Whaleshares.io (WLS) - Review -Mykos Coin

Hey you all, welcome back to the channel. And guys, today I want to talk about WellShares. We're going to review it a bit here. And so what is WellShares? Well, I believe WellShares had an early history on the Steemit social network, on the Steem blockchain, where you could purchase a token that would, uh, give you the ability to have whales upvote your posts, these high-value posts. You can purchase in these tokens, um, and so, you know, obviously they would upvote your posts, uh, with these tokens and it would give more value to your post. Since then, they have evolved into this seemingly version of Steemit. Of its own kind with its own token. And I'm recognizing many faces from Steemit. And so it's, it's pretty much the same layout, it's the same software. And so people are, you know, able to very easily use it and adapt over, over there. So that's a very good thing. And so far, I like how it looks. It looks very clean. My account, got approved a few days ago, and so I was able to start uploading posts and earning some of these WellShares. And my thoughts are, or what I'm trying to figure out here, is it seemed that there was a verification process seemingly similar to early Steemit where they would verify your accounts. And that makes a lot of sense because obviously they have a voting system them, you get awarded these WheelShares. You get awarded essentially money. And so they want to make sure the accounts are real for security purposes. And so some people I've spoken to about it, their accounts haven't been approved yet, but they, after they go through this process, assume at some point it will be. So what are my thoughts on WheelShare so far? Well, so far I really like the site. Now I'm trying to understand, you know, what exactly WhaleShares is trying to accomplish. Are they just trying to carve out their own niche market? Do they want to be a competitor to many of the other social networks that are emerging on the blockchain? And, you know, it would seem early on Or rather, as of late, that Steemit kind of created— has created this kind of power vacuum, if you will, where there is a great emergence of many social networks now vying to maybe be Steemit. Steemit had, you know, pretty much went uncontested and is probably the greatest social network on the blockchain up until now. Now there are several versions of Steemit-like sites that are growing, growing quickly, that seem to be doing quite well. And so I've— my thoughts have always been competition is a good thing and that it makes the experience better for us as the end user. So those are some great things about WellShares I'm seeing so far. Also, what's awesome that I'm seeing about WellShares is that WellShares has a liquid market already on the BitShares decentralized exchange. And similar sites like Weku, Ono, they at this point in time, although they are very very successful with their execution of these platforms. They're going— some of them are going to create their own blockchains at some point. Weku uses the ERC-20 token. Ono, I believe, is on EOS but will, I think, migrate to its own blockchain. And so in that way, Ono is very unique in how it's built in this approach. However, where they both are not up to par with WhaleShares is that WhaleShares does already have this liquid market on BitShares. And, uh, and so that's a good thing. I think that is a better approach. Let your large communities determine the value of your tokens, um, and, uh, let it self-work itself out. I, I think that would would have been a much better approach. WheelShare seemed to have taken that, and I think so far so good. It looks great. Now, I think what I'm seeing problematic already about WheelShare is— well, first let me say this one last good thing about WheelShare before I go into what I think might be some negative things about WheelShare or could potentially be. But the last good thing I want to say about it was that WealthShares only has, I believe, 21 million tokens, which means— which I think is a great idea because what it does is I think it allows people to operate in a situation where not only their tokens can be more valuable, but I also just think that's a good— it's going to be a good value-wise, um, uh, um circulating supply for whale shares in that it's emerging as the small group out of Steemit. And so I think it makes sense for it to be much smaller in comparison to that. And which is kind of brings me into the bad things I'm going to get about, get into about what I'm seeing with whale shares or what could potentially be. So You know, is WhaleShares going to just be this kind of clubhouse small group, or is it going to be true competition to sites like Steemit, uh, Ono, Tribe, and countless other social media networks on the blockchain that are now kind of vying for a position, uh, somewhere? Um, and, um, you know, what's its end goal? Because because it's so very similar to Steemit, you know, it begs the question, you know, what does it want to do differently from Steemit? Because at this point in time, the only thing I can see that WhaleShares may be offering similar to what I found with the— over with Weku is an opportunity for people who missed out on early Steam It to now be involved in, in this network. Now it does cite some other things like community and more, I think more like a close-knit community, maybe more of a platform that listens to its community, and those are all great things. But you know, at this point in time, to me that doesn't really seem any different than Steam It. Steam It is creating a lot, you know, more ways to address that even from its account creation. To its Oracle project, which will kind of deal with a more efficient distribution of value throughout the network. And so if WealthShares doesn't address many of those issues, I just kind of see it repeating a path like early on Steemit and then finding itself as it grows larger in similar situations to what we're getting with Steemit. So I think that WellShares, although it's starting out quite well, quite fast, it has the advantage of looking at how Steemit started and many of the disadvantages or mistakes that Steemit has made. So it's at this vantage point, you know, I think that would allow it to avoid many mistakes, but at the same time, avoiding those mistakes might mean making needed changes so that it's not so identical comparable to STEAMIT that it just runs itself back into the same situation, right? Uh, and so it all depends on what WhaleShares wants to be. If it, if it just wants to be this smaller group that represents a version of STEAMIT, that's, that's all fine and great. But what I think needs to be looked at is social networks are many times really successful based on its growth rate and how it can grow. That's what Steemit's problem was, that it was trying to grow larger and then it was trying to deal with account creation and in some