Free Coin of the Day 2/21/18: Whalesburg Telegram Airdrop, How To Enter for Free Coins
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Today's "free coin" is Whalesburg. Whalesburg describes their offering as "the world's first software bundle for cryptocurrency miners," and they go on to explain the value for a miner, "Auto-switching algorithm will help you mine the most profitable coin."
They recently opened up an airdrop for Telegram users and Twitter users. You can only view the "bounty" information if you have an account and are logged in. Once you are logged in, you can view the bounty information for Twitter at: whalesburg.com/route.
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The Twitter bounty is for 10 stakes and the Telegram "airdrop" is for 20 (WBT). Both are relatively easy to complete for a total 30 WBT (1 ETH = 13,927.5 WBT). Now let's learn a little about the coin.
The Coin
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I like to evaluate the actual use of the coin and if it's needed, or even useful in some cases, before spending a few minutes of my time entering an airdrop. If a company has no use for a coin, they shouldn't be using one.
There is no good information on the website about the actual purpose of the coin, so I had to look for it in the whitepaper. The whitepaper explains it's token as a utility token (meaning not a cryptocurrency) that is used as a "membership ticket" that gives holders cheaper fees, more voting power, and increased support. Holders of the token have a "right to propose changes, discuss them with our executive team, and vote for a feature you want the most."
Maybe it's because I'm not a miner or not very familiar with these types of systems, but I don't feel like the token is needed. Whalesburg could easily accept a small portion or the mined currencies (which they plan on doing as a fee) and base voting power off of activity or overall profits. Also, being heard by an executive team does not really ensure any type of change or actual voting power.
Potential
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My experience with and knowledge on mining is very, very limited. However, with an estimated 500M people mining, making their efforts more effective and increasing their profits has a lot of potential.
The fee ("The pool takes 0,45% - 3% fee") could be problematic and open up opportunities for competitors. I'm also interested to see how their system will work when there are millions using it. The difference in value between mining one cryptocurrency versus another will minimize as miners and equipment become more efficient, meaning the overall value of Whalesburg could decrease.
Also, since the token is purely for utility, it may not have much value for non-miners, so you have to decide if this is worth your time or not. I still felt like this is a really interesting project worth spending a few minutes of my time on.
Airdrop Requirements
To enter the airdrop, visit the Whalesburg.com website and sign up for an account. Join the Whalesburg Telegram account, and fill out this form: https://docs.google.com/forms/d/e/1FAIpQLScmlOqiFLTyntEzyPIV7gjm4Xn0hHWBGAu-aCjufUD3qj42bg/viewform
See the video below for a walkthrough.
Walkthrough
Links
As with all projects, cryptos, and ICOs, make sure you are using the right links and not visiting spam domains created as a scam. Airdrops and bounties give free coins in exchange for trying out a new platform, signing up for a newsletter, etc. These are different from ICOs where you are paying money (sending cryptocurrency) in exchange for coins that will be sent to your wallet once their sale is complete. For an airdrop, you should ONLY provide your public key and not send any coins to anyone. Here are the links for this project and airdrop:
Homepage: https://whalesburg.com/
Airdrop (create an account): https://whalesburg.com/sign_in
Telegram Airdrop Form: https://docs.google.com/forms/d/e/1FAIpQLScmlOqiFLTyntEzyPIV7gjm4Xn0hHWBGAu-aCjufUD3qj42bg/viewform
Whitepaper: https://whalesburg.com/whalesburg-whitepaper.pdf
What Is Free Coin of the Day?
Free Coin of the Day (FCOTD) is a new effort I'm launching to help other amateur cryptocurrency enthusiasts like myself get involved in cryptos without having to spend thousands of dollars. Each day we'll pick one coin to cover, and I'll give you specifics on how to earn that coin for free. Please upvote this post and follow me if you're interested in joining this new effort.
Get More Free Coins
This is the 11th #FCOTD post. I released a little early since tomorrow is Valentine's Day and I want to spend time with the family instead of posting all day. Past free coins that you may or may not still be able to grab include:
What is an Airdrop? Watch My Explanation Below
interesting
already vote vote have @pcste
Thanks Bro
No, thank you!
you're making steemit a great community with your content michaelluchies! keep it up!
Thank you.
Interesting. I have no real knowledge of mining but have poked around a little into information about it. From my minor understanding of it, I feel like the token could actually become quite popular. It sounds to me like it combines the ability of fairly powerful home mining devices with a platform that will automatically detect the most profitable coin to mine. I've heard about this concept before but usually only compatible with smaller mining rigs.
But, like I said, I don't really know. As I can't really mine anything with my old MacBook Air, I doubt I'd ever utilize the platform. But because, why not, I'll probably give the airdrop a go. Thanks as always!
Thanks Herbert! Well, I believe the business could become very valuable, I just don't see how that translates to this token since it's for utility. From my understanding, they aren't using this coin in their actual process of mining.
Ah, I guess I see that. I think I misread a thing or two there. I thought there was a direct relation between the two
There should be, I just can't find the information that really shows that. From what they said it's more for voting like Steem on Steemit, but without a way to really interact with the actual business aspect of it.