Witness Update DragosRoua
A rather quiet week in the Steemit community, at least from where I look. Development continued at a steady pace, with a nice update of the UI (quite small, but nevertheless relevant, here's the link to a post by @timcliff describing these changes in detail). Steem price was relatively stable, trading between $0.20 and $0.16.
My activity was maintenance only during this week:
- supervised the witness node and the witness-toolbox scripts which is responsible for publishing the price feed for Steem and a few other variables, like account creation fee, block size, etc
- updated SBD APR to 9% in order to match the latest developments
- updated account creation fee at $5 (worth of Steem) from $3
- followed the discussions in chat rooms for price and witnesses (not much going on there)
- promoted @berniesanders initiative of burning Steem by promoting posts, at @smooth's suggestion (that came out a bit convoluted, but it's pretty simple actually: if you burn SBD by promoting your posts, you will be upvoted by a few whales supporting this activity)
As the year is approaching its end there seems to be more time available for Steem, hence you should expect a more consistent witness update, including side projects related to the community, pretty soon.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
Interesting, I did not know about that initiative to get people to use post-promotion either. Do you mind sharing a link to whatever post introduced it? I tried post-promotion a couple times when the feature first debuted, but it didn't seem to have much of an effect and once it started to get a bit of a bad rap from people I stopped paying attention to it. Maybe it's time to take a fresh look at that feature...
There you go: https://steemit.com/promoted/@berniesanders/encouraging-promoting-posts
Thank you for the updates, is there a minimum amount of SBD that would need to be spent for the Post promotion for this to work?
I have no idea about that, it's dependent on what others are paying. In my case, the 9SBD kept me in the top 5 for about 6-7 hours, but as I said, you don't know how much other people are paying.
Ah, ok so then to get to the top it seems it might still be more than I have, I shall keep this in mind as I collect more SBD, since the majority that I have is tied to a competition and a donation to increase that pot as well.
Thank you for the update. I did not know about the post promotions initiative. I haven't been to the promoted page since its inception because it seemed a member had to pay significantly and still find their post lost in the shuffle. Has that changed? In your opinion, is it worth burning the SBD?
I did an experiment with one of my posts, I paid 9SBD and from the votes I got around 7SBD and 40SP. In this case it wasn't directly profitable, but I presume for some people it is. The main idea is to improve the overall health of the Steemit ecosystem by burning SBD. That will maintain the peg and it will allow the system to continue printing. It's all economics and it can get quite complicated, but the bottom line is that this proposal was made in order to incentivize people to burn SBD.
Thanks for the explanation. I'm all for doing my part to keep Steemit healthy, but have dedicated my liquid STEEM and SBD for the #payitfoward initiative until the end of the year. I will definite test out the promoted page to see what results come from it. Thanks again.
You're welcome.
This post has been ranked within the top 80 most undervalued posts in the first half of Dec 19. We estimate that this post is undervalued by $4.66 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Dec 19 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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