I have read several of your comments on this post.
Here is where we agree:
HBD is very confusing to new users. I have been on the chain for four years and only recently have I chosen to put a very small amount into HBD savings. I did this in part because of the offer of 7% interest. I am simply exploring a new area of the chain.
The point of my initial comment was really to laugh about how little I am earning every month in interest in my regular bank account compared to the interest I earned in my HBD savings account. Truthfully, if there is anything I should be worried about imploding it is my FDIC insured bank account.
As to where we disagree, well disagree would be a rather strong word at this point, since I consider HBD to be more of a BETA Test at this point.
As to the current structure of HBD, I defer to your knowledge since I am an old fart who can barely "cut and paste" a meme onto a post and have absolutely no idea about the coding. :)
As to the fact that HBD is not backed by the USD does not really bother me because it would require a 3rd party to hold the assets presumably in a bank this has TETHER writ large. For me at least, all blockchain cryptos are an anti-banking assets. The larger concern would be an implosion of the Federal Reserve Note which HBD is tied to that would concern me the most.
Finally, the goal of establishing a "stable coin" for commerce and fixed income is a goal in my opinion that is worth pursuing.
At the end of the day, we are all living in very strange times. Everything from this point on is either hit or miss. Will this work? Probably not as well as it is hoped but better than expected.
We shall see. If I am wrong . . .
Thanks for taking the time to do a thought out reply👍 You Indeed make good points.
I hope it remains stable! I gotta say if it does follow dollar exactly well with inflation over 7% is it even worth it?