If you ever hear anyone say Gold is better than Bitcoin because we will have Gold backed crypto tokens, tell them this is why that wont work.

Look at Paxos, a trust company regulated by the NYDFS, they have stopped issuing their BUSD stablecoin because of some moronic letter from the SEC. Now whats to stop a company that issues a gold backed stablecoin from getting shut down or closed by authorities, nothing.

Gold cant work because it requires third parties and counterparty risk to make it usable in modern day commerce.

Bitcoin is the only system that can operate on a global basis without the risk of getting shut down.

Bitcoin will be worth more than gold for this reason alone.