How BitClout Tricked Thousands Into Issuing ICOs

About this video

The hosts discuss Bitcloud, a platform that has created what amounts to 15,000 ICOs by scraping Twitter and creating accounts for top users without their permission. They analyze how the product is being marketed in a way that obscures its true nature, and explore whether creators and investors should actually participate in these personal token offerings.

Key takeaways

• Bitcloud created 15,000 ICOs without consent by scraping Twitter data for top accounts, then marketed the platform as a way for people to buy into others’ personal tokens
• The hosts note that the platform’s marketing success comes from abstracting away the reality of what personal tokens actually are—betting on someone’s future reputation and popularity
• Before participating as a creator or investor, people should ask themselves whether they’d actually issue or buy an ICO for/from that person if the platform didn’t make it easy—if the answer is no, that’s a red flag

Episode details: published March 29, 2021 · 634 views · 2:29 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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