Yes, that's correct. I didn't include about the timing and previous votes because there are many other tutorials on that. it definitely gets diluted when there already many other users. I don't know the exact number when things get diluted but i like less than 30. Usually I look for ones that are within 30 minutes of the posting time and I upvote from the 15-30min range. If others know more about the voting time and # of votes I would to hear it.
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