Is DentaCoin the most ridiculous ICO project to make it into the top 100 list of cryptocurrencies yet?

When reviewing DentaCoin’s business plan, it’s hard to tell whether the founders are just incredibly stupid, insane, outright scam artists or all of the above. Easily in the running for dumbest ICO idea yet, DentaCoin continues to stun even the most seasoned ICO critics with it’s 8 trillion maximum supply (yes, you read that read that correctly).

The DentaCoin team is quick to point out that there are “only” 325 billion DentaCoins circulating out of a total supply of 1.841 trillion. In other words only 17.7% of the “total supply” and only 4.1% of the “max supply” is currently trading. The team defends this ridiculous oversupply of DentaCoins by pointing out that the remaining DentaCoins will be "slowly released" over the course of the next 24 years. It is up to readers to determine for themselves if expanding the supply of a currency by 25 times can accurately be described as increasing "slowly".

This would mean that DentaCoins will also have to "slowly increase" in value by 25 times over the next 24 years just to maintain their current valuation per coin.

That means an “investor” purchasing DentaCoins today at their current market price would need to expect the total supply of DentaCoins to achieve a valuation of greater than $11.25 billion (stated in today’s dollars) by 2042. Those unlucky enough to have purchased DentaCoin at its peak valuation of nearly $2.3 billion would need DentaCoin to achieve a valuation greater than $68.5 trillion by 2042!

Does anyone honestly believe that "the cryptocurrency you can pay your dentist with" with has an upside of 25 times a $449 million vluation (let alone 25 times a $2.3 billion valuation)?

Did DentaCoin’s management revise their business plan when they received obvious criticism concerning DentaCoin’s outrageous oversupply? No of course not, they doubled down defending the 8 trillion supply with the following claims:

1.) There are more than 200 times as many satoshis as DentaCoins therefore an 8 trillion supply makes sense. Hilariously implicit in this argument is that DentaCoin has (or will have) some kind of overall valuation even remotely comparable to that of Bitcoin.

2.) “The minimum required volume of any currency in order to have a chance for global use is 5% of the total world currencies volume. Today, all of the world’s money equals USD 160 trillion and 8 trillion DCN is an equivalent to approximately 5% of this amount.” And clearly the cryptocurrency you can pay your dentist with should be worthy of at least a market share of 5% of all the world’s currency, right?

It must logically follow from the first argument that the DentaCoin team believes that DentaCoin is undervalued and still has significant upside at a relative value to bitcoin of 6% of bitcoin (current value of a DentaCoin is 12 satoshis, there are 200 times as many satoshis as DentaCoins, 200:1 would be a 1:1 relative value, 12/200 = 6%).

The second argument literally left me speechless. Do these fools honestly think that “DentaCoins” will one day represent 5% of all the world’s currency? How can anybody make such claims and expect to be taken seriously?

They continue attempting to justify this ridiculous claim by stating that DentaCoin’s “target group has much bigger size than most of the Blockchain-based projects and it consists of more than 600 Mio users (patients and dentists).” Uhhh… OK... well for one thing, 600 million people is only 8.2% of the world’s population — will 8.2% of the population need 5% of the entire world’s currency supply just to pay for dental services? Really? Is this supposed to be taken seriously?

To put this another way, will users need $13,333.33 each of a cryptocurrency that is only good for paying for dental services and products? Remember, DentaCoin claims there is $160 trillion of global currency supply and that they believe that 5% of global supply or $8 trillion is the minimum amount necessary for a currency to achieve “global use” and they think DentaCoin has a chance at achieving “global use” as a currency.

Oh, and, to get to those hypothetical figures stated above one must assume DentaCoin captures 100% of their target market. Don’t forget, DentaCoin already achieved a peak valuation of nearly $2.3 billion for just 4.1% of the max supply on January 8, 2018 and is currently trading at over $449 million for that same 4.1% at the time of writing.

Have you found an ICO even more ridiculous than DentaCoin that has achieved a top 100 spot on coinmarketcap.com? If so, please leave a comment and a link.

Edit: It appears the answer is stupid and scam artists. Here are a few details about DentaCoin's scam artist founder from Bulgaria.