The coin that ABC is going to try getting mined in November is really quite a lot like the Initial Coin Offerings (ICO) of a couple of years ago.
Take a look:
There is a group with a shady whitepaper (aka global network council), trying to get anonymous people to pay them for tokens. Mostly by unsuspecting miners, but no doubt via other methods as well.
Similar to the ICOs all the money goes to one man or team, based on hot air and grand ideas. People paying don't get a contract they can claim money back on, they instead get a token that is valued at market.
It is quite likely that the coin will get some mining power behind it, much like there were 1000s of funded ICOs. People love gambling on the next get-rich-quick scheme.
The coin will likely be short lived as people wise up and see the market move. Lots will sell and then stop mining. A lot of people will be left holding bags as the price goes down.
Like in ICOs the IFP scheme of printing money for ABC will breaks laws, or requires getting licenses in various countries (like the US). While the chance is small that this chain will live long enough for policymakers to care, it may just be shut down by various governments in the case it does.
Very much like all the ICOs, the ABC team will not actually produce what they promised and likely will just disappear. Moving the mouse once every now and then to appear to still be online. We have been seeing this already in the last months.
What do you think?