Yes, fiat currencies are backed by guns. We who invest in Bitcoin are risking our money in order to have a currency NOT backed by guns. We are only risking our money. Many, many others have risked and given their lives for the hope of freedom. You may be underestimating what a powerful force the love of freedom is. This may not be rational, but it is very very real. Bet against it at your peril.
Yeah, I'm still surprised how people like OP & friends underestimate how many bitcoiners are Tru Beliebers. Every time there is some news about banks suspending cash transfers, governments implementing capital controls or looting pension funds... another fiat whale starts thinking long and hard about Bitcoin....
Mark my words, the next European country to pull off a haircut will see Bitcoin increase another tenfold. They know this, and they won't be able to avoid the haircut for long...