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Initiative Q

  • 25-10-2018 12:48am
    #1
    Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    Has anyone heard about Initiative Q. A new payment model currently giving away creidts to early adopters. While not strictly speaking a crypto currency. It shares many features with that sort of model.
    To join you need to be invited by a current member.
    "This is a new currency and payment network built by ex-PayPal guys, called Initiative Q. The Q currency is currently being allocated for free if you are invited by an existing member.
    The idea is that if millions of people join, Q could become a leading payment network, and, according to well-known economic models, that means the value of the reward would be around $130,000.
    The amount you reserve decreases every day, and each member has a limited number of invites. You can use my invite link here:
    https://initiativeq.com/invite/rbGjusnsm
    (Don’t worry. No funny stuff. You just need to give your name and email and your spot is reserved)."

    Full disclosure, the above it my join link. It's valid for a few days. I'll repost when its' dead. Or whoever signs up can replace it with theirs and so on.

    https://initiativeq.com


Comments

  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    Here is the reasoning behind the valuation;

    The reasoning behind the estimated future value of the Q payment network can be summarized as follows:
    • The payment world is stuck with decades old technologies, since it is very difficult to get buyers to adopt a new technology that sellers don’t yet support and vice versa.
    • Q solves this problem by compensating early adopters with future currency. This enables the building and adoption of a payment network that is far superior to current ones.
    • A payment network that is both superior technologically, and widely adopted, would be preferred by both buyers and sellers.
    • It is realistic to expect that such a network would eventually overtake credit cards, which account for $20 trillion in annual transactions.
    • The total amount of money in the world is roughly half the world’s annual economic activity. The value of all Q currency could thus reach half of Q’s annual volume (i.e. $10 trillion).
    • An alternative data point is the value of cryptocurrencies which peaked at nearly $1 trillion, despite hardly being used for real payments (nearly all activity is speculation).
    • Therefore, the total future value of Qs could reach a few trillion dollars. Since there are currently 2 trillion Qs, the goal of one US dollar per Q is achievable.

    Looks like the goal of $1 per Q would be about 20% of credit card volume ($2.5 trillion). which seems highly speculative. Paypal has broke half a trillion for the first time between july '17 to june '18. By 2020 it might be touching 1 trillion. Which suggests 5 Trillion is a huge ask.


  • Registered Users Posts: 9 Coneire


    Worth a look seems interesting... Could be like the stellar (xlm) give away a few years back. It's a tough market to crack though so will see what happens.

    I have 5 invites if any one needs one ? Pm or can post here when the Ops one is expired.


  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    Coneire wrote: »
    Worth a look seems interesting... Could be like the stellar (xlm) give away a few years back. It's a tough market to crack though so will see what happens.

    I have 5 invites if any one needs one ? Pm or can post here when the Ops one is expired.

    Approved. :D

    I highly doubt it's going to hit the published target. But we also can't lose anything either.


  • Registered Users Posts: 2,649 ✭✭✭ Whelo79


    This went through the referral link thread about 5 months ago Mellor. Lots of people on here signed up. Pages upon pages of people sharing their sign up links.


  • Registered Users Posts: 1,818 ✭✭✭ Pintman Paddy Losty


    The pyramid schemes are becoming even more blatant. Listing half of all global wealth as an achievable goal. My god.


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  • Registered Users Posts: 1,351 ✭✭✭ emc2


    If anyone needs an invite I've got a couple, send me a pm.


  • Registered Users Posts: 1,818 ✭✭✭ Pintman Paddy Losty


    If just like to repeat that this is quite clearly a pyramid scheme. People here offers invites to join to try and get a few tokens for themselves are at best idiots and at worst scammers.


  • Registered Users Posts: 9 Coneire


    If just like to repeat that this is quite clearly a pyramid scheme. People here offers invites to join to try and get a few tokens for themselves are at best idiots and at worst scammers.

