The basis for Bitcoin's value is the ability to transfer value
Actually it was to BE value.
Slight difference between a technology that's just transferring it and one that's "being" it. Don't worry, Jamie Dimon makes the same mistake - he thinks Bitcoin's just a conveyor belt as well. If it was, it would be satisfactory to have designed it using a record keeping archetype which possibly explains why you don't see any problem with cryptonopte's approach.
It contributes nothing to the integrity of the blockchain to be able to see the coins moving back and forth
Not if you can't tell the difference between record keeping for money and being a monetary commodity
