RandoWhale vs Whaleshare - Which One Is More Worthy And Profitable Than The Other - Detailed Review by @PrinceWahaj

in #steemit7 years ago (edited)

So, it's been a while since I noticed the project of RandoWhale and Whaleshares. In the beginning, I was really impressed with the style and moto that all people will have a chance to get more visibility. But as time passed, we witnessed a massive change in their profitability, even before and after the hard-fork.

Review

It's been a controversial topic among minnows and they really question themselves, "Which one is more profitable?", that's why, I decided to write my review and honest thoughts considering that we're living in "no censorship" network. Forgive me if my thoughts are against your thoughts!

RandoWhale:


I'd wonder if you say that you're not aware of what is RandoWhale, but if you insist, then here are some details:

RandoWhale was designed to help Steemians in terms of their post visibility and profitability. The procedure to get the help of RandoWhale is pretty straight-forward. You send 2 SBD/Steem to RandoWhale and then you'll receive a random power upvote. In the beginning, it worked out really well because a limited number of people were using it and I don't know if that was scripted but I noticed good percentages of the vote.

Problem:



It's cheap, and some people may argue that 2 SBD is justified for getting a whalevote. But to be honest, you won't even breakeven (in shape of liquid rewards). If you've read the latest changes in the announcement post here. Before hard fork, the randomness of vote used to start from 1% and end to 50% (max, if I remember correct) but after the hard-fork, things are changed.

The problem is, randowhale announced that the randomness of a vote will be 0.1% (minimum) to 1% (maximum) AHH!! It sounds awful! And randowhale also announced that he will stop voting from his primary account temporarily to recharge and meanwhile randowhale1 will vote. But there is a huge difference between the steem power of @randowhale and @randowhale1 . It's like 50% difference in steem power. (But once randowhale recharge gets complete, then randowhale, on his discretion, will start using his primary account again).

RandoWhale's Profitability (Or say losing ratio?):



You spend 2 SBD for 0.1 to 1% vote. I calculated the max possible rewards at 1% voting power through SteemNow (thanks to @penguinpablo ) and this is the result:

enter image description here

Yes, 3.31 SBD is the maximum reward you can expect if you get votes from @randowhale1 . Are you desperate enough to spend 2 liquid SBD to get 3.31 SBD which will be further divided into: Curator Rewards, Author Rewards (which will be split into SP and SBD). After removing curation reward of 20%, you're left with $2.65. Now, this reward will be divided into SP and SBD. This way, you'll take 1.325 SBD to home and 1.325 SBD worth of SP into your SteemPower. (With current exchange rate at bittrex, you'll probably get your spent money back if you cash out)

In terms of liquid reward, you're losing money and guess what? This is the maximum you can ever expect from RandoWhale1 . Now imagine when people start using randowhale1 in an excessive way, its voting power will exhaust and vote worth will become even less.

But hey, @randowhale said that he will switch to his primary account again. So with primary account, it's still profitable. The max vote might worth $6.5 so you'd need an average of 0.5% or less upvote to break-even. Not bad at all!

Cheating:



I've noticed cheating in SteemVoter guild specially. But we can't blame @randowhale . @randowhale started this project for good of minnows and people started to cheat in contests using his service. @randowhale can control this by disabling votes on comment though. No big deal!

Thank You @randowhale:


You've done some great things. You still have our support. If we may suggest, keep 2% as max instead of 1% . It'd be more justified to use randowhale service then. OR raise your price and increase the percentage to 10% etc. Don't make it easier for people to over-use your service. Maybe do it as 20 SBD for random upvote between 4% to 20% . That would be nice.

But overall, we'd like to thank you for your great intention and project. We admire you!

Whaleshare:



Probably you're not aware of Whaleshare. It is a token designed by @officialfuzzy which can be used in two ways and I admire @officialfuzzy efforts into this worthy invention for Steemians which can be really profitable. As I said, Whaleshare can be used in two ways:

  • To get upvote (or downvote) on Steemit post.
  • You can trade on Bitshares for BTS and that way, you can earn a good sum depending on demand.

@officialfuzzy is working selflessly in promoting beyond bitcoin projects and I really admire his efforts and he run contests, hangouts and give his Whaleshare tokens. Through Whaleshare token, you can get the upvote of whales. 1 whaleshare worth 1% upvote, so 100 whaleshare means 100% upvote. And man, after the hard-fork, 100% upvote is the shit load of money.

