The fact that this project is legal since it clones an open source code doesn't make it legit.
Just cloning a project people are working on for a long time and modifying several parameters doesn't justify an ICO.
You already get a lot of money by taking other community hard work so at least dedicate from your own time and create a basic working version of what you want and let the community decides if it wants to invest in improvements or not.
Just taking open source code with minor refactoring and ask for Bitcoins from us for development is a real shame and I promise you I have nothing personal here, I invested in several ICOs lately and I do not own any SDC, I am just writing my opinion on asking for money at such an early stage when you did almost nothing on your own.
The ICO is not really for the cryptocurrency but to develop the mobile platform that goes with it. It may not have been made clear, we will have a white paper and hopefully an alpha version of the mobile platform out very soon. The mobile platform is a kind of mix between Uber and Localbitcoins that is aimed at the small remittance market in Africa and Asia where increasing control and regulation makes it difficult for non-mainstream money transfer to operate. What we propose is something that hasn't been done before, a free app that will faciliate cash transfer and use an anonymous currency for balance settlement.
That is what the ICO is for. Spectrecoin has already been made and we are now working to complete the Tor integration. It will become clear soon. I will update the OP but it's all in the FAQ.
The ICO is to develop the mobile app and that will drive the value and we are not following SDC as such and will not implement a market. The app we are building though could be used as a payment terminal as well and a few other things.
I do see that maybe it's early stages but we will have something to shown soon and in time.