No doubt, over the past few days or weeks, you’ve been invited to register for “free, future money”, in a new initiative by “ex-PayPal guys”, called Initiative Q.
In this, early adopters are rewarded with some sort of fictitious, non-cryptocurrency tokens, purporting to be eventually worth in the range of $100,000, if/when Initiative Q fulfills its lofty objectives.
Their pyramid scheme-style marketing encourages referrals, boosting the supposed number of tokens one receives based on invites to the Q network.
Initiative Q’s mission? To change the world? To bring prosperity to all?
No. Simply to create an alternative, “lower-fee” money system, transferring the power of money out of the hands of one centralized establishment, and into the hands of another, unknown entity.
Marketed through desperation-inducing taglines like, “Your chance to invest in the new Bitcoin”, using time-limited scarcity to entice rapid registrations, while denigrating and disregarding the philosophical concepts behind blockchain — the cryptographic technology upon which Bitcoin, and most other cryptocurrencies, are built.
The only surprise in Initiative Q is how incredibly gullible society has become, to sign up en masse, to a system with no vision, no plan, no legitimate privacy controls, not backed by decentralized technologies that have been designed to remove the need for flawed and corrupted intermediaries like governments and banks, while protecting people’s privacy and empowering the individual.
Instead, people ride out their desperate hope for riches on yet another promise of a better future, conceived by further more rich men, who stand to profit individually well more than anybody else, should Initiative Q approach even a percent of its lofty ambitions.
There is no denying that Initiative Q touches a raw nerve among society, and they deserve credit for uniquely rallying people against the status quo — despite, ultimately, offering nothing tangibly new to the status quo.
However, all of people’s fairy tale intentions of riches for nothing, assumes the world will continue on the path where money, as we know it, is still worth what it is a few years from now. This glosses…