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I'm surprised they didn't go the ICO route with DropCoin or something.

I'm genuinely curious to know why you're surprised or what would they have to gain from it.

It would be foolish to ICO now. Go public first then pull a Kodak.

Can you explain the "pull a Kodak"? I'm a bit lost with that.

Launch a coin, sell some Bitcoin mining gear, etc.

/s