Thank you Jim for taking your precious time to look through my article.
Appreciate much. :)
They actually considered the name and concept off REDDIT.
And due to the process of conversion to SteemDollars.

STEEM ---- STEEM POWER ---- STEEM DOLLARS (SMD)
MINED STEEM ---- LIQUIDITY FOR CONVERSION ---- CURRENCY FOR EXCHANGE

This may be the plausible considerations for the name.
However, i personally have alot of eyebrows raised when i talk abt Steemit too.
or rather having to spell it out most of the time.
What are your thoughts?
Hit me back just to chat.

Cheers!