they own your coin.

There is a phenomenon going on with BitClout. It’s growing like crazy. Here is the global feed from a few seconds ago:

This output comes from clout-cli but any bc node will give you access to the same information. You can also run your own node. But what is the TLDR for why this thing is taking off?

  1. Have you ever had that “I wanna make my own coin” thought? Everyone does.

  2. The success of BTC made it possible to rewrite twitter as a DAO. And a VC backed company did.

  3. This interview with Vijaya Gadde shows how complicated trying to ban content is; BitClout pushed these decisions down to node operators.

There’s a lot of new terms to learn: re-clout, diamonds, “creator coin.” See in the BitClout world every user is an artist, by posting something, text, an image, art anything you are creating.

And artists support each other. And sometimes an artist blows up and becomes huge and… you see where this is going? NFTs? Right. Well sort of. NFTs are more about specific works of art “placed on the blockchain” and Creator Coin is just coin, nothing in the physical world, but it can be converted to BTC.

So me on bc is a little different from me on twitter. Over on bc we all have a number of coins in circulation and a price. Notice the CEO of bc diamondhands:

Just a few more coins in circulation than me. But a big price per coin difference. Now everyone has a chance to be a hit coin. If you are using the other big social media companies, they own your coin.

And that’s why so many people are switching over. The value prop is amazing. Followers, number of likes, we all know influencing is currency, but own your likes yourself!

And then side note, the whole free speach debate moves to node runners. In that doc it will talk about how you make money running a node, and how you decide what content you will accept or will NOT accept.

More evidence of Clout taking off:

It’s free to create an account. Well, the main node operated at doesn’t charge to make an account. But they do require a real mobile phone number. In the future it should be interesting to see what other nodes do.