there was literally a company called e-gold, which was sucessful until they were shutdown. http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud http://en.wikipe

there was literally a company called e-gold, which was sucessful until they were shutdown. http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud inevitably, if a competing currency pisses off the governemnt, it will be shutdown if it is centralized. it isn't really possible to do decentralized gold-backed currency (except perhaps, ripple may solve this).