Why accept a crypto currency based only on computerized ledger entries in preference to one that can be converted at any time into gold or any of several major currencies? Sailing ships were a great form of transportation -- until competition from steam and diesel propulsion came along and made sailing ships an anachronism.
Nobody cares about that. “Backing” currency is layering illusions on top of each other. The only thing that any currency is really backed by is people’s willingness to take it in exchange for goods and services. Dollars only have the value we give them. Gold only has the value we give it. Crypto also ONLY has the value people give it.
Funny you mention anachronism while touting gold backed currency.