high. He still has a modest stash worth several thousand which still blows my mind.
Does he regret selling some of the bitcoin at $1000 now that it's at $14,000?

I'm only wondering because he should realize that he left an awful lot of money on the table selling at 1/14th the price that he could have. Now this is only known in hindsight of course, but this is the point of not owning bitcoin or individual stocks. You never know if you're selling too low or holding too long (before it goes down)...because there's no way to value these things. If you can't properly value them how do you know if you're getting a good value when you buy and/or sell?
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

User avatar
unclescrooge
Posts: 2388
Joined: Thu Jun 07, 2012 7:00 pm

Re: Kodakcoin

Post by unclescrooge » Sat Jan 13, 2018 2:52 am

Teague wrote:
Wed Jan 10, 2018 7:51 pm
Time for SearsCoin. RadioShackoin. JCPennyCoin. KMartCoin. And various other HailMaryCoins.
And also Scroogecoin!

User avatar
Kenkat
Posts: 4219
Joined: Thu Mar 01, 2007 11:18 am
Location: Cincinnati, OH

Re: Kodakcoin

Post by Kenkat » Sat Jan 13, 2018 10:01 am

arcticpineapplecorp. wrote:
Fri Jan 12, 2018 10:46 pm
Kenkat wrote:
Thu Jan 11, 2018 9:41 pm
He swapped some for Bitcoin and Litecoin and sold some off when Bitcoin got to $1000. At the time it was more of a fun hobby; he never really thought any of these cryptos would have gone so high. He still has a modest stash worth several thousand which still blows my mind.
Does he regret selling some of the bitcoin at $1000 now that it's at $14,000?

I'm only wondering because he should realize that he left an awful lot of money on the table selling at 1/14th the price that he could have. Now this is only known in hindsight of course, but this is the point of not owning bitcoin or individual stocks. You never know if you're selling too low or holding too long (before it goes down)...because there's no way to value these things. If you can't properly value them how do you know if you're getting a good value when you buy and/or sell?
A little regret but as I said, he did it as a hobby. There was no thought of investment at all. There still isn’t honestly. He mined them essentially for free save a little electricity.

There will always be those kinds of regrets - what if I had bought Google or Apple or Amazon at it’s startup price? What if I had bought $1000 or $10000 of Bitcoin when it was $10? He realizes there is no way of knowing the future and no point in those what if regrets.

HardHitter
Posts: 451
Joined: Wed Jan 08, 2014 11:41 pm

Re: Kodakcoin

Post by HardHitter » Sat Jan 13, 2018 10:22 am

bad78andy wrote:
Fri Jan 12, 2018 2:35 pm
HardHitter wrote:
Fri Jan 12, 2018 9:57 am
bad78andy wrote:
Fri Jan 12, 2018 8:55 am
NYCwriter wrote:
Thu Jan 11, 2018 1:50 pm
IBM really needs to change its listing to International Blockchain Machine. It'll be like the 80s again! (sarcasm)
They've been doing blockchain for industry implementations for a while.
https://www.ibm.com/blockchain/

They should rename to Industrial Blockchain Monkeys/Muppets.
In addition to that, IBM has partnered with Stellar which is one of the cryptos I hold in my portfolio (currently up 103% since initial purchase back in December '17)

http://www-03.ibm.com/press/us/en/press ... /53290.wss

2018 will be a big year in which you'll see major adoption and investment by corporations into blockchain, my company included (big 4 accounting firm) has blockchain as one of our SGIs for 2018. The normal population, who has no knowledge of any of this, will only think of cryptos as bitcoin and they are misinformed.

I'd invite everyone to take a look at some of the coins and read their whitepapers and what they are looking to accomplish. Look at the real use-case scenarios and for those that are developed enough, how they are actually being used in the real world at this moment.

As I noted, at the moment, crypto is the wild west of normal people making thousands/millions of dollars. They don't care about the technology or the road map, they are just invested to get the money and get out. In the long run, this technology is here to stay and those who hold and invest in the right companies will reap the benefit of those who were early adopters and holders of Bitcoin.
All well and good, but how do I buy XLM directly without the convoluted method of first buying a coin like BTC or ETH? Because liquidating would be a pain too. Plus the exchanges having issues and pausing activity doesn't lend any confidence.
What will the XLM currency be used for? As in that link example, does the farmer in Country A have to buy XLM to conduct a trade with a buyer in Country B? That means that there's constant pain points of buying and selling XLM. Why not just make a trade in an international currency? I see the point of blockchain, but not much is said about how XLM is being used, except for near-instantaneous settlement of the transaction.

Having family members on the IBM Watson technical team, I can tell with enough confidence that the company is chock full of management and egos that override the techies. Also, another family member is on the BlockChain sales team; he is a numero uno example finest of selling baloney sandwiches.