    Thanks for the info but I don't see it as a pyramid scheme, as no one is investing anything except an email. It's a project that developers are trying to get off the ground by giving away free credits. A lot of projects in Blockchain use the same approach with airdrops to get new adapters.

    All it is really is a shot in the dark and a chance to roll the dice. Its up to the user what they do with the account. Nothing to lose signing up except probably a few spam mails.


  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    If just like to repeat that this is quite clearly a pyramid scheme. People here offers invites to join to try and get a few tokens for themselves are at best idiots and at worst scammers.
    Scammers. Lol. What exactly are people being scammed out of?
    There's a difference between multi level marketing and pyramid schemes. One is viable, the other is s scam.

    Also;
    Listing half of all global wealth as an achievable goal. My god.
    It says global wealth is half of global economy activity. Statement of fact. It's says nothing about half the wealth being the target. Reading comprehension FTW.


  • Registered Users Posts: 1,818 ✭✭✭ Pintman Paddy Losty


    Mellor wrote: »
    Scammers. Lol. What exactly are people being scammed out of?
    There's a difference between multi level marketing and pyramid schemes. One is viable, the other is s scam.

    :rolleyes:

    attachment.php?attachmentid=464590&d=1540470091


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  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    :rolleyes:
    [
    Pretty terrible rebuttal :rolleyes:

    But my all means feel free to not let yourself be scammed out of $0 :pac:


  • Registered Users Posts: 2,649 ✭✭✭ Whelo79


    Lads don't bother replying to him. The only way he can get off is with cheap booze, cheap women and cheap laughs from trying to troll people on here. Just read through his post history and it's clear to see all the above is accurate.


  • Registered Users Posts: 6,796 ✭✭✭ Grumpypants


    Mellor wrote: »
    Pretty terrible rebuttal :rolleyes:

    But my all means feel free to not let yourself be scammed out of $0 :pac:

    Yeah but add your €0 to your friends 5 €0's and their friends 5 €0's. I havent worked it out but i'd say it's a lot :)

    Paddy is just distraught that he missed the crypto boat and instead of being happy for all of us that made super returns he spouts bitter nonsense.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    I'd love for somebody to give a single reason for this POS to exist and how they'll manage it. Without quoting whatever MLM blurb they're spamming about it being the future because that's the why. It seems to me to be a highly centralised shítcoin that claims it isn't one but gives no reason for why it isn't.

    Until some evidence to the contrary comes out I'll be siding with Paddy - the MLM FB spam is enough to put me off and the total lack of any single technical detail points towards nefarious intentions. I find it odd that there's a bunch of posts about it on a crypto forum considering they're brazenly stating it's as centralised a shítcoin as a shítcoin can be.
    They want to be the central bank for it and nobody here blinks an eye! Hilarious. Easy to see how EOS got so big.


  • Registered Users Posts: 1,818 ✭✭✭ Pintman Paddy Losty


    Whelo79 wrote: »
    Lads don't bother replying to him. The only way he can get off is with cheap booze, cheap women and cheap laughs from trying to troll people on here. Just read through his post history and it's clear to see all the above is accurate.

    Less of the personals pal. The booze I drink may be cheap but the women unfortunately are not.

    Thanks for the support grindle.


  • Registered Users Posts: 2,649 ✭✭✭ Whelo79


    grindle wrote: »
    I'd love for somebody to give a single reason for this POS to exist and how they'll manage it. Without quoting whatever MLM blurb they're spamming about it being the future because that's the why. It seems to me to be a highly centralised shítcoin that claims it isn't one but gives no reason for why it isn't.

    Until some evidence to the contrary comes out I'll be siding with Paddy - the MLM FB spam is enough to put me off and the total lack of any single technical detail points towards nefarious intentions. I find it odd that there's a bunch of posts about it on a crypto forum considering they're brazenly stating it's as centralised a shítcoin as a shítcoin can be.
    They want to be the central bank for it and nobody here blinks an eye! Hilarious. Easy to see how EOS got so big.

