Basically you buy hashing power anywhere between 100usd to 3000 usd per month to get some of the currency. Then at Christmas time it all becomes open source so anyone can mine it. Here is a link to have a look inside
http://gravitate.globalcoinreserve.com/
OK so I have the opportunity of talking to the person who made this later what questions would you ask to establish if it is actually real? I have already asked to see the block chain but he said he didn't want to waste his programers times as when it launches it will be working with etherem when public so it will be a waste of time.
Also currently there are no wallets to download only the ones you see in your back room etc.
Another claim is that this coin is coin to be backed by gold. I.e. If the coin is worth 1 usd then you can trade it in for 20 cents of gold.
How does this all sound to you and what questions would you ask as I will do today a bit later?
Flash forward to today. How was it?
Oh come on I never entered it just checked it out. I started an altcoin my self so the claims that a coin not on the market was worth more than 50 cents each I stayed well clear of. But I could be kicking myself now. GCR could have over taken Bitcoin. It hasn't yet though.