[asg]

The intrinsic value of paper currency, I suppose comes from the promise of the central bank to pay its value on demand. In the 'good old days' this was a promise to pay its value in gold, but now its in the settlement of your debt. In Bitcoin that promise is peer-to-peer. Whether that makes it a successful currency is a fascinating, but open, question.

[scott_s]

That's the value imparted on the paper currency, not its intrinsic value. Its intrinsic value is that of a piece of paper with interesting designs on it.