Anyone who suggest bitcoin should be backed by a "real" asset like gold is gravely misunderstanding the situation.
Backing injects counterparty risk, because a specific person or entity must be obligated to fulfill the backing.
Backing requires a backer.
Bitcoin does not need backing, because it is a digital commodity that is valuable itself. It is valuable in large part because it carries no physical burdens or constraints.
It is this lack of physical backing that allows it to move anywhere instantly at near zero cost.
-Erik Voorhees,
bitcoin conference 2013Thought you might like a shred of intelligence sprinkled onto your crap dinner.
This is a step backwards in evolution. The gold will be secured under the developers name (as it legally has to, it cannot be registered to Mr.Anonymous).
There is nothing stopping him from running off with all the gold whenever he pleases.
Guys, I understand you want to protect yourself in the event your investments become worthless, I do.
I've taken quite a few losses on coins myself.
But this is not the way forward.