Initiative Q - Is It Legit?

in #initiativeq6 years ago (edited)

By now you've likely seen some posts about a new digital payment system called Initiative Q. It doesn't exist yet, but it's something that is being worked on. At this point, you can only get involved via referral link, but before you sign up for anything, it's always a good idea to do some research. Here's what I've learned, and my resultant opinions about the project. Let's start with what Initiative Q is not.

Initiative Q is NOT a cryptocurrency
Proof of Work cryptos have been increasingly criticized for the massive amount of energy required for their distribution and use. By contrast, since Q's are distributed via this sign up process, there is relatively little computing power used by the network. There are no complex mathematical problems involved in the distribution or the verification of transmission of Q, therefore, while it certainly aims to be a digital currency, it is not a cryptocurrency.

Initiative Q is NOT being built by PayPal
I can find no evidence linking PayPal to this project. According to their website, Initiative Q is the brainchild of Saar Wilf, who built a payment security system that was later purchased by PayPal. This does not mean that Initiative Q is being created, funded, or otherwise adopted by PayPal. It does appear that the team behind it is solid, and made up of experts from various disciplines who have all come together to create this new payment system. But PayPal does not appear to be behind this.

Initiative Q is NOT a pyramid scheme
While it does share some of the hallmarks of a pyramid structure, they're not asking for any money. All they're asking for is your name and email. You do get a referral bonus for signing people up, and those people also get a bonus for signing people up, but as far as I can tell, you don't get bonuses for the people 2 levels down from you. They also limit the number of people who you can sign up with your referral link. This makes me think they really are just trying to get a lot of people from diverse backgrounds to sign up. They have to distribute it somehow for free, and this seems as valid as anything.

So, is it a scam?
There are a couple of things on their website that made me wonder if it was valid. Specifically, their site makes the comparison that signing up for your free Q's is like if someone gave you free Bitcoins seven years ago. This is a bit of a red flag, as it's the same technique of FOMO used to try to sell people on scammy ICOs. However, since they're not actually selling anything, I decided to try it out. I signed up and here is the result.

Screenshot_20180714-232027~2.png

As promised, I am now the proud owner of 14,009 currently worthless Q, with more promised if I sign more people up. So far, everything that was promised has been delivered.

All this leads me to believe that Initiative Q is a valid, legitimate operation. Whether it will amount to anything tangible remains to be seen, but the project seems to be real and seems to have actual experts involved, with actual experience in financial systems. It seems worth a shot to me, but please do your own research and decide for yourself by checking out their website.

If, after looking into it, you decide you'd like to be involved, you can sign up with my link (assuming you're one of the first five people to do so): https://initiativeq.com/invite/SLbBuyuX7

If you do use my link, let me know in the comments, so I can verify you.

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i have 14073 Q on my account but unfortunately, my invites are expired ...

invites q.PNG

The invite link is here: https://initiativeq.com/invite/BN9eY4Rh7

Let me know after you registered, because I need to verify you on my end.

please verify me :)

Done - I got a few more on

https://initiativeq.com/invite/BN9eY4Rh7

Fast verification here:
https://initiativeq.com/invite/HN8Wb_oh7

Grab a spot while you can!

Thanks, @parkoro for sharing. I have used your link. Can you please verify me ? Thanks

Hey @parkoro. Thanks for sharing! Could you verify my registration as well?

Congratulations.... I decided to follow your link and see what it's all about.

Now if you wouldn't mind, would you confirm you know me and we can both start to make more imaginary money... Lol 😂😂😂😂

Confirmed you, and can verify that I got my extra Q's for it. Welcome to the Q.

Thank you my friend. Ignore my newest post where it says I was waiting for you to wake up and verify me... I had to refresh my Q account and now I can see you have 😂

No worries. Should be square now.

I have 4 left as of this post - use this link https://initiativeq.com/invite/rH5xSYEhm

Thanks for the link :) Can you verify my registration? That would be awesome

You are verified. Thanks for using my link.

I think I have used your link

Yes, I have verified you Sergioo. Thanks!

hey, can you verify me also?

if you are looking for a invitation spot, Here is my invite link: https://initiativeq.com/invite/SEqPSHMp7
Let me know after you registered, because I need to verify you on my end.

If you need another link for joining, here's mine:
https://initiativeq.com/invite/SUdr6A93X

I'll get an e-mail after you signed up and will accept as soon as I notice

nice!

Seems like a good project.

A reminder

If you need another link for joining, here's mine:
https://initiativeq.com/invite/SUdr6A93X

I'll get an e-mail after you signed up and will accept as soon as I notice.

Let's make some imaginary $$$, I'll verify ASAP! Here's my invite link: https://initiativeq.com/invite/HGmSWF6nX

Thank you for your continued support of SteemSilverGold

Here is an invite if anyone comes across it in the next few days: https://initiativeq.com/invite/SElURwKEX

nevermind.

I belive in Initiative Q !!!

I don't. It sounds rubbish and does nothing to disrupt current banking cartels.

I couldn't resist checking it out either! Link above has no invites left but you can use mine https://initiativeq.com/invite/HQ3Eh_e2Q

Please remember to use random passwords just in case guys rather than throwing in whatever you use for your email like I'll bet half those registered have done so far 🤑

This project appears legit... Time will tell. I like their distribution model too. I am however a bit late for the party and only got 5000 Qs. If anyone wants to join the party let me know

2 invites left: https://initiativeq.com/invite/HGGlkhwh7
I'll validate ASAP. Cheers

Here is my invite link:
https://initiativeq.com/invite/SMNLvQC3X

I have 4 invites left :)

No whitepaper? If they had one then I could say with confidence that they have stolen the economic model from my project.

However from what little they have written I am sure that they are ripping off my economic model.

From what I read no one really knows how "legit" this is, and we should all err on the side of caution etc etc, but for 2 seconds of time it takes to signup and the fact that it's free, and finally the fact that we don't need to share any personal data with them besides name and email, even if there's only like a .001% chance it might be worth something, I don't see the harm in signing up IMHO :)

If you are looking for a invitation spot, Here is my invite link: https://initiativeq.com/invite/Bb65nHlp7

This link will stop working once I’m out of invites. Let me know after you registered, because I need to verify you on my end.

Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of credit cards that were designed in the 1950s. The system uses its own currency, the Q, and to get people to start using the system once it's ready they are allocating Qs for free to people that sign up now (the amount drops as more people join - so better to join early). Signing up is free and they only ask for your name and an email address. There's nothing to lose but if this payment system becomes a world leading payment method your Qs can be worth a lot. If you missed getting bitcoin seven years ago, you wouldn't want to miss this.

I'm at second level and have 7 more as of now -

https://initiativeq.com/invite/rH5xSYEhm