I'm very familiar with IPOs after being involved with them for the past 20 years or so. In order for something to have value, it must solve a problem or have the workings to a solution to a problem. Based on the 'whitepaper' that GAW posted and the changes in the whitepaper over the past month, GAW doesn't know what problem it is solving. There is no technical data in the whitepaper, no code. There is no proof of concept. Furthermore, for GAW to 'create' a value of $100 million in a few months, that is very unusual - not unheard of, but very unusual. GAW is still having problems with the ZenMarket with people selling hashlets for pennies on the dollars because they entered the wrong information into the sell window. There should be some kind of verification.
The $100 million is coming from GAW, private investors, and VC.
The coin will be able to be used for purchase via the plugin (at $20 per) when the coin launches. Some time after that it will be on "several major exchanges."
I don't think it's a ponzi or a fraud. Maybe a pipe dream and maybe/maybe not it will work. I'm not going to get sucked into this staking thing right away. I'm going to sell out 50% of my coins at various retailers (depending on the fee) and be very happy (assuming it actually works.)
Honestly Chris, if you've been involved in IPOs for 20 years, then you know that the only thing that matters is whether or not the people investing think money can be made. We've both lived through the .com IPO craze and I point you to Webvan.com:
At its November 1999 IPO, Webvan raised $375 million, shares traded at around $30 and the company was valued at $1.2 billion. But that was its peak.
We both know how that turned out.
I have no idea how GAW raised 100MM. Josh said a lot of it came from them, and we were told there were a lot of initial investors (minimum of 1MM each) where they had to cancel the 3rd round ICO. We know about the Cantor guy and Josh stated there was VC (probably one in the same.)
