Welcome to another Thursday update! Last Friday I mentioned this new social media site called BitClout. I also promised a full article would be coming your way about BitClout. Well, the waiting is over! Here it is!
Are you ready to become a pioneer of web 3.0?
Welcome to BitClout!
The hype of BitClout has started to spread like a wildfire. Ok, maybe not a wildfire, but definitely like a really solid bonfire.
It has reached back to Medium too. I know that Tim Denning and Tom Kuegler (two top writers on Medium with over 50K followers each) are on there as well as many others from Medium. One of the coolest things about BitClout is I’ve actually been able to have conversations with Tom, something I’ve never been able to do on Medium. It’s hard to get attention in a crowd of tens of thousands. But right now, BitClout is so young no one has more than a couple thousand followers.
What is BitClout and why is it so cool, though?
Well, if I told you it is the first decentralized social platform, I’d be lying. There are others. But this is the first one that I believe is offering something unique and special. Especially for creators.
There are probably tons of resources and articles already written on the ins and outs of BitClout, so I won’t go crazy here, but I’ll give you a quick rundown.
Base BitClout looks and feels similar to Twitter, but like a cool web 3.0 version of Twitter
BitClout, like all web 3.0 technologies, have a natural currency powering their ecosystem. Anything working on the Ethereum network uses $ETH. For BitClout the currency is called $CLOUT.
Here’s where it gets cool, though. Every single user has a creator coin. For instance, mine is $davidjwriter. You can trade $CLOUT for anyone’s creator coin.
The price of an individual creator’s coin goes up when more people buy it, and goes down when people sell. The official documentation gives the exact formula, but that’s basically how it works.
That’s the basic idea, but why is that cool?
There are several reasons.
Just like you can invest in a company, you can now invest in a creator! Never before could you do this. What if Stephen King were on this platform before Carrie came out and you invested in him! That’s the kind of thing we are capable of now.
The platform is decentralized and open. This basically means that the platform is run by the people using the platform, rather than a company.
Think back to when Facebook first started. Messenger did not exist. The Facebook marketplace did not exist. Instagram did not exist. And so much more within the Facebook ecosystem. What did exist? Flairs and chat lol. It took Facebook years to develop the cool features we use today.
With BitClout anyone can expand on the platform. If someone has an idea of how BitClout can be used, then they can go out and just create it. Imagine if Facebook had been like that. A random person from Oklahoma could have had the idea for Messenger and created it years ago! That’s wild!
It also means that no company like Facebook can decide what it wants you to see; they can’t block random political things either.
Because of these two things, BitClout is getting newer and newer every day. I’m sure it will eventually settle down, but for now, it’s like pioneering a new frontier. Just yesterday I found a new platform similar to Medium coming out powered by BitClout called CloutPub. They also have one like zoom. Not to mention platforms to allow cross-posting to Twitter, Instagram, etc. It’s wild! They also just allowed NFT’s on the platform and you can mint any of your posts.
In fact, I just minted my first short-story fiction NFT, but more on that soon!
The biggest thing I’ve learned from using BitClout is that: people are innovative.
It’s inspiring to see the mass amounts of innovation and imagination. There are no rules on how to use the platform. Some people are selling NFT’s, but making it so people holding their creator coin get priority. BitClout also has a feature where if you sell an NFT, your creator coin holders get a cut!
The list goes on and on. I’m still wrapping my mind around it all.
All this to say, if you ever thought you missed the early pioneers exploring America or the early pioneers of the internet, then this is your chance. You can be a pioneer in web 3.0! BitClout is a great way to do it!
Of course, it’s all super new so maybe it will fizzle out in a year. Who knows. I sure hope not, though!
If you do join, make sure to follow me: davidjwriter ;)