Steemit has just been updated 10 minutes ago, and new features have been added. This is my first impression about them ( I might be wrong, this is just my impressions, and I am trying to figure out what happened exactly):
It looks like a new toolbar has been added to the topside of the site where you can now view the: new, hot, trending, promoted and popular content. It is now more easy to understand what they mean, instead of using words like active and longterm payout (or whatever it was called before).
Also the promotedis a new tag, that comes together with a button:
So it looks like you can now spend Steem Dollars to promote your articles in the promoted tag, and get more view from visitors. It is a very clever idea:
- On one hand it offers paid promotion for people who want to get big exposure
- On the other hand it stabilizes SBD, gives more utility to it, and offers another form of long term-investment, namely into increasing the number of followers you get and the potential profit / article
A very clever and good feature, hats off to @ned and @dan and the other developers, this is a very good feature!
I love this! I can't wait to try this stuff out! I'm more than whiling to invest in my articles performance.
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Yea it will be very interesting. Now the whales can only read a few articles that they randomly pass by, so luck is a big factor to be succesful.
But with this feature, if people invest into SBD, they can take a shortcut from luck and use money to promote themselves, increasing their probability to become succesful as I am sure the whales will browse that tag frequently.
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Very excited :)
Does anyone know where the promoted SBDs go? I would be interested to know if they are just getting burned up (which would be a huge value for the Steemit community) or if the proceeds are going to someone's account.
[Edit] I just tried it out and saw they get burned. Awesome!!!
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I think they get burned, which is even more fantastic, it stabilizes SBD, big time.
Now the 1$ peg can easily be respected, and the added utility of SBD will also add more volume to it probably.
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For sure. I could see SBD even going above $1 now. There is a fixed supply, and now a huge demand :)
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Well not necessarly, because people also do cashout SBD sometimes, but it would be nice if the 1$ peg is at least sustained. SBD should not be a speculative instrument, for that we have STEEM, SBD should be stable, and I think the devs are doing a good job to maintain this.
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The last part of the description says
"the funds are "burned". When funds are burned they become a dividend for share holders"
Noticed that burned is put in quotes and that it says the funds go to share holders. So they are not truly burned in the sense that they disappear forever. They go into the accounts of share holders. If this is so, it won't stabilize SBD.
I may be misinterpreting this, so correct me if I'm wrong please.
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I have no idea, I have to look more into this, I am still researching this new feature.
But even if that is so, it would still decrease the money velocity of SBD, which would stabilize it's value somewhat.
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Agreed, it would have an effect on the money velocity of SBD.
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Yes, and not just that, it gives utility to SBD, so we could see an increase of traded volume of it. Which would stabilize the price. I am excited about this feature!
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After researching a little bit more, yes they do get burned, they go to @null, which is a special account that nobody has control over. And then later they will be removed with a hardfork.
So the value remains in the community but the coin is burned, decreasing the supply and raising the value.
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Its great for the members who have steem to spare not sure it will help the less well off
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Yeah, I was looking at http://www.steemboost.com the other day, and it wasn't very actively used.
So an in-built advertising system is way better, than relying on 3rd party, it is more efficient and we shall see how good it will be for promotion.
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Fingers crossed it benefits everyone
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It does, I love especially the fact that it stabilizes SBD and gives utility to it.
Currently SBD is not entirely pegged to 1$ because it has liquidity issues. Now that SBD will have more utility, and potentially more liquidity (as more people can trade it), it will respect the 1$ peg more easily.
I love it, the devs are really geniuses!
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Yes I wrote an article about the update too and found your posts in the "promoted" categorie! :) -upvoted & followed
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Nice, I thank to whoever spend SBD to promote my article, thanks a lot!
Also it's nice to see so many people are already catching on to this feature!
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interesting!
thanks for the update!
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No problem, I was just browsing Steemit and noticed the change, so I thought I'll be the first one to talk about it.
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I just noticed it too. Thanks for pulling this post together so quickly!
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No problem, I think I was the first one to put it out, and now it is already being posted by the official steemit account. @steemitblog
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