Kodak Branded Cryptocurrency Rig

[JoltEnergy]

Quote

Kodak and Spotlite are asking prospective customers to sign a two-year deal and pay $3,400 up front to rent the mining machines, which are used to support the bitcoin network and create new coins. As part of the agreement, Spotlite gets to keep half of all proceeds the machines generate by mining bitcoin.

 

Spotlite and Kodak estimate customers will earn $375 a month, making $9,000 over the two-year rental period.

 

 

 

http://www.businessinsider.com/kashminer-kodak-bitcoin-mining-2018-1

Crazy thing about this is that the stock price of Kodak went up by about 100% as for how it does I am going to have to wait and see.

[iRileyx]

So you've gotta pay 3450 upfront to make $9k over the 2 years, but then half of that $9k goes to Spotlite.

 

So in essence, once youve made back the money for the rental, and given the 50% to spotline, you're making a measly $1050 over 2 years, whilst having to pay to power the thing. Doesn't seem all that great.

[JAKEBAB]

7 minutes ago, RKRiley said:

So you've gotta pay 3450 upfront to make $9k over the 2 years, but then half of that $9k goes to Spotlite.

 

So in essence, once youve made back the money for the rental, and given the 50% to spotline, you're making a measly $1050 over 2 years, whilst having to pay to power the thing. Doesn't seem all that great.

I think that's after they take their cut no?

 

What happens if Bitcoin crashes?

[iRileyx]

4 minutes ago, JAKEBAB said:

I think that's after they take their cut no?

 

What if Bitcoin crashes?

Ooh you're right  it doesn't make much sense from that leaflet lol.

 

 

[dizmo]

When I first read about this, they were installing them in the Kodak facility, since they pay $0.04/kWh for power. Thus, they can profit even more. This makes it seem like they ship it to the persons house, which doesn't make a great deal of sense.

It's an intriguing idea, and something I'd definitely consider investing in, though I imagine it's limited to US citizens, and it's also sold out.

 

Kodak shares are up 300%. THAT would have been a good investment.

 

Welcome to the forum

 

16 minutes ago, RKRiley said:

So you've gotta pay 3450 upfront to make $9k over the 2 years, but then half of that $9k goes to Spotlite.

 

So in essence, once youve made back the money for the rental, and given the 50% to spotline, you're making a measly $1050 over 2 years, whilst having to pay to power the thing. Doesn't seem all that great.

I'm pretty sure that's after the amount Spotlite takes. It just looks like an Antminer S9, which makes about $700 - $800/month.

[iRileyx]

Just now, dizmo said:

I'm pretty sure that's after the amount Spotlite takes. It just looks like an Antminer S9, which makes about $700 - $800/month.

Yeah when i went back and worked it out it is after they take their split, not before  

[dizmo]

11 minutes ago, JAKEBAB said:

I think that's after they take their cut no?

 

What happens if Bitcoin crashes?

Then you lose your money, just like any other investment.

[Dabombinable]

Still keep on getting surprised by Kobak's existence after their shops got closed (still got an envelope with Kodak negatives+the CD they were copied to).

[Guest]

To add to this news as related:

Original Article http://www.bbc.com/news/technology-42630136
 

Kodak currency

Kodak's other initiative, the KodakCoin, is being created as part of an effort to build a global ledger of picture rights ownership that photographers can add their work to.

Associated KodakOne software will be used to crawl the web and find pictures that have been used without permission.

 

The company said it would then "manage the licensing process," so the photographer can be paid, in KodakCoin.

 

"Kodak has always sought to democratise photography and make licensing fair to artists," said Kodak chief executive Jeff Clarke.
 

"These technologies give the photography community an innovative and easy way to do just that."

- BBC's Chris Foxx & Leo Kelion

Fantastic news, I'm investing right now
Its also more the reason for stock increase.

[NumLock21]

Kodak also made a nuclear reactor back in the day.

[HalGameGuru]

This is interesting; so it is a situation where you pay the upfront cost for the miner then it gets shipped TO Kodak to run it? And you get a cut of the mining from the first two years? That's not terrible if BTC stays valuable. Crowdfunding cryptocurrency mining. Slightly better or worse than leasing? dunno. but interesting nonetheless

[JoltEnergy]

1 hour ago, dizmo said:

Welcome to the forum

Thanks for the warm welcome

[Brehohn]

Is that an Antminer with a Kodak sticker slapped on? Seriously?

 

Honestly, I’d rather just buy an antminer for $2k and earn my money afterwards. 

[BuckGup]

31 minutes ago, Brehohn said:

Is that an Antminer with a Kodak sticker slapped on? Seriously?

 

Honestly, I’d rather just buy an antminer for $2k and earn my money afterwards. 

100000% an antminer S9

[rawrdaysgoby]

So... just build one OR EVEN BUY A CUSTOM PC would be cheaper then this thing

[suicidalfranco]

11 hours ago, BuckGup said:

100000% an antminer S9

R4, I want my silence.