"What [bitcoins] lack is their own fundamental intrinsic value. You can’t do anything with a bitcoin, other than trade it for something you want. So, intrinsically, the bitcoin itself has no value. It only has value as a medium of exchange so long as people are willing to accept it." You mean like fiat and any money system ever invented? (Even precious metals-based ones. Although, you could argue non-corroding metals do have some uses in manufacturing)