Bitcoin does have intrinsic value since it took WORK to create it. And intrinsic value means that something is a COMMODITY and so can be sold even in absence of any gov't or party backing it as a currency. And while bitcoin is a currency, it also is a commodity because people will PAY for it, even though there's no gov't or party backing it. Just like gold. And of course Bitcoin is MONEY, since people freely USE it as such.
I.e. Bitcoin has ALL characteristics of gold (such as rarity, permanence, and work required to create it), except for MASS. Which makes it better than gold as currency, since it can be transported at the speed of electricity across the world, and at a very low cost.
