Posted on 04/14/2021 9:42:52 AM PDT by Jan_Sobieski
Prominent users of Crypto Twitter have suddenly discovered they have another profile on a new social network called BitClout, except over there some people are buying and selling tokens representing their identities. It does not matter whether the people behind those profiles have ever touched the social network.
“The core insight behind BitClout is that if you can mix speculation and content together, you can not only get a 10x product that creates innovative ways for creators to monetize, but you also get a new business model that’s not ad-driven anymore,” BitClout’s lead creator, who goes by Diamondhands, told CoinDesk in a phone call.
BitClout is not a company. It is a proof-of-work blockchain designed for running social media. It was created by an anonymous group of developers. Backers only hold its token, BTCLT. Nevertheless, a set of prominent investors and crypto businesses have bought in.
This has been unpersuasive to many prominent members of the industry, who by and large seem to particularly object to their images and Twitter profiles being scraped and copied onto a whole other website...
(Excerpt) Read more at coindesk.com ...
I would consider it a security threat for someone to create an account supposedly me that I don’t even know about.
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