Finally! A good reason to finally leave for good the WhaleShares platform. XD
For months now I have just been waiting for a good excuse to drop this platform for good ever since I've noticed that the platform is made up of almost 90%+ circle-jerkers (or probably more?! XD).
I have to admit though that the majority of the WLS I have accumulated so far comes from friends and people I know on Steem/Discord. Most of them do not upvote me daily though so I don't think I am part of this circle-jerking thing since the upvotes I'm getting is not guaranteed XD but again, it is indeed a fact that the majority of the WLS I have accumulated (around 6000) comes from friends, So...
Anyways, not sure if you have already heard but I just heard it yesterday that WhaleShares HF4 changes everything in the reward system. From what I heard they have totally remove the reward pool and have replaced it with a "tipping" system.
Now, in order for one to be rewarded for their content someone has to tip them! Out of their personal wallets!! I don't really have a problem with this "tipping" thing if only not for the fact(?) that 90%+ of the people here used to be circle-jerkers. I'm pretty sure that those people would not give free WLS to strangers without them gaining something in return. XD
So Bye WhaleShares! XD
I actually hope they do something like this on Steem. Remove the reward pool and replace it by proof of stake where investors get passive returns and go into a direction more focussed on dapps. This would instantly drop the entire facade and solve all power struggle wars giving more reasons to power up. The entire upvote reward pool upvote system simply doesn't work the way it is intended as it's mostly just one big game for everyone to get as much out of it as possible ( post2mine | upvote4upvote | pretend2care | ...). It has great potential to connect likeminded people in a friendly environment but especially with the new HF21 rules, everything is really messed up.
I never joined whaleshares as the main reason for joining would be just to leech what I can get without anything more. I guess it won't have the real userbase to survive.
Keep it up!
what an awesome way to drive content creators away from the platform.
Oh its doing quite well and yes it does solve some of those issues, it also solves the issues of spamming the chain to upvote your own post with all your friends accounts. Interaction has organically gone up and i invite you to join :) Cheers!
Exactly, removing the reward pool instantly solves the major things that are wrong with this platform. It's also hard to argue against it. If content creators leave it's because they were doing in for the wrong reasons in the first place. There would be also no more reason to pretend or bend your content around subjects just because you know they get the upvotes and the entire facade would be exposed instantly.
The problem I have with whaleshares is that I have a hard time seeing it have any value. At least on Steem there are dapps being developed. I'm also looking to test out publish0x which works with a tipping mechanism.
I agree. I stopped using whaleshares with this HF. In order to make a profit, you have to tip less than you earn. How do they expect that to work out for everybody in the long run given that the primary way of earning is tips? Yes, you also earn based on your stake but unless you stake a lot, it isn't going to make much difference. With no curation rewards, what's your motivation to tip? It's going to take some pretty strong motivation for people to give up their limited daily reward or to keep adding money in order to tip and I just don't see it happening.
The effect of this change would seem to be drastically limiting the number of people who are rewarded. This creates a pretty limited market for that crypto, further driving down the price.
Steem has its problems too but its still the best social media based crypto by far and and getting better, at least in my opinion.
He he he finally. 😊😀 What are you planning to do with your wls?
lol sometimes I even forget that I have an account there.
Good decision.
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