<aside> 💡 Divinations → What to make of BitClout?
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Decentralizing social media in much the same way as Bitcoin is decentralizing the financial system. Essentially, BitClout is a website which launched a couple weeks ago that lets you buy "social tokens" which are tied to Twitter Accounts.
I.E. a way for outside investors to invest in people, or influencers.
In theory, the share price of an individual should represent their likability, popularity, and admirability (is that even a word?)
This is Elon Musk's Profile...
Buy Creator Coins
<aside> 💡 Many top users (i.e. most valuable accounts) haven't even signed up yet.
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To me this is a red flag - who controls the monetary return of the investment in said individuals?
Is there a finite amount of coin issuances per individual to balance supply and demand? Or can people create and issue infinite amounts of shares?
How can we confirm the real value of these coins? What if these are just numbers written on a page to drum up demand and investors are funneling money to some random hacker's bank account?