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For The Reddit Scrappers

wannabescrapperPosted for Everyone to comment on, 2 months ago4 min read

This is for the Redditors in the ScrapMetal sub that I frequent. I was going to post this in the sub as a Reddit post but things get buried there so fast that I thought I would write it out here and then just share it there. It will also help to point out what I am trying to explain, plus if anyone on Whaleshares has anything to add, correct, detract, they can do so in the comments.


Whaleshares is a site that runs on the Whaleshares blockchain. A blockchain that produces a block every three seconds. The blockchain mints a cryptocurrency called WLS with each block. It is absolutely free to sign up, post, and transfer funds onchain.
Whaleshares is decentralized and people can set up witness servers that help keep the blockchain going. Witnesses earn WLS for running their witness server whenever they produce a block. If you are in the top 20 witnesses, you will produce a block about every minute.

The site itself is an uncensored social media/blogging platform that you can post on or just read other people's content. You can earn tips in WLS from other users when they want to reward your content. You can also earn WLS from staking WLS and collecting the daily stake reward. When you log in each day, you just collect your reward to either your tip jar, stake, or both.

If you have liquid WLS you can send it to the Ionomy exchange and trade it for Bitcoin which you can then trade for whatever other currency you like or just send it to your bank if you have the capabilities to do so. Or you can keep it in your wallet and use it for tipping others whose content you like. It is free to send out to Ionomy but there is a fee for bringing WLS onto the chain.

What I like about Whaleshares and Reddit

As anyone has seen, Reddit on mobile is a pain in the ass for making a post with photos. With Whaleshares, I can make the post with the photos in it and then can share that to Reddit and you aren't stuck with a very long title and whatever captions you can get on each photo. You can also get rewarded for your post by the @scrapandsalvage pod if you are a member.

What people should know about before joining

Whaleshares is free but if you don't know anything about crypto, it can be a little bit crazy. Because you are dealing with tradeable currency, you need to have a wallet which comes with a set of complex keys that you need to keep safe and secure so nobody can steal your funds. It is imperative that you do not lose your keys as there is no way for you to get them back. The system does not have a way to retrieve your keys, for obvious reasons. Back that shit up somewhere.
What I do is keep a txt file with all of my keys on it and every few months I print it off and keep it in the fire safe. That way, if my computer gets fried and I lose everything, I still have the ability to type in thousands of letters and numbers to retrieve my funds. You do you though.

You can check out https://whaleshares.io/ and set up an account on your own or you can contact me, BirdyTheBirdman on Reddit and I can help you out in creating one. Either way you go, let me know if you create an account and I will put a few tokens in your stake so you can make a post. It's free to use but when you start with nothing there are limitations to the amount of bandwidth you are allowed. The more WLS you have staked, the more words you can use and the more transactions you can make. After you make one post about scrapping though, you will be good.

Check out this post for more info.

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