... we need a few more years, especially with Steem.dao and soon to be SMTs and communities, but so far I haven't seen any critical issues with the model and it has faced a few challenges.
You did touch on this in the post, and I totally agree. Nice job :)
!ENGAGE 25
Glad you think so too. I was actually quite surprised that there were no large issues with the last hard fork given its complexity. This actually has me worried about the proposed fork to reduce power-down time. SPS is still relatively new and nowhere near 50% of the Steem power is voting on any of the proposals yet. It makes the election turn out in advanced democracies seem like a distant dream.
Even if we add both the aye and nay together we still only get 70000MVests (17%)
I know some of the largest stakeholders don't vote so even if we remove the top 4 accounts (I think Freedom votes witnesses), We still have 280000MVests or still less than 1/3 of accounts voting.
We also have the large majority of Steem already locked up in Steem power (65%) which means the majority of people are silent.
I'm not sure if Steem suffers from a liquidity problem. In anycase, this is turning into its own post...