However, you've spiked my interest about XLM; tell me more. I have play money for this.
To address a few points/questions you had:

1. How do I buy XLM Directrly
- At the moment you can't. That goes for the majority of the alt coins you are seeing in the crypto world. You have your "big 3" (Bitcoin, Litecoin, Ethereum and now Bitcoin Cash) which for normal consumers, they just used the exchange Coinbase. Coinbase is the most simply way to get involved in the crypto world and is why Coinbase is a huge benefit if one of these alt coins get added. It opens up the world to doing a USD to Crypto purchase. I agree there is complexity in getting invested into Alt Coins (USD to BTC/ETH then send to exchange then exchange BTC/ETH for alt coin) but in my opinion and from my experience, I've never had a problem with liquidity. When I wanted to take money out of my alt coin, I did it within seconds to get my ETH. Send the ETH to Coinbase/GDax and then sell your ETH to USD and you're done.

2. What will the XLM currency be used for?
- Similar to most crypto coins, they will be the "bridge" in the transaction. In your example, when sending money, from one currency to another, it gets converted into Lumens (Stellar's currency), transacted and then converted back to the currency in need (Euro, Pound, etc.) The majority of these coins are not being used as the front facing currency and are used as a background currency to complete the transactions. So to consumers, they are still using USD or whatever their currency is, but when the transaction occurs, in the background its performing the above. This is why its so different when people think about Bitcoin because Bitcoin wants to become a standard currency used to make everyday purchases in the foreground. I think this is going to be really hard for "older generations" to understand, however for the newer generation, who grow up using Apple Pay, Samsung Pay, etc. Instead of withdrawing from your bank account, it can withdraw from your Bitcoin wallet. The risk with Bitcoin is its volatility. No one is going to deposit $50 into their Bitcoin wallet to go out to buy something and then by the time they get there, now only have $30 because there is a dip. I think the majority of these companies know that and is why they aren't being used in any type of purchases that take time. Their conversion happens instantly when the consumer wants to do it and therefore it avoids the risk of volatility.

So why did I invest in XLM? There were two main reasons in addition to the overall road map of Stellar which is the partnership/backing from IBM and then the FairX exchange (Google it).

In summary, FairX is a new exchange that is being developed in which people will be able to use fiat currency to purchase their coins via Lumens. A consumer will purchase Lumens using USD and then trade it in the same exchange for their alt coins. This eliminates the "complexity" of standard consumers not understanding how to buy from Coinbase and then transferring to another exchange and then buying.

inbox788
Posts: 5413
Joined: Thu Mar 15, 2012 5:24 pm

Re: Kodakcoin

Post by inbox788 » Sat Jan 13, 2018 2:30 pm

nisiprius wrote:
Wed Jan 10, 2018 11:55 am
Yes, and I keep thinking "they couldn't even give it a good name." KodakCoin is virtually unpronounceable. Given the heritage of Kodacolor and Kodachrome (it has even gotten its name on the landscape, Kodachrome Basin in Utah), they obviously should have called it "Kodacoin." Idiots.
They'll probably hire a consulting company and pay them a million dollars to take out that "k".

You'd think you use Kodacoin to take pictures of coins and message them to others for payment. Kodabills would be the pictures of the bills. Kodapiles would be piles of Kodacash.

BTW, I didn't know Kodak came out of bankrupcy and thought they went the way of the dinosaur and the record player.

https://www.target.com/s?searchTerm=record+player (limited stock buy in store at a store near me!) (15 items!)
https://www.target.com/s?searchTerm=kodak (only 10 items)
Soaker wrote:
Wed Jan 10, 2018 7:16 pm
Closing prices of Eastman Kodak (KODK) stock:

Monday: $3.10
Yesterday: $6.80
Today: $10.70

Attention, Bogleheads! Many of us are in!! :moneybag :moneybag According to Morningstar, as of 11/30/2017, Vanguard Total Stock Market held 2.13% of the shares and Vanguard Small Cap Index held 0.98% of the shares. They were the 3rd and 5th largest shareholders, respectively.
Wonderful! Their market cap went from $100M to $300M! That should increase our gains in VTSMX by 0.0000002%. BTW, Vol / Avg. 13.26M/7.01M, Shares 42.57M. Basically 1/3 of owners changed yesterday. And on a typical day 1/6! Also using Monday price and 30 day historic volume, you get $3.10x7.01M ~= $21M traded historically on a $100M company!?! That's 1/5 market cap dollars daily!
alpine_boglehead wrote:
Thu Jan 11, 2018 2:36 pm
It's eye-opening that the transaction costs of a purported future currency are in the ballpark of $20.
I don't understand this crytocurrency nonsense, but having a high transaction cost by itself doesn't invalidate the idea that it can become the future current, only that the transactions that will use it will be high as well (say purchase cars, homes, businesses, etc.). It can also serve as the backing currency for other less costly transnational currencies, like using hundred dollar bills or higher to buy Starbucks gift cards to buy a cup of coffee.

