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Anybody know anything about this Initiative Q movement?

Discussion in 'Off-Topic Discussion' started by n2deep, Nov 12, 2018.

  1. Nov 12, 2018 at 2:54 PM
    #1
    n2deep

    n2deep [OP] Pavement Princess

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    Anybody know anything about Initiative Q? Is this legit? Only ask for name and email so don't have much to risk but wondering if anybody knows more. Supposed to be the best of Pay-Pal and Bitcoin for future payment of goods.


    Quote:
    Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of credit cards (designed in 1950s). The system uses its own currency, the Q, and to get people started they are allocating Qs to people that sign up now (amount drops as more people join). Signing up is free and they only ask for your name and an email. There's nothing to lose but if this becomes a leading payment method your Qs can be worth a lot.
     
  2. Nov 12, 2018 at 3:03 PM
    #2
    TXMiamiFan

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    Have not heard of it.

    Following.
     
  3. Nov 12, 2018 at 3:10 PM
    #3
    TXRailRoadBandit73

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  4. Nov 12, 2018 at 3:15 PM
    #4
    n2deep

    n2deep [OP] Pavement Princess

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    Well it sounds like they are trying to build a network before they build the currency- kind of makes sense. I was invited and signed up since there is little risk at the moment. Seems smart building the network with valid people since you can only sign up if someone can verify you and sends an invite. But eventually shithead thieves will find a way in.
     
  5. Nov 12, 2018 at 4:01 PM
    #5
    War Machine

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    Ok, first thing I’ll say is that I’m not very knowledgeable about cryptocurrency, nor do I participate in anything of the sort. I’m only commenting because I happen to come across a discussion about Initiative Q recently, when I was actually trying to learn about Bitcoin, etc.

    From what I gather, the cryptocurrency community is highly skeptical of it, and is advising people to steer clear of it. It was a topic of discussion because many of them and their friends had been approached about it via social media.

    They were basically saying that it is people laying the groundwork for a scam. Not actively ripping people off yet, but preparing to. They said it will take two forms:

    One part is the “all we need is an email address and a password to set up an account”. They said it’s a common tactic from scammers in different forms. Many people reuse the same password for everything. A high percentage of people who sign up will use that same password. They somehow automate the process, trying the password on different sites. Should you be one of those people, they now have your email and password for who knows what.

    The second part is they get a shitload of people signed up, then approach investors, saying “look, we’ve got a ton of members already”. Not sure how that all works, but they bilk the investors out of money somehow.

    Also, it’s not some former PayPal guys. It’s one guy, who sold a startup to them years ago.

    Though none of this is confirmed, it’s very similar to things that have come up in the past. At the very least they say to make a whole new email address, and use a password you’ve never used for anything else before.
     
  6. Nov 12, 2018 at 4:03 PM
    #6
    Black Wolf

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  7. Nov 12, 2018 at 4:42 PM
    #7
    n2deep

    n2deep [OP] Pavement Princess

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    Yeah I used my spam email account. lol
     
  8. Nov 12, 2018 at 5:12 PM
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    MikeyMTBs

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    It looks to me like a pyramid scheme. I’d steer clear.
     
  9. Nov 13, 2018 at 9:33 AM
    #9
    n2deep

    n2deep [OP] Pavement Princess

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    Stay away from - I don't see any risk since I am not giving them any $$ just a junk email address. I thought the same thing about bitcoin when I heard about it years ago.
     
  10. Nov 13, 2018 at 12:48 PM
    #10
    1794-BlackTundra

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    I'm in, thanks @n2deep for hooking me up... fresh fake email and random generated password... we'll see...
     
  11. Nov 13, 2018 at 12:50 PM
    #11
    backinblack

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    Some financial experts, however, have yet to be convinced. Mike Rymanov, CEO of Digital Securities Exchange (DSX), said: “The lure of fortune and the perceived lack of risk will undoubtedly attract many, but as it is a technology play rather than a payment network, they will ultimately be disappointed as their spam box fills up and their accounts remain empty.

    “While the company behind the scheme tries to justify its existence and marketing approach by making grand overtures it’s missing two key elements – an actual product and regulatory control. Before it can become a viable option for investors, Initiative Q will need to ensure it meets all governing requirements across all jurisdictions it operates in – which can, and will take years. At the moment, it’s simply too early to commit.”
     
  12. Nov 13, 2018 at 12:54 PM
    #12
    TheBeast

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    yeah couple of my friends on FB sending their own links to join..looks like pyramid scheme to me. if you need someone to tell you how to make money..most likely they are actually making money from you. lots of gullible people in this world.
    I was in the crypto world for a while. easy money is not as easy as you may think.
     
  13. Nov 13, 2018 at 12:55 PM
    #13
    melissallamp

    melissallamp New Member

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    So Forbes magazine joined Initiative Q the new bitcoin ( https://www.forbes.com/sites/lelalon...e-new-bitcoin/ ). I spent 30 minutes reviewing it and the best I can say is that it's a total hoax to see if they can trick people into joining him without declaring what it is or how it works. Each word on each page (including Frequently Asked Questions) seems to be 100% hyperactive. It is not shared how it really works. Even the name seems fake Initiative Q ... IQ ... as in "I'm testing your IQ to see if you're stupid enough to join."
    What you think?
     
    backinblack likes this.
  14. Nov 13, 2018 at 1:14 PM
    #14
    ToyotaTundraMike

    ToyotaTundraMike Not A New Member

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    Welcome to the forum
     
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