There is no randomness. You get what you pay for. Randowhale resembles to gambling but Whaleshare is a token which you can keep even for future use or could even sell for BTS and then convert into real cash. @officialfuzzy recently distributed 7350 whaleshares. WOW! Can you imagine? 73 full upvotes. One full upvote worth $300 or something at 100% voting power. See? @officialfuzzy is that generous.

A detailed guide on how to use whaleshares can be found here.

Which one is more useful for Steemit?



Well, this is not personal with @randowhale or something. It was started for a good cause but for the sake of Steemit community, I had to speak and that's what makes this community different from others.

RandoWhale can make Steemit look real bad in the long run. If randowhale could adapt to a few things, it would be great because:

  • When people won't break-even and they'd cry and leave false claims and call Steemit scam as a whole. (Although @randowhale didn't have such intentions)
  • Gambling stuff because of randomness. Religious people won't like it.
  • Less profitable and if voting power is exhausted, then almost not profitable if used with @randowhale1 with current terms. Overall, you might win in your investment if he switch back to @randowhale or increase vote weight ;)
  • Too easy to use his service. Everyone can afford $2 which will burn RandoWhale voting power therefore reward decrease. (Increase in price of vote can solve this issue as I indicated above)

WhaleShare is generally a token which can be used for a lot of things in future. Whaleshare can be the future for Steemit because:

  • It is trade-able. It can be cashed. Right now, 1 Whaleshare token worth 5 BTS. Imagine the worth of 7350 whaleshares now.
  • More whales can join the train. Meaning you'd get a diversity of votes. Right now, you're limited to 1 vote per post by randowhale. If more whales join Whaleshare adventure, that means you'll be able to get more than 1 vote on single post and help it trend well ;)
  • Free giveaways of Whaleshare token by @officialfuzzy . He runs contests and giveaways.
  • If this token is used properly, it can be profitable.
  • It doesn't resemble to gambling.

One thing to note that, Whaleshare on Bitshares open market is not issued by @officialfuzzy . Those are some people trading whaleshare and if you intend to buy whaleshares, then I suggest you contact @officialfuzzy for better insights. But participate more in contests because it's a great way to win some free upvotes/cash.

Conclusion:


RandoWhale is not profitable specially after its current changes. And considering the linear reward curve, you won't benefit much from it. But if you still like @randowhale thing, you're free to use it. Please note that I am not against @randowhale personally, nor I am any representative of whaleshare token. The situation demanded a detailed review of both inventions and I had to give my honest thoughts. I hope that you welcome my thoughts and embrace them.

Sort:  

People tend to abuse of this tools

Awesome post buddy!

Excellent post. However, the power down does not take 104 weeks anymore.

Thanks. After reading your information, I searched here and there, and I found that it takes like 1/13th.

1/13th? Of what, 2 years? It would be more helpful and save users the burden of doing a similar search themselves if you were more explicit. However, you do provide some value in simply saying it's no longer 2 years (original value in whitepaper), so I'm upvoting this comment. Thank you!

Don’t look at SP as cash in 104 weeks. Otherwise I have to agree and thank you for the info. I have been wondering myself, but haven’t really found time to do this investigation of my own. I’m talking though only about the randowhale. This is the first time I hear about whaleshares and I’m definitely gonna check it out :).

I'm glad that you liked it. 1% upvote is a rare scenario as of now. Average you might get is like 0.6 to 0.7% upvote and then voting power exhaustion. Overall, it's a loss of money. I say, invest in SP directly by purchasing it since you get more because SBD price is high on exchanges for now. That way, you'll increase your SP more than randowhale's vote.

Yea you have stated clearly that it’s not worth it. What you didn’t state clearly though is your point of view at SP. This explanation fills the gap of the text I’d say :).

You're right. The @randowhale project was nice in the beginning and still, it's good just like you said it too. Whaleshare seems interesting. Raising price from 2 SBD to 20 SBD is a nice idea man.

Thanks for explaning that.

Coin Marketplace

STEEM 0.17
TRX 0.15
JST 0.028
BTC 62014.91
ETH 2410.27
USDT 1.00
SBD 2.50