QUOTE: Although we are delighted to see blockchain social media a reality, we worry that Steem can’t last. The burden of building not just a community and a technical platform, but also a novel cryptosystem and supporting economy, is extremely high. Security and scaling problems with their blockchain have a smaller team of experts incentivized to solve them, so solutions will come slower. Companies and services such as wallets and exchanges will be fewer in number and less featureful. When they encounter regulatory issues, they will have fewer allies.
https://engineering.yours.network/articles/2016-07-14-why-we-are-sticking-with-bitcoin/