Reminds me of Pecunix, Cgold, Egold, Ebullion and E-dinar problems even though this would be decentralized as no central accounting system taking IDs/making use

Reminds me of Pecunix, Cgold, Egold, Ebullion and E-dinar problems even though this would be decentralized as no central accounting system taking IDs/making user accounts there's still a pile of gold the US gov can seize if they want claiming there must be IDs for transactions. Bitcoin there isn't a central repository of btc keys printed in a bank they can go after making arbitrary seizures more difficult plus no existing laws like there is for gold ownership transfer. I like this idea but predict either a fractional reserve scam where independent auditing isn't done or that tempting pile of gold gets stolen by a government.