Sunshine Capital Inc. (fka SCNP)

[GDorn]

I Take it you don't Get Irony

From the Forbes article:

Nonetheless, Dibcoins at a buck means Sunshine is worth $235 per share. And you can get it for $4 if you have a broker without a picky compliance department.

Mr. Reilly, the author of that blog post was pointing out how absurd SCNP/DibCoin's claims were and SCNP's PR machine fell for it hook line and sinker. Or perhaps better put, their PR on the Forbes blog post hopes potential investors will fall for their take hook line and sinker.

Perhaps the stupidest thing SCNP has been saying about Dibcoin, though in fairness I will point out that they have said several things almost as stupid as this and if someone asserts that something else SCNP has said about Dibcoin is in fact stupider I would be open for debate, but they hope potential investors are addle minded enough to believe that if Dibcoin is trading for a dollar, and they have five billion Dibcoin, then Dibcoin adds five billion dollars to the balance sheets.

And that's assuming they are not doing what near any 12 year old from Indonesia could do, namely actively manipulating the price of their altcoin. There's a reason the SEC wont touch Bitcoin and Bitcoin is a bazillion times more difficult to game than Dibcoin which has traded fewer than 300 coins so far today.

This is an investors discussion forum, I do not need to explain basic economics but let's say I'm wrong in my guess that fewer than 100,000 Dibcoin are owned by people outside of SCNP, let's say it's a cool million. Math majors, help me out here, Dibcoin is trading at a buck on a float of a million coins and tomorrow SCNP dumps four billion nine hundred and ninety nine million coins on the market. What happens to the price?

We don't have to play hypotheticals, we only need to wait for SCNP's (unaudited) disclosures. If they created an asset worth five billion dollars they have one friggen hell of a tax bill coming due. Why don't we just sit back and see how much they tell Old Aunt Iris Dibcoin is worth. My guess is it will be a crap load closer to zero than five billion even if they lack a single compunction about lying to potential investors about it in their PRs.