Whaleshares.io Vs Steemit

Hey you, welcome back to the channel. And guys, today we want to talk about Steemit versus WealthShares, or WealthShares versus Steemit. And so, um, you know, we, many of us in the cryptocurrency space know what Steemit is. Steemit was this social network, first of its kind. We had never seen anything quite like this. It did very well, um, and as it grew larger, it did start to have some setbacks, suffer some difficulties that at the present time they're trying to work out. But Steemit never really had any other great options close to it and never had any real competition as far as I could see over the cryptocurrency space. And interesting enough, WealthShares is modeled very similar to Steemit But I think it would be inaccurate for me to suggest that WealthShares is a competitor to Steemit or that they're trying to be. On the contrary, I would, I would more so think at this point from the community over the course of my week here, uh, that WealthShares kind of sees itself as a companion, uh, to Steemit. And so this is very interesting. So what we want to do today is compare some of the differences, some some of the pros and cons of WhaleShares in comparison to Steemit and see what we can come up with. So let's first start with some of the pros about what I'm finding with WhaleShares, what I think is gonna be good about WhaleShares in comparison to Steemit. Well, I think the first good thing about WhaleShares is it does capture the very early days of Steemit. I didn't arrive on Steemit until its second year, so I missed the first year, but I've always was curious about it having over— only under 5,000 people and what that must have been like. And so WealthShares, I think it only has 2,500 people, so it kind of, I think, gets me as close as possible to that. Also, when you're dealing with a very small community, it seems a lot more close-knit, a lot more intimate, A lot more attentive people are interacting more because, you know, it's less people. So it's a good chance you're going to be able to interact with some people. So I think that's a good thing. Also, as you can kind of see, as I'm getting upvotes on some of my posts and it's just my first week, you know, some of the upvotes are fairly high, pretty good. And so, you know, and I got some all over the place. Here's one, and I think somebody upvoted me like $80 or something. And I think they were saying like the whale shares were something like about 70 cents to a dollar. So there, you know, these things are pretty high, you know, what, not quite like the first day of Steemit where you, you know, we're probably the cost of these STEAM tokens were a great deal higher. And that is because another good thing I think Wealthshare does well is it has a very small supply. I'm just like, I just like small supplies, right? So I think they only have like, uh, is it 21 million? Uh, I think it's only 21 million. So they have a very small supply and that gives more value to their token. So there's some great things about, uh, Wealthshares that I think you know, will definitely work to its advantage, especially if you're a new person coming into the, into these social network type spaces. If you come over to WellShares, it's probably, probably going to be more likely that people see your content, they upvote it, you're able to interact with them, probably going to happen. Faster than it probably will happen on Steemit at this point in time. So these are some of the great things about WhaleShares that I'm seeing as I've been here this week that I like about WhaleShares. So let's talk a little bit about that in comparison to what you got in Steemit and what are some of the differences. What does WhaleShares have, or rather what doesn't it have that Steemit has in various things? Well, WellShares doesn't have delegation like Steemit. So these are some differences as well. Now delegation seems to be a pretty big topic around the WellShares community. I think their entire idea is focused on the individual relationships minus the money portion. And it was always my opinion in the very beginning of Steemit One of its biggest marketing campaigns was to tell you you can make money from your blogs and seem like WellShares is kind of seeing a mistake in that. They're going off in a different direction. So looks like they want to get rid of many of these monetary structures that existed in Steemit, like the delegation. They don't want any of the upvote bots that are running, running amok on Steemit. They want the personal relationships. And that's very interesting because on Steemit, you just have these bots voting on everybody across, you know, and they're not even interacting. They're bots just going to town. They can have their bots upvote your post before they read them or see them, and they can just automatically have it upvote. And so what that doesn't create a very healthy relationships across social networks, which is, you know, supposed to be their purposes. So I can definitely understand that point and see it as an advantage to a great degree. Agree. Uh, now the negative side of that, when you go back to delegations, whereas this very business-structured idea that exists on Steemit, whereas, whereas it's true that it could have hurt relationships a great deal more than maybe they had expected, delegations also were able to offer opportunities for people to do everything from funding projects to helping the distribution of value across the network. As to say, if you were a person on Steemit who was a whale, who was very busy, maybe you're just an investor, you could just as well delegate that Steem to a person you trusted to now be able to distribute this money for you across the network. Much like in real life, if I were a had a trust or I had something like that and I wanted to do good, or I had a foundation, I would be able to distribute that over to someone to use in my stead, to use. And so WealthShares doesn't have that, and some of the community may or may not like that, may find issue with that. As money isn't a large part of the idea behind WealthShares and community, their power-down structure, the payments for these pools are greatly delayed. Um, to fully get all your money, it could take over a year now, and I think you can only get like 50% of it. So this, I think, will be a great— would be looked at as a great disadvantage of people, especially if they're looking to grow very large and people are looking to take a considerable amount of money