Similar to Bitcoin in its architecture, Bitclout is a new type of blockchain-social network based platform where many people can buy and trade coins representing celebrities and influencers around the globe.
This kind of crypto social network is built to let you to speculate many posts on the internet with real money.
With its own native crypto-currency, called as BitClout from the BitClout blockchain, you can use to do many things on the platform.
This new decentralized protocol (including social network and marketplace) enables creators, influencers, and musicians to monetize their favorite celebrity using a new type of asset called creator coins. (www.billboard.com/articles/business/tech/9542442/bitclout-back-crypto-social-network-celebs/)
Users can buy and sell those coins with the platform’s native crypto-currency, BitClout.
For your information, every profile of celebrities on that platform gets its own creator coin that you can buy or sell, whether that person’s profile is participated or not.
Depending on their social clout in question, the value itself can be designed whether decrease or increase.
As we are mentioned on above, users can spend their BitClout coin on a new asset – creator coins.
Creator coins is type of coin that usually be on every profile person on the platform.
For more, you can buy and sell this coin for your needs.
The purpose for this “buying and selling” idea is to enable people to invest in their favorite person profiles that they believe will become more influential and popular in the future.
The developers of creator coins had already pre-loaded for more than 15,000 influencers profile from Twitter all around the world.
Some of those profiles are Hollywood actors or famous celebrities like Katy Perry, Kim Kardashian, Elon Musk, CZ Binance, and many more.
According to cryptopotato.com/what-is-bitclout/#&gid=1&pid=1 website, some of those selected creator coins have already skyrocketed on the internet.
For example, Elon Musk’s creator coin itself has already priced at almost $68,000 USD.
So, in other words, through the creator coins, you can have your own coin for sure by create your profile with such a simply way.
You can buy your favorite’s person coin by navigate his/her profile first, and then hit “buy”.
To find their profile, search it or visit the creator coin leaderboard.
Then, tap on a blue button next to their names.
The price of each coin will go up when you buy it and it will go down when you sell it.
Anyway, you can buy and also sell their coins even though these profiles are not on the platform yet.
According to the official bitclout whitepaper bitcloutwhitepaper.com, the creator coins itself are designed not enough for fewer than 100 until 1,500 coins per-profile.
The formula for that price determination is:
Price in BitClout = .003 * creator_coins_in_circulation^2
And price in USD = .003*creator_coins_in_circulation^2 * bitclout_price_in_usd
Just like Bitcoin for general - including its decentralizing social media much more same as Bitcoin’s decentralizing the financial system - anyone can run a BitClout “node” on the internet.
For your information, that BitClout node serves the BitClout content.
Every node on the network stores can fully copy all of the data.
So, anyone can build many applications on top of the BitClout data and even create their own feed algorithm without the risk of being de-platformed.
So, if you want to work into crypto-world, may be taking the opportunity to run a BitClout can be the best decision.