DISCLAIMER: We do not provide personal investment advice and we are not qualified licensed investment advisors. This is not financial advice, and you should never invest more than you can afford to lose. You can follow us on BitClout @Krassenstein.
If you haven’t yet heard of BitClout, you soon will. The new social media platform has taken the internet by storm over the past couple of weeks. For some, the platform represents the future of creating social wealth. For others, it’s a nightmarish episode of Black Mirror.
In a nutshell, BitClout is a quasi-decentralized version of Twitter providing the ability to invest into the future of other users through the purchase of their “creator coins.” Just like we invest in stocks based on earnings, future earnings, P/E ratios and future growth expectations, BitClout allows us to do the same with people.
The concept is an intriguing one; one which could lead down many different winding roads with endpoints that range from a society obsessed with its own personal value to one where doing good is rewarded and hate is punished in real time by society as a whole.
The potential for good is extraordinary, if the platform develops how we all hope it will. The idea behind the platform is to encourage users to contribute not only to the platform itself but also to society as a whole, in hopes of increasing the value of one’s creator coin.
After spending two weeks on the platform, buying and selling other peoples’ creator coins, and watching the rollercoaster ride taken by our own coin’s value, we thought we’d outline a few ways to kickstart your value on BitClout through various means.
When you sign up to the platform, your coin value starts out at $0.00. As more people purchase your coin, the value increases, and as other users begin selling your coin the value will level off and eventually fall. It’s inevitable that your coin value will fall at some point as the original buyers elect to take profit. Starting out it can oftentimes be difficult to get others to purchase your coin, so here are a few steps we recommend you take.
1) This is very important; BUY YOUR OWN COIN! Every person who signs up to BitClout should instantly increase their founders reward setting to 90+% and then buy their own coin (at least several dollars worth, but preferably more). Then you can reduce your founders reward (10% is recommended by BitClout). The founder’s reward is the amount of your own coin you get every time someone buys your coin (at a new high). If you don’t value yourself by investing into yourself, it is unlikely that others will value you.
2) Post a profile photo of yourself, and fill out your profile with a bio that includes links to your other social media profiles, website(s), and projects you are working on. People want to know that you are a real person with real-life clout.
3) Post a couple photos of yourself and/or the work that you do. If you are an artist, post images of your art. If you are a photographer, post some of your best photography.
4) Introduce yourself with a post. Include your name, what you do, and what your plans for the platform are. An introduction will show your audience that you are serious about this platform and ready to dig in.
5) Share your BitClout profile on your other social media profiles (Twitter, Facebook, Instagram, TikTok, etc.). Include the hashtag #bitclout. This will bring your followers to your profile and allow them to potentially purchase your coin.
7) Reply to other people’s posts — especially those posts that show up on the “global” feed. This will get people to click through to your new profile and potentially buy your coin.
8) Help others. Answer questions about BitClout both on the platform and off. This will show the community that you are ready to add value, thus increasing your value on the platform.
9) Make multiple posts per day. The more active you are, the more your posts are seen and the more confident people will become that you are on the platform to stay. This does not mean that you post 400 times a day, every few minutes. Just like on other platforms, if you overdo it you may put some people off.
10) Talk about your work and projects you are working on. Outline your goals and seek growth. People value you based both on your past and current endeavors as well as your future projects. Just like the stock market, people value those who have potential to grow.
11) Don’t take it too seriously. Have fun. This is a game.