Thread by @tobydoyhowell

1/ Depending on which Twitter bubble you live in, you may or may not have heard of BitClout

I won't tell you to buy tobydoy coin yet: bitclout.com/u/tobydoy

read the thread first, then decide for yourself

2/ BitClout is a blockchain based social network

from a UX perspective, it looks like a minimalist and shittier version of Twitter

3/ The core concept behind it is monetizing the clout of creators

if i think @austin_rief or @ShaanVP are rising stars whose status will only grow, i can log on and buy their coins

4/ The catch

to make an account, or buy the coins of other people, you have to buy $bitclout using bitcoin

also, you can't cash your $bitclout out yet

stay with me here

5/ The core idea is brilliant

how many times have you wished you could buy stock in a creator like @MrBeast or even just a really smart person

i would have 10,000 shares of @TZhongg if i could right now

6/ BitClout enables me to do exactly that

Despite it feeling like a huge scam (which i'll touch on in a sec) the experience of logging on to buy shares of people felt like i was living in the future

7/ But is it a scam?

probably not, even with the whole not-being-able-to-withdraw-money thing

just look at some of BitClout's investors:

Sequoia, Andreessen Horowitz, Social Capital, TQ Ventures, Coinbase Ventures, and Winklevoss Capital

I trust those names

8/ The other brilliant thing BitClout does is prey on human nature

yeah getting likes and followers is cool, but have you ever seen your market cap go from $10k to $100k?

9/ Am I "worth" $13,687

Who the fuck knows, but you can bet your ass that i want that number to be higher

10/ BitClout also made the genius (and possibly illegal) decision to add prominent figures to the platform before they even signed up

looking through the "top weekly creators" you'll see names like @naval and @elonmusk, even tho neither one of them have actually signed up

11/ But people are still buying and selling their coin

one @naval coin is worth ~$50,507 and he has a market cap of $16.6 million

but to "access" that $$ (remember cashouts aren't allowed yet) he has to claim his BitClout account

and here is BitClout's brilliant marketing ploy

12/ For @naval to claim his account, he has to "tweet out his BitClout public key and add #bitclout"

13/ That's a marketing flywheel if i've ever seen one

the more prominent the creator, the higher their coin price

the higher their coin price, the more likely they will be to claim their account by blasting out the BitClout name to their millions of followers

14/ So what's my ultimate position?

Cautious. Optimism.

I'm prepared to lose the $500 I put into the platform in order to ensure that i don't miss out on the massive upside of becoming an early adopter of a paradigm-shifting approach to social media

15/ I think that monetizing people, and not just their content, is the future

And I think BitClout has a shot to do it

16/ Okay, NOW go ahead and buy tobydoy coin

or don't

bitclout.com/u/tobydoy