This will prevent Steve from sending you messages, friend request or from viewing your profile. They will not be notified. Comments on discussion boards from them will be hidden by default.
“Because, as we all know, it’s easier to do trivial things that are urgent than it is to do important things that are not urgent, like thinking. And it’s also easier to do little things we know we can do than to start on big things that we’re not so sure about.”
―
John Cleese