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Kodak Is Making It Possible For Consumers To Rent A Branded Bitcoin Mining Rig And They Get To Keep Half Of The Profits

Samantha Mitchell

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Kodak Mining

Bitcoin Mining By Kodak• Kodak, the camera company, is joining forces with a company to start mining Bitcoin

• Kodak’s stocks shot up by over 100% on Tuesday after it announced that it would unveil a Cryptocurrency

• Critics are up in arms against the camera manufacturer over the mining plans in the backdrop of the uncertain Cryptocurrency future

Kodak is the latest company that has shown interest in venturing into the Cryptocurrency world. This renowned camera company is partnering with Spotlite with the plans to launch a new line of machines for Bitcoin mining, which will be rented out to the public for several thousands of dollars. Spotlite is a company that specializes in making computers that are designed to be used for Bitcoin mining purposes. However, it is not very clear just how much Kodak intends to be involved with the whole project.

CES Trade Show

This January, during the tech industry trade show CES that was held in Las Vegas, Kodak showcased the new mining machine named Kodak KashMiner at the company’s booth and their employees distributed flyers to create awareness about the collaboration with Spotlite. The computer, as well as the flyer, bore the logo of Kodak. Later on Thursday of the same week, Kodak’s logo was visibly missing from the mining computers that were being displayed at the booth. It had been replaced with Spotlite’s logo.
Undecided

It appears that the two companies are trying to decide on the best branding for the miners and at the same time they are trying to decide on the terms they will use when renting the machines to customers that they will.

Attractive Terms

According to the information on the flyer, the companies relayed that they would require the potential customer to sign a contract of 2 years and pay as much as $3,500 before renting the mining computers. These miners can support the Bitcoin network and make new coins. The agreement also stipulates that Spotlite gets to take 50% of all the earnings generated by the computers when mining Bitcoin.
Kodak and Spotlite forecasted that customers would stand to earn $375 every month and make $9,000 by the end of the two years that they would have rented it.

Possible Changes

One of the Kodak representatives pointed out that the terms of the deal have not been fully agreed upon by the two companies and they are just preliminary hence they might change later when the product is made available to the public.

Online Uproar

Soon after the flyer started circulating among the population, some people criticized the new product on social media. Some Twitter users said that Kodak’s unexpected move of joining the Bitcoin mining industry is a clear sign that Cryptocurrencies are a bubble. Others pointed out that Bitcoin mining becomes harder over time hence the companies’ claims that customers will generate $375 in a month is not sustainable. Therefore, customers will be disappointed. Others have warned people against investing in these miners saying that it is a rip-off.

Surprisingly, these comments have not deterred some customers and reports indicate that the miners that Spotlite had in stock have already sold out. According to a company representative, the company is rushing to make more KashMiners to meet the increasing demand.

Besides this announcement, Kodak also made another declaration at CES on Tuesday early this month. It said that it would partner with Wenn Digital to introduce into the market a rights management service that is Blockchain based and other related Cryptocurrencies. The objective of the service is to track how licensed photographs are used online and ensure that photographers get their dues. Kodak’s stock rose more than 117% after the announcement on Tuesday.

 

Bitcoin Changing Companies Fortunes

Kodak has joined the list of other companies that experienced a boost in their stock prices after announcing Bitcoin or Blockchain based news. The others on the list are Hooters restaurant chain, and Long Island Ice Tea Corp.

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23 MH/s

Nvidia Geforce GTX 1060

Samantha Mitchell

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Nvidia Geforce GTX 1060

Geforce GTX 1060

The latest graphics processing unit from NVIDIA is loaded with new powerful capabilities to take your graphics and gaming to a whole new level. It is an upgrade to GTX 1050’s even if from a design perspective it uses the inferior 16nm technology. Lower versions of Nvidia GeForce use the powerful 14nm technology. Using the 16nm instead of the 14nm technology, however, does not hamper the performance of GTX 1060. The Geforce GTX 1060 is a superior GPU because it also uses the powerful PASCAL architecture. Nvidia GeForce GTX 1060 is the industry’s most advanced, powerful graphics card that offers high speed and performance.

