Cope. A total of 5 big mining pools (in reality just 2) decide what goes into blocks and what upgrades gets “yes” or “no”, without any feedback from the network’s users. That’s as “fiat” as it goes. The bet Saif is making is that Fiat has successfully overcome Bitcoin and the suits are hailed as winners (which they actually are).

Historical data confirms: BTC consistently outperforms fiat during high-inflation regimes. With mempool congestion at just 1 sat/vB, low fees facilitate that beta exposure efficiently.