Randowhale experiment resulted in profit and anger
I finally tried out the service after constantly being confronted with it for the past few weeks and the results are way better (and therefore worse) than i actually thought!
The results
I used the service 3 times. I rolled 34%, 36% and 8% when the voting power of @randowhale was at ~33%. My posts immediately gained approximately $15, $9 and $6 just from that 1 vote! Even though i don't understand exactly how the posts gained those amounts, i made an average profit of over 400% of my investment!
Conclusion
Not only can ANYONE make an immediate profit (with over 90% certainty) by using the Randowhale service, the STEEM reward pool will get distributed even more unequally! Everyone can upload any content with any kind of value (quality) and make a profit with it. And since we all know what happens when people can make money, they are certainly going to abuse the system!
I'm currently against all initiatives, software and platforms which allow content to get way over- or undervalued. Randowhale is no exception. Even though the idea might be to be generous to new users (and i have admiration for SteemIt related initiatives and software) it's accomplishing the opposite. Everyone can already be generous to new users, we don't need services like this to make the platform worse.
P.S.: I can't promise i won't be a hypocrite (although i think i can relatively objectively assess the quality of my content). If there is a chance for a win-win situation i should take it. So i might or might not use the service in the future, we'll see how i think about it in the future. First we have to deal with the major changes of HF19 anyway!
Don't forget to follow, resteem and browse my channel for more information!
What is this randowhale and why is he like bigfoot to me? Been here a week and haven't seen him.
You've been upvoted and followed.
A lot of people are buying upvotes atm. And more so during these down times. It is not a totally useless strategy, but should it be done right now when the SP is so low and the reward pools are so drained?
There is a huge discussion on this thread. Come and give your point of view :)
https://steemit.com/steemit/@yoda1917/randowhale-booster-worldclassplayer-users-just-halt-for-a-moment
LOL yeah heard of this but this is the first time I really saw any information on it. May have to check it out in the future. Sounds like it could be an issue for abuse like you said though. Thanks for posting.
I tried it 3 times, didn't pay off for me. But, I also don't have 500+ followers like you. The concept seems to work, but it's not minnow friendly.
The followers don't matter, 1 vote made me INSTANT profit. Nobody voted after it happened.
Ohh gotcha. Maybe I just had bad luck on the rolls.
Doubt it, my 8% roll still made $6 with $2 investment. I don't know, maybe STEEM and/or SBD lost a lot of value in the 7 weeks after you did it? Maybe the voting power of randowhale was (far) under 10%? Could be number of things.
My account is only 6 days old...so it can't be that! The 4% roll got me 60 cents, 18% and roll got me 2.03 (also included other upvotes), and 34% got me about $4 (but was at below $2 at time of randowhale vote). Does age of account play into it?
I don't know why these numbers are so random. At least your 34% roll gave you a direct profit...
You're expected to roll 25% on average i believe so on average you will profit.
The main things that influence it is changes in STEEM/SBD prize on the market and currently voting power of the randomwhale account (voting power can be seen on http://www.steemd.com/@randowhale in the 17th row of the table on the left).
Yeah, with the $1.50 SBD price, I lost on all 3. Even the 34% roll didn't get me $4...it got me somewhere around $2....the other $2 came from future upvotes from other steemians.
I don't know, it might be because of the exponential rewards that are still in place. Tomorrow it will be linear so people with millions of dollars don't have 1000s of times more influence than they should.
It's hard to get people's attention especially if you are new here, but I like to do things old fashioned way, without self promotion which is something that I really don't like these days. Tendency of "screaming" "look at me I'm the best" is trend which everyone uses because people are to lazy to click on post and actually read what others have to say. This platform is money driven and that is a good thing but also it's biggest flaw. Anything that includes word Whale gets attention because minions like money, don't they 😉
Me too, it's a pride thing i guess ;)
Yeah money ruins everything, unless the system is waterproof. And yeah the psychology of people is really interesting regarding whales. A lot of people have zero pride and only care about quantity (money) rather than quality.
A lot of people are buying upvotes atm. And more so during these down times. It is not a totally useless strategy, but should it be done right now when the SP is so low and the reward pools are so drained?
There is a huge discussion on this thread. Come and give your point of view :)
https://steemit.com/steemit/@yoda1917/randowhale-booster-worldclassplayer-users-just-halt-for-a-moment
I agree, as it does give decent payouts, it could make people use it for crap posts. Although another high powered curator voting after randowhale is what is needed to get real nice payouts, so at least that is something. Have yet to try it, but have seen it around!
A lot of people are buying upvotes atm. And more so during these down times. It is not a totally useless strategy, but should it be done right now when the SP is so low and the reward pools are so drained?
There is a huge discussion on this thread. Come and give your point of view :)
https://steemit.com/steemit/@yoda1917/randowhale-booster-worldclassplayer-users-just-halt-for-a-moment
I don't understand this randowhale thing. how do I use it? What is it?
Don't be so lazy and go look in @randowhale or Google ;)
thank you. Just so you know I haven't been "lazy" most of the things I've tried to google about steemit come up with old information. When I googled randowhale it said be careful it could be a scam.
Everything that has to do with money is a scam according to some people :p
Pretty ironic that their money is currently invested in the biggest Ponzi scheme on earth: fiat currencies.
There's going to be corruption and "back room" dealings as some would call it in any forum where money and power are involved. Unfortunately, its going to happen I just hope it doesn't get out of control.
The SteemIt devs should just implement systems that prevent this behavior.
I agree. Right now it reminds me of black Friday shopping. Yes, you can go out and quite possibly find the greatest deals of the year but you may also get trampled, attacked or killed in the process.
Lol, sort of :p
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