Without P2P no SoV.

Gold is p2p. Like all physical things. This is one reason why it is a good SoV. Even if government decides to ban, tax confiscate it, you can hide it, use it, trade it. As long as your trading partner accepts it.

Now if you can't do that, the value of your SoV is always just granted and can be taken away from you in an instant. For example: Money in your bank account. Coins on an exchange or Stocks. Cash is in between. It's p2p but they can influence the circulated amount and the acceptance of it, also not a good SoV.

This is why the killed P2P on BTC.

Now before every Maxi, bot and all the foodglovepuppets jump in here and tell me:" bUt i CaN tRanSacT wiTh BtC!!!!!!!!11111" All they need are a handful of banks using it as settlement layer and none of you will be able to make a p2p transaction with BTC ever again. This is why you see big money flowing into it. They got the intel that it is under control. The can decide if it is a SoV for you or not.