RE: Dear Steem, What Exactly Happens When We Use The Promoted Content Feature? Share Your Experience!!!
What exactly happens when you promote a post on steem?
Your Steem Dollars are transferred to the null account where they are destroyed. This deflationary policy means that the value is redistributed to everybody.
Does it have any real effect and how is its effect explained: If one promotes a post with 10 SD, how much more effect does that have compared to promoting the same post, with 1SD?
The promoted content sections orders posts by how much they have been promoted. Where you end up on the page is the result of a market. The more people wanting to promote their content, the harder it will be to become the top promoted post.
Do whales look in promoted content section?
Yes, I do.
Does a post promoted; give it more authority?
Someone had to pay to get the post promoted, so they must believe it has value.
thank you a lot for the effort you put in replying. but can you please explain the first answer a bit more; about have the steem dollars paid "are transferred to the null account where they are destroyed. This deflationary policy means that the value is redistributed to everybody". i didnt understand it well. and if you used 1 sd opposed to 10 sd, it still depends on how many people promoted their posts or on how much they used to promote their post?
Let's say there are 1000 STEEM and 10 SBD. If you consider SBD as the blockchain's debt, then we have 1% debt. If somebody pays 1 SBD to promote a post, we now have 1000 STEEM and 9 SBD, so we now have 0.9% debt. The benefits of the reduction in debt are shared by everybody.
The promoted ranking is based on the total amount used to promote, not number of people. So 10 SBD by 5 people is more than 5 SBD by one person.
Can you please clarify the last response:
Other than the poster believing the post has value, what good is promoting a post with more than 1 SD (other than the community benefits of destroying the currency as in your first response)? What value is given to the promoted post when promoting with more than 1 SD provide?