Bitcoin has intrinsic value = Commodity?

It's intrinsic value is the ownership of a mathematical solution key to a complex mathematical problem.  Other uses:  If extracted from the collective, it may be use to certify authenticity or use for encryption purposes.  It has intellectual property attached intrinsically.

Bitcoin is not representing anything of value (Not even a promise for repayment) = Not a currency?

A considerable amount of effort (complexity of problems solved to manufacture Bitcoin intellectual property) goes into producing Bitcoins (costs in CPU running time roughly equal to its intrinsic value - to counter act economic disparity which will cause opportunity profit for producing Bitcoins, bringing everything back into economic equilibrium) = Commodity?