    I don't see what the confusion is? People are being offered the potential of free money for nothing more than an email address. Personally I couldn't give 2 ****s what type of 'coin' this one is.

    There are plenty of similar ones around aiming at the universal income model. This is just another one. Would I invest money into it? Hell no. Would I give an email address for some free tokens/coins, why not?


  • Registered Users Posts: 6,796 ✭✭✭ Grumpypants


    grindle wrote: »
    I'd love for somebody to give a single reason for this POS to exist and how they'll manage it. Without quoting whatever MLM blurb they're spamming about it being the future because that's the why. It seems to me to be a highly centralised shítcoin that claims it isn't one but gives no reason for why it isn't.

    Until some evidence to the contrary comes out I'll be siding with Paddy - the MLM FB spam is enough to put me off and the total lack of any single technical detail points towards nefarious intentions. I find it odd that there's a bunch of posts about it on a crypto forum considering they're brazenly stating it's as centralised a shítcoin as a shítcoin can be.
    They want to be the central bank for it and nobody here blinks an eye! Hilarious. Easy to see how EOS got so big.

    I just made 10k future dollars for signing up. But if it comes to nothing what have i lost? 30 seconds of my time. Why not take a punt.

    But anyway at this stage I've lost count on the number of "useless ****coins" that I've made serious money on that the so called savvy investors passed up on.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Whelo79 wrote: »
    I don't see what the confusion is? People are being offered the potential of free money for nothing more than an email address. Personally I couldn't give 2 ****s what type of 'coin' this one is.
    So this isn't a cryptocurrency forum? There's some kind of token in some form of database being given away via viral referral marketing (not the worst way to decentralise the spread of tokens - that was smart) which is somehow linked to three different ERC20 tokens which the creator of the token isn't sure what to do with or if they'll be used at all. No mention of any node-spread, decentralisation is scoffed at, trustlessness is out the window. These are kind of central to crypto. Otherwise you'd all be here shítting the same bricks and spamming eachother's referrals if the Irish government issued *drum-roll* Leprechoin B]LPC[/B. Which would be a sad state of affairs. This is about the same level of sadness.

    Whatever about the intentions and whether they're nefarious or whether the creators make you money or not - it isn't a cryptocurrency and doesn't aim to be used as one and doesn't consider any of the main principles of crypto to be in anyway important. It should be in it's own MLM sub-forum like Dascoin and that other crap.
    I'm stunned you guys aren't seeing this.


  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    grindle wrote: »
    Whatever about the intentions and whether they're nefarious or whether the creators make you money or not - it isn't a cryptocurrency and doesn't aim to be used as one and doesn't consider any of the main principles of crypto to be in anyway important.
    Correct. It isn't a crypto, it doesn't claim to be one.

    Which makes you assessment that it's a bad crypto is bit pointless. It doesn't tick the boxes for a good secure crypto as it's that's not part of the model.
    There's no mining, no blockchain afaik. The items you are looking for don't exist because they aren't a part of the system

    It's a payment network, not a crypto. It's value or worth should be measure by the viability of that payment network. Not it's adherence to the principles of crypto.
    The MLM is an attempt to build a user base so that it can hit the ground running with it's payment network. The network needs members to be a success. If it succeeds, the early adopters are rewarded. If it's not, the whole thing flops and people who actually investors lose money. Sign-ups aren't investors.

    There is a chance it's a scam, but in that case, it's the capital investors that are scammed. And nobody cares about them tbh.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Mellor wrote: »
    Correct. It isn't a crypto, it doesn't claim to be one.

    Oooookay. I'm more and more astounded that people aren't getting this then.
    oJEBfDe.png
    That's the name of this sub-forum, that's the subject it's supposed to be about, that's what it's for, it's what's supposed to be here - I can't possibly express this enough or more clearly but everybody's acting like they're brainwashed by greed.
    Ye're all defending it's right to be here but the only argument in it's favour would have the forum renamed to
    h61Q6q5.png

    Is that what this place is? Sher we can start speculating on knickers Daniel O'Donnell has shoved up his hole then. Let's all start trading them and buying stuff with his stink-covered panties - who cares as long as me make money, amirite guyzzzzzzz? Screw cryptos, that's not what this forum is about! It's about making money from total horseshít! :rolleyes:


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  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    grindle wrote: »
    Oooookay. I'm more and more astounded that people aren't getting this then.

