Indeed
That sounds soooo sacmmy. Do you think that is what they are actually doing?
Obviously they are not. Just like Gatecoin they have a chunk of the ICO, and are floating the market with it. There is no business scenario where it makes sense to run a scam for a few 100 btc.
Exactly. Look at the business Gatecoin received from their REP IOU.
Hell, even the amateur-IOU for Ethereum sent their 'customers' the actual crypto. There is just no point to running some kind of scam using IOU, because if you aren't big enough for it to cost more than it's worth people won't trade it.