So you sign up for Bitclout, the honeymoon glow of excitement starts to dim— and you realize there is a whole community of creators and investors out there; that you’re NOT a part of… What do you do? Call the Cryptonauts! Or to be more specific— DM them.
Together, this group of talented creators and innovators have an impressive collection of skills — from CEOs and Entrepreneurs, to Wellness Influencer, Venture Capitalists, and Celebrity Chef. This deep well of knowledge and experienced has allowed Cryptonauts to achieve unprecedented heights, virtually overnight.
We were lucky enough to have the chance to ask @renatavc to share some insights into the initiative, and the more we learned— the more excited we got about everything Cryptonauts!!
The group met on Bitclout, and discovered each other— as some of the most active creators, who identify as female, on the platform. The group got together to discuss ways to amplify each other, and all female creators— the rest as they say, is history.
“It doesn’t matter what the distance between people is. Even over chat you can build a bond, so after a few hours of chatting a bond was built and we created Cryptonauts.
We’ll be doing many different things, but the first on the menu is a weekly announcement of a new female creator who gains the most engagement on BitClout.
What’s the one “un-ignorable and problematic” issue with Bitclout? You can’t take out your money. Even if you are a true believer, and you’ve gone all in with the platform— this question has probably crossed your mind: how will I ever get my money out? If you’ve tried onboarding a friend— it’s definitely come up.
The fact that there isn’t a viable way to offload money currently isn’t some hidden dark secret waiting to be exposed (although there are a lot of entertaining videos on YouTube professing to do just that!). As most tech, crypto investors, or more recently— NBA top-shot traders will tell you: this is totally normal! This is “normal” because it’s still SUCH early days—the platform has literally been around for a couple weeks, and new features and user interfaces are still being developed.
Most fans, and critics alike also view Bitclout as more of a centralized commodity that can be traded— whether or not that happens ON the platform itself is almost irrelevant at this point. First there are some fundamental questions that need to be asked, and answered through actual use case scenarios (which are happening at accelerated rates!!).
Phase one— will people like the idea enough to invest real time and money into it?
Yes, currently there is roughly 200m USD locked into the platform, and there are over 150k creators registered.
Phase two— does the platform serve value, in an innovative and novel enough way that it truly becomes preferred over other platforms?
Depending on who you ask, another yes! Fans, creators, and investors alike seem to be flocking to the platform in droves— jumping at the opportunity to invest in, and interact with each other.
Phase three— people need to take their money out!
Thanks to @sigil, @aryanm and their team at @bitswap— We’re in phase three!!! If you haven’t heard— @bitswap is the first, and most trusted person to person (P2P) exchange that allows users to securely offload their Bitclout for cold hard cash.
Using Ethereum as the vehicle of preference— users can create listings, and exchange the crypto currencies securely, with all funds held in escrow; and the transactions verified by the trusted third party: @bitswap.
We were lucky enough to catch up with @sigil, co-founder of Bitswap, and he was kind enough to share some insight into his journey so far— and most importantly, where he sees things headed.
Our first question was– How’d you come up with the idea, and what gave you the confidence to think you could actually pull it off?
Sigil explained that this isn’t his first foray in online trading, and has been running his own server to facilitate trades for some time.
“Although there is general trust within the current ecosystem— there is also the potential for malicious intent, or human error. So the natural evolution will be code, that is verifiable, trusted, and instantaneous. With Bitclout, and with Bitswap, we’re building towards that future.”
Since they weren’t able to interface with the API, the team had to figure out a way on their own. This lead to rethinking the entire transaction process from the ground up, which lead them to perfecting their lean (and most importantly proven successful) company, that you’re able to sign up for today.
When asked about where his team plans to take things in the future, he masterfully and charismatically answered without revealing anything too secret— but did promise of a “new and exciting product, that everyone can use”.
Sigil was able to reveal that “Version One is much much better than the beta, and the beta has already facilitated transactions… so big big things are coming, this is just the beginning”.
On parting thoughts, we asked Sigil if he had one piece of advice to share with other entrepreneurs in the space, and he kept is simple: “play positive sum games, and long term games”.
Before starting, the biggest obstacle was ambiguity. “12h after launch, we hit a million dollar market cap with hundreds of users signed up. Currently there are 1 thousand users on their platform.”
We are beyond impressed with what @sigil and @aryanm, and their team including @uyxela@venkat@hughjiang have developed, in such a relatively short amount of time— and our eyes are definitely on them to see where they take @bitswap in the coming weeks!
