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I participate in the forums there but arguably, to get good mileage out of Goodreads, it's mostly used as a way to track and review books (and from there, others in your network can also see and engage with your reviews/recommendations).
If you're an author, it's also one of the places where you can host giveaways and/or author interviews. Unlike other social networks, it's clearly a reader-centric place. (Similar social networks are Shelfari and LibraryThing.)
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