Month: November 2018

Every new “payment method” or “alternative currency” has to pass this checklist of requirements

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  1. It must be backed by serious investors who put their lives and savings on the line
  2. It must be proven to work by common people who do not need to learn new skills and steps
  3. It must be proven to store value, something recognized by people with means (landowners, internet service providers, governments)
  4. It must pass all anti-money laundering restrictions
  5. It must provide both privacy and convenience better than current methods
  6. It must either be popular among illegal activities, or have a proven method to deter them. It cannot be a mix of both.
  7. It must attract a wide user base free of political barriers and bias.

Initiative Q is a scam, ponzi scheme data mining operation similar to all MLM invite only jokes. it’s not cryptocurrency or blockchain, it’s a hustle with no clothes.

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  1. It’s invite only ,the opposite of what serious businesses do
  2. It’s made ZERO claims on how it would work, why it would be better
  3. Good news, they ask for no money, which means they value data more than all else. Remember Revolution, Greenzap and Moviepass? At the end, they all have a few things in common, there’s no new solution to money, and data isn’t priceless.
  4. There’s no “ex PayPal guys” it’s one guy who made a company sold to PayPal
  5. There’s no serious investors backing it, that should be all you need to know
  6. They’re renewing the old trick of referral/invite only, because this millennial generation has forgotten how it works (and why should they remember?)
  7. For person to person transactions, Venmo is the current king, but that can change, there’s no hint of how Q will be better than anything existing.
  8. “Faster and easier” is everybody’s dream, but there’s no proven model. So yeah, I’ll say it, SCAM.

    https://www.youtube.com/watch?v=FxaolBpjUiE