To paraphrase Eric Voorhees,
Bitcoin is unfortunately the name of two things.
1) it is the name of the Bitcoin protocol, which describes how the block chain, mining, etc. works.
This protocol performs some useful functions that no other money system can currently match. (Fast cheap transfer to any where in the world, robust etc etc) The Bitcoin protocol clearly has a value, and the value comes from its utility.
2) The Bitcoin protocol has been implemented to allow transfer of a digital currency, this currency is also called Bitcoin. A Bitcoin has no intrinsic value and is commonly misuderstood to be what Bitcoin is all about.
As far as modern economics is concerned there is no such notion as
intrinsic value. Such notion does really exist in finances but it has very specific usage which has nothing do with what is being discussed here. To say that Bitcoin as a currency doesn't have intrinsic value would automatically imply there is something which has such value. This is false
Stop with the intrinsic value bullshit. Cant you see it? Our value judgements are to a certain extend unalterable. We always want water and we always want food as we depend on these things for survival. Again for every thing I can list some use case.
I WANT YOUR SUBJECTIVE VALUE STATEMENT. WHAT CAN I DO WITH A BITCOIN? WHY IS THE BITCOIN VALUABLE FOR YOU?
Why cant you answer this question. Why do you continue to talk about intrinsic value. I dont care about intrinsic value. I want to know WHY you think 1 Bitcoin is valuable?
Thousands of people have all answered the question about gold value: They all think its pretty and thus they want to make jewelry out of it or they like to look at a gold bar. SIMPLE.
Again: What is your personal value judgement about bitcoin? What can I do with it? Why do you think it has value?