BitClout Day 2: $funtraveller coin now price at $8.53

funtraveller (71)Group Majorin Account Booster 👍 • 3 years ago

After 2 days of actively participating in BitClout, I grew my coin from $0
to an $8.53 worth of bag. At this point, I haven't cash in anything yet into my wallet. In other words, I haven't pump my own token using my own money. As of this morning, my own market cap has reached about $45 but the total USD locked is only about $15, the valuation looks weird and so I'd rather look at the USD locked. That's the amount of money that was put into my coin by me and the other accounts who bought my coin.

So, there are 2 things that literally push the value of my coins to this price:

Diamonds
Founder's Reward

These 2 aspects of Bitclout made this platform really interesting in my opinion.

Diamonds are something that you give or get through a post or a comment in a post. Diamonds are like "TIPS" and here's the USD value of diamonds when given in a single transaction.

1 = 0.01$
2 = 0.05$
3 = 0.5$
4 = 5$
5 = 50$
6 = 500$

Take note, there are accounts that are also giving away $500 tips.

And it's easy to use, giving away 1 diamond requires a single click.

Since I have not deposited any money into the platform yet, my income came from the diamonds that I received through my posts and comments to other posts. I used the diamonds that I received to buy my own token until I accumulated about 1.80 $funtraveller coins.

Here's the thing, I don't want to be holding too many of my coins that I would be the only holder. In that way, I don't feel that it will have a value all to mine.

Here's the fun part, after accumulating a small amount of my coin... I then drop the Founder's Reward from 100% down to 8.88%!

FR at 100% means that I would get all the coins whether I'm the one who purchased them or other users. That's greedy and nobody would want to buy my coin in that case.

FR of let's say 10% would mean that I would take a 10% cut from the purchases of my coin in the form of $CLOUT which is the native coin of BitClout. The other 90% goes to the one who purchases my coin in the form of a $funtraveller coin.

To purchase other users'/creditors ' coins, you would need $CLOUT for this transaction. It's the native coin for the Bitclout platform. You may check on Coingecko for the exchange listing for this coin.

Typically, other users choose to set the FR to 10% but I just to make mine more competitive and brought it down to 8.88%. By doing so, I have garnered some buyers a few moments after I changed my FR settings. I believe that some of the accounts who bought my coin are "bots" and are actively scouting the platform for cheap coins. So, if my coin pump then I could only assume that they will cash out at the moment that it will be profitable for them.

Anyway, that's the strategy that I did to grow my $funtraveller price from $0 to $8.53 token in a short few days.

My goal for the coming weeks is to grow it to $100 worth of the coin.

But first, I have to figure out a reason for other users to buy my coin to that level. That's to offer value in return. More updates soon!