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RE: Steem token burning: Visibility As A Service

in #business2 years ago

Authors who burn tokens should do so in order to reach a larger audience of readers and curators. If developers and curators make sure to reward authors with upvotes and visibility for burning tokens, then it becomes a value for value exchange. This gives utility to the token, and if the value of STEEM will go up, it will be driven by that utility.

I think "visibility as a service" makes sense in theory, although in practice I'm a bit skeptical there are enough humans viewing the content right now to honestly justify it. I think it's potentially a bad idea to think of the value you get from visibility in terms of the rewards on a post, if there's too much of a direct path from payment to reward then the idea of getting visibility for content that deserves rewards can fall by the wayside. I think it would be a problem if people started to think of post promotion as a lottery ticket for getting a big upvote.

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although in practice I'm a bit skeptical there are enough humans viewing the content right now to honestly justify it

Maybe, if you just consider the possibility for people to read the particular promoted post. If it can also be used as a way to put yourself in front of people who might become followers, that changes the calculation, though. With that in mind, I do think we have enough people here to support it. Also, as I'm exploring with Popular STEM another use case might be for promotion campaigns by communities, instead of just individuals.

I think it would be a problem if people started to think of post promotion as a lottery ticket for getting a big upvote.

I agree with this, but I don't think it'll work out that way. Basically, post promotion means that the author has "skin in the game". Maybe it's a way to improve the odds that a curator will look at your post, but you still have to create something that they'll be willing to vote for. I would think it would create an extra incentive to produce content that is worth voting for.