You are viewing a single comment's thread from:

RE: Top 10 Cryptocurrency Questions and Answers!

in #bitcoin7 years ago (edited)

Whales have a bad influence on steem?

This is a common misconception that many users have.

You must think of steem as a race between users. Whenever someone is refuelling (powering down) he loses position in the race. Steem is exactly the same.

Why are whales not bad?

Because whales have to stay powered up if they don’t want to lose position in the race, by doing so they contribute to increase the price of steem.

Whales who are powering down are not bad either because they are losing position in the race and will soon be eliminated from the race. They also contribute to increase steem supply on the market thus giving everyone a good opportunity to boost their engine.

Another misconception is that whales are draining the reward pool.

Again, people should stop thinking of the reward pool as a limited thing, the reward pool is potentially unlimited because the price of steem can increase indefinitely.

Whales by staying in the race and not refuelling ( powering down) essentially increase the size of the reward pool by increasing the price of steem thus allowing everyone to earn more.

Whales are either powering down and will be out of the race soon or powering up and increasing the size of the reward pool, so they are definetely not the enemies.

I suggest you check https://steemwhales.com/ to see where you are in the race :)

A few months ago I was a dolphin and now I am a whale because I never refuelled during the race. Many users who were ahead of me have however and are now behind. Everyone who are on steemit today basically have a head start on the race, so they will soon become whales too.

Sort:  

This makes a lot of sense. Thanks for posting that.

Abundant mindset @someonewhoisme.

thanks 4 sharing that.
(upvoted)

I do not think whales are the enemies. I think the problem is that when we post something, it disappears from the front page real fast, making it extremely hard to even get seen. So people start to rely on other methods to build up. However, I don't really know what would be a solution for the "disappear too fast from the frontpage" problem, though.

Soon we will have communities, like reddit so that would solve the problem you mentionned. It's in steem roadmap 2017.

STEEM could replace pretty much every type of social media out there......

@someonewhoisme thank you very much as a whale for upvoting so many of my posts because you have helped me continue giving everything I can to our community here!