The crypto bull run just got a lot weirder.
Early this morning, a new online platform called BitClout graduated from its private beta stage and hit the public sphere.
Described as the first “crypto social network,” BitClout is more or less a blockchain-based market for cryptocurrencies tied to… their owner’s personal reputations.
In other words, with a BitClout account, you can now buy and sell “coins” that fluctuate in value based on, for example, a celebrity’s fame and social standing. There’s now a marketplace for coins from “creators” like Elon Musk, Justin Bieber and Kim Kardashian.
There are regular people on BitClout, too – but it stands to reason that the more well-known a person is, the more likely people will be to buy that person’s token. (Elon Musk’s coin is already worth well over $70,000.)
Clearly, this is a niche service – I don’t see my parents getting excited about buying Bieber coins – but it’s hitting the startup world like a freight train.
A cursory look at BitClout’s list of early backers is something like working the red carpet at the Silicon Valley Oscars. On that list: Andreessen Horowitz, Sequoia Capital, Coinbase Ventures, Winklevoss Capital, and Reddit cofounder Alexis Ohanian.
Here’s how it works: you sign up for an account on their platform, transfer some Bitcoin into your virtual wallet (where it converts into BitClout’s native currency), and explore the marketplace. From there, you can buy and sell anyone else’s coins.
It’s basically a microcosm in which you make bets based on your opinion of someone. So if you think Kim Kardashian is likely to maintain or improve her public image over time, you’d invest in Kim’s coin. On the other hand, if a dramatic scandal destroys her rep, the value of that coin could plummet in response.
So maybe it’s not saving the world or solving world hunger. But regardless of this new tech’s importance, it’s an interesting new way for crypto investors to potentially make money.
The BitClout platform just opened to the public today… which means we’re sure to see a feeding frenzy of media coverage about it in the coming weeks.
In other words, buckle up… because the crypto bull run is about to get a second wind.
The great thing about crypto is that most of the time, the market as a whole reacts to good news. You don’t need to be an investor in BitClout itself to reap the benefits of what’s to come – because more often than not, when one crypto surges, the rest of them get a boost too.
If you want to win in this space, the key is to stop staring at Bitcoin and find the alternative cryptocurrencies most primed to explode. These diamonds in the rough are tough to root out… but their profit potential can be virtually unlimited.
Think about it: nobody was talking about Dogecoin (DOGE) a year ago, but in that same time frame, it’s grown in value by more than 3,000%. Ethereum (ETH) is up more than 1,300% in the past year. Stellar (XLM) has shot up 989%. The list goes on.
Luckily, there’s a simple way to suss out what the next big movers could be. All you have to do is follow the lead of a heavy hitter – a crypto expert with a great track record and a killer portfolio.
Personally, I have one of those whales on speed dial… and right now, he’s got three cryptocurrencies he’s especially bullish on. (Hint: It’s not Justin Bieber’s coin.)
Check it out here. I’ll be back soon.
Until next time,
Neil Patel
Early this morning, a new online platform called BitClout graduated from its private beta stage and hit the public sphere.
Described as the first “crypto social network,” BitClout is more or less a blockchain-based market for cryptocurrencies tied to… their owner’s personal reputations.
In other words, with a BitClout account, you can now buy and sell “coins” that fluctuate in value based on, for example, a celebrity’s fame and social standing. There’s now a marketplace for coins from “creators” like Elon Musk, Justin Bieber and Kim Kardashian.
There are regular people on BitClout, too – but it stands to reason that the more well-known a person is, the more likely people will be to buy that person’s token. (Elon Musk’s coin is already worth well over $70,000.)
Clearly, this is a niche service – I don’t see my parents getting excited about buying Bieber coins – but it’s hitting the startup world like a freight train.
A cursory look at BitClout’s list of early backers is something like working the red carpet at the Silicon Valley Oscars. On that list: Andreessen Horowitz, Sequoia Capital, Coinbase Ventures, Winklevoss Capital, and Reddit cofounder Alexis Ohanian.
Here’s how it works: you sign up for an account on their platform, transfer some Bitcoin into your virtual wallet (where it converts into BitClout’s native currency), and explore the marketplace. From there, you can buy and sell anyone else’s coins.
It’s basically a microcosm in which you make bets based on your opinion of someone. So if you think Kim Kardashian is likely to maintain or improve her public image over time, you’d invest in Kim’s coin. On the other hand, if a dramatic scandal destroys her rep, the value of that coin could plummet in response.
So maybe it’s not saving the world or solving world hunger. But regardless of this new tech’s importance, it’s an interesting new way for crypto investors to potentially make money.
The BitClout platform just opened to the public today… which means we’re sure to see a feeding frenzy of media coverage about it in the coming weeks.
In other words, buckle up… because the crypto bull run is about to get a second wind.
The great thing about crypto is that most of the time, the market as a whole reacts to good news. You don’t need to be an investor in BitClout itself to reap the benefits of what’s to come – because more often than not, when one crypto surges, the rest of them get a boost too.
If you want to win in this space, the key is to stop staring at Bitcoin and find the alternative cryptocurrencies most primed to explode. These diamonds in the rough are tough to root out… but their profit potential can be virtually unlimited.
Think about it: nobody was talking about Dogecoin (DOGE) a year ago, but in that same time frame, it’s grown in value by more than 3,000%. Ethereum (ETH) is up more than 1,300% in the past year. Stellar (XLM) has shot up 989%. The list goes on.
Luckily, there’s a simple way to suss out what the next big movers could be. All you have to do is follow the lead of a heavy hitter – a crypto expert with a great track record and a killer portfolio.
Personally, I have one of those whales on speed dial… and right now, he’s got three cryptocurrencies he’s especially bullish on. (Hint: It’s not Justin Bieber’s coin.)
Check it out here. I’ll be back soon.
Until next time,
Neil Patel
Follow @angelsandentrepreneurs