Today we were lucky enough to catch up with Clay Perry (@clayperrymusic— an insanely talented and ambitious recording artist; hailing from Fort Worth, Texas. Clay was one of the first musicians and NFT creators to come on Bitclout— and is making some serious moves to ensure he continues to stay one step ahead of the pack.
Clay has been making music since day one— but his professional career took off roughly ten years ago, and the rest as they say is history. When talking with Clay about his plans for Bitclout— and trying to get a sense of how he’s been able to find so much success, relatively quickly with the platform— Clay explained he sees Bitclout as a natural progression to his career, not some new mystery in an enigma to unwrap.
“Ive been on all the social platforms, you know, I’ve seen Myspace and Zynga come and go— so I’ve had to learn all these new skills on the fly (in addition to making music); like marketing, and self promotion, interacting with fans.. so now with Bitclout, I’m able use everything I’ve learned”
When asked about what kind of a role he sees Bitclout playing in his music career, Clay immediately responded that he sees Bitclout as being one of the central pieces of his online presence.
Clay, being a trailblazer in NFTs in addition to Bitclout also sees this cross-over as being integral to his success on the platform. “NFTs are the future for me, I plan to release all my future music as NFTs, instead of the traditional services like Spotify, or iTunes— and everyone for the most part already knows what an NFT is on Bitclout, so there is already demand in the market”.
Tonight actually marks the night when Clay is auctioning off his latest single, aptly titled “Bitclout” as an NFT. Clay explained that he sees NFTs as an opportunity for artists themselves to actually own, and profit fairly from their work— where as the current status quo is largely in the favor of the labels and conglomerates.
Clay has big plans for his coin holders, with lots of innovative and exclusive perks planned— and one such hotly anticipated drop is a new track dropping this 420 (April 20th) with none other than the legend himself, Snoop Dogg!
For parting words, Clay offered any musicians considering entering the platform this invaluable insight— “Bitclout isn’t like the other platforms, you have direct access to your fans and coin holders, and they have direct access to you. You’re not going to be drowned out by some A-list celebrity, you can really communicate and connect with people on Bitclout”.
Clay recognizes this is partly due to the relatively small size of the platform, but for him it has more to do with the connections creators have with their coin holders “For the first time, fans can be a part of the success— they want you to succeed like never before, because your success is their success; so Bitclout has turned into this really positive and supportive community”.
If you haven’t checked out his music yet— stop what you’re doing, or better yet crank his tunes, and enjoy what you’re already doing that much more!
Clay, his Creator Coin, his NFTs, his upcoming track with Snoop, and all his other— yet to be released plans have certainly gotten our attention, and we cant wait to see where he takes things from here!
In the world of Bitclout things happen fast. It was little more than a few weeks ago, that the platform came into existence— and already there have been layers upon layers of innovation building new and exciting ways to utilize the platform.
As with any emerging industry or market, those who adopt and perfect early can see huge upsides— as the masses catch on. Bitclout in this sense, is no different.
There have been some obvious early accounts, and creators who have managed to edge themselves above the ever-growing and extremely competitive market. Names like @craig , @jakeudell and @WhaleSharkdotPro.
In addition to these top accounts holding most of the money in the platform (either through their own CCs or their holdings), they also hold a significant amount of star power. Just yesterday for instance, the biggest news on the platform was the induction of the latest member to the self titled “Bitclout Boys” (An exclusive group of whale accounts, that are friends IRL).
Such success (collectively in the tens of millions of dollars) brings on interest to say the least— and Jealousy. A healthy amount of jealousy never hurt anyone, and in fact— if channeled correctly, is probably what got us all on the clout in the first place! But what happens when that jealousy turns sour?
These questions will be answered in the coming weeks, as people continue to experience, innovate, and create— but one experiment that has gotten our attention (and not necessarily for the right reasons) are the ever popular promises of “CC Index funds” — and CCs that are intentionally misleading.
An index fund, put simply, is a portfolio of investments that typically holds an array of holdings— giving investors an easy and relatively stable way to invest. The theory is— with a large enough group, the individual ebbs and flows will balance each other out— summing in stable and predictable growth. Index funds have a proven track record in classical markets, and put simply— they’ve been working!
So what does that mean for Bitclout? In our opinion, it’s too early to tell— but there are some definite warning signs that have us fearing the viability of the platform — for the first time.
