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Discussion Starter · #1 ·
Hi Guys,

I don't normally post things like this but it does seem legit to me. It is paypal's answer to bitcoin and is free to sign up, all you need is an email address. With a huge company like paypal behind it this is worth the punt to me for just an email (I have used a secondary email just in case, but have received no spam from them).

You just have to refer friends and it gives you free Q's which are their new form of currency. Worth nothing at the moment but for something that could be worth something one day I fee l it is worth the punt:

https://initiativeq.com/invite/rB8lgfV07

https://www.moneysavingexpert.com/news/2018/10/initiative-q/

https://www.vox.com/the-goods/2018/11/8/18075816/initiative-q-email-cryptocurrency-bitcoin-paypal-saar-wilf
 

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Very skeptical about Initiative Q. For those that are interested in signing up, keep a couple of things in mind here.

This is not a cryptocurrency. Initiative Q enjoys being compared to Bitcoin because it pulls in those that aren't familiar with cryptocurrency, but Initiative Q is the furthest thing from a cryptocurrency. Things like Bitcoin have allure due to their decentralization. It isn't owned by any central entity, which means that Bitcoin cannot be inflated by an entity printing more Bitcoin or lose all value when the entity who owns it collapses. It also prevents counterfeiting when determining transactions as everything has to be double-checked to approve all members of said transaction.

Initiative Q is the exact opposite. It is a centralized currency that can be printed en masse by those who own it. They're essentially acting as another bank and they can manipulate transactions how they see fit.

Their website is a very classic pyramid scheme and they use time-gates to push the urgency of your sign-up. Upon going to the website, you'll immediately be flashed a huge number: currently sitting at $18,674 for me. That money is their promise to you once you've successfully registered for an account and referred five people. Those same five people are given the exact same number, so long as they refer another five people. Thing is: they haven't substantiated their currency yet. It's worth zero at the present moment, so how could they promise that amount of money to you?

The other problem is privacy. Read their statement here.

We may share the Personal Data we collect with our service providers [...] and subcontractors who assist us in the operation of the Site and process the data on our behalf and under our instructions. We may use service providers [...] and/or subcontractors and/or cooperate with or have business partners and affiliates located in countries other than your own, and send them your Personal Data. [...] while we strive to use commercially acceptable means to protect your Personal Data, we cannot guarantee its absolute security.
For a site that utilizes sign-ups through Facebook, Twitter, and Google, your data has a lot of risk attached to it when you transfer it over to Initiative Q. From my perspective, I think people are just lazy enough to sign up with their Facebook information. That's tons of personal and private information that should be used carefully and sparingly on the internet. People are not that safe, which is what I feel Initiative Q is banking on. If you are going to sign up for this new currency, please use a throwaway email and encourage others to do the same.

Overall, this seems like an interesting project - albeit I'm skeptical. I posted this not to dissuade people, but to be careful and read everything you sign up for!
 

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Discussion Starter · #3 ·
Thanks for your reply, yes that is why I recommended using a secondary email. I too am sceptical, but this could be a good opportunity. And with a useless email address as the only current risk I see that as a good potential risk;reward. I don't see there forecast as anything near realistic either, but you never know. Even if a Q is worth a penny one day it is still worthwhile
 
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