Teague
Posts: 1111
Joined: Wed Nov 04, 2015 6:15 pm

Re: Kodakcoin

Post by Teague » Sat Jan 13, 2018 3:34 pm

Dedicated to the folks in the Eastman Kodak C-suite:
(with profound apologies to Paul Simon)

When I think back on all the beer we drank in B-school
It’s a wonder we’re employed at all
And though a lack of fiscal prudence hasn’t hurt us none
Can we postpone this quarterly call?

KodaKCoin
It gives us such nice big numbers
Sure hope we look smart, not dumber
Make it seem all is finally OK
We got us an I-C-O-
What happens next, who knows?
Mama just make my KodaKCoin please pay.
Semper Augustus

User avatar
nisiprius
Advisory Board
Posts: 36500
Joined: Thu Jul 26, 2007 9:33 am
Location: The terrestrial, globular, planetary hunk of matter, flattened at the poles, is my abode.--O. Henry

Re: Kodakcoin

Post by nisiprius » Sat Jan 13, 2018 4:45 pm

And we all laughed at Venezuela...

Sweden planning e-Krona
Sweden’s central bank, the Riksbank, is spearheading international cooperation on the development of officially sanctioned cryptocurrencies and could be the first to launch its own... [HSBC talks of] the possible introduction of a so-called “e-krona,” something that might occur within the next couple of years, although “2018 may be a little too soon,” Business Insider reported.... As HSBC economist James Pomeroy notes: “The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.”
Right now, a hundred ministers in a hundred countries are reading about the e-Krona and calling their staffers and saying "What is this? How hard is this to do? When can we have one?"
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

Finridge
Posts: 476
Joined: Mon May 16, 2011 7:27 pm

Re: Kodakcoin

Post by Finridge » Sat Jan 13, 2018 4:47 pm

nisiprius wrote:
Thu Jan 11, 2018 9:13 pm
As much as we like to think this is a bubble, people are making tons of money with little investment needed.
This happens in every bubble. The fact that some people are making tons of money doesn't prove that it isn't a bubble. Bubbles normally are vast engines of wealth transfer. The question is, from whom to whom, and why should I think I will be on the receiving end?
Nisiprius cuts to the heart of it right here.

drk
Posts: 717
Joined: Mon Jul 24, 2017 10:33 pm
Location: Seattle

Re: Kodakcoin

Post by drk » Sat Jan 13, 2018 5:36 pm

nisiprius wrote:
Sat Jan 13, 2018 4:45 pm
And we all laughed at Venezuela...

Sweden planning e-Krona
Sweden’s central bank, the Riksbank, is spearheading international cooperation on the development of officially sanctioned cryptocurrencies and could be the first to launch its own... [HSBC talks of] the possible introduction of a so-called “e-krona,” something that might occur within the next couple of years, although “2018 may be a little too soon,” Business Insider reported.... As HSBC economist James Pomeroy notes: “The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.”
Right now, a hundred ministers in a hundred countries are reading about the e-Krona and calling their staffers and saying "What is this? How hard is this to do? When can we have one?"
Given Sweden's enthusiastically cashless society, this seems pretty logical. If nearly all transactions are already digital, why not use technology that can safely reduce settlement times?

Ztx
Posts: 34
Joined: Thu Jul 21, 2016 9:54 pm

Re: Kodakcoin

Post by Ztx » Sat Jan 13, 2018 11:22 pm

drk wrote:
Sat Jan 13, 2018 5:36 pm
nisiprius wrote:
Sat Jan 13, 2018 4:45 pm
And we all laughed at Venezuela...

Sweden planning e-Krona
Sweden’s central bank, the Riksbank, is spearheading international cooperation on the development of officially sanctioned cryptocurrencies and could be the first to launch its own... [HSBC talks of] the possible introduction of a so-called “e-krona,” something that might occur within the next couple of years, although “2018 may be a little too soon,” Business Insider reported.... As HSBC economist James Pomeroy notes: “The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.”
Right now, a hundred ministers in a hundred countries are reading about the e-Krona and calling their staffers and saying "What is this? How hard is this to do? When can we have one?"
Given Sweden's enthusiastically cashless society, this seems pretty logical. If nearly all transactions are already digital, why not use technology that can safely reduce settlement times?
Why do they need cryptocurrency or blockchain to accomplish this though? I'm pretty sure they are not going to make their blockchain public and in this case how is this solution better than an approach with a trusted intermediary (central bank/government /smdb else)

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Kodakcoin

Post by mws13 » Sun Jan 14, 2018 9:21 am

HardHitter wrote:
Sat Jan 13, 2018 10:22 am

So why did I invest in XLM? There were two main reasons in addition to the overall road map of Stellar which is the partnership/backing from IBM and then the FairX exchange (Google it).

In summary, FairX is a new exchange that is being developed in which people will be able to use fiat currency to purchase their coins via Lumens. A consumer will purchase Lumens using USD and then trade it in the same exchange for their alt coins. This eliminates the "complexity" of standard consumers not understanding how to buy from Coinbase and then transferring to another exchange and then buying.
Thanks for this. I bought a little XLM today. Thanks for your continued insights.

Post Reply