You might be asking “What is Bitclout?” and “Why do I need an Onboarding Guide?”
It is probably best to start with what Bitclout it. And then we will get into the other details.
What Is Bitclout
BitClout is a social network built using open-sourced blockchain technology. BitClout is also the native currency you use on the social media platform to complete transactions and support other creators. The main way to support the creators, that you believe in (or would like to succeed) is by purchasing their Creator Coins.
Creator Coins are an important and unique concept that Bitclout has implemented. Each creator has a coin associated with their individual profile. The coin value is usually shown in USD unless you are using other 3rd party tools, such as Bitclout.plus (a chrome extension, created by a Bitclout user @paulburke)
This is the monetary value of the account’s Creator Coin. Any user can purchase or sell, using the $clout Native currency, these creator coins (that includes your own coins). Bitcloutpulse, over at bitcloutpulse.com says “The value of a profile’s coin generally follows the law of supply and demand” which is true in the most simple of terms.
There are other things that determine the value of the creator coins as well. They use a bonding curve. In essence, that means that the more coins purchased, the price of the coin increases exponentially. But let’s put it this way, we don’t have to understand how gas is made to put it in our vehicles right?
But if you would like to gain a deeper understanding of how the technicalities work anyone is welcome to check out the documentation page that has been made available by the platform’s founders and development team. It’s all open sourced baby!
Bitclout As A Social Media Platfrom
Bitclout has a very similar look and feels a lot like Twitter and kind of like Facebook. You can like and comment of posts, make your own posts, and engage with the community. It seems that the whole platform has really blossomed from a place of collaboration and co-creation.
There are some major differences between Bitclout and other social media platforms. There is the native currency of course. Every action requires a small amount of this native currency to be completed. And every action is on-chain. Merging blockchain technology with social media to encourage transparency and introspection before taking any action.
There are several way that one can gain the native currency. The most exciting one as of late is on Blockchain.com/clout-btc or Blockchain.com/clout-usd. $clout can still be purchased directly from the platform with BTC, USD, CAD, etc as well at the moment. There are sure to be more exchanges coming like Coinbase in the future.
set up an account?
When anyone signs up for a BitClout account, they’ll be presented with several options. This will be your choice of how to proceed of course. Personally, I prefer the seed phrase option.
The seed phrase is a unique string of 12 words that gives you access to the BitClout wallet. If you lose this string of words, there is no way of recovering the wallet. So make sure that it is saved and secure. A hard copy, written down, is a sure-fire way of keeping it safe. Assuming you don’t hide it somewhere and forget.
You’ll then be prompted to enter this phrase to gain access to the wallet. Don’t go to this step until your key phrase is secure.
Log in with Google.
If you went with this option it’s safe to assume that you are more familiar and more comfortable with this option. But be sure to use an account that you are not likely to forget the login creditials
Your public key.
This is what is called the public key. It’s your unique identification on-chain. All transactions will be associated with the key. It can be used to analyze your account performance on tools like BitClout Pulse, @bitcloutsignal, and ProsperClout. These are some amazing tools created by people in the Bitclout community.
For more resources.
Make Sure that you stay up to date on more resources that we will be sharing or have already shared by checking out the blog here bitcloutonboarder.com/resources