bitcoin not having intrinsic value. What that is actually saying is 'what is bitcoin but a string of letters and numbers which don't have any value in and of themselves?' When the fact is that the particular strings of letters and numbers have value due from and only from perceived value by other people who show themselves inclined to own bitcoins in the future, whatever and whenever that and then is(are).
hence the difficulty in talking about intrinsic value.
But a gold watch is really not much different. Whether used as decoration or as a fishing weight a gold watch only has value as a projection of the human mind and the value as such in the object itself or someone, anyone else's perceived value of the object.
"Damn the pandas, full steam ahead"
-Admiral David Farragut
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