About ongoing Steemit content promotion and how much is invested
Promotion feature
Recently Steemit added a possibility to promote content with Steem Dollars. There were multiple and quite complex posts about this but an idea is pretty simple.
- you can send Steems Dollars to support any article (makes sense only for articles not older than 24 hours)
- this article will be shown in promoted filter ordered by paid price (article author doesn't receive any sent SDs but "just" a promotion = better place under "promoted" filter)
Current promotions
So far 4,585 Steem Dollars were paid to promote content. There are two major positive effects:
- content is more visible
- it reduces Steem inflation and Steem price pressure
What's next
I must say I always like how Steem creators are thinking about system sustainability. Although Steem(it) is not perfect yet and it still didn't prove to be mainstream one day, the individual steps seem right so far. Although I'm still waiting for better distribution model (as I've written in my many posts), this seems this might be a small step in a good direction.
But this is mainly a question for people who are hugely using promotion feature. What is your impression? Was your promotion cost worth the outcome? Will you continue to promote your content? And are you using "promoted" filter at all? Please share.
Disclaimer: this article was also promoted :)
Some Hints
- I'm not sure about how effective is to promote content with a small amount, I've promoted this one with 0.01 SD and post is listed on 14th page which makes is quite invisible. So for such a low SD amount promotion effect is almost zero. Still, there can be other people who can promote your content and small fragments of SD can accumulate. But this is just a hypothetical.
- If you really wish to promote your article to make it visible at first page, you need at least 60 SD at this moment. But this always changes and probably this number will go higher as this feature will be used more intensively.
- if you want to make (especially your) post visible, promote it with significant amount of SD. Promoting with insignificant amount of SDs (like 0.01 used for this article) gives you almost zero effect.
it's just pump out money. for whales and minnows is changes nothing .
Whales will vote for the whales. Minnows will vote for whales))))
It adds more possibilities and that's good. Whale can decide support some article this way. Also it can bring Ads (which is not good) but on the other hand can bring more investors and paid content providers and support Steem price and bring new users.
As an opportunity - yes, it's good. But only in theory. Not in practice. Minnow will spend the last penny to promote - but it does not work. Redistribution of coins will not be. And Steemit system will not stronger. 100 people have hold 90% of the entire power system.
https://steemit.com/steemstats/@furion/steem-analysis-ownership-distribution-and-the-whale-selling-pressure.
And only they can change something. And no promotion without result.
Who have read your post with the promotion? This same users as without promotion. The number of readings has not increased.
I don't think so. Look at this. You write some super-content article. Right now only several people will able to see your post and you will receive let's say 1.4$ with 25 upvotes. You have two possibilities:
Featuring is for free but you need to ask some whale and it's not sure if or when he will publish it.
Or you can invest 70 USD and promote your content because you are 100% sure it's best article people have seen.
If you're right and people will like it you will not get 1.4$ but you can get 1400$ and 200 upvotes or more just because you've invested just 70 USD. More risk, more reward and supportive for distributon.
Effect for Steemit is also positive because those 70 SD burned will never push Steem price down.
You're right that for better redistribution this feature doesn't bring very significant impact. But I don't think it was a main purpose when designed.
Yea i tried to promote my story last night just to see how it works and ...my 0,1 SD :) goes to someone else , WTF ?? Is it my fault like i'm doin something wrong or is it the system ? User @null is receiver . Ok no problems , so i went to his profile and i see a mile long wallet history . I don't know whats that , is he a dev , or some account maybe ?
@null is an account to receive the promotion money, it's not a particular user or developer.
I think it's just an account not owned by anyone
Aha , ok now is clear , thx
Promotion ALWAYS goes to @null user. That's like to burn SD down. No-one will get the money but it helps to keep Steem price stronger (removes some inflation from the system). Content you promoted was listed in "promoted" filter. Everything works as designed.
I don't care about my content , i was just wanted so what it is . Thank you very much for answer . Keep up
Yes, if you promoted someone's else content it works the same. You payed (burned down) some SD and content will be better visible in "promoted" filter (but author doesn't receive any SD) if you want to support the author you either upvote his post or send him some SD directly from your wallet.
We can promote our own articles too, right?
Yes, and that's what people using this feature mostly do.
I am also observing the new way of post promotion. What I like about Steemit that you have transparency on how much Steem Dollars are spent on promotion and by whom. What it takes to get on which spot in which category and what the return is for the author.
@steempowerwhale 🐳
🌞 upvoting your lifetime dreams!
Yeah, Steem is very transparent in this. I also like this approach.