I would like to preface this post by saying I am extremely new to altcoins. I just have recently begun purchasing bitcoins but I wanted to look into getting involved with an altcoin. One that has particularly caught my eye is the one listed in the title of this post: Ambrosus.
From my forum stalking, there seems to be a general distrust of altcoins; however, this one does seem quite legit. If you haven't heard about this coin, it is launching through Ethereum and aims to create "the world's first publicly verifiable and community driven ecosystem to assure the quality, safety, and origins of food." Here's the link to their webpage:
https://ambrosus.com/#overviewI had a few questions regarding this coin but dont really know where to find the answers so I am hoping this forum might be able to help me out.
First, am I drinking the coolaid too quickly regarding this altcoin? The team of devs looks pretty sterling and its endorsements (including the UN) make me think this could be a relatively safe investment. Is this correct?
Second, I am curious how the value of this coin will be determined. Because it is using Etherium smart contracts, will it therefore have the same value as ETH? Also, does anyone have any clue what the ICO will begin at price-wise? It does not occur until mid-September but I would appreciate any input on this.
Lastly, is this a scam? I do not think someone would put this much effort into a scam but then again I am an (extreme) newbie at all of this.