Is Whaleshares dead?
I've not used the platform for a little while. Truth is that it didn't feel right to be reposting the same stuff on steem and there, but today I went to check on the price of the WLS token and wow. How are they paying the bills?
Serious question, I'm don't want anyone to think I'm happy about this or anything, quite the opposite. I don't know what has happened, but it seems like if the token has plummeted to a ridiculously low valuation. Not that long ago 1 WLS was selling for 1 BTS, or close to it. But buy orders don't surpass 0.14 BTS, which is 0.008 dollars, not even a penny.
I sincerely hope the project makes it, they've put a lot of work and the witnesses on WLS that i've had the pleasure to talk to genuinely care. But, at least right now, I don't know how they are going to make it out of the hole. With these prices, the amount of WLS that need to be sold to pay for servers has to be above 6000 tokens or so.
Along the same lines, I checked on weku just the other day. They token is practically worthless at this point, and I would not be surprised if the website goes offline all of the sudden. But, back to WLS, does anybody know what's going on? I almost want to ask there, but I don't want to be impolite.
MenO
Most of these forked projects will fail, and maybe some will recover their communities by coming back to Steem and do a similar thing as PAL does: launch a Nitrous layer with a dedicated Scot token. As far as I can see right now Steemians love the idea of having communities on Steem - and I always wondered if WLS shouldn't have been an SMT (not blaming them for not wanting to wait any longer on those being deployed though :D) as WLS was 'born' on Steem.
From what I've seen from peeking on the platform from time to time there's been quite a bit of fighting going on, some 'camps' forming in the community, also a new Hardfork a week or so ago that might or might not work out: maybe some people will leave because of it as most come from Steem and are used to this way of doing things, but also some other people might find it's exactly what they're looking for and sign up because of it.
There's less focus on 'trending' posts and such, and more on forming groups and 'befriending' people - don't know how that will work out, from my first impression engagement lowered significantly but that might be because people have to get used to the changes.
Wow, I had no clue they went thru a fork.. goes to show how disconnected I am from WLS news.
HF was not even mentioned on their official account 😂
Still isn't. If one for one witness, nobody else would know.
Well they sold the place as an escape from bidbots, but the lie detector test determined that was bullshit. Largely why I'm powering down and exiting.
I warned in the beginning that a nerfed flagging will lead to no viable way to counter abuse, which has been going on largely unchecked, essentially the community turning a blind eye to it and now the majority is in complete denial about the blatant vote selling going on. They have a bunch of features but they removed flagging, like the fastest car, but no breaks.
They have bidbots with extra steps. More fees with BTS or now, EOS.
It's not 'bidding' but yes, let's just call it vote selling.
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What I think happened is that when @freedomexists started selling his votes for bts he basically undercut the demand for WLS, especially when one bts's worth of his vote would generally be half the price of the comparable ammount of WLS. I warned them that this was going to happen, I mean it very consequential that undercutting the demand for WLS with his vote selling would lead to at least a major 100% correction. What had happened is that there's so much vote selling going on from a lot of the whales there that it completely crashed the market, so much supply, the demand has largely been nonexistent, now it's like selling sand at the beach.
They also have removed the option to flag, at least from the front end.
Meanwhile I'm seriously considering making a bot that spams the most obscene comments under all the topics there and self voting.
Don't do it to much I want to sell my stash as well lol
Let's hold them for ransom, extort all the newbs there.
Not alot of smart ones
Is RUDEX for WLS back up?
Well that makes absolutely no sense... wow...
Lol it's so hilarious, @freedomexists was saying stuff like "you say stuff that almost makes sense but you're a troll" or something like that to me when I confronted the retarded man child (he literally gets defensive over the mildest criticism and lashes out and attacks the other person, I've witnessed this happening more than a handful of times with a handful or more people) and idiots like @erodedthoughts were all like "I know I can trust you to do the right thing" to the retard, and at the same time avoiding with ferocity acknowledging that first it's vote selling and that second it would compete with wls demand directly in the same thread when I called him out on his encouragements, literally idiots through and through, defending a full grown man to sell his votes in spite of the fact that the place was created, from what I understand, because of the vote selling on here, and it seems that basic common sense evades them, first economic common sense, and then socially, as they nerfed flagging, and now outright removed it, and I'm sure that 99% of people there are oblivious to that since flagging was so heavily discouraged to begin with.
You are not known for mincing your words, but your critique is 100% valid. I don't think anyone who deals in honesty would find that "business model" sound. As you said, it literally undercuts demand for the token.
What's literally happening is that he is "cashing out" so to speak, and he's doing so without having to wait for the powerdowns, which is literally against the tokenomics. In other words, he's supposed to forgo a portion of his votes, in the way of opportunity cost, but he's circumvented the system altogether and thus created hyperinflation so to speak.
He must be done with the platform at this point, and it's just attempting to unload his bag as quick as he possibly can.
Precisely, which is why his last "post" is a "wtf happened" trying to act as if he had absolutely nothing to do with it, no responsibility whatsoever, and ever since then, he's been spamming trending with an text image that reads "account preservation post", which I would symbolically /gestural flag, and now, can't even express that gesture lol. His last post was literally "and I didn't even power down", like his business model could work at all if he powered down or as if what he was doing wasn't exponentially more devastating than powering down and selling.
I don't know how much he can sell at this point lol, and it's not his fault entirely, the fault lies with ever single douchebag there that either encouraged him, is also vote selling for bts, or both, he's just their mascot as far as I'm concerned.
You should look at his blog just for kicks..
Were you behind the @fiasteem shit on there?
No, and I'm not serious, I'd rather watch it burn but I won't enjoy it or add to it's misery.
Have they?
the've done some blockchain coding, even did a hard fork recently. So, it's fair to say they've put in work... now if the code is good or not, thats a whole different story.
It's not even public.
thanks for your special #comment @inertia
Really? I haven't checked the price this whole year. I just use them as they say they are a sharing platform. LOL
Baah basically explained a possibility of how this happened.. and it makes perfect sense.
A knockoff didn't work out? Whodathunkit.
Whoa...just a couple of weeks ago someone asked me to check it out and it's dead before i got down to it.
An interesting review @meno and I am also surprised by such a fall in the price of WLS, I hope the developers will equalize the situation on the platform!
There is certainly limited engagement there from my experience although there are quite a few good people working behind the scenes there I think. . Palnet will make it even harder for them to attract new users. Interesting to see how they end up
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I think all these projects rely on Steemians to use them and don't attract additional outside users. Steemians are already spread thin on Steem with so many dApps here, so sometimes it's just a time issue.
The same for Voice by the way. They are relying heavily on Steemians coming over there to kick start things.
I have been following the Whale Shares price pegged against the dollar for months and it never moves. Haven't though about checking it against other cryptos.
I only cross posted once there, and didn't get a sniff. Lost interest after that. This place consumes too much of my time already. I don't have the time for two.
To me, whaleshares was just a community of people who either just didn't like Steem, or weren't successful on Steem. Its a shame really. If everyone would've just stuck it out they could've created a community on top of Steem like pal. I was never a fan of them splitting off and creating thier own chain. I tried it, but like you said i felt wrong just double posting content. I hope those folks find thier way back to steem eventually....
#thanks for your excellent post . keep it up . good luck
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Now with the steem engine and nitrous, whaleshares and other copies like it are basically useless, I think. What they should do is just import over here.