What does 'a strong fundamental' mean?
A global payment system which is faster than a wire transfer. An uncorrelated hedge for assets. P2P payment. Things like that?
A global payment system which is faster than a wire transfer. An uncorrelated hedge for assets. P2P payment. Things like that?
For comparison, the "fundamental" value of USD is a trust in the US Government to maintain its value. Comparing that to the fundamental value of Bitcoin would be a fun discussion to have, but the fact remains that the US has done it for 225 years and Bitcoin has done it for less than 9 years.
Actually, by that reasoning, I guess the fundamental value of Bitcoin is the distributed self-interest and capability of Bitcoin holders to maintain Bitcoin's value, which is obviously a powerful force.
Can you make money speculating in Bitcoin? Obviously. But it is not fundamentally backed by something that people have long-term trust in -- it is only worth what you can trade it for at that moment.
People always underestimate the power of network effects. People have been predicting the demise of facebook for the last decade. Surely something better will come along at eat its lunch, right? Wrong. Network effects are and always will be king.
The USD was backed by gold until Nixon, you can only count the last 40 something years against Bitcoin's 9.
Mind blown, right? :)