Why The Promotion Feature Matters And Why We Should Improve It (& How)
The promotion feature matters mainly because it burns Steem and increases the value of Steem. The problem is that it isn't useful enough to really encourage people to use it. Steem is inflating annually so the more incentive we give to burn it, the more effectively it will scale.
So it's clear that burning Steem is useful and I've even seen projects where people are just burning Steem for the sake of the value it helps with. BUT, why waste your hard earned Steem and get nothing out of it? I previously found a great project where this individual @nextgen622 proposed @promocurator here: https://steemit.com/steemit/@nextgen622/how-to-make-the-promote-function-on-steemit-popular-again-introducing-promocurator
It was a great concept, but the author refused to really work at the project unless they had at least 3k of delegation so it died because there wasn't enough awareness and no proof of concept that your delegation would do anything. SO I am trying to reboot this project and see if there are any people who would want to try to do this with me or if someone is doing this and you can help point me in their direction to lend a hand.
I really think that bringing back the promotion feature is a great idea and having a really focused curation trail for it would encourage people to burn Steem even if for selfish reasons (and it will still benefit everyone). The difference being that only quality posts would get boosted after being promoted.
Next Steps
I want to see what people think of this and garner some support for the idea, then take it from there. I really think this would be beneficial for everyone. It would improve the native features of Steemit as well as improve the value of Steem so win-win.
I mean just browsing through promoted I can see there are definitely some decent posts here and we should reward people for burning Steem who have quality posts. This is similar to the opposite of bid botting. Instead of earning people's money, we are encouraging they burn theirs making all the Steem more valuable which means whales have more valuable coins and minnows are able to earn more from upvotes!
So for now, this is just a concept similar to what the other author had come up with however if no one is willing to help I will still try to start this project on my own. Let me know what your thoughts are and let's earn and win together!
If this really gets some traction, I will make it an official witness project of mine and really push for this!
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You could maybe do a promoted post bot that spams the promoted posts and offers to help put them in trending for a fee.
I don't want it to be another bid bot though
I like the promotion feature a lot and started using it more. It can be costly though sometimes.
Yeah so if there was a bot that would reward you for doing so, there would be way more motivation to do it! I knew you'd be one of the first to comment haha
Thats a really good idea, it would also increase the incentive to use the promote button and take money away from the bid bots.
Yeah exactly and it wouldn't necessarily even be bad for bid bots, because it improves the value of steem so everyone wins :)
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An interesting sounding project, Scott. What kind of help would you need? Curation of the Promotion Posts?
Yes mostly help with curating and of course any delegations if we get a new account started for it. Also may make a discord for it too where people can directly submit their promoted posts too for a more direct consideration
Well curation is my main thing (only having 23 blog posts) so you can count me in there; provided discord is not a requirement.
There's a lot of promotional services out there how will this one compare to those in terms of return and visibility? I agree with you, the more Steem that is burnt the better.
This is specifically for people who are already using the Steemit promote feature and pushing for more of it. This service will only curate quality posts that have burnt Steem via promoting. We may set a minimum or something and the idea is you aren't just having it entirely burnt because you'll get upvoted. As we grow we can compensate better and encourage more people to utilize promoting. It just adds another reason to do it
So let's say I want to delegate or upvote, what's in it for me asides from just the pleasure of reading more quality posts?
Well if you also promote your posts, you will be get upvoted as well. I guess I should come up with a delegation reward platform. What are your thoughts on percents etc
It's going to have to be around a 20 percent return to remain competitive https://www.minnowbooster.net/market
True. Is there a good way to setup delegative payouts or some service for that?
I'm not too sure but that link above takes a cut or you can just advertise that you want delegation yourself
true, I'll probably use that :)
Unless you mean there are bots etc. specifically to promote promotion posts, if so please point me to some :D
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Promotion is the key to receive value for your posts! Also the hardest part.
Exactly and if we have a bot to help upvote promoted content, it will be more worth it
I'm a minnow and used the promotion feature for the first time just now, with a small amount of SBD on my most recent post.
What would you guys suggest is a good amoung of SBD to invest for promotion at this point?
Noooooooooooo, I wouldn't waste it. Especially as a minnow. This project is the improve promotion, because it's not super useful atm for minnows. It's good to burn steem to improve value and we could make it alot better with this bot. But people with little steem should 100% not use it
Thanks a bunch. I will keep that in mind.
Hey, I just found here via your burnpost comment. I think @promoted had a similar intention until end of last year. This account seems to be connected to fabien, maybe he can tell why it was stopped?
hmmm true. Yeah by some means I intend to get this going