Then I'm really confused, because money requires an intrinsic value by definition.
I'm not sure about that. Which definition?
I thought money's main necessary properties were
- Mostly conserved. Sure you might lose some if careless, but you can't duplicate it (double spend, shaving the edge off gold coins, counterfeits).
- Like currency, needs to be transferred around in useful-size easy-to-validate denominations without too much inconvenience (= cost).
- Scarce. Hence, in part, the Hitchhiker's Guide joke about using leaves off trees as money? I put it last, but I suspect it is of primary importance.
Agreed. It has to be indestrucible, divisable and scarce.