Initiative Q

[GregDott]

Not sure if anyone on here has heard of Initiative Q? As far as I can understand, it's aiming to replace all currencies.

Would love to hear some people's thoughts on this.

I find the concept quite exciting, and given that it's founder (Saar Wilf) started a company that was acquired by PayPal I'm even more intrigued.

 

[Jeff Noel]

I never heard of it, but it seems interesting. How long has it existed for ?

 

[GregDott]

Not too sure. It's pretty recent as far as I can tell. They are employing a similar strategy to PayPal in their early days. Giving out free money. Except in Initiative Q's case, it's free currency that does not yet exist.

 

[Jeff Noel]

Not too sure. It's pretty recent as far as I can tell. They are employing a similar strategy to PayPal in their early days. Giving out free money. Except in Initiative Q's case, it's free currency that does not yet exist.

Looks like Bitcoin's original objective (getting rid of other currencies). It would be nice to get invites, but I'm still skeptical with the whole blockchain and cryptos losing a lot of their hype in the last few months.

 

[GregDott]

Looks like Bitcoin's original objective (getting rid of other currencies). It would be nice to get invites, but I'm still skeptical with the whole blockchain and cryptos losing a lot of their hype in the last few months.

Yeah... It does seem to distinguish itself from cryptos in that it doesn't need to be mined and won't consume unnecessary amounts of energy.

It looks heavily like a pyramid scheme on the surface, but I think that's just due to their model for achieving mass adoption prior to launch.

 

[George Appiah]

It would be nice to get invites,

Here: Initiative Q Invite: https://initiativeq.com/invite/rX1WVJp27

 

[TinyTim]

Great way for them to create a massive mailing list.

 

[George Appiah]

Great way for them to great a massive mailing list.

They've passed 2 million already!

 

[lewj24]

Looks like a scam. I don't see how this would ever work.

They use a bunch of economic jargon and equations on their website to explain how it will work.

Do you really think the average person is going to understand and switch all of their money to Q's? Do you really think the governments of the world will also switch? How does this company make money? What is a Q???

Too many issues aren't addressed. Won't work. Calling it.

Maybe people will buy it in hopes of getting rich. Other than that, unless they are leaving out something amazing, this looks like a failure.

 

[Jeff Noel]

Looks like a scam. I don't see how this would ever work.

They use a bunch of economic jargon and equations on their website to explain how it will work.

Do you really think the average person is going to understand and switch all of their money to Q's? Do you really think the governments of the world will also switch? How does this company make money? What is a Q???

Too many issues aren't addressed. Won't work. Calling it.

Maybe people will buy it in hopes of getting rich. Other than that, unless they are leaving out something amazing, this looks like a failure.

I'm trying it. Won't spend a dime, but I'm trying it anyways. If they're asking me for money they won't get it. Already got 3.4K Qs... Who knows, I sold my Bitcoins when they were only worth $250 back in the days.

 

[George Appiah]

Maybe people will buy it in hopes of getting rich.

What's for sale for people to buy?

If you actually read the "bunch of economic jargons and equations on their site" as you call it, you would have found out they're specifically anti-ICO and anti-crowdfunding and are not asking for anyone's money.

They're taking a page from PayPal's early days... PayPal doled out real dollars to grow a critical mass of users. Even back then people screamed scam and how unsustainable it was for a startup to be dashing out cash to people just to signup.

These guys are just giving out phantom money which cost them nothing. At worst they sell my name and email address and I get on a few more mailing lists. But Gmail will take care of that... not the end of the world.

 

[GregDott]

I think it's one of those things where we will have to wait and see.

I'm 50% sceptical, 50% curious. What they are proposing is essentially through the roof. If it doesn't raise doubts there's a problem in the brain's survival mechanism. New and revolutionary generally signals as dangerous.

The idea that they are building a list of emails to sell is really the only argument I have seen against it, and that I have been able to think of myself. Maybe it holds water, but I'm not so certain about that.

Do you really think the governments of the world will also switch?

You may have a point here. There will probably be huge resistance from government if this ever picks up the way they are hoping. Then again, if people become convinced (however that might happen) and choose to adopt on a massive scale, what would a government be able to do about it?

 

[lewj24]

These guys are just giving out phantom money which cost them nothing

But how will a Q ever have value if it's just given away for free? I guess the idea is it will have value once people start to use it as a currency. Well that will never happen. Who's going to be the first moron to take your valueless Q coins in return for a product or service?

Money works the opposite way. People find something that has value that is also easy to trade. Like gold, silver, salt, and seashells. The thing has to have value first, otherwise nobody would trade for it.

So if you can convince me how a Q has value, then I could see how it could be a currency. But as far as I can tell it has no value and the odds of it becoming a currency is worse than bitcoin becoming a currency, which is also slim odds, because a bitcoin actually has some value.

People will dish out real money for bitcoin. They were doing it from the start. They gave real money with real value for bitcoin, which made bitcoin valuable since people would buy it.

Maybe since you are giving your emails away for a Q then whatever your email is worth is how much a Q is worth? I don't get it.

Maybe I'm wrong and need to be educated more on this topic. If you can convince me why a Q is valuable then I will change my opinion.

 

[George Appiah]

Who's going to be the first moron to take your valueless Q coins in return for a product or service?

Like Bitcoin?

Turns out there are a lot of "morons" out there, including big corporations and publicly traded companies.

So if you can convince me how a Q has value,

I've got a business to build and a life to live. Convincing people is not on my to-do list.

Maybe since you are giving your emails away for a Q then whatever your email is worth is how much a Q is worth? I don't get it.

I don't get it either. But what have I got to lose?

 

[lewj24]

I've got a business to build and a life to live. Convincing people is not on my to-do list.

Really dude...

Like Bitcoin?

Turns out there are a lot of "morons" out there, including big corporations and publicly traded companies.

Bitcoin is different. You have to spend money to mine one. And people started slowly paying money for them.

 

[lludwig]

Another ponzi scheme in the making....