Bitclout is a social media platform like Facebook or twitter. But where bitclout begins to differ is in the make up.
Table of content.
- Introduction to bitclout.
- Functionality of bitclout.
- Owners of bitclout.
- Creators coin.
- Founder’s Reward.
- How to fund your bitclout wallet.
- Bitclout’s Diamond.
- Bitclout’s NFT.
- $10 Gift.
- Bitclout costing.
Introduction to bitclout.
Bitclout is a social media platform that functions directly on the crypto block chain. What this means is this, unlike Uhive which is developed on Ethereum, bitclout is directly on the crypto blockchain without a middle man.
This is similar to bitcoin’s nature, as bitcoin does not require any middle man but is directly on the blockchain.
To describe bitclout in short, bitclout is the social media of Bitcoin.
Bitclout has its own crypto currency called clout. Clout is currently valued at $100+ for 1 clout.
Functionality of bitclout.
The primary aim and purpose of bitclout is to bring creative minds together to help foster a creative relationship between creators, art lovers and social media users alike.
Since bitclout is self sufficient, and directly on the blockchain, developers can create their apps on the bitclout blockchain, similar to what you see on Binance or Ethereum blockchain networks.
Some of the apps currently on the bitclout blockchain network are, oneclout, flick and cloutfeed.
Owners of bitclout.
Bitclout is owned by users on the platform. Every registered user of bitclout owns a portion of bitclout, this makes bitclout truly decentralised.
This is an important topic of bitclout. When you join bitclout, your username gets attached to the bitclout network which then generates a coin to your name.
This coin grows in value or depreciate depending on your level of influence on the platform.
Your creator coin value is not limited by the official currency of the platform [clout].
Your creator’s coin can go as high as $30,000 per 1 coin or as low as $0.
A founders Reward or FR as it is usually represented on the platform is the reward that goes to the owner of a specific profile on the bitclout platform.
Your founders reward can be as high as 100% [which is the max by default] or as low as 0%.
When you purchase a creator’s coin with an FR of 100%, you as a buyer of that coin do not get any returns as the whole paid amount goes to the creator of the profile.
But if you purchase a creator’s coin with a 10% or 50% FR, you get the other percentage as a reward. This is similar to what you get during a products sale or a discount.
By default, your Founder’s Reward is set to 100% and you can only change that after you have purchased your own creator’s coin.
The minimum amount you can use in purchasing your own creator’s coin is $1.
After purchasing your creator’s coin at 100% founder’s Reward.
You can then reduce the Founders Reward by editing your profile and setting the FR to 10% or as desired, to attract buyers for your creators coin.
The more users who buy and hodl your creator’s coin, the higher in value your coin gets.
How to fund your bitclout wallet.
Bitclout offers wallet to its users which is used to store the bitclout crypto currency [clout]
You can fund your bitclout wallet with the use of dollar through wyre or by sending the specified amount of Bitcoin to the unique bitcoin address associated with your profile.
Note: When you want to fund your bitclout wallet, locate the option “buy” by clicking the drop down menu option.
Diamonds on bitclout are similar to tips you get on Uhive for your post. But unlike Uhive where you only get tips for your post, on bitclout, you can be gifted a diamond for your replies or reclouted posts.
Diamonds on bitclout are a creator’s coin extension. When you get gifted a diamond on bitclout, it’s represented as a creator’s coin.
A diamond cost $0.01.
NFT is an acronym for Non-Fungible-Token. An NFT can range from arts, to words or a deed to a physical property in the real world.
On bitclout, you can mint any aspect of your profile or posts to NFT and then place it on sale.
An NFT is a product on the crypto blockchain with a unique ID. Also, NFT can grow in price depending on the value associated with creator of that NFT or what it represents.
When an NFT is placed on sale, a process to acquire the NFT is initiated, that process is called bidding.
A bid can either be limited in a minimum pricing but there is no maximum limit.
That is, an NFT seller can decide set the minimum price of its NFT to $10 or more, or leave the minimum price at $0.
I am sure you are fascinated about bitclout after learning so much amazing things about the platform. Well, unlike bitcoin, Binance and even Uhive.
Bitclout’s publicity or reach is very limited. To encourage more users to come to the platform.
Bitclout through Diamondhands announced few hours ago that they will be gifting out $10 worth of clout to old and new users who verify their wallet.
To verify your wallet, you need a valid government issued ID card.
If you have this ready, after signing on the bitclout.com, locate your wallet section and click ‘click here’ to claim free $10.
Validation takes less than 10 minutes, and the receiving of the $10 from merlin takes less than 3 minutes.
Costing of bitclout.
Every activity on bitclout costs clout. From posting, to profile update, liking a post and sending diamonds.
This is the reason why after signing up on the platform, Merlin sends you $0.02 worth of clout, to kick start your activity on the platform.
Once this money is exhausted, you are required to fund your bitclout wallet or become an inactive spectator on the platform.
Due to the direct nature of bitclout on the crypto blockchain, it puts the social media platform ahead of other crypto-centric social media platforms.
But the costing nature of activities on bitclout as very much limited users participation on the platform.
But with the introduction of the $10 gift for verification of a user’s bitclout’s wallet, it will very much pump this social bitcoin platform to life.
Bitclout.com has no official app yet, you can access the platform via the web at bitclout.com but there are third part apps like flick and cloutfeed that gives you access to the platform too.
The team is on bitclout @Allroundreview do give us a follow when you join or if you are an existing user.
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