    I don't think any one is not not getting that. Read my first post.
    While not strictly speaking a crypto currency.

    I haven't defended it right be be here. My response above was in relation to all the other incorrect stuff you said. (Which you've no distanced yourself form). I made no case for why it should be on this forum. I openly acknowledged it wasn't a crypto.
    That's the name of this sub-forum, that's the subject it's supposed to be about, that's what it's for, it's what's supposed to be here - I can't possibly express this enough or more clearly but everybody's acting like they're brainwashed by greed.
    Look at it the other way. What harm is it doing here?

    Other than this one, there is one other threads that have been active this week. The front page covers months of posts. This thread isn't pushing any content out of view.


    If the mods feel like it shouldn't be here, they will take the 2 seconds to move it to a more relevant forum. Or if they feel this is the most relevant place. It will stay. That's their call. Not your decision, not my decision.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Mellor wrote: »
    I haven't defended it right be be here. My response above was in relation to all the other incorrect stuff you said. (Which you've no distanced yourself form).
    What incorrect stuff have I posted? We both agree it isn't a crypto, I was just detailing why it isn't one. Why they have ERC20 tokens set aside for some reason is a bit baffling but we both agree it's not a crypto. Great!
    Mellor wrote: »
    I made no case for why it should be on this forum.
    Mellor wrote: »
    What harm is it doing here?
    If that isn't making a case for it to be here then what is? And the answer to that question:
    Mellor wrote: »
    There is a chance it's a scam, but in that case, it's the capital investors that are scammed. And nobody cares about them tbh.
    Yay, if nobody puts money in nobody gets harmed - if somebody does put money in and those people get screwed then who gives a toss? What a wonderful philoophy.

    At best it should go straight to the 'Investments & Markets' forum as we know it's not a crypto and I reckon the only reason it's gained traction here is because crypto naturally attracts 'Get Rich Quick No Matter The Cost' types.
    You must've posted it here specifically for some reason - care to divulge?
    Mellor wrote: »
    Other than this one, there is one other threads that have been active this week. The front page covers months of posts. This thread isn't pushing any content out of view.


    If the mods feel like it shouldn't be here, they will take the 2 seconds to move it to a more relevant forum. Or if they feel this is the most relevant place. It will stay. That's their call. Not your decision, not my decision.
    I hadn't realised this forum's low activity during a bear market constituted a green light for any old crap designed to siphon money from the gullible. The only reason I'm not reporting it is because I'm fascinated by people's greed and the ability to rationalise anything at all as long as it serves their greed.
    The mods can do what they want but every point made for this thing is "Could be a scam but I might make money tho".

    This is no different to Bitconnect or Dascoin or the "Guaranteed Returns!!!" trading bot threads. Were all of those totally fine too? Somebody made money off of some idiot so it's fine, yeah?
    I can't believe that Paddy and Johnny were constantly banging on with the notion that anybody could replicate a crypto, that this meant it was all worthless and still people made the effort to argue against them - yet here we have a non-crypto in a crypto forum where the only positive aspect is "I might make money and other people can go fúck themselves".

    It's foul.


