First I'll share my thoughts on Initiative Q
My opinion on this project is that it does not appear to be a cryptocurrency. It does not seem to have a fixed $1 price either so it's not a stable coin. The tax implications if the price fluctuates is also unknown as well. As I see it this project appears to be a competitor for Ripple not Bitcoin. I do not have confidence that they offer any technical or social advantages over Ripple and Ripple (and XRP) has a head start. Their marketing is similar to the marketing XRP did where they are giving free tokens of imaginary currency which they promise will have value some day. They target the price of $1 but in my opinion this price is extremely optimistic and we will be lucky to see 1 cent.
Notes: There will be 2 trillion Q so as a stock it will have to rise quite a bit. And it's not backed by 2 trillion dollars so those dollars have to come from somewhere else. You do the math.
That being said it looks like they are willing to pay for microtasks so it's low risk with high potential for reward. That is the reason for the following message below:
The following is a referral post promoted by Initiative Q
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.
Here is my invite link: https://initiativeq.com/invite/HzeUE7O2m
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.
If you like posts like these let me know
Feel free to leave comments. If you like posts such as these let me know and if you don't then also let me know.
Just to let you know that i’ve registered through the above link.
Thanks for this.
Would be grateful if you could verify this
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Yeah I like posts like this, i can see your obvious stand on the project and why its really left to the readers to make their choice.
Ive registered a while back without even knowing about the project this way, thanks for the explanation...
I like posts like this..resteemed
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I have registered through your link, please confirm
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I registered... not sure if I'm too late.
I think your post is useful because I highly appreciate your opinion. I don't use it as investment advice but it's part of my decision making process.
Thank you.
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I'm not particularly fond of these kinds of referral posts, but at least you offered a small comment. Strange that you followed their script exactly for the referral message I have to say.
It's unclear exactly what they are offering or how it will have any value. As you say it's not backed by anything and they are explicitly against the speculative hoarding and planned (read: transparent and known) economic policies of crypto. All that's left is the use of "financial instruments" to control the supply, coupled with low fees. There is also some hand waving about discounts on purchases.
At the end of the day they are attempting to exploit one of the very things they criticize, ICO FOMO.
One thing is for sure: they are amassing a massive strongly linked list of people who know each other, at least having social media contact with many much more personal, together with their names and email addresses. They mock paranoid anti state crypto fanatics but that position is weaker each time a major social media platform is hacked or brought into further disrepute, as happens almost weekly.
The tokens you have are nothing but a promise in exchange for some personally identifying information.
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Steem can learn greatly from the kind of marketing they are doing though. It is effective.
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I can't argue with it's effectiveness, but I would question the ethics.
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In business that would be "reputation management". If it's not effecting the bottom line then in business it's allowed. Personal is similar yet different because the costs are ostracism rather than mere loss of customers/investors/profit.
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Reputation management is something different, we're talking about how something works and what you have handed over to a company. So far you have given them some of your personal details, advertised them on your somewhat influential social media account (at least on Steem, probably on others right?) and recruited more members, in exchange for the promise of some tokens. I am not trying to suggest that you will not be able to make use of the token or that they will be worthless, I am just saying that right now you cannot use them and they are worthless. Thus it's a promise, which you clearly trust, or you do not value the information you handed over, your associated credibility impact by advertising them or the information of those you've recruited.
How it works is that you are modelled on their system as a data point in an ever growing graph of referral identities. It's moderately likely that they'll only use this for their own marketing, but to be clear they now own this data and can dispose of it as they wish. That is a "how it works" thing which can be objectively questioned, not managed by PR. It can be sure tried to be spun by PR people as no big deal, but there are facts to see and talk about.
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i’ve registered through the above link. i dont know if i need to send you my email address or something else
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