If Satoshi had to pick today between Bitcoin and Steem, I believe he would pick Steem. Not for any reason other than governance. ASICs centralize and decrease efficiency for PoW based coins. It won't work. We cannot waste power in the future. Every kwh spent may be measured and this is critical for long term investment . What is efficient ? What is secure? And what works. Steem does all three. It lacks the amount of liquid that Bitcoin boasts. Over time these problems can be solved. What's most critical to steem success is securing the repo and enabling direct democratic governance that Steem proved so powerful with our current witness governance and voting system .