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Yes. There is no such thing as bitcoin as a "next gold" that is held in ETFs/banks and simply borrowed against. Fantasy from people scared of the change that is coming.
The most obnoxious thing I hear anyone say in bitcoin is the absurd notion that fiat will not go to zero.
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Only SoV it means we are going back to fiat. And that is not an option.
If you consider that an option then you are a fiat maxi, not a bitcoiner.