Our biggest concern is for investors, particularly unaccredited or experienced investors getting duped. This is extremely easy to have happen, especially in the early days— as there is literally zero regulation or oversight happening on the platform currently.
This is allowing for some accounts to create very misleading profiles, which are compelling hopeful investors to invest in something that may or not actually be as advertised.
Traditional financial institutions require securities and trading licenses, and are required to provide extremely detailed accounts of all their transactions. There are third party, often international governing bodies conducting audits, and creating best practices… and in Bitclout, currently— none of this infrastructure exists!
So what does that mean for prospective buyers? Are Bitclout indexes possible? Are they legal? Should you invest in one?
Possible— Yes. Legal? This is for the courts to decide.
Should you invest in one? This depends on how, and where you are investing. If you come across an account on Bitclout that labels itself as an “Index of the top CCs”— ask yourself— how is that possible, and what exactly are you buying?
How is the value of the CC you are purchasing linked to the rise of the “Index Fund”?
For this to happen legitimately— the fund would have to be held by a TRUSTED party, that invests all investments equally into its “Fund” (ie. grouping of CCs), and therefore the CC of the “Index Fund” account itself has ZERO correlation to the Index itself.
Perhaps there is something we are missing, but in our opinion— Index funds will have to be created ON TOP of Bitclout, by licensed and trusted parties who are held accountable by governing bodies.
Although there is lots of uncertainty surrounding Bitclout Index Funds — we believe the concept is solid, and there is definitely a future— the community just needs to figure out a safe, and legal way to make it happen!
Hi my username is @Stonkie but I also go by Austin, I first found out about Bitclout from a friend on the wall st. bets trading discord. He invited me and told me he bought some crypto and it was a social media type of site that gives people a voice backed by crypto which peaked my curiosity.
I used to be a full time crypto trader but switched to stocks when covid decided to ruin 2020, so I decided to check Bitclout out. I verified my phone number and immediately got my first $7 from Merlin as I’m sure you did as well if you’re reading this from Bitclout and if you haven’t joined yet hopefully you will after reading more.
I didn’t know what to do with this $7 dollars until I realized you can buy your coin as well as others and double your original investment. This interested me extremely as I trade stocks and help your normal retail trader get a leg up in the market through education and trade ideas. I figured if this was a community you can buy and sell personalities based on their creative ideas/posts that there has to be a lot more other similar people on here. Which there is I found out.. Among some of the other large variety of people, wether be it your mom and pop T-shirt maker, your NFT art collector or your favorite app developer. They’re all here on Bitclout which give’s it a great sense of community and amazingly diverse economy.
Now some people may look at trading peoples ideas in a weird way but until they’ve fully experienced the diverse, giving and amazing economy you really can’t knock it. After my first $7 from merlin I looked around the site and was wondering how I can gain more “clout” and I came across @GiftClout. Who is an amazingly nice guy who literally give’s away ten’s of thousands of dollars if not more to each person on the site. Well one night he accidentally type out his seed phrase(which is a password essentially) and immediately some of bit clout’s community tried to step in and help but like everywhere in life, where there is money there is people with malicious motives. Prior to this happening, over $40k+ in funds was given away to people with absolutely no motive other than to be kind and generous.
Every time you login you can look on the sidebar and see who is the richest of them all, you’d expect to see Jeff Bezos, or Elon Musk (who’s currently #1 in terms of Bitclout funds in his account), But even he has competition from the Bitclout boys. The Bitclout boy’s are a more 2021 version of the Backstreet Boys except on Bitclout.
They all are on the sidebar under top weekly creators — but why they’re there in the first place brings up a divisive point. Critics say they’re there simply for being wealthy and people storing funds in their name (in the tune of millions of dollars we might add!). Others clearly appreciate and support what the Bitclout boys are offering, and want to be involved in the rising tide of value they are creating for themselves— and their coin holders.
What ever your view point— its impossible to ignore the insane growth occurring in all directions on Bitclout.
I dream of a day when there is a spot on the home screen to profile everyones favorite mom and pop shop, or an up and coming musician— trying to make an extra buck on the side. Given all the love already being spread on the platform, Im optimistic features like this are already in the works!
Behind the scenes of Bitclout, in the Bitclout pulse discord (not affiliated with Bitclout in anyway) is amazing. If you feel like you have a brilliant idea and/or concept for Bitclout — you can have 10-15 minutes to “shoot your shot” as they say.
