I think that sums it up perfectly, I have just had a thought though..Do you know where the steem that is used to promote actually goes? since it looks like part of the site not a user promoting a service?
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Yes it is sent to @null and burned
Thats great cheers mate, I love it when crypto gets burned! steemit is becoming more appealing by the day.
It sure is a neat concept, promoting basically destroys SBD (steem backed dollars) which in turn reduces the outstanding supply of STEEM (indirectly).