17 Comments       7 Reposts       4 QuoteReposts       7 Reposts       24 Likes       52 Diamonds
Comments (work-in-progress)
@mcmarsh - Sep 26, 2023
thanks for your thoughts on this 🤝
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@mossified - Sep 26, 2023
I don't think people fully understand that the current version of CT didn't really exist when BitClout launched.

Much of this current CT culture came when the NFT wave started to become popular and started to attract a new "web3" audience.

Most of it happened post BAYC launch (which actually the early BitClout community was one of the first to ape into, no pun intended).

CT in 2020 was mostly just degenerate yield farming and prior to that, in 2017-2019, it was mostly shitcoins during the ICO era, XRP/Cardano/Bitcoin maxis, and most of the communities actually hung out on Reddit instead.

A lot of people also think BitClout just failed abruptly, but if you actually look at the timelines and charts, I think most of everyone just migrated to Ethereum NFTs because that was the new shiny object, with all of the liquidity that was pumped into it from DeFi summer and VC investment — which then birthed the era of Alt-L1s as Ethereum itself became congested with enormous gas-fees around late summer 2021.

BitClout traffic starts to die around June/July 2021 whereas NFT transactions starts to spike around the same exact time.

BitClouts biggest mistake though was lack of an off-ramp from the beginning and only raising capital in BTC vs BTC & ETH, it would've been a much different story. This has been fixed since then with HeroSwap & Openfund so we don't make that same mistake again.
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@ItsAditya - Sep 26, 2023
i talked with a lot of CT folks recently and learnt that most of them never heard of bitclout.
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@ItsAditya - Sep 26, 2023
more power to you guys. looking forward to bitclout 2.0 💪
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@0xAustin - Sep 27, 2023
Great comparison thanks for sharing!
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@senpai - Sep 26, 2023
TLDR: Fuck bitches, get money
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@ItsAditya - Sep 26, 2023
bro straight up ignored all my blog and took 0xraceralt's tweet as summary 😭 tho, there is not so easy money. As a trader, it's hard to make money on FT as you loose 20% of trade. But welp, i know some folks who have made 1ETH -> 60 ETH within a month with their dedication
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@senpai - Sep 26, 2023
I read the whole thing, it was extremely well written I'm just fucking with you 😂
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@jodybossert - Sep 26, 2023
Thanks for the clear write up! Now I’m full of even more hopium here, as you put it. 😉
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@ItsAditya - Sep 26, 2023
haha
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@Rhynelf - Sep 26, 2023
Great comparison between the two and it helped me get more clarity.

I must say it was much easier to make money on BitClout than FT as a trader. From all the bots front running you, single denomination purchase options, the 20% transaction fee, it’s really hard. The 3,3 movement is interesting for point farming but that is just grasping at hopes of a algorithm and future airdrop token price.
DeSo is much more of a social media with monatomic infrastructure backed into it. Add all the other functionality of NFT’s, Openfund, DeSoDrive, PoS staking and everything else on the roadmap ahead, it’s a no brainer. With the gas fee comparison as well, my bet is still long DeSo.

More DeSohopium please 😜
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@DeSo_News - Sep 26, 2023
Do you know what's FT current DAU, @ItsAditya ?
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@PhilippeTahiti - Sep 26, 2023
Very helpful comparison. Thank you, Aditya !
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@Crowd33 - Sep 26, 2023
Also 10% fees gouged by the founding team forever. Sell it all, today. I'm shorting FT
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@Randhir - Sep 26, 2023
I don't think it's that different from what Nader and co did with the money from early users, faking the 200$ price cap.
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@Crowd33 - Sep 26, 2023
what faking? People bought on the bonding curve and pushed the price to 200. But yes Bitclout was a very easy dump at $200, maybe even more than FT is now
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@Randhir - Sep 26, 2023
I don't think there was a bonding curve that pushed it to 200$. Between March and June 2021 when DESO first launched on Blockchain.com, the price was artificially set by the core team at an artificial 150-165$. The same was trading on P2P markets at 80-125$ during that time which makes it clear that it was indeed artificial because many of the early investors who got it at far below the 80-125$ were willing to sell it at that price. I am not privy to what people bought it at though. Hopefully, someone who got in can confirm what the price was. I did buy my first 500$ at 160$ and my next 4500$ at the 90-110$ P2P market though. https://www.blockchain.com/explorer/assets/deso When I say faking, I am referring to both the artificial floor set at 100$ and then at 80$ to give an impression that there's no way it's going to go down. Also, some of the statements made by the core team (they should all be on the blockchain) hypeing BitClout as going to 1000$, etc. CC: @SeanSlater
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@Crowd33 - Sep 26, 2023
There's nothing unethical about putting in a large buy order at a specific price, if people interpreted it as the price can't go down that's their fault.
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@SeanSlater - Sep 26, 2023
There was certainly an artifical floor at $100 for much longer than it should have been.
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@Randhir - Sep 26, 2023
The floor was probably set because they sold most of their holdings at 140-160$ and they just bought it back at the 80-100$ floor. Just a hypothesis of course. Or maybe they really believed a temporary floor and then people will start buying again. We'll never know which.
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@HiveDeso - Sep 26, 2023
@ItsAditya brother What your opinion about post.tech
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@HiveDeso - Sep 26, 2023
No it's not a copy of FT, FT have nothing more then buying and selling of keys based on users Twitter profile But post.tech have much more then that Who cares about the founder, are you know who is the founder of friend.tech?
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@ItsAditya - Sep 26, 2023
it is a copy. the smart contract is pure rip off. frontend is cloned from random github repo. yes the founders of friendtech are known and well respected in the industry. @0xraceralt (on twitter) is the actual guy behind FT
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@jodybossert - Sep 26, 2023
That’s the dude that wrote that profane, sexist tweet you shared? I’m not sure he’s totally respected then. Hasn’t earned mine. I appreciate what he’s saying, but there are a million better ways he could’ve said it.
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@ItsAditya - Sep 26, 2023
yeah for sure that could have been written in many other ways but it's more of a dirty metaphor. I am going to remove that phrase form the screenshot. Founders are crazy people. Have you ever read @nader's internal docs to team when he was researching about DAOs? 😂 (@mossified knowns the wording lol) With 'respect' i meant, he is well known by CT (which is enough for people to go all in).
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@ItsAditya - Sep 26, 2023
updated that tweet screenshot. meant no disrespect to anyone 💓
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@jodybossert - Sep 26, 2023
Haha, I didn't mean you had to update the screenshot. They're his words, not yours. I was more making what is surely a boomer statement (though I'm Gen X) by saying that if Web3 is the future and the future is driven by people who aren't afraid to let their degen flag fly, then it concerns me for our future. Professionalism is a big deal to me. Now that said, there's a big difference between public professionalism and internal professionalism. I have no problem with @nader getting a little edgy behind the scenes. I have one hell of a potty mouth, but I don't post to the public with it. Those are special words I reserve for friends. 😉 I typically follow the mindset that my grandma might see this and post accordingly. Of course, she's not on DeSo so I'm maybe a little edgier here, but my posts are also on the blockchain so what we say here is essentially defining our legacy for future generations. And yes, sometimes I totally overthink things. 🤣
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@ItsAditya - Sep 27, 2023
Right ✅ But i am the one spreading his words so i take the responsibility to make it not offending
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@ItsAditya - Sep 26, 2023
lame copy of FT. Unknown founders. fishy messaging
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