Either the developer is a lunatic, or this is a giant money grab. To ask 50 BTC for a 1% stake in a project like this is absurd. This project may be worth 50BTC as a WHOLE, not for 1%. What does the dev have to show other than a few lines of code? Who are you, dev? Why should the community trust a sock puppet account, with no reputation? Do you have a WOT account? Who else is on your team? Do you have a timeline, a business plan, in other words you need to provide a little more before anyone ( except true fools) will trust you with their BTC.
Consider two other currencies that used the IPO model, NXT and Mastercoin. NXT took 21 BTC for its IPO, providing the full 100% of NXT to investors. The return on this investment was around 3000x. Next, let's look at Mastercoin. Mastercoin raised 4700 BTC, but they had a team of developers and a solid plan. Investing in Mastercoin would have netted between 100-200x, depending on what time you sold. For this project, if we take the 50BTC = 1% stake, you'd need for this coin to have a ~100,000,000 market cap, just to see a 25x return. Most coins never break 10,000,000 let alone a hundred million. So not only is this an extremely high risk investment, it's also low reward.
In his communications, the dev says things like "initial investors will become outrageously rich". Not only does that sound bad coming from the developer of a purportedly legitimate coin, but no one will become rich with the current model except for the dev. Overall ,I say that this project has a very high chance of being an outright scam. If it isn't a scam, and we're just dealing with a megalomaniac dev, your potential earnings are so low as to be laughable for this level of risk. Stay away.
Pro analysis. +1
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