How many of you promote your posts anymore? How many of you even look at promoted posts anymore? My guess is few people are doing either.
In case you haven't heard the news, the price of STEEM has been falling. There are a lot of contributing factors to this (which I will skip in this post), but one of the big ones is the massive amount of SBD debt that is still around from the July price spike - and continues to put downward pressure on the price.
The witnesses and devs are brainstorming/trying lots of ideas on how to reduce the debt without causing the price to go into a death spiral. I would like to propose a solution that everyone in the community can participate in: Promoted Posts.
When a user burns SBD to promote their post, this reduces the SBD debt. The SBD is destroyed without the block-chain having to mint a single new STEEM coin. Hypothetically, if everybody used all of the existing SBD to promote posts, the debt would be completely eliminated without using any inflation.
I do not want to try and encourage anybody to spend money promoting posts if they do not feel it is a good idea. Let's let the market dictate that.
What we can do though is make promoted posts more valuable. There's a simple way to do that: Spend more time browsing the promoted posts.