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What and who is Initiative Q? Initiative Q
is a project aiming to build a new payment network. According to Wikipedia, it is created by Israeli entrepreneur and professional poker player Saar Wilf. It is backed by Cato Institute economist Lawrence H. White.
To help get early adopters, Initiative Q are giving away their own currency or points, called Qs. It's 100% free. There is currently a lot of news and speculation about whether it's an opportunity or a pyramid scheme type scam.
All that is known is, it's not another cryptocurrency like Bitcoin, and Initiative Q is only going to gain traction, or potentially hold monetary value if adopted on a global scale. No one knows; at the moment Initiative Q is a mystery.
Since we're only sharing a name, email address and password, (which we use with any other social network anyway), I personally see it as a potential
opportunity. As long as your Initiative Q login details are unique i.e. you do not use them with anything else. NB
: They're not
asking for any money. This is what made me feel it's potentially not some type of scheme; more of an ambitious project, and something for early adopters to gain from, if it takes off in later years. Why I'm trying it out. The only thing they can gain from us is our chosen email address, username and password. Worst case scenario...
...they are out there to make money off us, by selling the login details to advertisers, like many companies already do that we sign up to. Or even worse by trying to break into accounts that use the same login details: this is easily avoided by using unique login details with a new Gmail account, when signing up for Initiative Q. Alternatively...
(if they get this off the ground) they can make money by taking a small percentage for each Q currency transaction. Which would be worth something at that point. This would make sense as a legit currency company. If uncertain (which is understandable), and yet curious enough like myself to try it out...
...register a new separate Gmail address to use when signing up. Just in case, I suggest using a unique username and password that is not affiliated with anything important to you, example your bank details etc.... Rather be safe than sorry
Now, if this is legit and we all use safe username and passwords, there is only to gain in the future. And if nothing comes from this, then so be it. Years ago Bitcoin was also under scrutiny...
...whether it was real or a waste of time. No comparison, except that Initiative Q is ambitious.
After reading many articles, including the Forbes.com
article below which has a positive outlook on it, some are saying it is a scam/pyramid scheme, and others an opportunity. You can decide for yourself.
Forbes article states: "While it is imperative for people to question all financial decisions they're presented with, a company simply cannot exist as a pyramid scheme if there is no information - let alone money - to float up the pyramid."
Personally, if this may be the new best thing I do not want to lose out. At the same time we should use unique login details for security purposes, just in case. I see it as, if one does not try, one shall never know. One way or another we're going to find out.
Suggest doing your own research via Google or YouTube.
- Forbes.com article - https://www.forbes.com/sites/lelalondon/2018/11/01/is-initiative-q-the-new-bitcoin/#56176e63783f
- Approx. 3min (3rd party) YouTube overview news video on Initiative Q: https://www.youtube.com/watch?v=maekWDJRSbc
- Initiative Q economic model: https://initiativeq.com/knowledge/economic-model
- Initiative Q FAQ: https://initiativeq.com/FAQ
- (3rd party) Quora question: https://www.quora.com/What-is-this-new-cryptocurrency-initiative-Q-is-it-legit-https-initiativeq-com-invite-rWXFesTbm
- Wikipedia.com: https://en.wikipedia.org/wiki/Initiative_Q
- General article: https://www.moneysavingexpert.com/news/2018/10/initiative-q/
- Is it a pyramid scheme article: https://ftalphaville.ft.com/2018/10/26/1540526405000/Initiative-Q--an-elementary-pyramid-scheme-with-grandiose-ideas/
- Response from the creator Saar Wilf article: https://davidgerard.co.uk/blockchain/2018/10/31/initiative-q-a-response-from-saar-wilf/
- Australian news article: https://www.news.com.au/finance/money/investing/what-is-initiative-q-payment-network-insists-its-not-a-pyramid-scheme/news-story/193102b9fbb5c35d6365f7f34226908f
Initiative Q's aim:
- Eventually replace the use of the current credit card system
- 1Q = $1 (US)
It’s by limited invite only, and I currently have 10 invites.
Click or tap my personal invite link: https://initiativeq.com/invite/SeUZXICiX
After clicking the link and I confirm your invite I get extra Q points, and you get the chance to start building up your own.
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