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DennisNedry

Initiative Q

By DennisNedry, in General Chat

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TheUltimateWinner

TheUltimateWinner

Posted
Posted

Saw this on moneysavingexpert the other day...

 

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

 

Martin Lewis' view on whether you should sign up

MoneySavingExpert.com founder Martin Lewis said: "Wouldn't it be wonderful if Initiative Q delivered and people make a fortune just by signing up for free? Don't hold your breath though, the truth is fortunes for early adopters are very unlikely to happen, in fact, it is unlikely anyone signing up will make any money.

"The claims that it will have $20 trillion in transactions a year seem more far-fetched than me winning the next Rear of the Year contest (though neither are impossible).

"It's also worth noting that it markets urgency to get people to sign up, with the amount of Qs you can gain dropping on the website. This and other marketing tricks effectively gamify the sign-up, with the refer-a-friend system playing on people's fears of missing out – a little gimmicky for something purporting to be a potential major financial player.

"My assessment isn't based on a great, detailed understanding of the underlying economic mechanics behind the system – after all, the Initiative Q website seems to spend more time on what's wrong with other systems such as Bitcoin than what's right with it. Just the simple rational that most things set up like this don't hit the critical mass of people needed to make it financially viable, and if something sounds too good to be true, it usually is.

"Yet that isn't necessarily a reason for not bothering. After all, the 'should I give someone my name and email address' bar is one set very low. So if you want to take a punt, do it. Yet if you are in future asked for more details, such as address or date of birth, then the bar has risen, so don't just think 'they've already got my email, so I'll do it'. And if you are ever asked to risk money on it, then it becomes a high jump.

"In fact, why not sign up with a secondary email address, rather than your main one? That way you will first know anything has come from Initiative Q and if it did end up being a spam generator – and the people interested in this would be lucrative for marketers – it isn't sending it to your main email."

Mark_w

Mark_w

Posted
Posted
26 minutes ago, Carl the Llama said:

Is it a pyramid scheme?

The first thing to say would be that this is not pyramid selling.

  • Haha 1
Izzy

Izzy

Posted
Posted

"You don't get owt for nowt" as my old Grandad used to say.

 

Just looks like a clever way of building a mahoosive e-mail database to me.

 

*Feel free to re-quote this when you're all multimillionaires though :D

 

VLC86

VLC86

Posted
Posted
1 hour ago, lifted*fox said:

I shit you not, I've been reading that website for nearly 10 minutes and I have no idea what it is or what it does

Basically just give me £20.

VLC86

VLC86

Posted
Posted
1 hour ago, Izzy Muzzett said:

"You don't get owt for nowt" as my old Grandad used to say.

 

Just looks like a clever way of building a mahoosive e-mail database to me.

 

*Feel free to re-quote this when you're all multimillionaires though :D

 

Has Rob quoted this yet?

jammie82uk

jammie82uk

Posted
Posted

Never heard of this before but after having a quick look at the website a few things jump out at me 

 

So main page says under the $ figure 

 

 (10%) is reserved after registration, 40% after inviting 5 friends and the rest for future tasks.

 

was interested in what the future tasks would be so I went to the FAQ’s 

 

Why am I required to complete tasks to reserve my full Q reward?

 

Initiative Q’s unique rewards model is what allows it to overcome the adoption barrier that has impeded previous payment technologies. It encourages fast adoption of advanced payment technologies, while others struggle to attract new users.

Initiative Q will be giving free currency to incentivize actions that help the system grow. That includes tasks such as: registration and verification of friends, installing the Q application, adding information, making purchases, etc. These tasks are in everyone’s interests, as they will help Initiative Q grow, and reach the target of releasing all Qs to members at a value of around one USD per Q.

 

So it appears they will be asking for more information and to make purchases before releasing any “Qs” at all 

TiffToff88

TiffToff88

Posted
Posted
1 hour ago, Finnaldo said:

Can't believe we've had a pyramid scheme up on Foxestalk for 16 hours ffs lol

We've already established that its not one of those shady pyramid schemes, its clearly a Trapezoid!

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