Colored Coins Questions

I crawled around the web a bit and spoke to few people, but I still only understand colored coins theoretically. So here I will jot down few personal questions.

  • What are the good use cases for colored coins?
  • Is this system trustless?
  • Do I have to trust the issuer?
  • How do I get colored coins from the issuer and why?
  • Can I use colored coins for a timebank?

This dude for example issued a token which allows you do get on his podcast, as far as I understand, if you purchase it. At the moment I am writing this page he is the only holder of this token. The question is, unless I want to be on his podcast, what am I supposed to do with those assets, trade them?