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If someone literally steals your BTC, you have the same recourse as if someone stole your golf clubs. The mechanism of law enforcement and the justice system will try to get your BTC or golf clubs back, and this has happened numerous times already. If they take my golf clubs or BTC or USD through fraud then the rules are slightly different, but all of them will be treated the same way by the justice system. Now it is backed in the sense that if I say that I will not accept USD in payment of a debt, then I am pretty much out of luck. If someone borrows my car and destroys it, and they offer to make restitution in fair value in USD, I cannot say no to that (except to complain about how fair the value is), or demand that they give me a new car in exchange if they are not willing. There are more subtle differences; if someone takes my USD then they can return the same number of USD, any old bills will do; whereas for golf clubs or BTC the situation may or may not be different. All of this is just the justice system, though. I fail to see how the military figures into it, except that if another country decides to start printing dollar bills, then our military will get involved, and the cost of maintaining that threat is part of the cost of maintaining the currency. Fortunately, that's a moot issue with cryptocurrency, which has much better anti-forgery systems that do not require the use of guns. The whole notion of any currency being "backed" by anything dried up a long time ago -- the closest we have now is casino chips, which are backed by the relevant currency and the faith and credit of casinos. |
Only if you're in the USA. USD is subject to the US legal system regardless of where the transaction takes place.