Performance

Pascal architecture gives the Nvidia GeForce GTX 1060 significant power. Compared to previous versions. It has superior technological capabilities and has the following desirable features
• VR ready
• NVIDIA Ansel
• NVIDIA sync Ready
• Compatible with Windows, Linux, and Free BSDx86 operating systems.

Specifications

The Geforce GTX 1060 series has two different graphics cards, each with various specifications.

Architecture: Pascal
Mining hashrate: 23.5-25 Mh/s
Frame Buffer: 3 and 6 GB DDR5

Geforce GTX 1060 6GB

• Pascal GPU architecture
• 1280 NVIDIA CUDA cores
• 6 GB GDDR5 Framebuffer
• 8 Gbps memory speed
• Relative boost clock of 1.4x
• Actual boost clock of 1708 MHz
• Base clock 1506 MHz
• 192 GB/sec memory bandwidth

Geforce GTX 1060 3GB

• Pascal GPU architecture
• 1152 NVIDIA CUDA cores
• 3 GB GDDR5 Framebuffer
• 8 Gbps memory speed
• Relative boost clock of 1.4x
• Actual boost clock of 1708 MHz
• Base clock 1506 MHz
• 192 GB/sec memory bandwidth

Hashrate

The Geforce GTX 1060 3GB is not compatible with Ethereum. The frame buffer is only 3 GB and is not sufficient for the DAG file. The DAG file continues to grow in size and requires a bigger sized frame. The Geforce GTX 1060 6GB works perfectly with Ethereum because of its 6GB frame buffer.

Overclocking and Hashrate

Geforce GTX 1060 6GB has superior overclocking functions; it gives you sufficient room to overclock. The fan is designed to bring in a lot of cool air, without overloading the overclock. The overclocking also enhances performance when compared to previous versions. The overclocking is particularly significant when using Ethereum.

Ethereum usually has a hashrate of 19Mh/s on stock settings. Ethereum also has a power consumption of 100W with the card temperature ranging at 68C or 154.4F. The graphics card allows overclocking of up to 4,700 MHz, which if effected takes the hash rate of Ethereum to up to 25mh/s. Having an Ethereum hashrate of 25mh/s is not only profitable but also makes the mining process more efficient. A 25Mh/s hashrate on the downside consumes more power.

The card’s raw power is still able to take the hash rates a mark higher than 25mh/s. You have to balance between high mark and instability, which may arise because of the high hash rates. Balance power and electricity costs; make the most out the Geforce GTX 1060 without paying high electricity bills.

Based on your budget, select the powerful Geforce GTX 1060 6GB or the more affordable, Geforce GTX 1060 3GB.

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News

China Cryptocurrency Ban Not Enacted?

Maciej Borkowski

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China

Charlie Lee, the creator of Litecoin, announced that according to his source, China will not ban bitcoin mining or the bitcoin network, contary to the rumors. He says the rumors are being propagated by large-scale traders who are attempting to manipulate the bitcoin price.

Lee revealed this information Thursday night on Twitter, stating that he had not traded on the knowledge before making it public.

This twitter info shows than not only Charlie Lee is against the rumors, major players like MGT Capital’s John McAfee and Bitmain co-founder Jihan Wu are also denying China cryptocurrency ban. Chinese miners are accounted for the majority of the bitcoin network hashrate, so such rumours are quite impactful on the markets. Fear and doubt are high, and this is what large manipulators of the market want. Lee mentioned:

They know that China ban FUD works and cannot be proven wrong.

He added that the order-book exchange ban “is still absolutely true” .

Lee has been ahead of much of the recent news regarding China’s cryptocurrency squeeze. Citing an anonymous source, he predicted the bitcoin exchange ban, along with OKCoin and Huobi’s meeting with regulators to discuss the terms of their closures. He has not revealed the name of his source, but many on social media have speculated that it is his brother, BTCC CEO Bobby Lee.

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