Alright listeners. We are back with another episode of below the hotline, where we take in listener calls and the number is four two four two seven two six six four zero four two four two seven two six, four zero two: with any questions that you got
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So, let's jump into it with today's voicemail.
James has been in Texas, been from Texas, what's up? Grew up in Texas God's country even though I defected to California, I love, love love, Texas and Texans. I've been listening for almost almost since the very beginning will say, what is the story on big cloud of? See the, you talk about it. I've seen others talk about it. I can't figure it out by Googling it. Yes.
I've been talking about bit clout for two weeks to people, anyone that will. Listen, I'm so glad you're calling in to ask about it seemed like a company. Seems like an app or some form of token currency. I'll hang up and listen. Thanks. All right, so thank you for the question Ben. And yeah, bit clout. What is bit clout with you? Go to bit cloud.com, you'll see that it looks like it looks like
Like Twitter that is four weeks in like a four-week-old Twitter and then you'll notice some dollar signs all over the place.
that is because it is a Twitter built on cryptocurrency, it's a crypto social network and instead of follower numbers you'll see different price values for four people and and it's because it's a social network built on how much people value, other people's accounts and opinions and speculating that those opinions and accounts are going to be more valuable over time versus accounts based on follower counts and
A bunch of tweets and oftentimes a bunch of noise or Bots following different accounts. Big cloud is if it isn't specifically, it is certainly directionally the future.
And this is a decentralized, you asked, you know, it's not really a company. It's not a company. But there is this decentralized product that no, no one company owns which, which is bit cloud and it's kind of like similar to, to bitcoin the currency. No company, owns it. And yet people can contribute to it that is what will likely happen with big cloud over time as more and more people contribute to it. But long story short, it's four weeks
In to since its launch and it is a crypto social network that allows you to send Bitcoin and is going to sound complex and then I'll get to why this is interesting, but it allows you to send Bitcoin to an account that you create two seconds, it takes no time to create an account. Like you would a create account on any social media platform and then you can sit, you can send Bitcoin to that account.
Using something like coinbase and then it, it becomes bit clout a different currency and then you can invest that in two different created what are called Creator coins or essentially user accounts, you know, if you want to invest in LeBron James, you can invest in LeBron James, but you could also just leave it in bit Cloud thinking that, with, with essentially, this premises you, basically, it's the equivalent of buying shares into Twitter when it was four weeks.
Old. And if you feel like a decentralized social network that is not built on Advertising that's not built on just trying to get as much engagement or some people like to say outrage is possible to get more eyeballs to get more engagement to get more outrage so then it can monetize by serving up ads for you. This is a social network that you can write down thoughts, post photos just like you would on
our social networks but it's not tight around trying to engage as many eyeballs as possible and trying to engage as much of your attention as possible. You could actually just by Bullet clout and leave it as bit Cloud saying. Okay, I'm going to own shares in this ecosystem. Like you would own shares in Twitter, especially non-voting, shares where you just buy shares in a stock because you think it's going to go up or you sell, because you think it's going to go down. Similarly, you can buy shares in this thing that's four weeks.
Old to see whether you, if you believe, it's going to go up. And if you believe people do want an alternative to to current conventional Legacy social networks. Facebook is it's almost 20 years old 17 years old, which is crazy. To say, I hadn't thought about that until a few weeks ago. But I personally think there's going to be an explosion of consumer demand for alternative.
Moves to things like Facebook and Twitter. I think it's been building for a while and for a whole host of different reasons, some people like to point to like Banning accounts and things like that. I think that's yeah, that is interesting and it's that's a nice plus with a decentralized social network. There is no company to ban accounts to get rid of certain people, but I think that's a fringe benefit. I think what's really interesting with a social network built on money and I built
Social network on money for five years. So this is something that I as you can tell, I've been thinking a lot about this recently. The interesting thing about something like bit cloud, is that as a social network Facebook today, has more Engineers working on Advertising products, then it has on Engineers working on, improving the UI, the user interface of the product for you. And I
They have more Engineers working to improve advertising conversion. Essentially, get you and me to spend more time and then spend more money on the platform through the platform and convert into customers to advertisers, then they do. And you, you can see this in the last 10 years, a product hasn't changed much, then they have Engineers working on improving the product experience for us.
Something like Amazon doesn't have that Amazon. The incentives are aligned Amazon, wants to make Amazon better for you, and I so we can find the object we're trying to buy faster. Find the product. We're trying to
You know, to use and our lives, the drill, the, the Scotch tape whatever it is find it faster. They're, they're aligned with us, they do have some advertising, but it's, that's, that's very, very small portion of their business, versus e-commerce Airbnb. Perfectly aligned with us, they want to help you find a great place to stay and all of the engineers are working on helping you find a great place to say as quickly as possible, Facebook or Twitter or Instagram,
It's a little different. Maybe the first phase of the company is making the product really compelling and useful. And then the second phase is, how do we now get people to spend money and and then they realize, okay, well, let's get them on the platform. 47 minutes every day on average, 58 minutes every day on average and it's because their business model puts you at odds with what they generate, the revenue around it, crypto social network, not only
An interesting from the get-go that there is no company that needs to just pave 10,000 employees its I think this will develop like Wikipedia where people are going to be contributing to it for free but also it is something to where they could charge fractions and fractions and fractions of of each transaction. Instead of just like Airbnb or Amazon instead of charging for your time with a bunch of AD inventory that you scroll and you see more and more ads and
Then they realize, oh politics is really engaging. So let's get as much political content as possible and those things are I think I've just made a lot of the Legacy social networks or total trash when you log into total mind virus stuff and bit clout. Maybe it goes that way as a product but at least is showing its showing us a different direction and when I looked at it day one I was like, this is weird confusing. I don't think I get it.
And then by day three, I was like shit. This is the future, so that is bit Cloud. It's yeah, it's not a company but you can buy the token within minutes. Just like you would be buying shares in and Twitter for weeks in, but it also means that it's Twitter for weeks in its it is very very all right. We got a dog barking in background. I think that's my dog window so we'll let him bark and be free but the you know, that the
His kind of goes with what does Twitter look like four weeks in, and do you believe that Twitter is going to be? Did you 2006 think that Twitter is going to be huge? So for many people that is that's a very, very speculative bet. I actually have bought a bunch of big clout because I do think that it's going to be really interesting to watch over the next few years. And like I said, by day three, I was convinced. This is the future.
ER, I rarely write about new products, but I wrote about this one, and it may be saw that on Twitter, but I wrote about this one on my, on my blog. So, I'll put the link in the show notes. If people want to learn more about bit Cloud, it's basically a post with resources to onboard people because I was kind of tired of telling friends individually one-on-one how to get on the platform. So go check that link out if you're interested. Great question, Ben and thanks for being a listener.
Until next time.
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