BitClout

“I think I would bet that in the long horizon, let's call it 20 years These networks will be built in with, these networks will do this. They will have a currency for the users on the network. And so the users will, the users who contribute to the network will …”

“Diamondapp.com is actually more popular than BitCloud already now. So I think it just passed it, even though it launched like a week ago.”

“But really, like, Sean, you're touching on our strategy, which is, we actually don't want to build any products at all. I didn't even want to launch BitClout, ideally.”

“I think that people don't like when someone gets rich without quote unquote earning it, and I think what people saw is that the insiders, so the people who created it, or maybe the early buyers, they bought so early on the bonding curve, they got so early on, …”

“I'm not saying that this one will work. I think there's still probably a sub five percent chance that this works. And I said, but if it works, the payoff is huge.”

“No, no, that's actually mostly me. So we have a lot of people who are, like, really big names, not just in VC, but also, like, in Hollywood and all that stuff who bought DSO. And they asked me, like, Natter, like, is now the time, like, to really, like, bring …”

“Right now on BitCloud, let's say I have, I think my token, I have like 50,000 dollars of my own token. My current usage of BitCloud is pretty low.”

“This is what the next Twitter, LinkedIn, Facebooks are going to look like in either one or 10 years.”

“It's gotta be a million dollars.”

“They took the top 10,000 Twitter accounts and they had raised, I think, a hundred and fifty million dollars from VCs here in Silicon Valley. And they used it to basically pre-buy and invest in all those accounts.”

“Yeah, you have seven, about 70 coins in circulation today. The market cap is about a 157,000 dollars, more than your personal market cap.”

“Selling coins decreases the price and kind of hurts the value of the coin itself. So the reason to raise outside funding is to give us a path where we can build this full time without like Hurting the value of the coin in the short term so we can like build fo…”

“When you buy the coin, you're not buying stock in the company, right? Those are two separate things. It's like a way to get rewards. So the reason to buy sub cloud coin is not because you get X percent of the company. It's because you get to use the platform, …”

“So, like, the possibility that BitClout will eventually offer a premium newsletter where you can do a long form post to your top X holders of the coin, the possibility that actually is pretty high, I think. Very high.”

“The possibility that they will also say you can access this if you pay 10 dollars a month or if you own the coin is very low. Because they want to bring people into the community. They don't want to give people that option of using fiat currency.”

“Like all of a sudden you're a stock market for private companies who don't disclose any data. And I think like the potential for fraud and the potential for hurting investors more than helping them in the longterm is pretty high there.”

“Like, the SEC isn't going to allow that to happen, at least in America.”

“No, we don't charge fiat for our tool. No, we charge creator coin for our tool.”

“So the first 24 hours I was hooked by the second 24 hours I put a 100,000 dollars into the platform.”

“I would say in the long run, this working in the long run, I think there's like a less than two percent chance this works in the long run. If it does work, my 100,000 dollars is going to be worth tens of millions of dollars, but that's the long run.”

“About a hundred seventy million dollars has been deposited onto this. Most of that is from their institutional backers like Andreessen Horowitz and Sequoia and those other guys.”

“And so when I went to the website without ever having used the damn thing, my account had 55,000 dollars sitting in it.”

“About one 50, I think, last time I looked at it.”

“A deal was announced and investment was announced. Andreessen, Sequoia, myself, and a few others. We did this thing called BitClout.”

“And a bunch of the big name tier one VCs are involved in it.”

“You could transfer money in and you could buy coins, but there's no withdrawals right now. So I can go in and verify. I could claim my 50,000 dollars. What I can't do is put that in my bank account. That's a feature that conveniently is not available and not b…”

“For the top 15,000 influencers on Twitter, it's preloaded into the platform.”

“And so they're going to get a lot of big people to tweet this thing out, which is going to create this like enormous hype cycle.”

“This is designed brilliantly, and this will grow in the way that it's designed.”