out or invest a considerable amount of money in. And the problem with that is it may discourage people from investing a large sum of money in, uh, based on the fact that it's going to be locked up. Uh, and so that can be a bit discouraging. Now Steemit was able to do it earlier on, so it's possible WhaleShares could have as much success as Steemit had, but the only issue is Where it's a bit more unfortunate for WellShares, Steemit is in existence with that option at the same time as WellShares, whereas prior to that, Steemit didn't have any other— anyone to compare it to or any other option but them. So you could either kind of take it or leave it, but now people will have the option just to either stay on Steemit or just go over to Steemit. Um, let's see, what else could I say about WealthShares, um, that I— that probably could be looked at as a disadvantage because it does— or different from Steemit. Um, well, this is more going back to the good side. WealthShares doesn't have a reputation score. Now you can downvote people, however, it costs 3 times more And so people are going to be a lot less likely to just get into these downvote wars. Unfortunately, on Steemit, it had just become a circus. People were playing games, downvote games, and, you know, it was just ridiculous. And people would up and leave Steemit. They don't want anything to do with it, which didn't make for a very well social network or business model in that regard. Now that being said, and these being very good things about, uh, WellShares, at the end of the day, WellShares still kind of models more after a companion part, a S, like the Smart Media Token idea that Steemit had, where it pretty much works alongside it, but it's not on the same blockchain. So it doesn't help Steemit in that way. However, it is, it is kind of good, I think, or very good that it's on its own blockchain because I think it's important that we be able to have these options and be able to not be affected or controlled by others. In other words, you're kind of probably still locked in going down the same path. Um, now of course the Opposite good things that work for Steemit kind of work against WhaleShares, and that's going back to ideas like, you know, being able to have many options to move, distribute value across the network. Not to mention that Steemit is very well established, that people are probably gonna still leave a large amount of money in Steemit, and And that's probably going to keep Steemit as still the top-level social network. And so WhaleShares, it seems, will operate kind of better as a side community to Steemit in a way. And I think that's part of the plan that Steemit plans to do with its other projects going forward into 2019. And so whereas I do see a lot of promise in WealthShares, I do see early on some good things with WealthShares. I can't help but wonder as WealthShares grows larger and it ends up maybe in a— well, wouldn't necessarily have to end up like Steemit, but, or as large as Steemit, but as it grows, will it become more difficult? Another issue is the verifications. I found in the early WellShares verifications and account registrations were very similar to what you got on Steemit, where people's accounts don't get approved and they have to wait weeks and things like that. And, uh, that can be very discouraging, can turn people off. Um, and I think at this point in time, that would be a very big disadvantage to them in comparison to Steemit. But as it is right now, WealthShares being this much smaller community that just offers an option, I would say for people who've already used Steemit, Steemians who maybe, uh, you know, want another option, um, you know, which many of us do, and that's why many of us went over to WealthShares, um, and I think it's just safe anyway to have that for, for, for those type situations. I, I think WealthShares will do quite fine and work very well. But the fear is— well, I would say my concern is because WheelShares is the closest option to Steemit right now, and I've looked at the other social networks, don't like them quite like how these are set up, with the exception of maybe Weku, and we'll talk about that in my next video. About this, but the problem is then what happens if a lot of people runs over the whale shares, right? But not only a lot of people runs over the whale shares, but a lot of people don't really wanna invest in whale shares due to the long-term power-down structure, right? Like early Steam that they changed. You know, will that present a problem? Will people forget about whale shares over that long period of time? Or will it work exactly like how WheelShares kind of sees it, where they're just focused on the community and building up these relationships with people? And that possibly could happen, but anytime there's money involved, watch out, because when money gets involved in things, it can be problematic sometimes, more so than a solution, especially when it comes to projects of passion. And so I guess in the end it will rely on the strength of the community and the love of the community to see this project through and see it as something that they're really interested in. But I think it will be sustainable and maintain itself to a certain degree. And so I definitely like WhaleShares at this point in time. I'm going to stick with it. I'm going to keep posting on it. Tell me guys what you think about WhaleShares versus Steemit. Do you still like Steemit better? Do you still see yourself posting on Steemit more so often? What I'm finding again, guys, is it's not so much as a compare versus a WhaleShares versus Steemit type situation. I think it's more so now a situation of a time versus time concept. And to, you know, to explain what I mean by that, Statistics suggest that we only have about 5 minutes per social media interaction platform. And if now the idea is I'm posting over on Steemit, I'm posting on WhaleShares, I've essentially doubled that time. If I'm trying to interact over on WhaleShares, but I'm still beholden to Steemit, then I'm, you know, I'm pushing back and forth in time. So does one become more dominant than the other? All interesting things to ponder, but in short, I like WhaleShares. I ship WhaleShares. I'm going to stick with it, see what happens. I think it's going to definitely be a significant social network platform, uh, on the blockchain over the months to come. Guys, you like content like this, don't forget to like, subscribe, and until next time, take care.