There is no such thing as intrinsic value, all value is subjective, and Bitcoin most definitely has subjective value; otherwise it would not be exchanged! If you define "intrinsic value" as something like "has subjective value for a great majority of individuals," then Bitcoin does have intrinsic value as a way to easily and quietly send wealth without requiring a central middle man. There are also numerous theoretical ways in which it could be made useful (colored coins, for instance.) I don't understand how people can look at Bitcoin and not see that it has some use, even if they believe that use is overblown.
