BitClout: https://bitclout.com/
- Where BitClout and People Stock had the same ideas:
- Claiming profile is done by proving you have the same twitter handle
- Clever virality trick: Ask for #deso so that Twitter audience also sees the results
- Messaging for a price is built in to the ecosystem
- Shows who has the highest shares in X
- But not what other people had invested in (no ETF)
- People can trade without creator consent, and creator can claim rewards later
- Transaction pay a tax back to the creator ("founder rewards")
- Bitclout has this tax be user-adjustable, and recommended 0%, but defaulted to 10%
- Differences:
- Twitter-like interface, investment is secondary (e.g. no price charts)
- Priced via "bonding curve" instead of Uniswap AMM
- Aella_girl, balaji have ~6 figures worth of their own coin
- Q: How does buying/selling work? Uniswap?
- Q: How does issuance work?
- Q: Why isn't BitClout used more?
- Guess: Nobody wants to switch to bitclout-ing when infra is incompatible with twitter (Twitter data is the original chat ledger)
- Raised $200M investment? Presumably $2B valuation?
- Q: What were the investment terms? How do VCs invest in crypto markets? Do they get a coin? Is there a company?
- Guess: $DESO itself is its own token
- PoW or PoS? TPS?
- Interesting: Very critical article on BitClout: https://protos.com/bitclout-deso-diamondhands-blockchain-crypto-marketing-gimmick/
- Basically: wasn't a new raise, was "back a while ago, some VCs bought tokens. Now they're 'worth' $200m"
- Up-only bonding curve: Price of DESO doubles every 1M tokens sold; early investors got in at $1; highest price was $180, now down to $60
- Another critical article on BitClout: https://nymag.com/intelligencer/2021/04/the-mysterious-influencer-stock-market-worth-usd1-billion.html
- Some people don't like the idea of their names/profiles being speculated on? Consent problem: with stock listing, there's an explicit and expensive opt-in followed by a bunch of regulations
- Diamondhands to Nader Al-Naji was a pretty sketch connection, already seemed to have been known
- A bit like pretending to be a superhero, I guess?
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