Why did someone create a new currency (SBD) and then decide to "peg it" to an outdated, failed fiat currency?
- The current Federal Reserve Note is now worth 3 or 4% what a 1916 FRN was worth.
Proving it has failed miserably as a currency,
since one stated goal of the FRN was to control inflation.- To purchase a 1964 silver dollar in 1964 required 1 FRN.
- To purchase a 1964 silver dollar today requires aboiut 12.7 FRNs.
- I would rather see the SBD tied to a pre-1964 silver dime which currently takes about 1.2 FRNs to purchase.
Do you happen to know if there is a planned end to SBD production? Which will result in scarcity, which will result in increasing value, which will result in We, the early adopters, getting super rich, instead of seeing our holdings devalued at the stated goal of 9.5% inflation per year?
Invest in Steem, not SBD.