  • Registered Users Posts: 37,373 ✭✭✭✭ Mellor


    grindle wrote: »
    What incorrect stuff have I posted?
    Analysising something that isn't a crypto, as a crypto, is pretty incorrect logic. I point that out above.
    We both agree it isn't a crypto, I was just detailing why it isn't one. Why they have ERC20 tokens set aside for some reason is a bit baffling but we both agree it's not a crypto. Great!
    and the people behind it also agree it's not a crypto. They explicitly state as much. So it's kind an odd thing to triumphantly expose.
    If that isn't making a case for it to be here then what is?
    I made that point AFTER you claimed we were defending its right to be here. So your previous was still incorrect. And, for clarity, asking what is the harm is a question, it's not stating that it has a right to be here. Simple stuff.
    Yay, if nobody puts money in nobody gets harmed - if somebody does put money in and those people get screwed then who gives a toss? What a wonderful philoophy.
    The people putting money will be venture capitalists, fully aware of the risks involved. Not people speculating on crypto. You can't buy or trade in Q.

    And I was pointing out that that it could be a scam because literally every venture capitial offering could be a scam. Possibility doesn't mean probability.
    At best it should go straight to the 'Investments & Markets' forum as we know it's not a crypto and I reckon the only reason it's gained traction here is because crypto naturally attracts 'Get Rich Quick No Matter The Cost' types.
    You must've posted it here specifically for some reason - care to divulge?
    As I said, it the mods want to move it they are free to. Your opinion doesn't matter in that regard. And, I'd have thought the reasons for posting it here were obvious. You really don't understand why.
    I hadn't realised this forum's low activity during a bear market constituted a green light for any old crap designed to siphon money from the gullible. The only reason I'm not reporting it is because I'm fascinated by people's greed and the ability to rationalise anything at all as long as it serves their greed.
    The mods can do what they want but every point made for this thing is "Could be a scam but I might make money tho".
    My all means report it. Free feel to include the BS claims like "Siphoning mony from people". We both know that's not happenign with no money changing hands

    If you are going to claim it could be a scam. At least offer an opinion why. as it stands, saying "it stinks" is just nonsense. Offer an opinion maybe you see an angle I don't and I'll change my mind.

    But as it stands, I'm investing $0 in this. And I can't see that changing.
    This is no different to Bitconnect or Dascoin or the "Guaranteed Returns!!!" trading bot threads. Were all of those totally fine too? Somebody made money off of some idiot so it's fine, yeah?
    I can't believe that Paddy and Johnny were constantly banging on with the notion that anybody could replicate a crypto, that this meant it was all worthless and still people made the effort to argue against them - yet here we have a non-crypto in a crypto forum where the only positive aspect is "I might make money and other people can go fúck themselves".

    So you started off you post banging on about it being "not crypto".
    But you end with the criticism that it's no different to worthless crypto. Solid logic


  • Closed Accounts Posts: 678 kevovek


    Mellor wrote: »
    Has anyone heard about Initiative Q.


    Full disclosure, the above it my join link. It's valid for a few days. I'll repost when its' dead. Or whoever signs up can replace it with theirs and so on.

    https://initiativeq.com

    I signed up via your link, say you need to confirm it! 😀


  • Registered Users Posts: 2,649 ✭✭✭ Whelo79


    So Grindle's only real issue here is that it is posted in the wrong sub forum? Why didn't you just say that in the first place and leave it at that?


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Mellor wrote: »
    Logic
    Pardon me, I should have realised that I shouldn't have any opinion on a non-crypto which has been spammed in the crypto forum.
    FWIW, analysing some asset that isn't a crypto as a crypto on a crypto forum is good use of logic.
    Bitconnect was a new-fangled pyramid scheme and it made sense to compare it to the old pyramid schemes. That's a good use of logic. This is a centralised shíttoken so comparing it to the crypto equivalent is also a good use of logic. Are you aware of what it means to use logic as a tool? You seem to think posting a non-crypto to a crypto forum is logical so logic may not be your strong point - should you be critiquing the logic of others?

    You're well aware of how intellectually dishonest you're being, yes? Or are you this far down the rabbithole of rationalísing drivel? The simple act of posting it here in this specific forum is you implying it has the right to be here. It's kind of how forums and especially sub-forums work, otherwise you'd be posting it to every other random forum. "Simple stuff"

    The need to expose it is due to the fact that it's being spammed on a crypto forum and some people might be misled into thinking it's a crypto. I've seen a few posts calling it the next Bitcoin or saying "Hey golly guys, have you missed the boat on Bitcoin? Well don't miss this in 6 easy steps!"
    It's turning fairly normal people into some equivalent of crypto-pump zealots, reddit, Twitter and anything else with Initiative Q mentioned has become a spam magnet.

