Kush's Blog

Kush's Blog

Bitclout - The Crypto Social Network

Bitclout - The Crypto Social Network

BitClout is a social crypto-exchange in which people can buy and sell tokens entirely based on a person's — mostly a celeb or influencer's — reputation.

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It lets you speculate on people and posts with real money; it is built as its own custom blockchain. Its architecture is is similar to Bitcoin

So how does it work... well the value of the Creator Coins relies entirely on the celebrity's popularity, meaning that the value can also rise and fall depending on whether that celeb does something great or something dumb.

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Naturally (and unfortunately) when chatting about celebs and crypto, Elon Musk's name pops up. On March 26, reports stated that the coin representing the Tesla CEO was trading for $68,000. People have created Creator Coins for Kim Kardashian, Justin Bieber, Kanye West, Ariana Grande, and Billie Eilish, too. It's not clear whether any of these celebs gave their consent for their names to be used — but probably not.

"The owner of a reserved profile can claim their profile by navigating to their profile and hitting a button to Tweet their BitClout public key," the explanation continues. "When they do this, they gain full access to the account, as well as a percentage of the creator coins associated with their profile (see Founder Rewards). Only the owner of the Twitter account associated with a reserved profile can claim it."

How is it calculated

Price in BitClout = .003 creator_coins_in_circulation^2 Price in USD = .003 creator_coins_in_circulation^2 * bitclout_price_in_usd

Below is a graph of what the creator coin price curve looks like as a function of how many creator coins are in circulation for a given profile. We also include a table that shows some of these values. Both of these assume a BitClout price of $16. Note also that “integrating” the price curve yields the amount of money “locked” in a profile, which is equal to the “net” amount of money that has flowed into that particular creator coin (included as the third column of the table).

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The users and their posts on BitClout are an underlying data structure that any web application can access. Sites that publish BitClout content and allow people to interact with it are nodes. With this open data structure, sites can invent new ways for creators to monetize or give people incentives to hold their tokens.

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