Not A Bubble?

Meet The Crypto Company - up almost 20,000% since inception in September...

To a market cap of over $12.6 billion...

Grant's Interest Rate Observer drew the world's attention to this 'company' yesterday...

Shares in over-the-counter name The Crypto Company, which listed in May and traded around $20 as recently as Dec 1st, have gone on a parabolic run in the last ten days - trading as high as $642.

 

That gives the Malibu, California-based business a market capitalization of $12.6 billion.

 

Valuing the Crupto Co. is somewhat difficult, as the only public filing on Edgar (the SEC website), is its securities offering document, in which it ticks the box "decline to disclose" under revenue range.

 

The company's website does note that it's in the business of providing "institutions and individuals direct exposure to the growth of global blockchain developments."

 

And today it is down 75%.

h/t @RudyHavenstein

Comments

CPL spastic_colon Tue, 12/12/2017 - 16:06 Permalink

In doing large data migrations from point A to point B, you need a bucket to dump the data into.  Or in this case lots of buckets. Going to take a while, so what you are seeing are the functional assets in the old shitty busted system migrating over into the bitcoin bucket (and LTC/ETH).  While the data buckets are scooping the value out of one system the back end work can be done to estimate the damage done over time.  Because you can't fucking fix a machine while it's still running.  It's got to get put up on the blocks while the shim hold the foundation in place to construct net new on newer, better and more effienct systems.  Estimates are between 2038 or 2117 it should be finished depending on the adoption and stakeholders using the bitcoin bucket.  Plus it'll figure out a math problem along the way and a kick ass distributed super computer.  win-win-win.Your welcome, smoke'em if you've got'em. -puts beggar bowl out-BTC: 1JdRM74wtrBDZbu8n2aUPP3bLrCtEFFuM8orBTC: 3CtgUArZ2BEFLdMAzutiwCrzxP8hGAeRSn

In reply to by spastic_colon

CPL spastic_colon Tue, 12/12/2017 - 16:42 Permalink

Sort of.The issue is the derivative market.  100 years of lots of ugly investments that have failed and the current systems have no mechanism to release the debt that's still sitting on the books accumulating interest on things like edison's first work shop.  Or World War 1.  Or the American civil war.  Or the rail expansion of the 1880's.  Or worse case examples, England and France.  England is still paying interest on loans made by Henry the 8th.  How is that supposed to furbish anything useful, it doesn't.  But given how all these loans happened based around ownership of stuff, they can't pull the plug on it or it'll break something else.  What it breaks...who knows and probably don't want to know.However primary issue is real business is still happening all over the place and it's getting harpooned by all this crap that's accumulated over time, in some cases 'PINK' sheet debt that's centuries old.  While you, I and everyone else here laughs about it, the computer systems that manage all this junk treat it the same way it would processing a credit card bill from yesterday.  Roughly 14 quadrillion transactions in total worldwide every quarter in 50000 facilities and debt servicing agencies that honestly have no serviceable features, but interest still runs like clockwork and no one knows where this junk debt is hiding.  Nor do they actually know the real shape or size of the economy because of all the derivative spin offs built into this crap.In Information Technology, we've got the exact same issue in asset management and data management.  There are some enterprises out there with these dinosaur systems no one knows what they are doing.  Clients are absolutely terrified to turn these old junk piles off for the general fear of something called dependancies.  Example: an old SUN Spark station is still hooked up to the network and plugged in, but no one knows why because the guy that built it retired and died a while back.  So what we do in IT is move everything to new buckets, or Virtual Machines so the service is there chugging along doing what it needs to do and make a note for someone to do forensics on the machine later.  If IT does the testing and practice runs plus engineering first, the client should never see it happen or feel it.  A migration is closer to a magicians trick.  The fluid motion of the ball moves from one hand to the other, the audience see's magic, the magician endures the training/stage work to keep the illusion 'real'.In the case of bitcoin, capital still needs to flow like water and the old system is closer to a muddy shit filled well.  You don't put water in there or bother drinking from it, you'll just get sick.  You clean it out, fill it in and dig another well.  But you still need to drink water in between filling in the old well for the sake of safety and getting the new one dug up.  Between 2038 and 2117 that's everyone else's job, figure out what's working...cut the annoying garbage that doesn't.  It's ugly but beats the shit out of a sudden financial heart attack that leaves everyone up shit creek. And it was going to happen, mathmatically couldn't do anything else but.  You all know what the other option was.Your welcome. -puts beggar bowl out- BTC: 1JdRM74wtrBDZbu8n2aUPP3bLrCtEFFuM8 or BTC: 3CtgUArZ2BEFLdMAzutiwCrzxP8hGAeRSn

In reply to by spastic_colon

ronin12 Tue, 12/12/2017 - 15:55 Permalink

Mcafee's company MGTI expected to make $2M a month - when BTC was around $10K. $24M in revenue and had $160M market cap last time I checked. Would buy that long before buying this crap. 

Clock Crasher Tue, 12/12/2017 - 15:57 Permalink

Imagine an idustrial metal was taded with a layer of block chain.  Would the price go up/down or neither. That's a rhetorical question.  And that will tell you what the intrinsic value of bitcoin and block chain are. 

D.r. Funk Tue, 12/12/2017 - 15:57 Permalink

Engineered collapse. Like permabears said 7 years ago. This stuff. Is part of endgame. They're blowing-it-up. It's endgame. And they haven't fooled some of us

wmbz Tue, 12/12/2017 - 16:01 Permalink

 "in the business of providing "institutions and individuals direct exposure to the growth of global blockchain developments."~That explanation of what they do is as clear as a bell! Why very few upstanding companies give that much in depth detail to someone looking to invest. I'd go all in on this one.

The Ram Tue, 12/12/2017 - 16:19 Permalink

Looks like the .com bubble times 1000 or 1M.  Well, each genaration likes to do collapse bigger and better.  It will come down to earth.  I am surprised by the so called 'intelligent people' who when they see hyper growth within a very short period of time don't recognize the bubble and the mania.  Does anyone see a liquidity problem here?  I mean, well less than 1% of the world's people own bitcoin, and in theory, the guy who mines a few hundred or a thousand bitcoin could soemday buy a chunk of real estate in Manhattan.  So, a question for the bitcoiners out there.  Will someone sell there NYC residential/commercial real estate for a few hundred or few thousand bitcoins?