Yup as @roelandp pointed out 300k dailies are not a problem.
Hmmm...... I do see that STeem is much more centralized. I didn't really think about that, but it adds more cohesion and a community focus instead of a decentralized-any-stranger-can-be-a-miner Bitcoin model. I guess more witnesses would be added if the 19 were stressed?
Yup in a way, but I wouldn't really consider it as more centralized. Basically if powerful forces somehow manage to remove a large portion of the witnesses from ever being able to operate their nodes, the community will just vote on another set of witnesses (if they ever find out that certain transactions are being censored, witnesses not acting like the genuine witnesses etc). But this part I'm really not very sure because I still only have a rough overview of DPOS.
One more thing I don't understand: what's the bandwidth limits? I noticed my account has bandwidth, does that determine how much I can transact on steem blockchain?
This is just to rate-limit transactions, basically anti-spamming for low-SP accounts :)
good points. I think you're right about having the community vote on witnesses, etc. It's a good model as far as witnesses go.
I have no idea what this means.
It means that user can only make certain amount of transactions per day. How many? It depends how much SP user has. More SP, more transactions allowed. This is because it makes spamming the blockchain expensive. Spammer has to buy SP to really be able to spam.
Another solution is transaction fees, like other cryptocurrencies have.