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ok who the heck are the anons holding nearly $1m of my coin on bitclout? i am grateful, and if bitclout turns out to be a good thing then you can rest assured i've got a billion ideas to use the fuck out of a creator coin and I will moon you but also who in the *actual* heck tho

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iiuc bitclout is a scam

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I'm unclear on this. I don't know enough to be sure it's not, but I know enough to know that the tech it's potentially offering is something that would be extremely useful, and it would be more profitable to not be a scam.

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It’s a scam

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a lot of things are scams, but some aren't, what in specific makes you think this is a scam?

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-can’t withdraw money -they suggest creators buy their own tokens -bitclout running everything through their coin instead of an ETH smart contract

Aella

@Aella_Girl

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@tjrwriting

im kinda a noob so pls educate me but: 1 doesn't seem too crazy to me? there's an active otc market and not-listed-on-exchanges-yet seems kinda normal 2 im less clear on. i personally haven't spent a cent on bitclout, but i was auto verified 3 are there any benefits to that

3:05 AM · Apr 16, 2021

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Yeah it’s smart how they get you on the platform - automatic verification but only given you provide your phone number right? That’s a concern. No place where you can request to have your data removed from their platform. And no way to cash out on your clout.

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there is a way to cash out clout in otc markets and yeah, provided phone number. i am not a fan of this. I have also heard their security isn't very good. I'm hoping they fix it? Is that conceivable?

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And the claims of decentralization are misleading. Their “blockchain” is not decentralized.

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can you eli5 this? I know how blockchains work, and how decentralization works; are you saying that nobody besides the creators are hosting any... nodes right now?

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I’m also new so could be wrong 1 iiuc if it was ERC20 that wouldn’t be a problem 3 not necessarily, just part of the untrustworthy vibe

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I don't know enough to know if there's a clear response to this. I do know there's reasons why people make blockchains besides just using tokens on eth, but I'm unclear if there's a good reason for this or not.

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