Initiative Q Won’t Solve Bitcoin’s Problem

Initiative Q won’t solve Bitcoin’s problem of mass adoption because it isn’t a digital currency. It’s just a pipe dream going the OneCoin way.

Bitcoin and other major digital “currencies” begin on the supply side of the market. And they have big promise: to make market transactions fast, efficient, inexpensive, and free from the control of central bankers and big banks. But they have a big problem, too: how to gain broad acceptance by a critical mass of users.

Thus far, none of the major digital currencies have solved this problem. They haven’t gained acceptance beyond the “technology enthusiasts,” a small group in the “Rogers Curve” — a model marketers use to explain how new products reach the masses.

Initiative Q claims to have a solution to this problem, by beginning with the demand side of the market. It is attempting to create a critical mass of users first, and then come up with the digital currency to serve it.

Simply put, there’s no…