Why would the code not be open sourced? That's a bit scary. Any reasonable explanation as to why they would choose this path?
hey nuno, thanx for taking interest in XC. Im just a small holder, like many others, but ive been in XC thread since day 1. If you have the time and want to search the topic for clues, you will see for yourself that it is no regular P&D alt. It does not follow altcoins trading rules(parties have been manipulating from the start, probably big holders), and there is a a talented team behind it(you can check official XC team .pdf). Synechist is a part of it, and he's been doing a great deal of work.
There is no concern of their legitimacy(there are actual photos of the bitcoinbeltway in DC where they promoted XC) and there appears to be a significant amount of work being done backstage. They work by a real business plan, not P&D promises.
Most importantly, the things being developed are not limited to privacy-anonimity per se, but a lot of other groundbreaking stuff, which were NOT announced because of "anon" trend fading away, but were included in core development since the get-go.
ps: I realise most guys here have a good programming or tech related background and despise closed source, but I respect one's right to protect one's -possibly- life's work.