Author Topic: Kodak Surges After Announcing Plans to Launch Cryptocurrency Called 'Kodakcoin'  (Read 233 times)


The Gorn

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It could be a naked ploy to boost stock values.

What I got out of the press releases is that Kodak sees a role in digital rights management for photos using blockchain techniques.

I need to learn this stuff so I can cash in.  :P
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ilconsiglliere

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It could be a naked ploy to boost stock values.

What I got out of the press releases is that Kodak sees a role in digital rights management for photos using blockchain techniques.

I need to learn this stuff so I can cash in.  :P

Me too. This is the next dot com, I am 100% sure at this point. Wall Street is way too excited about it for it to be a momentary thing.

unix

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It's the height of insanity. They are trading shyt that has absolutely no intrinsic value. Zeroes in some database. Can be turned off as easily as it was created.

At least Federal Reserve Notes were created using some valuable natural resources, like trees and cotton and ink.
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ArnoldW2

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Unix wrote:
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At least Federal Reserve Notes were created using some valuable natural resources, like trees and cotton and ink.

The overwhelming majority of dollars are numbers in computers, not pieces of paper.  Worse yet, governments around the world are in the process of ending all paper money, thereby forcing all people to keep all their money in big corporation computers that governments, campaign contributing cronies and hackers can all plunder at will.

Denmark is already in the process of doing away with all their paper money, and many Danish banks no longer accept paper cash.  There, the buying and selling of anything requires a bank debit card or credit card.  Here are some links to articles on the coming abolition of paper money.


Time running out for billions of old Swedish kronor (excerpts below)
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Eleven billion kronor of old Swedish coins and banknotes are still in circulation despite the Riksbank central bank's warning that they need to be handed in by the end of June.
Sweden's major money changeover, which began in 2015 and has grabbed headlines around the world, has entered its final phase, meaning that old 1-, 2- and 5-kronor coins, as well as 100-kronor and 500-kronor bank notes, will become invalid after June 30th.

But according to the Riksbank's latest estimate, 9.2 billion kronor's worth of old notes and 1.9 billion kronor coins are still hiding in Swedes' wallets, piggy banks and mattresses.
https://www.thelocal.se/20170531/time-running-out-for-billions-of-old-swedish-kronor



Should the U.S. move to a cashless society?

A very interesting debate.

Ken Rogoff says YES.

James J. McAndrews says NO.

http://www.marketwatch.com/story/should-the-us-move-to-a-cashless-society-2017-10-02





In China, cash is all but dead thanks to more convenient options.

http://www.businessinsider.com/china-cashless-alipay-wechat-2017-10




Michael Pento - Crazy Stock Market Will Crash

He actually talks at great length about the inevitable default on government bonds — maybe explicit default, maybe implicit (inflation), especially as interest rates begin to rise.

Pento says that paper cash must be eliminated to make sure that negative interest rates will work.

https://www.youtube.com/watch?v=WOFWq3Cau2c






The War On Cash (excerpts below)
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Nations around the world are taking large denomination bills out of circulation.
The European Central Bank announced in May of last year that its 500-euro note would be gone by the end of 2018.
Now, there’s talk about doing away with $100 bills.

India’s Prime Minister Narendra Modi did away with 1000-rupee banknotes (worth about $15.32) and 500-rupee notes (worth $7.66), although he set redemption deadlines to give people time to deposit them in banks.

The problem with cash is it’s not traceable.

The real reason for the war on cash is taxation. But governments don’t admit that. They use other excuses like national security, that free-flowing cash is feeding terrorist groups, financing the drug trade, that all kinds of illegal activities are cash-driven, and that cash can be counterfeited.

One reason Prime Minister Modi killed the 1000-rupee and 500-rupee notes is tax evasion. Those notes, together, account for 86.4% of the value of all rupee bills in circulation. By forcing the population to exchange expiring notes for new notes, authorities can ask where the money came from, if a tax has been paid on it, and if depositors can prove it. If they can’t, the tax will be taken from it, and a fine totaling as much as 200% of the tax owed will be levied and taken.

Breaking the back of corruption where bribes are paid in cash, and being able to collect income and transaction taxes could only be accomplished by attacking the old cash economy.

The war on cash across Europe is heating up even faster than in the U.S.

Sooner rather than later, we will all need to deposit our cash somewhere or buy hard assets, because one day your cash won’t be nothin’ but trash.
https://wallstreetinsightsandindictments.com/2017/10/your-cash-aint-nothin-but-trash/




How "Fedcoin" Will Spearhead the War on Cash (excerpts  below)
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While hypothetical for now, there's good reason to believe the Federal Reserve is seriously considering the creation of a Fedcoin.

Jim Cunha said:
"Right now, I can tell you categorically, there is no plan to issue a Fedcoin at any specific date or time”.

Cunha's denial is extraordinarily narrow. Just because no Fedcoin launch date is set doesn't mean the Fed isn't working on the project behind closed doors.

A lot of technical issues will need to be resolved to make fiat cryptocurrencies work. For example, many cryptocurrencies, like Bitcoin, are decentralized. A Fedcoin would be totally controlled by the Federal Reserve (and, by extension, the U.S. banking system).

If Fedcoin is introduced and all the dollars have been exchanged for Fedcoin, Americans will get a rude shock.

A cashless society would cripple, if not destroy outright, the underground economy. And the government would rake in billions of additional tax revenue with the bonus of making a lot of common crimes much more difficult.

Fedcoin would become a tool for imposing negative interest rates. You'd have to pay the government interest on your money — unless you spend it all fast.
If everyone spent all their Fedcoin, the resulting stimulus to the U.S. economy would dwarf everything the Fed tried in the years following the 2008 financial crisis.
https://moneymorning.com/2017/09/28/how-fedcoin-will-spearhead-the-war-on-cash/

unix

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Interesting.

What I don't get it, why don't people use gold coins, if they want to evade taxes or move large amounts of currency?

0.1 oz gold coin  is dime-sized, even smaller and is worth almost $200.
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