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Kodak shares up as it announces KODAKCoin cryptocurrency

kodak.com

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Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#131

Post by the_stc »

yodon wrote: post #123
the_stc wrote: post #105

Earlier quoted context omitted.

More than that, our business is not legal in the US which is one of our primary markets.

So you’re adding financial crimes to the set of things you’re doing to found your company? Selling securities is a HUGE deal with tons of complex and subtle laws governing it. This isn’t because “governments are stupid” it’s because fraud in the sale of securities is so easy and such a problem. In the US it’s actually the state attorneys general and state regulators who are the most focused on this sort of thing, tho…

We have consulted with lawyers. None of them are going to give the go-ahead on this project.

Quote from one of them: There is no such things as extrajurisdictional, unless you're on the moon. My reply: If our opsec is good, we may as well be. Tor's latency even makes it feel like being in space.

If our opsec fails and I am unmasked, I will be unhappy at being caught. Successors will recover the system from backup keys and continue on. Small comfort.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#132

Post by ABCLAW »

Clubber wrote: post #57
mywittyname wrote: post #46

Earlier quoted context omitted.

> it's just Kodak trying to ride the free money wave of cryptocurrency speculation. Our company made a massive push last year for developers to be "using blockchain technology, now." No real direction as to what exactly needs to be solved with it, just that we need to be seen using it. This was before several months before the whole Long Island Blockchain fiasco. Apparently, last year, "block chain experts" were meet…

Guys billing $500 an hour to tell people what they want to hear.

Guys billing $500 an hour to a third party to provide a CYA paper trail that shields the executive from criticism should everything blow up spectacularly.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#133

Post by the_stc »

UncleMeat wrote: post #115
the_stc wrote: post #83

Earlier quoted context omitted.

Our ICO is really an IPO. We are selling shares in our company (unregulated security). We have a real business model, good fundamentals. And before the full ICO, we will have a working service. Cryptocurrency allows us to avoid capital and other controls to fund a venture which would be impossible to fund otherwise. But most ICOs are blatant scams trying to justify their useless tokens, Kodak included.

Yes I sure hope that before you sell shares of your company you have some product. Why is this even impressive? Do I get to vote? Do I get dividends? I'm personally a big fan of securities regulation. Are you going to have open financials and reporting? Why is this better?

I am pointing out that not all ICOs are pure-product-free-plays.

Voting, we are uncertain how that would work but very much open to it. Dividends, yes, that is the entire point of us selling equity. This is considerably better than what you get from some publicly traded companies these days!

Open financials: We will have a certificate-transparency-style audit-log of our revenue and we will release limited financials and can discuss concerns if the revenue numbers and profits are too far apart.

This is better because before anonymity tech and cryptocurrencies...It was very difficult to invest in or even run a global escorting platform. This is due to the laws in many countries that we can now work-around. And investors can participate while maintaining their complete privacy. This is difficult with traditional government-regulated equities.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#134

Post by yodon »

the_stc wrote: post #131
yodon wrote: post #123

Earlier quoted context omitted.

So you’re adding financial crimes to the set of things you’re doing to found your company? Selling securities is a HUGE deal with tons of complex and subtle laws governing it. This isn’t because “governments are stupid” it’s because fraud in the sale of securities is so easy and such a problem. In the US it’s actually the state attorneys general and state regulators who are the most focused on this sort of thing, tho…

We have consulted with lawyers. None of them are going to give the go-ahead on this project. Quote from one of them: There is no such things as extrajurisdictional, unless you're on the moon. My reply: If our opsec is good, we may as well be. Tor's latency even makes it feel like being in space. If our opsec fails and I am unmasked, I will be unhappy at being caught. Successors will recover the system from backup key…

You will look back on the decision to do this with regret. I understand you can’t see that now. I’m genuinely sorry for you.

P.s. if you did talk to lawyers about this, your “opsec” is probably already blown or partially blown. Attorney-Client privileges only click in if you’re their client, which you aren’t. They will remember you and connect the dots if and when the time comes for anyone to care who you are.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#135

Post by throwawayjava »

JumpCrisscross wrote: post #114
viridian wrote: post #7

>Utilizing 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. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and am…

> it's just Kodak trying to ride the free money wave of cryptocurrency speculation Can we blame them? Their stock is up 125% today [1]. 44 million shares traded on the NYSE on 43 million of these shares outstanding (Kodak has a weird cap structure). Literally every owner of Kodak Common New had the opportunity to cash out, simply on the coattails of management penning a press release. (Including management!) [1] http…

Yes, because the corresponding pop will dry up a lot of capital that could've otherwise been put to productive use.

Bullshit is shameful.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#137

Post by Psilidae »

leejo wrote: post #31

Something like this already exists: https://www.ascribe.io/ # I had to use it to submit some photos to a call for work a couple of years ago. After the call I wanted to delete the work, because I didn't want it hanging around in public view. Oh look! You can't! Because It's blockchain! Immutable history is not always a compelling requirement, in fact sometimes it is at odds with many a use case.

This is what my criticism is, as well. A few days ago I had been pondering a similar concept of a blockchain-based platform for tracking image ownership. The main blocker I encountered while thinking about it was the problem of immutability. Specifically, what happens if something is wrong?

Like, the first problem I see here is a troll just importing images from all over the Internet and claiming ownership. If something like this happens, would it be possible for the actual artist to ever regain "ownership"?

You really think someone would do that? Just go on the blockchain and tell lies?

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#138

Post by bomb199 »

throwawayjava wrote: post #135
JumpCrisscross wrote: post #114

Earlier quoted context omitted.

> it's just Kodak trying to ride the free money wave of cryptocurrency speculation Can we blame them? Their stock is up 125% today [1]. 44 million shares traded on the NYSE on 43 million of these shares outstanding (Kodak has a weird cap structure). Literally every owner of Kodak Common New had the opportunity to cash out, simply on the coattails of management penning a press release. (Including management!) [1] http…

Yes, because the corresponding pop will dry up a lot of capital that could've otherwise been put to productive use. Bullshit is shameful.

What productive use? It would just go to another bet to try and make money.

The stock market is not about giving companies capital anymore, it's about concentrating funds to the back accounts of the right people.

Re: Kodak shares up as it announces KODAKCoin cryptocurrency

#139

Post by bomb199 »

alangibson wrote: post #39
JackFr wrote: post #22

Earlier quoted context omitted.

You're too late: http://www.peakcoin.io/

"Peakcoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world." So there's a coin called Peakcoin. Real lack of awareness in the branding.

I'm really upset Peakcoin isn't a coin meant to quickly transfer money out of failing coin markets.
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