@ modprobe , This is a great post. I like your break down of what makes currency valuable. I also want to say thanks for the insight of asking "What are we subsidizing when we use an FRN".

I don't like the current system, because it's shown it self be corrupt. Why would I continue to subsides this?

I continue to subsidise this because it's the system that I'm use to. I believe it's the concept of ubiquity that casues me to be hesitant about Steem Dollars. I have to convert my dollars through middle men to get them and then convert them again to get them back. With each step it takes to convert my money, it causes friction.

Being new to crypto currency, this is my hang up. This is my third day on Steemit and I'm working to get an understanding of it.

Thanks again for your post.