Summary List Placement

Three weeks ago, the venture world woke up to see their reputations for sale.

As one person tweeted, “I own a piece of @chamath and @elonmusk on BitClout. Should I start my family office now or wait to?”  

He’s referencing renowned investor Chamath Palihapitiya and the family offices that handle the finances for the ultra-wealthy. It’s the power of BitClout: buy a share of your favorite VCs and watch your self-esteem skyrocket.

Crypto platform BitClout, founded by a (kind of) anonymous group of developers, certainly made an impression. It essentially cloned a chunk of Twitter, uploading the profiles of 15,000 people without their permission. Twitter CEO Jack Dorsey had publicly mulled over the idea of a decentralized Twitter before, but BitClout beat him to it — with a twist.

BitClout is its own cryptocurrency that you can buy with Bitcoin. You then use BitClout to purchase “creator coins,” tokens issued in the name of popular social media stars. As more and more people purchase a creator’s token, the cost of that coin goes up. So, the more popular a creator, the more their coins are worth. There’s even a leaderboard showing whose coins are worth the most every …read more

Source:: Businessinsider – Tech


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