Observing for these months, my strongest feeling is that Bitcoin is fading away with no material object backup. Apart from the geeks, ordinary people who first know about Bitcoin always say "this matter is vague and insubstantial".
Geeks have confidence in crypto-algorithms but ordinary people don't.
So linking Bitcoin to gold may be a good idea.
material backing.. formally known as tangiable or intrinsic are 'hype' words of the commodities market.
i am truly sorry that you are only versed in the commodities market. but WE bitcoiners are in the ASSET market.
digital property such as music, intellectual property, art, movies. have no 'physical' backing. but all hold value. these are all assets.
i wil now leave you to learn the differences of assets and commodities
have a nice day