The security of the Steem blockchain is weaker than Bitcoin, but it remains unclear to me whether its security is good enough to ward-off most attacks.

The token, reward, and payout mechanism of Steem is confusing to say the least... this is a pretty big red flag IMV. I'm not convinced that users will receive the $$ rewards that the platform associates with their content (one of the things I'm going to test).

Ponzi schemes and asset bubbles also have viral growth curves but ultimately, and spectacularly, fail once they run out of greater fools. Don't take this is as fighting words against Steem, rather an admission that I don't understand this platform well enough to endorse it or warn people off it.