The Birth Of Initiative Q ~ A Timely Reminder Why We Desperately Need Cryptocurrencies

This past week I have seen a few of my facebook friends make a post about 'Initiative Q'. For those who are hearing about it for the first time, Initiative Q is an attempt by some of the ex-PayPal guys to create a new payment system with its own currency.

One of my good mates posted about Initiative Q and had this to say about the currency:

I hate being that guy who comments on other peoples post just to critique. But I couldn't help myself I had to throw my 2 cents in. Here is what I told him:

"There is a cost, like many things today YOU are the product. Its a mass email farming centre. Cryptocurrencies are everything this is and more. What we need is open, decentralised, borderless, censorship resistant, transparent, secure, deflationary money that's owned by the people for the people. The sad thing is this currency already exists. Its called Bitcoin. Where the only barrier to entry is education. There are only two types of people in this world, those that own bitcoin and those that don't understand it yet. Also, volatility is pegged to market capitalisation. The bigger the ship the less it moves in the waves. And why worry about bitcoin's volatility, if its the only one that if you draw a line between the points its going steeply up? Hope I didn't sound rude was just trying to express a few important points :)"

If you feel the same way as me and think this is an important message by all mean feel free to take it, edit it, share it, do whatever it is you want with this post. It's by no means comprehensive but rather a concise little paragraph that I think covers some of the main reasons why we all NEED cryptocurrencies.