Initiative Q, or Q, is a dubious project that has recently hit the social media. You have probably been invited by your friends to register for this project in recent days. But what is the purpose of this project? Is it going to make everyone rich? Stay tuned to Digital Currency to check out this plan.
What is Initiative Q?
Initiative Q is a project that its executives claim will soon revolutionize payment technology, replacing traditional systems and becoming a common currency around the world.
If you have been offered enrollment in the Initiative Q scheme, you are probably familiar with the following sentences:
In the early days of bitcoin, the price of this digital currency was only a few cents; But now every bitcoin is worth thousands of dollars. Have you survived this huge price explosion? Do not worry! Q is a new opportunity for all those who have missed this great opportunity.
These are just some of the goal setting shareware that you can use on social media and social media these days. Exactly one of the tricks of digital currency scams is that they first point to Bitcoin and its revolution in order to make it easier for the user to imagine a profit of several thousand percent.
Advertisers of the project claim that the project was developed by the People team and is creating a new global payment system. According to the plan, significant amounts of the system’s proprietary digital currency, called Q, will be distributed to primary users in order to expand the system’s acceptance worldwide. The plan claims that all you need to do to sign in to the system is be invited by a friend and enter your name and email to register.
All the system will ask you for is a set of personal information to register, then you should invite several people to join the network. They also have to invite a few more people and thus a pyramid structure of newcomers is formed. After each person enters the network, a number of Q digital currencies are reserved for each person to receive in the uncertain future.
A counter on the official website indicates that the sooner you log in, the more Q you will receive. This encourages the user to join the system quickly.
Why will this project not get anywhere?
Now that you are familiar with Plan Q, we are going to explain why this project is doomed to failure at best, even if it is not a scam.
First of all, let’s review the claims of this plan.
Q has nothing to do with People!
Q Advertisers say that PayPal, one of the world’s largest payment companies, is behind the project. This claim is completely false.
The Q website mentions Saar Wilf as the project’s founder, but he now has nothing to do with People and only bought his company in 2008, and has been a People employee for some time. So the claim that Q is said to have been started by the founders of People is a lie..
by investigation LinkedIn Wilf page We found out that he has started many different projects and none of them have been successful. Interestingly, although Project Q introduces itself as a future payment system, Star Wilf is now focusing on another project called Bzigo.
The only goal: to attract more users
In the Initiative Q project, no goal is pursued other than trying to attract an audience. The project website claims that today’s payment systems are “outdated and inefficient” and need to be replaced. But it is not mentioned what is meant by old and inefficient. We know that tools like Visa and MasterCard as centralized payment methods today and digital currencies like Bitcoin as decentralized payment tools are doing their job well and their developers are improving these systems. It is not at all clear what the website means by inefficiency and what Q is trying to solve. Is this a Blockchaink project? Not specified. Has a code been published? No. Is this project focused? it is not clear. By what economic model are all these people supposed to become rich? Only God knows!
As much as there is no document on the website of this project, we are witnessing efforts to attract more audience.
Set a price for something that is still just a number!
Everyone knows that the price in the market is determined by the principle of supply and demand, and no guaranteed price can be set for an asset. However, similar to other scam projects, the Q website claims that the price of each unit of this digital currency will be $ 1. This means that one can earn $ 1,500 in just a few minutes. Do you think such a thing could be logically correct?
How can one promise to be a dollar for something that is currently only a number that is added to the user account and it is not clear how many will be offered?
Generalization and simple answers to important questions in this project is another thing that reduces its credibility. In fact, instead of targeting technical specifications, applicability, scalability, and other important project specifications, the development team has targeted only the price of the currency.
We do not pay anything!
When Initiative Q advertisers are told that the project is suspicious, they say, citing the proverb, “Free stone, free sparrow,” they will not pay for the project and will not lose if it does not work.
Previously, other similar projects have been proposed in the field of digital currencies, some of which, such as Pie Network, have been introduced and reviewed in digital currency. After reviewing these projects, some users have commented that this project does not receive money from us, so it is not possible to be a scam. In fact, it is free to try and shoot in the dark.
Although there is no explicit charge for operating the system, users pay a hidden fee: Information and time.
Data brings power and wealth
Data and information are an important part of today’s world. The other great economic giants of the world are no longer industries; Rather, there are companies that have a huge amount of information. The value of data and information in today’s world is billions of dollars.
Providing a name and email address to sign up for Q may not seem like a big deal to you, but there are millions of email addresses available to Q developers, a source of power and wealth that we do not know how to use.
The main concern is the multitude of e-mail addresses provided to Team Q. Millions of people who want to get rich overnight have given the team their email address. This list of emails is of great value to fraudsters. Fraudsters love such lists. What will happen if Team Q decides to sell this large database? What if this information is hacked? Did Team Q observe security in storing this information?
Apart from this information, you spend your time working in this system, which in the end results in nothing but frustration.
The concept of money
Not every phenomenon can turn into money. Money has a special nature and has characteristics such as scarcity and acceptability. For example, gold and bitcoin are money; Because they are scarce and people have accepted them as a tool to store value and there is application for them.
But Q does not have any of the characteristics that characterize money. This claimed currency is distributed indefinitely among users. If you sign up for this plan with multiple emails, you can save tens of thousands of Q’s for yourself. If the Q team’s ridiculous claim of one dollar price were to be realized, its market value would reach trillions of dollars, which is more than the market value of the dollar and gold!
Clearly, Team Q has taken its audience’s perception of the concept of money very lightly and has somewhat ridiculed users.
If you want to allow such people to easily ridicule your level of awareness and literacy about the nature of money, apply immediately to register for this project!
Unfortunately, as expected, Iranian users are at the forefront of such projects that exploit the ignorance of the audience! According to Alexa site statistics, More than 57% of the visitors of the official website of this project are Iranians.
The Initiative Q project is a dubious and unreliable project. The claimed local currency of this scheme is called Q, the developers of which claim that the price of this currency will soon reach one dollar without any intellectual or logical support.
The project has no scientific foundation and is merely a pyramid scheme to attract more people, probably with the goal of using the information of millions of users for unknown purposes.
There is no rationale for pricing a project without scientific backing, and all claims that the project is related to People are false. Even if we do not call this project a “scammer”, it is doomed to failure at best.