it's IOU - like what liquid was selling before with other coins that have not yet been released. probably hitbtc invested a handful of BTC into ZrCoin ICO.
but damn, even at $55 price and someone's will to pay at that amount?? unless hitbtc is just manipulating and buying their own sell orders to lure some noobs into buying it.
Considering its a real company with a working industrial plant besides the amount of tokens is capped. I think the price is reasonable
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Well, we're actually giving a lot of value to coins with no backing.
This is a cryptocurrency that has an actual operational plant going on and has a redeemable item below which it can't decrease and not only that, you get a share in the company holdings.
I see no reason why this price wouldn't be realistic.