I have been on the WhaleShares discord since the beginning and very often (even now sometimes) I read messages of disappointed steemians that bought a lot of WhaleShares or BeyondBits, they used it on their post and after that they were wondering why they got such a small upvote even though they paid a fortune for the tokens.
Even though WhaleShares community can't control what people do with their tokens, we can teach them how to use them properly and that is what this post is all about!
There are so many new people on steemit and they probably don't know about one of the greatest sites, which really can help them to decide if it is a good time to use the tokens (such as HairShares, LFN, WhaleShares, BeyondBits) on their post or not.
You can find the website here https://steemnow.com and it was made by one great steemian called @penguinpablo. I myself call the website "The Hub", because it has everything you need to know about your steemit account and much more!
There are information like:
- how valuable is your upvote
- your voting power
- your daily rewards
- latest upvotes on your posts and comments
- your latest curation rewards
- your latest author rewards
You can also click this little box to calculate your potential upvote that you could have. For example, 1500 steem power, 80% voting power and 75% vote weight with current steem price and reward balance would mean giving 0.15$ upvotes to others.
Now let's say you would like to use BeyondBits on your post. Let's say you actually don't have any BeyondBits, but you already have some BitShares on the exchange, because you transfered some STEEM/SBD there or you used the BlockTrades service.
What you should do first is to check steemnow and voting power of the whale linked to the token. BeyondBits are linked to the @fuzzyvest account and WhaleShares are to @officialfuzzy.
The voting power does not look promising. However, for how much we can buy BeyondBits on the market?
https://bitshares.org/wallet/#/market/BEYONDBIT_BTS
We can see that the price per one BeyondBit is 2,9615 BTS. It is also possible to make a buy order and wait till someone sell BeyondBits to you for a cheaper price, but there is a really small chance that it will even happen.
From the steemnow.com we could see that 5% upvote from the fuzzyvest account is worth 2,33$ and the price for 5 BeyondBits on the market is 14,8075 BTS. How much is that in bitUSD?
It's 2.0257 bitUSD. Even with such a low voting power you would still end in a profit of 0,30$. You also have to keep in mind that those prices were from the "sell orders" side of the market and if you would wait on the "buy orders" side you would make much bigger profit.
As you can see this tool is really important for maximizing profitability. This was just a small example and it maybe does not look like a big deal, but if you would pay for a 100% upvote and you would lose 20 or 30 dollars in value you probably would be pretty dissapointed and we don't want that to happen! By knowing the voting power you can pretty much save yourself from a lot of troubles and actually make some really decent money.
Your motto should be: "Get informed first, use the tokens later!" :)
If you have any questions please feel free to ask me. We would like people to know about these stuffs and honestly for us it is really important to give the message away.
Thank you!
My previous posts:
@eirik/peerplays-is-going-to-be-insane
@eirik/clams-are-rising
