There's no such thing. Value (market or use) is always relative to someone or some group of people. Yes, but there's an important and qualitative difference be

There's no such thing. Value (market or use) is always relative to someone or some group of people. Yes, but there's an important and qualitative difference between valuing something because it's useful, and only valuing something because a crowd of people value it, only because they know everyone else values it, only because... recursively. This is what I mean by "intrinsic value": it has a utility value independent of pure psychological value. Useful things like oil or wheat won't suddenly become useless. (They could be obsoleted, but that's not sudden or unexpected). But it's not that easy to reason about group psychology. Empirically, we know there have been many bubbles where everyone suddenly "agreed" something was actually worth much less than the going price and crashed it. We know psychologically can do that.