What is True or Fundemental Value?
Value or Valore in the classical word literally means something to the Good, to the Benefit of, that which imparts strength, and well being.
For this to occur the thing of value must have USE. And the use must benefit us.
What is the USE of Money? It enables us to store wealth, to transfer wealth, to trade wealth. For this it must have the quality of a unit of account, be a scalable means of payment and be stable over time in preserving wealth.
Paper money certainly serves as a unit of account, and is a scalable means of payment. It certainly DOES NOT serve as a stable store of wealth over time:
What about Bitcoin: Well, here's Nouriel Roubini:
"Bitcoin is not a unit of account, is not a scalable means of payment, and is not a stable store of value."
Instead, he argues, it is a pump and dump scheme, where fear of missing out leads retail investors to speculate on an ever-increasing bubble.It might make a great momentum trading vehicle but it has no fundamental value.