your friend has a point on several of his issues. Course, he also needs to remember that we're only 3 years into this project so he's getting a chance to be an early adopter still. The fact there are people who have been here the whole 3 years and still love the place even with all the warts, should give him an idea of potential.

On the SMTs to points analogy. I will not ever participate in a points program. Ever. Hard stop. Beyond the fact the points have zero value other than the arbitrary numbers they assign to random products or whatever scheme they come with, they are using my use of the program to track buying habits and then sell the data. Tokens on the other hand will develop value that I can then choose to either spend directly or cash into fiat. Gives me the control without giving away my data to be sold.

As for the difference between Steem and SP ... Staking Steem into SP not only increases influence on the platform but also earns about 2.75% / annum on that stake.