Earlier quoted context omitted.
It is valuable because it is a shared public data store with equal access read and write privileges. Data stored in it is available, partitionable and eventually consistent. It works due to the economic incentives of being rewarded for validating transactions. Prior to Bitcoin there were no shared public data stores that satisfied these requirements. Bittorrent and Freenet are not guaranteed to have data availability…
I understand what you're saying. The only problem is what data is in that decentralized, available, secure data store. The only data allowed in is self-referencing data. Most people don't care about the Bitcoin data store. If I could access, say, Gutenberg.org books in that data store, or something of that nature, I and others would find more value in it. On the other end of that, processing, not data, there are dist…
https://www.coinprism.info/address/1BvvRfz4XnxSWJ524TusetYKr...
https://blockchain.info/new-transactions
I personally believe that there is intrinsic value in just the self-referential nature of Bitcoin transactions but what's important to realize is that the transactional nature of Bitcoin is what allows for the entire system to work, regardless of what is built on top of it.
A basic transaction of "A sent X to Y" might not be as valuable as a poem, but it still has some level of value.