Yeah, intrinsic. This is all not quite mainstream yet but ETH is interesting because the blockchain has utility beyond a simple ledger. It’s cool stuff. It’s a distributed blockchain on which you can run Turing complete code powered by the collective compute resources of those who host the blockchain (if you participate in the blockchain you get ETH, but you also rent a bit of your computers resources to host distributed applications). I have no idea how far this goes but it’s very interesting. Today, if you want to run an app on the Internet, you can set up a sever and host it yourself or you can host it on someone else’s servers, the most popular of which are the big 3. But you gotta pay them for this service with fiat money. With ETH, you host the app on the ETH blockchain and the owners of ether collect a tiny bit of rent for this. So unlike bitcoin, there is some amount of intrinsic value.

The implications of this are huge. At scale, it changes the economic model of the Internet (hosted services paid for by fiat money). Or it fails. Who knows and sorry to take this off track, but technically speaking, ETH has intrinsic value beyond a medium of exchange.