The people that run the discord are extremely diverse and the community in it just as much, if not more so. It’s filled with people from every walk of life, full of unique people that are putting out new content not based on their coin’s value but based on their idea’s and uniqueness.
Bitclout is a thriving, brilliant community built upon diverse ideas and concepts — which is precisely what makes Bitclout such a great place!
It’s still early days, and yes there will be things happening on the daily as with any thriving ecosphere — but I remain optimistic things are only heading up, as Bitclout is a consistently improving economy of ideas and people.
With the lines getting blurrier by the day between the increasing subtle distinctions of real vs virtual life — one could easily be forgiven for getting confused by what exactly an NFT is?
As most of you know by now, an NFT is a non fungible token— or put simply — Proof of ownership of a digital asset. What is driving the demand in the NFT market at the moment is not as easy to define.
This is partly because the industry itself is so new (most NFTs are tied to crypto networks or coins such as Etherium), but also partly because of the diversity within NFTs themselves. Some are straight forward digital assets, such as an original character to be used in a video game— but some are harder to define, like Jack Dorseys “First Tweet” which sold for an astronomically high $2,915,835.47 USD.
NASA itself just announced they’re launching a rare watch collaboration NFT with Anicorn, which is redeemable for an actual watch! (Just when you thought you were getting the hang of NFTs!!).
Some of the biggest players in the game on Bitclout (think @WhaleSharkdotPro et al.) are also involved in an extremely exciting NFT backed Crypto called $Whale, which has seen enormous success recently.
Exactly where the lines will fall between reality, and virtual will be for the historians to decide— one thing for sure is NFTs, Crypto, and all things Bitclout are definitely on a come up; and we are thrilled to be along for the ride!
If you’ve been on the platform for even a short amount of time, you’ve probably heard the expression “pump and dump”— but what exactly is a pump and dump?
Essentially, a pump and dump is an intentionally deceitful practice to inflate a CC with hype, driving the price up— for the schemers to then “dump” at a huge profit— leaving everyone else with the bill.
This can be done by either investors or even fake creator accounts, and full on organized scams using twitter, and other channels to “verify” said account.
Thankfully these scams are becoming less frequent, as the platforms users become more savvy, and experienced— but this is now opening up a new avenue of trouble; where speculation of scams can have dire consequences for legitimate creators.
Over the past 24h the AMAZING, talented (and very real) @Trademeproject was the victim of precisely this kind of speculation. Over the course of just a few hours, an unknown group of players organized a smear campaign across multiple social channels— labelling Trade me project’s meteoric rise as a “pump and dump”.
It’s understandable why people may be envious of success, but this platform needs ALL OF US to figure out how to support each other, and rise the global tide. Speculation is important, but malice has no place on the clout.
We have been huge fans of everything Trade me project for a long time, and it will take more than fake gossip to rock out faith— but many weren’t so lucky, and were duped out of a SOLID initiative to be a part of.
Moving forward we hope the community continues to rally against hate— and continue to be the overwhelmingly positive place, generally speaking, it has been!
To say this past year has been tough would be an understatement, but few industries have felt a bigger impact on their bottom line than the music industry, with live music basically becoming non-existent GLOBALLY overnight.
Musicians, and artists en masse have had to adapt with the constantly changing, often scary, and uncertain times. Emerging from the veritable mess of this past year are trendsetters like @twntyfour — an OG on the Bitclout scene.
Twntyfour is a super talented recording artist who has been blowing up from Roermond in Netherlands, and proudly represents his Donderberg neighbourhood– AKA ThunderHill.
Read our exclusive Q+A below to learn more about his take on Bitclout’s current landscape, and where he hopes to see things go from here!
What is it that first attracted you to Bitclout?
The first thing that got me hooked was the idea of people invest into my carreer. As a underground artist you constantly look for opportunities to grow your reach because as an artist you want to get your music heard by as many people as possible.
How do you see Bitclout playing a role, in your career as a musician?
personally I think it will kickstart my carreer, cause now my fans/supporters will be able to help their favorite artist to grow. and it’s not that they just give me money, my growth equals their growth. me going up means them going up with me so I think it’s a great way to bond with my fans.
What other music related Creator Coins are you most excited about?
as of now haven’t seen a lot of music related pages, I think @BitRap will be huge, @6ixbuzz too. I also brought some smaller musicians to the platform. one of my real life homies who just started producing called @JulyHeat is also trying to get his name out there. On another note I will be using my connections to get bigger artists on the platform too because I would really want to see those artists use their reach to get smaller artists on the platform.
