I will give you credit - this is a significantly higher IQ response than 99% of American Bitcoin holders could write 😂 Your critique boils down to the operational complexity of executing this attack. I would argue that if a fund (or coordinated group of funds) can 10-100x their capital and make billions of dollars by doing 51% attacking BTC and shorting it, it is very likely to happen, even if they have to jump through a lot of hoops. Even if some exchange withdrawals get frozen after the attack, there will still be tradfi ways to short BTC (ETFs, MSTR, miner stocks), it will be shortable on DEXes, and other crypto-assets will likely plunge in tandem, which will be shortable as well. Options are another great way to execute this trade. Once a 51% is successfully executed, BTC is finished. It doesn't matter if the software soft/hard forks, or anything else - its SoV meme will be permanently wrecked, and I would expect it to immediately plunge in price by 70% or more. I would also argue that "attacking the soil you depend on" doesn't matter, since this attack can be executed by outside actors who don't care about that "soil." I think BTC and ETH are in direct competition to be the internet's primary SoV, and ETH is the only rational, sustainable choice out of the two.