How Does BitClout Work and How to Make Money on BitClout?
BitClout is a social media platform that has recently entered the crypto world. BitClout wants to be “The Crypto Social Network” and their slogan says it all: “Speculate on people and posts with real money.” The site allows users to buy and trade tokens based on the value of someone’s reputation, which is measured by how many followers they have. Every profile on the platform gets its own “creator credit” for every post, like, or follow that occurs as well as a ranking score called “EQ.” EQ stands for Emotional Quotient, which determines how much emotional intelligence someone has in relation to other profiles on BitClout.
Every profile on the platform gets its own “creator credit” for every post, like, or follow that occurs as well as a ranking score called EQ. The higher your social media rankings are (based on how many followers you have), and so too will be your BitClout points–both in number value AND real money worth. This is a genius new way to look at Crypto and Social Popularity. The implications of this kind of structured system that leverages blockchain technology are endless.
BitClout coins are the first tool we have as a society to trade ‘social clout’ as an asset. I think BitClout is a revolutionary concept because it truly brings about social responsibility, and has the potential to be one of our first steps into designing an economy that’s not based on greed.
This is a revolutionary concept because it truly brings about social responsibility, and has the potential to be one of our first steps into designing an economy that’s not based on greed. In its own words, BitClout says this platform “allows users to speculate with real money.” The idea behind trading popularity in terms such as Likes or Followers bares resemblance Bitcoin but also includes elements seen within other platforms like Twitter’s post feed function where you can see people posting things out there for everyone else consume them at their leisure – essentially having no control over what they are doing through these posts being visible across different channels without any way whatsoever stopping themselves from continuing down those paths–which extends well beyond just someone who might have gone viral today after winning
The power behind this coin-based system comes from its ability for users with large followings or high-ranking EQ. You can buy the coins of any account and their value is based on how popular they are. Also, when you buy a coin, a percentage can go to the account holder which makes things more interesting.
So, if you can catch and buy an account on the rise, you could literally 100x your money in 1 day. What I did was to put in $0.50 to $10 on different accounts. I invested $1,000 so far and excited to see what happens. Since all of this is based on buzz and popularity, it is the wild wild west right now.
Speculation will also work here. Since everything is tied to Bitcoin, as your investment rises, Bitcoin probably will rise as well and you will get that much more return on your investment.
How to Use Bitclout
You can buy BitClout currency with Bitcoin. Here are the steps:
- You need to have purchased Bitcoin. I have Bitcoin on Coinbase. Coinbase is super easy to sign up for.
- Once you buy Bitcoin, make a BitClout profile here: http://bitclout.com/ (you can have your own coin as well!)
- Now, you can buy Bitclout with Bitcoin by sending Bitcoin to your specific address
- After you’ve transferred Bitcoin over, you can buy BitClout directly on their website.
- Once you’ve traded for BitClout you can use it to buy your favorite creator’s coins!
Suggested Functionality for BitClout
- What if they actually looked at the backlink profiles of accounts as well?
- From an E-commerce standpoint, the clout has some implications for brands as well. What if brands could raise money through this technology?
- Because everything is tied to BTC, what happens if a profile or account is deleted? Where does the wealth go?
How to Withdraw Money or BTC from BitClout and Get Your Money Out
There is no way to get your BTC and cash out of BitClout currently, which is a bit suspicious. I did contact them on this multiple times but it is too early to tell.
How to Make Money on Bitclout
My recommendation would be to put in $100 to $1,000 (send BTC to your account) and buy coins from accounts you know will be popular. My prediction is that you will get at least 5X that money in 10-20 days.
Bitclout has also made buying, selling, and exchanging coins very easy. All you have to do is go on the site and deposit your desired amount. I can talk for a long time about BitClout, but I will end it here because there are some things that need more explanation like how this coin works with Bitcoin or what happens if people stop following each other? But those questions should be answered soon since they’re now in beta testing. We shall find out if this is a legitimate opportunity or another Crypto scam.