Thank you @jrcornel
A very fun exercise. Of course, you are presuming that 100% of the illegal trade is captured by bitcoin and we both know the USD isnt going to give up that market without a fight.
Value is basically a social agreement that exists between people. We agree what something is worth. At one time, people thought Cabbage Patch Dolls has a value...not it is agreed upon that they dont. The USD is agreed upon to have value mostly from its backing by the US Government which means something to a lot of people. That might not always be the case.
Bitcoin, in and of itself, has no value..just like everything else. In the end though, I think people will turn to this mechanism as a store of value.
RE: Is it possible to find Bitcoin's intrinsic value?