whatever is backing that crypto can be stolen or seized
Eh so like everything, anywhere, since time began.
or more currency can be issued without being properly backed.
What part of you physically have to hand over gold to create the currency was that hard to understand.
You sound like a fucking jew that's scared of having a currency backed by gold, even as a thought experiment you couldn't even control yourself.
In any case, it means you have to trust the entity that's holding the metal for you, and you have to trust it's able to defend it. I can't think of any entities worthy of such trust. People trusted the US government for that, and look what happened.
If you can't trust them to hold a metal why in the hell would you trust them to hold anything else.
If banks literally just went back to the gold standard it would fix a multitude of problems coming over the horizon, but they can't.
The only way to be sensible is to hold your own metal, in your own safe, and trade small amounts into whatever fiat system is trendy at the time to quickly swap out for goods you need.
That's the only way your wealth is saved these days.
I would never recommend going all in with gold on a crypto like I'm suggesting, but small amounts switched so that you can buy something, and the recipient can switch it back out (because there's physical metal held, to go back into their own safe) is much better than whatever bullshit bitcoin is doing.
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