What do I think of this new thing called Bitclout?
First, let’s talk about something I’ve been preaching for the longest time: Invest in people, and if you do this right, everything else in your business should follow.
It’s the people.
What it’s like to be on Bitclout… here is my take!
I’ve been on it since March and in terms of value? My Creator Coin currently has a value of $200 USD (fluctuates).
My famous WTF…
WTF is Bitclout!?
I’ve always been curious and open to the newest hypes, and the latest I’ve tried in Bitclout. It’s a cool take on both Bitcoin and social media. Think Twitter meets Bitcoin, with each member placing a value on people. It’s exactly what it sounds like, and more. A personal value is put on someone, and that value is in real money, usually in U.S. dollars. The more valuable a person is, the higher it ranks in terms of clout: thus, Bitclout.
At this point, Bitclout refers to both the open-source software and the in-house currency used in the app. The other interesting thing about this is how popular influencers get into the rankings, even if they haven’t signed up for Creator Coins yet. And so far, some celebs have been curious, such as Snoop Dogg, Joe Rogan and so is Kim Kardashian, and who could forget? Elon Musk, who currently ranks the highest at $80,000 USD per coin.
So who actually created this thing called Bitclout!?
Everyone’s question RN.
The site was founded by an anonymous handle Diamondhands, and the idea is the more popular someone is the higher your value.
To buy someone’s Coin, you simply visit their Bitclout profile and click on “Buy,” which will show you how much you need to pay, depending on their popularity. At the moment, there are around 15,000 Twitter influencers who are already on the site. Interesting claims may contact Bitclout and confirm their BitClout public key.
It’s a lot like the stock market…
If you think that this sounds familiar, it probably does. It banks on the concept of investing, stock exchange style. Except for this one, you get to invest in the reputation of one person instead of a company.
So how does it work?
Bitclout has a clear example: In case Elon Musk is successful in sending the first person on Mars through his SpaceX venture, his Bitclout Coin value will definitely rise. Should he do something bad, like, say something racist, Musk’s creator coin value is going to drop? And so, we base our investments on perceived value, except this time, it’s a person.
Where is Bitclout heading…?
If social media history is to be believed, Bitclout can either make or break the internet. There’s a lot of proof of this potential. Twitter and other social media such as LinkedIn and Facebook have given us the concept of virality, which has led to millions of users investing in themselves for several reasons: to be popular, to be relevant, to be viral.
When you combine the idea of virality with earning potential, it spells a recipe for a successful venture.
At this point, though, Bitclout is going to face a lot of hurdles. There’s some news of law firms reaching out to Bitclout to have their client’s names and likeness removed from the site since it does post profiles even without the user’s consent.
This part is tricky: It’s a site that could attract people because of the idea of earnings from value (the way social media monetizes streams and views). However, there’s some privacy issue that may need ironing out.
As I say… digital currency is taking over.
On that thought, the people behind Bitclout can easily take down the site and take off with millions without a peep. Hence the no-name creator.
My advice is: Invest what you can pay 5 times.
Paper Money is going ~ Elon Musk
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