ways seemingly tried to work out those details and are still working on it, you know, 2 years into this already. And so if WellShare is gonna be just kind of this option for us to have a more smaller, close-knit community, I think WellShares would do great. But if WellShares is going to try to emerge to be a type of competitor like what we might find coming on EOS blockchains where you're dealing with millions upon millions of people, and then I think it's gonna be different going to need to maybe, you know, figure out some different ways for it because at this stage to me it does just look like Steemit, a clubhouse, a smaller clubhouse of Steemit. And, you know, ultimately the end goal, you know, being where does this end up is where I'm a bit confused on WhaleShares. But so far I think it looks great. I think it's gonna offer a lot more options for new people who are coming in, especially those who, uh, are in a more highly competitive social network like Steemit, where they may have a lot less opportunity on Steemit that they can probably get on WhaleShares initially in the beginning. So those are so far my thoughts on WhaleShares. Um, uh, also I think a con is the 14-day waiting period. That might help out whale shares a bit. Maybe that might make it more sustainable and more stable, but I'm not very sure if that's gonna be as popular as what we're getting on many other— many of the other social networks that are keeping it within 7 days, because then that's creating a less vantage point, you know, it's less advantageous and it becomes less competitive to the others. But it looks great so far. Um, the community, uh, like many came over from Steemit, so this is a well, um, put-together community from the jump. Uh, their marketing, it seems very, uh, limited. And again, I'm not exactly sure what WhaleShares angles. As I look through the white paper, it didn't seem to have some grandiose, uh, plan. You know, it seems like to me it's just a place for, uh, people from the Steemit community to go and, uh, that, you know, uh, have a less, uh, positive view of Steemit. And that's all fine. Uh, it's great to have as many options as possible. Um, and I think WhaleShares, in a smaller niche, is going to work quite well. So, uh, let's see here. Now I want to talk a little bit about our involvement with WealthShares, Miko's Coin, and why is Miko's Coin important in this conversation. Well, the reason that Miko's Coin is important now in this conversation, not just relating to WealthShares, but also relating to many social media platforms across blockchain technology that have become popular or are starting to become popular is because, um, in social— in traditional social media websites, a site was started not long ago, uh, by the name of, um, uh, Empire Avenue, which later changed its name to Empire Kred. And what they do is they find value based on social capital-like values and principles of people putting value into social media platforms and then finding a way to measure that value across dozens of social media platforms from Facebook to Twitter, etc. What Miko's Coin's vision was, was to bring this to blockchain technology, only focusing on platforms on the blockchain that dealt with social media, and, and basically being a hub to evaluate your activity across all these social media sites. Um, much like Empire, once that was evaluated based on what you did over there using a blockchain consensus measure that whatever social media site out there was saying the value of your contribution was on their platform, we would agree with their value and issue you Miko's Coin, a token that evaluates all of your activities. Because what's happening at this point, guys, is that there are going to be dozens upon dozens of social media platforms across the blockchain that emerge Some with more advantages than others, some better than others. And in some cases, much like how we now use Facebook, Twitter, YouTube, Reddit, and all of these simultaneously, and we have several we use. That's my view of what's going to happen with social media platforms on the blockchain, that we're going to use several dozen of them, much like I do. I use everything from Weku now to Steemit. WellShares. I will be using, um, uh, Ono. I already have the app download, I just haven't posted yet on there. I use Tribe, uh, and there's going to be countless many others that emerge— Karma— and it's going to become very difficult to manage all of these social media platforms. So what we do is we create this hub where you can visit them from our site. When you visit them Uh, we— there is a way by you, um, uh, showing us you've participated in these social media platforms, and we have various scales every time, from when you upvote one of our polls, uh, to when you view a video, etc. When you do that through our site, you earn one of our tokens that has value entries on the Waves decentralized exchange. So as we become more oversaturated with these social media platforms across the blockchain, which I can assure you that we will, it's already happening. It's already become quite difficult for me to manage all of these. And, uh, on average in our traditional social media, we only spend about 5 minutes on each one. So it's going to become personally difficult or increasingly difficult to engage in many of these we want to. And so that's gonna start to really pull at our times, and we're gonna start to focus on ones we find more important than the others. And so, um, I think Miko's Coin is going to play a very important role and part in that. This is our review of WhaleShares in this episode. Uh, I give it a C+ at this point in time. Um, only because I would have given it a B, but only because from what I can see at this point, it isn't doing a lot more different things than Steemit. You know, Steemit had a severe distribution problem that it hasn't worked out. It's trying to work that out now with oracles, is trying to work that out with something I believe they call these hive communities where they have groups that try to in a more qualified way curate content. But my fear is if you model something directly after Steemit without being— making the necessary changes from the beginning, you're going to run into some of their problems over the course of Steemit that we've seen very quickly. And so that could definitely be a danger and hurt your project. But so far, so good with WhaleShares. And that's why I'll give it a C+. Because I feel it's too close to Steemit, but I think it's made some great moves as far as trading on, being liquid on exchange, being on BitShares, having the legacy of coming over from Steemit and bringing some of that community. So for all of those things, I give it a thumbs up. Guys, if you like content like this, don't forget to like and subscribe. Don't forget to join Miko's Coin so you can get true value from all these social media platforms. And until next time, guys, Take care.