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>but ethereum/bitcoin aren't fiat currencies?

Fiat currencies are created by fiat (legal declaration). No government created either, so no, they are not fiat currencies.

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you can assume that the bitcoin/ethereum code-base are the modern/digital version of a legal declaration.

But I meant in the sense that they don't have intrinsic value like gold.

Well you cannot eat, drink or breath gold either... Gold is impossible to fake, but ETFs based on double-counted collateral and various other fixing fixes have made it a fool's errand to preserve capital with gold.

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