Communities is a top feature and the only reason Reddit is valuable. The other is thresholding for exclusive communities. Steem Power should be required beyond a certain threshold for certain exclusive communities and then I think it can work great.
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Under our model, the people who create a community will be responsible for assigning moderators or approved posters for that community, and can institute any sort of standards or thresholds that they wish, based on Steem Power or anything else. :)