What Is Initiative Q: New Crypto Payment Network Or Faulty Q Token Spam?

What Is Initiative Q: New Crypto Payment Network Or Faulty Q Token Spam?

Have you ever heard of the Initiative Q? In case you haven’t, you should know that it was described by David Gerard, a crypto journalist from the United Kingdom, as “a non-crypto private currency, marketed by a pyramid scheme”. Well, that pretty much answers the question, right? Nope, you should not buy, but why? That is what we will explain.

This so-called Initiative Q is a scam that uses social media for promoting a “new payment network” that will give you a lot of money. An obvious hint for a scam. This week, David Gerard, which is becoming a notorious hater of this scam, has talked about it again as the company is collecting email addresses so it can use people’s friends to buy more tokens.

Initiative Q is actually a quite spammy scam. It’s everywhere. In fact, Gerard even mentions that his first article was able to get 30,000 views in a couple of days, which is definitely a lot for crypto-related articles.

What Is Initiative Q?

On his blog post, Gerard affirms that Initiative Q has basically three states: first, you get a list of prospects to get money from them; then, you start a payment network, run a private currency and then you run a private network.

The main issue with the idea is that it looks a lot like a pyramid scheme and it is simply looking for venture capitalists who are foolish enough to give money to these scammers.

Initiative Q kind of states that it is a cryptocurrency but it actually does not even look like it is. This is almost not even a product, just some weird scam that has been increasingly popular in some circles.

Our verdict? Run away from this scam and do not give your money either your email address to these scammers.

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