BitClout is a new social media platform that’s gaining popularity among celebrities and influencers. It allows users to post content and follow others, and it also gives users a virtual currency, called “BitClout,” which can be used to purchase goods and services on the platform.
The platform was founded by a mysterious developer with the handle diamond hands, who is believed to mimic the anonymous name of Satoshi Nakamoto, the founder of Bitcoin. The company has received a lot of attention and is backed by VCs, but there are some red flags around the project.
What is BitClout?
BitClout is a social media platform that was created by an anonymous group of developers, backed only with its own token currency called BTCLT (Backers Only).
The platform is built on blockchain technology and uses a decentralized protocol. It is akin to the Ethereum blockchain. The network is primarily used for creating “creator coins” that rise in value when a creator becomes popular on the site.
At its core, BitClout is an anonymous platform that allows users to follow and invest in people’s reputations. The system is designed to resemble a public “Yelp for people” wherein everyone can follow and buy the coins of famous creators.
BitClout is a relatively new startup and is largely viewed as the next big thing in crypto and NFTs. It has been praised by influencers and investors alike but is also receiving a fair amount of criticism.
While the idea is sound, a number of experts are skeptical that the project will succeed in its mission. Some argue that the monetary aspect is not viable because BitClout’s coins are not exchangeable to US dollars. Others are concerned about the privacy of the founder, known only as @diamondhands.
One of the biggest questions about BitClout is how it will protect user data from unauthorized access by third parties. The site claims that it has implemented advanced security features, including a “seed phrase” that is used to log into the platform. The seed phrase is unique to each person’s account and is the only way to verify that someone has the correct credentials to access their BitClout account.
In order to secure your account, the seed phrase that is used must be backed up in case it gets stolen or lost. If you lose your seed phrase, your BitClout account will be compromised and anyone can purchase your coins without your permission.
Another issue is that the wallet containing BitClout’s coins is not on a traditional blockchain, like the Ethereum network. Instead, it is held in a separate server, and there is no option to convert the coins back into dollars at this time.
Who is April Lester?
A gunshot on Christmas Eve 2008 ended the lives of 29-year-old April Lester and her 22-year-old boyfriend Jeremy Taylor. Police are still searching for the unnamed knuckle dupper that killed them.
The dead couple’s children are not the only ones who have been affected by this tragic and sad event. The six small kids, ranging in age from 2 to 12 and a half, were all sleeping or snoozing when the shots were fired, according to Columbus police detective Kathie Justice. Two of the kids reportedly ran out of the house.
Luckily for them, the rest of the family was safe inside their home at 381 South Hague Avenue. The most notable thing about this home is that it had a front porch. This was a major selling point for the couple, who moved in a few months before the holiday.
The name of this home eluded to the fact that it was not as spacious as its neighbors, but the couple did a decent job of sprucing up the place in the time they had available. They also were generous with their donations to local charities. Several of the children were named after famous people, but it is not clear how many were born to these two philanthropists.
How can I get involved in the movement?
BitClout is a social media platform that combines many of the other virtual entertainment stages. Users write short musings and post photos on their profiles, as they would on Twitter; they can even award cash to posts that they especially like, which is a twist on Twitch Bits. However, while those other platforms measure their users’ social clout through preferences and adherent counts, BitClout measures it by appending an actual retail cost to each post.
The site’s primary founder is anonymous; he interacts with users on the site through the handle “diamond hands.” He has never come forward, but he is commonly suspected to be Nader Al-Naji, a former Google software engineer.
It’s unclear why he wants namelessness, but it may have something to do with mimicking the anonymous creator of Bitcoin, Satoshi Nakamoto. It’s also worth noting that the main way for someone to make money on BitClout is by buying a creator’s coin. The coins themselves don’t give the coin holder any rights to a maker’s future income outside of the stage, or to access to that creator.