Ask yourself what backs the value of UPS shipping labels, that people are willing to give substantial sums to obtain one? Intrinsically the label is just sticky paper with some printing on it. The answer is the UPS network of trucks and distribution terminals. They enable a package with a label on it to get from one place to another.
In a similar way, the Bitcoin network of p2p nodes, mining hardware, desktop apps, merchants accepting it, and user wallets enable moving money from one place to another.
In other words, Bitcoin is precisely what I said - a medium of exchange, a coupon, a token, not a currency.
The network makes bitcoin balances useful, and therefore have value.
So? Having value [being useful] does not equate to having value [monetary worth]. They're two different things, though I can see why BTC fanboys would like to obscure the existence of that distinction - because it's existence demolishes their entire theory.
As to the balance of your reply, it's just more of the same... handwaving, smokescreens, and you using words that don't mean what you think they do.