Something I don't understand yet. Lets say I want to make a new currency ("ImaginaryCoin" or IMC lets say). That currency isn't on any exchanges. How would I give IMC value through Bancor? Do I just make a value up (1 ETH per IMC or 0.25 BNC per IMC or etc.)? I haven't seen a clear outline on that process yet.

For a normal cryptocurrency the value is determined by its exchange value, but Bancor is looking to bypass counterparty. They say the price is self-regulating and will stay at market value, but what about coins without an existing market value like this hypothetical IMC currency? What determines the starting price?