BitClout's Unauthorized Profiles

A story about BitClout's controversial launch strategy and early growth tactics.

"The company basically scraped the top 15,000 Twitter accounts and automatically created profiles for them. They automatically issued coins for the top 15,000 creators in the world out of the gate. The value of all those coins is going up right now, and that's exciting and drawing a lot of attention. A lot of people who are early are making money.

But as Steph mentioned, parts of that were actually illegal - they were monetizing someone else's identity without their permission. It was a super smart growth hack, but there are issues with how the platform was seeded. Every platform starts half-baked and it may evolve, but there are problems with the platform as it exists today, including no way to take your money out currently."