[sidlls]

* The value of fiat currencies is "based solely convincing others they have value" - it is trust in the issuer.*

You can continue to assert this, but that doesn’t make it true. And it is definitely not “hand waving” to make the observation that organizational structures provide value. Some more than others, depending on the context and time. Fiat currency arises out of the dominant current organization into nation-states, and the value is from the same root. It’s more or less an emergent property, not the directed efforts of some few elites to convince everyone else of the value. If and when this organization loses value, we’d likely see a similar devaluation of fiat currency. For example, a “mad max” apocalypse scenario.