WTF??? How do people hold on to using the term "intrinsic value" in the most arbitrary ways???
Because it cost money *in the past* gold has intrinsic value?
Salt has also a high intrinsic value cause it cost a lot of work in the past?
Your hard labor of the past will give your shiny metal value once those asteroids drop 50 times our gold reserves down to earth per year?
This totally degenerated argument of gold being valuable because of its intrinsic value is just beyond stupid.

If at all, intrinsic value is the value of something once I stop swapping it for other stuff (make tools, eat it, etc.) aka a future value in case nobody wants to trade not a past value that drove people to mine it with hard work. Past appreciation doesn't give value to anything and in this sense I strongly oppose to "bitcoin is backed by electricity" and only jokingly mention that bitcoin is backed by drama cause that's the only aspect it guarantees for the foreseeable future.