Absolutely not. There is no intrinsic value at all, that is, no use value, or, you can not consume a bitcoin leading to its destruction, and at the same time gain something useful. *)

Said otherwise, bitcoin has only money value, and in this regard it is the same as paper money.

It is at the same time pure money, and sound money. This has never existed before in history.

The money value is by definition speculative, all actors at all times have to decide for themselves what value (real world, use value) it is possible to exchange the bitcoins for in the future, far or near.

*) I know, you can prove that you have destroyed bitcoins to prove something...

And how do you think that would be compatible with:

http://en.wikipedia.org/wiki/Velocity_of_money

If the network proper is used to transfer a certain total value (measured in USD) over a certain time span, then given the money supply (total bitcoins in circulation, in this case) that transaction usage will provide a lower bound for the USD valuation per coin (assuming transactions are not instantaneous - which they aren't, even if the pure protocol part of it almost is, but there's slow humans involved as well )

I'd call that a pretty good candidate for "fundamental" valuation (even if the exact value of it is up for debate)