Not exactly, but pretty much. You can lend (delegate steempower) to the voting bot and others that want to get their posts upvoted (bigger than they can provide with their own steempower) can pay for a larger upvote. If you pay 1 SBD you get a $2 (ish) upvote.
RE: MY FIRST MINNOWBOOSTER PAYOUT AND BREAKDOWN
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MY FIRST MINNOWBOOSTER PAYOUT AND BREAKDOWN
So I lend the minnowbot my steem and using an algorithm it goes out and up votes promising content, which then continues to get up voted because it was good content , increasing my steempower?
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Pretty close. People pay minnowbooster for votes.
Minnowbooster uses steempower delegated to it. Minnowbooster divides up the money it got paid for votes and distributes it to the people who lent steem.
It doesn't just upvote promising content. It upvotes based on being paid. But... since you can get downvoted, you can't (or shouldn't) pay to upvote trash or you could just be throwing your money away.
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