You have my sword. And my bow. And my Axe. And my steem.
A couple of weeks ago, I posed the question "How can a minnow pull his tiny weight?". I used an analogy based on Frodo from The Lord of the Rings. I wanted to help... I just didn't know how. I wanted to help the site grow. I wanted to help encourage new contributors to stick around and to keep going. I want to have motivation to keep writing. I asked the community the following questions:
- What is the best way to help the community?
- How can I "pull my weight"
- Is there a preferred way to allocate the funds in your wallet in order to help the community?
- How much Steem Power does it take for your vote to be worth .01 (at full voting power)?
- How about .02?
- Can you create too much content?
- If I see 50 good things in a day, should I vote for all 50 or does that make the votes meaningless?
- How can we make minnows feel valued?
- Am I asking the right questions?
Thanks to the the thoughtful responses of many community members, it became clear that I was trying to bite off way more than I could chew. I had to accept the fact that I am a minnow who only has a tiny amount of influence. I could continue to post quality content, power up as much steem as I could afford, vote for contributors (and give them .01 and a little rep boost), provide advice, and help newbies on chat. Not bad for a minnow. So I went to work and did all of those things.
Then yesterday, I stumbled across RobinHoodWhale (RHW). This is it. This must be the One Ring! It is an organized way for whales, dolphins and minnows to work together to encourage new contributors and to help the site grow. Here is a link to the post I stumbled onto RHW.
I'm still new to cryptocoin so I immediately went to chat to find one of the leaders of the project. @instructor2121 was kind enough to answer my call to chat. Boy did he live up to his name! He spent 20 minutes answering my questions. I was immediately sold. I finally had a concrete way to "pull my tiny weight" so I put my faith in the team and became an investor.
I linked the full post above, but here is a summary of my Q & A with instructor2121.
Purpose and Method
The goal of the initiative is to create a whale whose main reason for living is to support quality contributors who normally do not get seen by enough community members to earn significant rewards for their work.
If a community member comes across a post that they feel deserves more attention, they can submit it to the RHW team of curators. This team will vet the submission. If they think the post should be included, the RHW will vote for the post.
The plan is for the RHW to pool together enough steem power so that this vote will have enough value to so that the post gets noticed by a significant number of community members of all levels (Whales, Dolphins, Minnows).
Supporters of the project can choose to automatically vote for the posts chosen by the RHW.
The RHW hopes to support more than 20 contributors per day.
No one can be supported more than once in any ten day period.
There is also a return on investment to the investors.
Each month, the RHW will earn "interest" on it's Steem Power.
Every month, the RHW will power down and distribute the proceeds of the power down to the investors and curators (90% split amongst investors 10% to curators... who do a lot of work). Here's an example:
Toal pool is 100,000 (Example only. Hopefully it will be much more.)
You invest 100
Each month, you get .001 of 90% of the power down amount (100/100,000)
Imagine power down is 1000
100 is split amongst the curators
900 is split among the investors
You get .001 of 900 = .90 (each month)
This number can grow each month(because of interest)
This "interest" should be larger than the amount that the RHW will power down every month. So the pool should grow.
I don't see this as a way for me to make money directly. I see it as a way to encourage growth of the community which would mean the value of steem increases. That is where I see the true value of doing this. It helps the community grow and thrive.
If any of this is inaccurate, please let me know ASAP.
Disclaimer (from original RHW post)
Investing in robinhoodwhale (RHW) involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. The bulk of investments will be held as Steem Power.