RE: How the new PROMOTE feature works
Just a note about burning Steem by promoting. When you eat apples, bananas, and any fruit there is often a lot you throw away.
Why is this important?
Money is inflationary, the more we have, the less we actually have as there is the quest to earn more and more humans and more money, and more debt than money. What this means is that if you keep cash in your pocket, all those cents and pennies over years it becomes so devalued that after 10-20 years it is worth almost nothing. That $100 private Benjamin may only be actually in spending power of only $8 10-20 years later.
With crypto currencies, the aim is deflationary - which means the value grows which is opposite to the inflationary model. The aim as always is a limited supply. Where there is an unlimited supply it holds no value. To reach that there has to be less in the system.
By throwing the coins into thin air, you actually increase the value or you could have something that has no value - however much you want to peg it to the USD!
Hence why throwing into thin air, and limited promotion time makes for fresh content an and ecosystem where Steem is worth more over time.
Nice post @cloh76
Create a great day,
@kozan
I like these ideas... I just burned 10sbd on this post:
https://steemit.com/bitshares/@ldauch/bitshares-a-cryptocurrency-for-the-masses-part-1
Hope it produces more than you paid to promote it @ldauch
Create a great day,
@kozan
No worries about that. I spent 10sbd so far and im not expecting much
Sorry for necroposting, I'm just curious if you used it again and got better results?
You got 3.87 SBD back.
Less 25% curation fees= 10.40 half to SP half to SBD... too much work for 40 cents...
Thank you.
You may be missing the point of "Promotion" as it applies to minnows looking for exposure. As everyone knows, noobs have a difficult time getting recognized and this is a way to pay it forward, so to speak. I used this feature once, not for immediate gains, but as an investment into the future. If you spend 1 SBD and pick up 10 followers, to me that is worth the price. Just my opinion.