Good posting and agree with much. However, watch
Rob makes the point that you also raise vis a vis blockchain. Not so much that a coin/token is backed by gold but rather the immutable record prevents double spend, fractional banking and general corruption. Also, since science divides "time" into infinitesimal amounts, nano second for lunch, nope need more time. So too any fiat can fall relative to gold such that say the GBP is worth 0.0000000001 Kg of gold. If ICO's can price their tokens in tiny valuations there is no reason in this digital age that gold cannot rise to what might seem an exorbitant price but this will simply be a reflection of the value of a fiat measured against a "gold standard" just as one meter is defined as " as the distance traveled by light in a vacuum in 1/299,792,458 of a second." So it would be easy to define a gold standard in a similar way and then measure against that. What about silver?Load of what I have written is missing. Not showing in Preview. Have to work out how to post :) Thanks.