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RE: Results From Using 'Promote'
Yes, I tried to promote my latest blogpost today. I put $22.87 worth of SBD into it, and 13 hours later almost, I'm at $9 -- Big net loss.
I did get 50 votes, but it's all minnows. :) I did get 2 whales, but their voting power was so spread out it didn't help much. Especially since they voted really early.
So it can be quite a gamble. I wouldn't recommend you be too aggressive.
thanks for your feedback!
This is pretty much a summary of STEEMIT in general. It may not be zero-sum, but not everyone can win; the money has to come from a loser. Investing time and energy into posting and upvoting may not be profitable (30% or so chance that it is).
Actually, the money increases a certain amount each day, this is simply the distribution scheme. No one has to lose, and everyone who's willing to produce quality, desirable content can get paid.
So, money comes out of thin air? I don't think so. The majority of "compensational" value is locked up in STEEM Power for years at a time, under the assumption that there will be an increase in steemit's userbase.
Someone has to lose, period. Your stake in STEEM increases at a certain rate, not your "money". The distribution scheme does not matter, because STEEM acts as a central banking authority, much like the federal reserve.
Is everyone, who's willing to produce, in the US, rich?
They double the supply of steem dollars annually, read the white paper. Then as a commodity, it is traded for bitcoin, then dollars. The value, as is the case in most financial instruments, is perceived. The same is true of the dollar. We all agree to use it, thus it derives its power.
As long as steem continues to rise, and more users adopt it, the value will increase.
You posted your promoted post in "money" a category that currently has a top boosted post at $110. The more you boost, the higher you rank on the list. Now, the top post hasn't made jack yet either, but if you post into a category with less expensive competition, you might have a better shot.
didn't know that's how it worked! thanks for the info! ^_^
I didn't either until I searched a few posts this afternoon. I found the promote function when I saw it on my own post! LOL if you follow my profile, I'm doing something called #dolphinschool and trying to share all of the valuable tips I find. Love to have you contribute.
i'll be following you~~
great idea on dolphinschool~