"The 104-day power down timeline is necessary for currency stability, according to the whitepaper. If you eliminate that, then the Steem likely free-falls."
Have you seen the chart ? This is forced manipulation. Without the 104day powerdown there would have been a smaller "pump" and therefore a more stable currency.
RE: My proposal: reduce the withdraw channel from 104 weeks to 104 days or even 104 hours to make steemit less like a ponzi scheme