ELI8 (i feel like a 8 year old) 
- I've been doing research about the Gold standard and how it works. I'm trying to wrap my head around the concept to get a better understanding. http://money.howstuffworks.com/currency7.htm
I've searched the forums too and found https://bitcointalk.org/index.php?topic=24541.0 which further reinforced my knowledge to a certain degree.
My two questions are;
1. If it were backed by something, what does it mean to cryptocurrencies?
2. Is it a good thing or bad thing ?
- I've been doing research about the Gold standard and how it works. I'm trying to wrap my head around the concept to get a better understanding. http://money.howstuffworks.com/currency7.htmI've searched the forums too and found https://bitcointalk.org/index.php?topic=24541.0 which further reinforced my knowledge to a certain degree.
My two questions are;
1. If it were backed by something, what does it mean to cryptocurrencies?
2. Is it a good thing or bad thing ?