I love a guy that creates a whole long freaking post to talk about PoW being "backed" by energy when he has no clue what "backed" even means

https://bitcointalk.org/index.php?topic=361813.msg7624335#msg7624335

To be backed by energy, your exchange rate back to energy cannot change, just like when dollar was backed by gold until the 1970s (http://money.howstuffworks.com/currency7.htm).  It has to be set at a constant exchange rate and be guaranteed by some kind of entity that you can exchange the coin back to "energy cost" that it ORIGINALLY took to produce these coins.  Your oh-so-dear PoW coin values fluctuates with no regard whatsoever to what energy costs to produce these coins.  And it isn't backed by anybody.

A perfect analogy for your flawed argument is like saying "just because a stock X is dollar denominated (traded in US dollars), it is backed by the US Dollars" (and somehow that prevents it from dropping in value).  Yes it is worth a certain amount of US dollars but that amount is always changing.  A stock can be worth $50 one day and drop to $1 the next if people loses confidence in that stock (or even $0 if the company goes bankrupt).  The value of the US Dollar does not affect the stock price or vice versa.  

Same thing with PoW coins.  If people loses confidence in a coin, no matter if it's PoW (or even PoS for that matter, but i'm only concentrating on your flawed premise, which is what your argument is based on), it is going to drop regardless, no matter how much "energy" you put into making this coin a week ago, or a month ago, or a year ago.  This is the proof that there is NO "BACKING" of any kind from energy.  Plus no entity would guarantee that "backing" of yours.

Don't talk about stuff that's over your head please.