    Anyway, it's obviously very foolish on my part to not understand why this non-crypto has been posted here in a crypto sub-forum - could you be more specific as to why you posted it here? You've stated more than a few times that you know it's not a crypto and inferred that I'm foolish for even noting it's not a crypto - yet you've posted it here, in a crypto forum. Why? The onus is on you to specify why it belongs here, how it will work and why it might succeed, that's logic. I've explained why it doesn't belong here-> logic.

    In order for it to be worth any money at all somebody has to agree to receive it for a service, a good or cash. Initiative Q have their marketing technique, everybody likes "free" - but take a second to imagine that you've received your purse filled with Q. Now imagine turning it into either cash, goods or services. This is worse than Tether and people here are defending it, my god. It's a hugely centralised premined shíttoken with 20% effectively being kept for the creators which offers no concrete benefit over fiat, minimal notional benefits and it has no utility unless some ill-advised mong says they'll accept it for their products or services. That person in turn will have to find a way to spend the shíttoken. Why would anybody want it? Because it's notionally tethered to USD for no reason other than the company's monetary committee says so...oh right, I'll sell everything I have for that crap then.

    Let's say Facebook wanted to beat Initiative Q at their own game & instead of having credit card integration or creating some form of cryptocurrency they just airdrop trillions of premined shíttokens across all accounts - with a 20% cut - so everybody is now "in". Who on earth is going to say "I need to sell my car. I'll take $12k for it...or 12k FaceBucks - I'm really big into centralised untrustworthy shíttoken gift certs!"
    Does that sound utterly retarded? It's what you're expecting with Initiative Q
    Whelo79 wrote: »
    So Grindle's only real issue here is that it is posted in the wrong sub forum? Why didn't you just say that in the first place and leave it at that?

    This whole thing is extremely bizarre and well pulled-off, everybody losing the run of themselves signing up for something that's worse than Tether. The hoopla of a pyramid scheme without repercussions because nobody loses money until somebody validates their notional value, the extreme defensiveness of the scheme's supporters who sound exactly like DasCoin and Bitconnect shills at the heights of those things. What a strange mania. People stepping over themselves to give data away and become shills. Hilarious.
    Why should something like this be left alone? It's got none of the positives of crypto & replicates the worst negatives of the crypto-space and of fiat yet it's spammed here. How it could build a fanbase here is really blowing my mind. Literally anybody with a marketing budget could have done this, anybody can make up terrible ideas and tokenise it. This one is disingenuous and serves little purpose, the only people who want to use it are the people who'll own it and who think some poor idiot will accept them for goods. Jesus, at least some cryptos try to have a utility as well as being massively bouyed by wishful thinking/foolish optimism. This non-crypto doesn't even attempt to have a utility, it's just a bloody gold rush for something nobody should accept for anything. If anybody would accept it it's basically creating a gift voucher economy that can be reproduced endlessly ("Woo, One4allcoin guys! Let's market the crap out of it!"), in much the same way Paddy or Johnny erroneously thought you could just replicate a crypto and "BOOM", does the same thing ergo they're all the same.

    Why does this particular money-sponge work and why should people trust it?

    "I don't care I only want the money" isn't a good response. Just think about how outlandishly idiotic this is.


  • Moderators, Technology & Internet Moderators Posts: 10,340 Mod ✭✭✭✭ LoLth


    Just looking at this now (didnt we have this before?) and it is not a crypto currency. It is a group that are ready for an alternative coin or online payment method. that could be a 3v card or best ROFLcopter gifs or whatever.

    Locking thread as off topic.

    also, Mellor, very first post in this community (cryptocurrency) and its a referral.


This discussion has been closed.
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