Have you heard of Bitclout? 🚨
It is a new platform for buying “shares” of influencers.
The more popular they get, the more money you make (in theory).
The idea is cool, but the platform is dangerous.
Let’s curate some sanity👇🏼
It is a new platform for buying “shares” of influencers.
The more popular they get, the more money you make (in theory).
The idea is cool, but the platform is dangerous.
Let’s curate some sanity👇🏼
For thoughtful takes, follow
@nateliason and @stephsmithio.
Also, read and share Steph’s breakdown of the problems with Bitclout: docs.google.com/document/u/1/d…
@nateliason and @stephsmithio.
Also, read and share Steph’s breakdown of the problems with Bitclout: docs.google.com/document/u/1/d…
Another good account to follow is @_prestwich:
https://twitter.com/_prestwich/status/1373357222323888129
Bitclout was not designed to offer people a secure and trustworthy way to earn a respectable return on their money.
Instead, it was designed to go viral by triggering your lizard brain. 🦎
The creators say they’ll figure everything else out later. 🤢
Instead, it was designed to go viral by triggering your lizard brain. 🦎
The creators say they’ll figure everything else out later. 🤢
You know what really blows my mind?
Many of the Twitter accounts recommending Bitclout built their reputations on Twitter for trustworthy advice on how to make great financial decisions.
🤯
Many of the Twitter accounts recommending Bitclout built their reputations on Twitter for trustworthy advice on how to make great financial decisions.
🤯
It’s a classic case of incentives tarnishing a good reputation.
To access their Bitclout, big Twitter accounts must link to their Bitclout profile.
They’re probably not putting much money in the platform. They’re just making a small bet by accessing their account.
To access their Bitclout, big Twitter accounts must link to their Bitclout profile.
They’re probably not putting much money in the platform. They’re just making a small bet by accessing their account.
But by accessing their account, they’re promoting Bitclout to hundreds of thousands of people on Twitter who trust and believe in them.
They’re falling into the trap created to trick them by the Bitclout team.
They’re falling into the trap created to trick them by the Bitclout team.
@AnnieDuke talks about our bad habit of judging choices by the outcome, not the process.
Bitclout could take off & make early influencers very wealthy.
Or it could blow up & make them look like scam artists.
Either way, the data we know today says it’s a bad decision.
Bitclout could take off & make early influencers very wealthy.
Or it could blow up & make them look like scam artists.
Either way, the data we know today says it’s a bad decision.
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