The misconception about tipping and voting

in WHALESHARES.IOlast month (edited)

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How earning works on most blockchain platforms

The numbers involved are:

  • the size of the reward pool
  • the total amount of rewards
  • your amount of staked coins
  • the percentage of your voting power
  • the percentage of your vote
  • the moment of voting
  • total number of votes and their amount at payout time

What you earn from curating others or yourself, doesn't depend just on your vote value, but also on when you vote (time passed since the post was published) and who else votes, and how things are at the time of payout. Payout happens x days after publishing.

What you earn from posting, doesn't depend just on how much and when people reward your post with a vote but also on whether or not people use their power to downvote your post and how things are at payout time. Payout happens x days after publishing.

In principle, when you are not active, no posting, no curation, you don't earn.
When you are active, your earnings depend on a lot of factors you have no control over.

How earning works on Whaleshares

The numbers involved are:

  • the size of the reward pool
  • the total amount of staked coins
  • your amount of staked coins

You don't earn from curating. You can however earn without curating.

What you earn from posting, only depends on the tips you receive. Tips are instantly available to you. No one can decrease your received tips by downvoting.

In principle, when you do nothing, no posting, no tipping, you can still earn from your daily reward.

An example

In a simple form, the base for your voting value/daily reward is calculated by:
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Let's say that value is the same for both type of platforms, x TPC (the platform coin)

On other blockchain platforms you have to take action to actually receive rewards based on that amount. You will have to reward others, at the right moment, and pick the right posts, to maximize your returns and with that your earnings. Earnings you will receive after x days.

Add human nature to the mix and you get selfvoters, voting bots, voting circles, downvoters and other trouble on the platform.

On Whaleshares, those x TPC are yours, instantly. You decide whether to add it all to your stake to increase your daily reward, or to add some of it to your Tip Balance to be able to support other users by tipping.

Add human nature to this scenario and you will find confused people, many want to copy the behavior they execute on the other blockchains and notice it doesn't work. With that they claim the tipping system doesn't work.

On Whaleshares there is no need for people who are more focused on investing than on connecting, to post crap just to have an entry to selfvote on, they can simply claim their daily reward and be done for the day.

The Difference

I am not claiming there is no connection between people on other platforms, but there is a difference. When money is the incentive, people tweak the system to get the most out of it. I vote for you, you vote for me, so we can both grab as much from that big invisible rewardpool as we can.

When instead, a daily reward is available to you right away people change their ways. Now the amount to spend is visible, now there is an option to keep it to themselves, now there is no need for scenarios to maximize their earnings, now they find out who their friends are and what kind of a friend they are themselves.

Kitchen table

Whaleshares is a kitchen table to sit down at to talk to friends, and meet new people. Keep that in mind when you visit the platform.

Those who sit down tell their story and leave, are welcome, but won't receive much more support than their daily reward. Those who sit down and talk to others will get more support than they imagined, even if they were never to tell a story of their own.

More than a few people earn more from commenting than from their own posts. That is how much connecting to people is valued on Whaleshares. Community first, blockchain later.

k this is new people actually engage here...
- first time Whaleshares user

First posted on Whaleshares.io

image source

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