So in case you aren't aware, there is a coin heading our way called DIBCOIN. It is being celebrated as being solely created and used by a publicly traded company called Sunshine Capital Inc. (OTC: SCNP). I'll admit that, at first glance, I got excited. Here we have another chance to connect the cryptocurrency realm with the real world. I only say "real world" because we don't see a whole lot of intermingling between fiat and cryptocurrencies in publicly traded companies, so sometimes it seems that I am to quote the Matrix "living in a dream world." Don't get me wrong. It's gotten better...but I digress.
As I said, I got excited about this new currency, but after an hour I reread everything. First, I read the total amount of DIBCOINs that will be created: 5 billion. That is a hefty supply.
Next I read a quote, "' DIBCOINs to purchase other entities will not result in debt or dilution on its balance sheet. '" I thought to myself that it sounded wonderful. Why isn't everybody doing this?
The next lines are my favorite:
"Shareholders will be given one DIBCOIN dividend for every one share they own of Sunshine Capital, Inc. for shareholders of record on October 10, 2016. Sunshine Capital will be holding nearly 5 billion DIBCOINS in its portfolio, but will only release a small amount of DIBCOINS to the public, since most of the DIBCOINS will be used by the Company to purchase assets and other corporations without diluting the shareholders in Sunshine."
Shareholders get some? I thought maybe I would buy some stock at this point (not joking). And now we have the coup de grâce which brought it all together. Do you see that in bold above? Connect that statement with the following, "'We are working diligently to get DIBCOIN traded on a reputable and liquid exchange.'"
In conclusion, the company is creating a cryptocurrency with no value, 5 billion of them no less. They are going to give these as dividends to their stockholders. My guess is they will try to get DIBCOIN listed on Bittrex or Poloniex, throw some out there, and then hype, hype, hype.
I have no desire to let this company create money out of thin air and waste my Bitcoin, Ether, Steem, etc. to help them purchase assets and other corporations. If you do, have at it :)
Thanks for reading.
Information gathered from the following:
it is projects like these that we must all protect one another from gtting involved in. Thanks for your efforts to bring this to public knowledge before newbies get hit on the side of the head with a cryptocurrency lesson.
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I totally agree and very well said. Thank you @officialfuzzy.
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Thanks for the warning. For me, this part:
was a real red flag. Unless proven otherwise, I'd assume that whoever's in charge of Sunshine Capital Inc. has gotten the idea that cryptocurrency is hawt & is using Dibcoin as a way to pump the stock.
I just read SNCP's fact sheet at OTC Markets and I saw this little gem:
Ooookay...
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"a telling of the whole story of his murder-for-hire trial and the case for his defense."
Never mind, I think it's going to do really well. :)
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DIBCOIN sounds great with Duffy advising the company he already as a proven track record, of buying 140M dollars of companies using stock, now using cryptocurrency as a form of money is awesome .
As far as pumping their e stock no way they have never paid one PR firms to do that ever. Duffy is gonna prove that the cryptocurrency market is real, I realize where he is at but this guy is gonna help us alot . Once Adam Petty and Honson Luma acquire the first company using DIBCOIN ITS ALL OVER.
DIB Funding and Sunshine Capital will be the first to do that and it brings credibility to our market. I want and know they are gonna do it. For all the cryptocurrency fans lets all hope this company pulls this off.
#DIBCOIN #SCNP #pennystocks #Duffy
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Well, we'll see. Spotting a "red flag" is not an accusation, it's just a decision point that says "too risky for my blood." In the heat of speculation, we sometimes forget that. :)
Above is my opinion; everyone's free to agree, "meh", or disagree like you did. :) Good luck.
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I hear ya. I respect that. Everybody should do thier due diligence for whatever opportunity that comes their way. The use case is very simple, using DIBCOIN as money to acquire private business and government patents within the organization. Think about the few dozen of altcoins trading with no real methodology, but still trading.
DIBCOIN whole objective is to prove that cryptocurrency is real money and can be used to purchase real companies with real net assets.
Yes, I agree only time will tell.
Regards
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"Traditionally, public companies have structured acquisitions using stock issuances, which dilutes the shareholders' interests, or encumbers its balance sheet with debt to purchase target companies. Sunshine's concept will do no such thing. In contrast, Sunshine's use of DIBCOINs to purchase other entities will not result in debt or dilution on its balance sheet."
That is a first!!!!!!
It will be like using cash to buy profitable private companies and assets for Sunshine Capital Inc.," stated Honson Luma, Vice President of Sunshine Capital and DIB Funding, Inc. "DIBCOIN will not only be accepted online, like BITCOIN, but will be accepted in the brick and mortar world as payment for acquisitions. One of the ultimate goals is to prove that cryptocurrency can be used just like the U.S. Dollar."
Right there read that good they will prove Cryptocurrency can be used just like the US Dollar!!!!!!
Sunshine Capital will be holding nearly 5 billion DIBCOINS in its portfolio, but will only release a small amount of DIBCOINS to the public, since most of the DIBCOINS will be used by the Company to purchase assets and other corporations without diluting the shareholders in Sunshine
There it is they will only be releasing a little amount of DIBCOINS to the public not 5B Coins, they are gonna,be used to buy assets in the real world and think about it, to be a real currency you have to have to have a lot in reserves to be able to get that currency circulated.
#DIBCOIN #DIBFUNDING #SCNP #Duffy
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