The next big thing? Featured

The next big thing? Image: SlideShare

There’s a saying, If it seems too good to be true, it probably is.
There are, however, exceptions to this rule. Anyone who bought shares of stock in Microsoft, Apple, or even Disney when shares were offered to the public in their early days quite literally became millionaires overnight. All with the purchase of a few thousand dollars, or even hundreds, worth of stock at the opening gate.
Lately, there has been much brouhaha over bitcoin, which is billed as a cryptocurrency. Another word for it would be ecommerce currency. Up to now, there are a good many non-believers in bitcoin, which some consider a scam.
At first glance, bitcoin does seem to good to be true. In a matter of a few years – much less than a full decade – its value rose from a few cents to seven or eight thousand dollars per coin.
The biggest concern is that bitcoin may have grown too fast, too soon. As such, it could be a bubble that will burst bigtime, and this will mean huge losses for those who have invested their life savings on the online currency.
Now comes a new company called bitqyck.
At first blush, I thought bitqyck was nothing more than a clone of bitcoin. With the overwhelming success of bitcoin, it was only a matter of time when competitors would come in to get a slice of the evergrowing pie.
A person whom I have the highest respect for was the one who told me about bitqyck. “Just check it out,” he said, and that I did a few days ago.
A FilAm executive had up and quit his job and tied his fortunes with bitqyck, my California-based source told me. That executive, Ron Aquino, was heading to the Philippines to launch bitqyck operations here.
All I had to do was attend a two-hour briefing to learn the essentials of bitqyck, which I did over the weekend.
If I was thinking that here was another bitcoin wannabe, my partner had another take. She told me that bitqyck was just another multi-level marketing company, or MLM.
Now MLMs can be legit, or they can be scams. It all depends on the products or services being presented to the public. Products like cosmetics (Avon, etc), jewellery, apparel, and cookware are sold via MLM companies. Some have existed for decades and are still going strong.
Others, unfortunately, are little more than fly-by-night operations. Also known as Ponzi schemes, these rackets have been around for more than a century. It was named after an immigrant who started the get-rich-quick scheme in the East Coast. Such schemes depends on the greed of some people. They know there’s something fishy about the scheme, but they take part just the same.
Anyway, my partner and I attended the briefing which seemed interesting enough.
It was when we sat down with Ron Aquino that everything became clearer.
I’ve been a business journalist for more than three decades now, and I have seen flsh-in-the-pan companies entice men and women to join in hopes of finding a nice business to place their time, money and effort in. The interview with Ron made me think hard about the company he is setting up in Manila.
Bitqyck is based in Texas and thus far, I like what I see.
Yes, there is another saying that may be quite fitting for bitqyck. There is nothing more powerful than an idea whose time has come. No matter how many times I hear it or read it, the truth of the saying always rings true.
Some decades ago, computers were an idea whose time had come. More recently, the internet is a bright idea whose time has come. Ditto with Facebook.
I’ve witnessed the shift from brick and mortar stores to online shopping, which just a decade ago seemed too farfetched to succeed. See, I had always believed that no one would buy clothes or shoes or appliances without first touching what he or she wanted to buy.
How wrong I was.
As far as I’ve picked up from that talk with Ron, bitqyck has all the makings of not just a mere company, but a way of life whose time may be now.
Their website and the presentation I attended says bitqyck is “the convergence of e-commerce, the blockchain, US-based bitqycryptocurrency, and direct-to-consumer marketing.”
Sounds impressive, doesn’t it?
Incidentally, I am not endorsing bitqyck for the truly odd reason that there is really nothing to endorse. You do not buy the cryptocurrency like bitcoin. You do not shell out any money to be part of bitqyck, in fact.
I will write more about bitqyck in a succeeding column. Like I implied, I am not easily impressed by any new company or concept that enters the market. But my curiosity has been sufficiently piqued that I plan to spend some more time for what may possibly be the next big thing.

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