In your opinion, what value does Bitclout offer Musicians? What Value does it offer fans?
Like I mentioned earlier, the fact that fans can help growing their favorite artist by investing in them will create a different type of bond. the artist goes up, the fans come with them.
Have you thought about different types of perks or incentives you may want to offer your Coin Holders?
Yes. as of now I just want to be active more on Bitclout than other social media, Grow my reach, which is a good thing for all of my investors because they invested to see me grow. I also have been thinking about a feature on the platform where you can post things on like a different timeline that’s only to be seen for the exclusively investors, but we’ll have to keep our fingers crossed for that! so @cloutfeed if your watching… And I also can’t wait to be posting audio/video clip too but we’re still waiting on that. Once I get my funds up I will also be investing more money into my own coin.
What’s one piece of advice you would give new artists, as they enter the platform?
One thing I learned is, you gotta be active. Like for real. Also bring value to the platform, have open minded convos with other creators on for example the global feed. Share your thoughts on possible new feature for bitclout. Another thing I wanna add is invest in yourself and the people you wanna see grow and don’t add too much value to the price of your creator coin, it will grow the more value you bring!
What do you think Bitclout means big picture to the status quo in the music industry?
I think music labels are going to have a tough time because in the current music business they are the investors for artist, Bitclout is definitely going to shake that up since everybody is able to invest in their favorite artists.
We expect BIG things from Twntyfour ahead, and have him soundly locked on our Who to Watch Radar.
If you’ve been on Bitclout over the last few days, you’ve probably come across the AMAZING content @Trademeproject is putting out there.
Demi Skipper is the genius behind the meteoric success of their CC, and has been an early leader in the Bitclout community– providing a refreshing example of what social entrepreneurship can look like!
We were beyond excited when Demi agreed to take time to provide some insight into Trade Me Project ‘s success, in addition to providing some super helpful tips for anyone on the platform.
We are huge huge fans of everything Trade me project, and cant wait to see them take over!
Where did you first hear about Bitclout?
Clubhouse – that platform specifically has been a really great resource for me to meet lots of different people and hear more about things that are happening in the Crypto space.
What was it about the platform, that first drew you in? Why?
BitClout is really something special. While there are tons of consumer facing crypto products on the market, there is nothing that has succeeded in combining a social platform and a crypto platform together. To me, this is the dream scenario at the perfect time.
(I should note that in my real life, I work in tech building consumer facing apps)
What is your favourite part about the platform so far? Why?
The networking. In the span of just a few weeks I have been able to connect with more people through BitClout than any other platform I have ever been a part of.
Who is your favourite account on Bitclout? Why?
Ohh this is a hard one, I honestly don’t think i’m ready to pick one. I will say, some of my favorites are not actually people, but tools that are going to greatly improve the BitClout ecosystem in the future.
What’s the most exciting, yet to be realized, potential of the platform— in your opinion?
Well, just answered this one above. For me, the most exciting unrealized part of this entire platform is what its users are going to build on top of it. We have already started to see entire economies grow from BitClout (there is a newspaper/newsletter, tools to analyze data, tools to give to charity) We are at the very beginning of seeing what people will build with BitClout at its foundation.
What one piece of advice would you give new users to Bitclout?
Interact on the platform. So many accounts you see on BitClout sign up, but then never interact with their investors. To me, this is a missed opportunity. As coin holders on BitClout, we have this incredible opportunity to connect with people who see value in us, interacting with them is where the magic begins.
Once the initial excitement starts to fade, and you realize that you’re going to have to put in the work to become a “Bitclout Billionaire”, all the intricacies and inner workings of coin value, growth, market caps, coins in circulation, and locked values can get pretty confusing— pretty quickly!
Fundamentally, Creator Coins prices are linked to how desirable they are. Desirability is determined by an array of factors— almost always linked to growth potential (or in some cases because CCs serve as paywalls to premium products or services).
If people want a coin, they’re going to buy that coin— and the more people that buy a coin— the higher the value of that coin rises.
When someone buys your CC (creator coin) their investment goes into locked USD.
The market cap is 3x the locked USD. If you divide the market cap with the amount of coins in circulation you will get the coin price.
This relationship is called a “Bonding Curve”, which occurs due to the limited availability of the asset, and the increasing demand— meaning subsequent buyers have to consistently pay more for the same shares.