The term "backing" indicates adding strength or support to something. Unlike the USD centralized pool of control backing, Bitcoin is backed by a distributed ne

The term "backing" indicates adding strength or support to something. Unlike the USD centralized pool of control backing, Bitcoin is backed by a distributed networked compute and store mechanism. That mechanism's infrastructure is provided by people who believe in the technology, including miners, full node wallet users, and exchanges. Making ad hominem arguments against Bitcoin by discrediting Mt. Gox is flawed because they are only one part of the Bitcoin network. Mt. Gox can continue burning to the ground tomorrow but Bitcoin will keep on keeping on regardless because the general approach to Bitcoin is high distribution of every element of the network. Mt. Gox's problems have had a short term effect on the price of Bitcoin, but that simply will not continue because other exchanges will take its place. There are plans in the works to build distributed exchanges. Technology takes time to build correctly. Bitcoin is no different in this regard.