Kodak KashMiner turns out to be a scam

Earlier this year, Kodak unveiled its own crypto-mining device at the CES trade show. However, the BBC found out that the Kodak KashMiner had never seen a Kodak development lab from the inside. The whole thing was a fake from the start and has now been stopped by the US Securities and Exchange Commission.

In January, the Kodak KashMiner was presented at the Kodak booth at the gigantic consumer electronics trade show CES in Las Vegas. From the outset, critical voices questioned the huge profit promise of 375 US dollars per month with which the hardware was advertised. Moreover, with the enormous rental fee, one would have to expect that at least half of the turnover would have to be given to the manufacturer. In addition, there are the slowly rising electricity prices in most European countries in connection with the fall in the Bitcoin price.

There has never been a Bitcoin evolution

Spotlite Digital Assets is one of many Bitcoin evolution companies that has acquired a license to use the Kodak brand name in the USA like this https://www.forexaktuell.com/en/bitcoin-evolution-scam/. The CES booth announced the rental of Kodak’s own equipment. The tenants should pay a rental fee of $3,400 in advance for two years and keep the mined revenues in return. Halston Mikail of Spotlite explained that the Kodak corporate headquarters in Rochester, northwest of New York, allegedly had 80 devices in use because it was very cheap to get electricity there.

On request, Kodak now announced to the BBC that it had never officially licensed this product. Also, there had never been any crypto miners in the premises of the Eastman Kodak Company. Apart from an unfinished website, which was supposed to advertise the Kodak HashPower, nothing can be seen there yet. Besides the Bitcoin Miner, devices for digging Litecoin, Ethereum, Dash and the crypto currency Blake were planned.

SEC stopped the Bitcoin evolution

In addition, the Bitcoin evolution managing director of Spotlite had to admit to the BBC that the SEC had put an early end to the company’s activities. The company had to abandon its plans. According to Halston Mikail, a crypto-mining farm is now planned in Iceland as an alternative.

It now looks as if the company wanted to take advantage of Kodak’s good reputation and the ongoing hype surrounding the KODAKCoin. But even the KOKAKCoin only licensed the Kodak brand. What used to be the world’s largest supplier of equipment for photographers has little in common with the development of the KODAKOne platform and the planned token sale of 50 million US dollars. The licensee is the Berlin-based Ryde GmbH. The company earns its money by tracking down illegally used photos on the Internet. As recipients of the high-priced letters, the operators of the websites are then asked to pay the license fees for the photos at a later date.

In addition also the concept of the new Blockchain initiative of Ryde fits. Also this is to search automatically and regularly the Web, in order to make the rights at copyright-protected photos afterwards valid. In this way she wants to help her customers, the photographers, to get their money’s worth. The Eastman Kodak Company only benefited from this in the short term, and the price of its own shares has been back at the old level for several months now.

For the offerer this would have certainly played no more role after conclusion of the two-year contract. The manufacturer would have received the renting fees in such a way or in such a way in Vorkasse. The clever slogan “In math we trust” did little to change the criticism voiced in various social networks.

Kodak is selling a Bitcoin miner where you pay for a two year contract and “make a profit”. (*at current prices, Kodak gets half of all bitcoin you produce.) This is the dumbest shit I’ve ever seen at CES.