No intrinsic value argument is rubbish of course - or so it seems at the first glance. Indeed, what else has an intrinsic value, paper money, gold? It may be argued that US Dollar, for example, is a reflection of US economy, and so does Euro or any other national currency, while Bitcoin is reflection of nothing. There might be a problem for Bitcoin, because of course it is reflection of something, of everything in fact, the whole world order and world economy, and as such stands on the same foundation as the Dollar - on the world order, the US military might that is...

The problem however is that any currency has a value ONLY in comparison with other currencies - this is its intrinsic value. And that is only possible if a currency is a national money or of some group like Euro is. This is why the World Currency idea is dead on arrival and can only be promoted by near-communist minds commonly found in Russia or China... This is Bitcoin's problem: it is a World Currency, in case we'd like to see it as currency - and such thing cannot exist!

Other cryptos, some might say, Bitcoin is cross-rated with other cryptos. But all cryptos are the same - while we talk of Bitcoin, we in fact talk of all of them... I don't know if there could be found some entities, virtual or not, to which each crypto will be linked to becoming reflections of these entities and their well-being so to say - but until then no crypto is a currency. Tokens have a better chance, they might behave as shares, securities, in a sense... As for crypro currencies, I don't think so.