> Jamie Dimon's reaction is not IMO unreasonable given the hype and the contradictions inherent in the position of most bitcoin advocates - contradictions laid bare in this article (fast, decentralised, consistent, pick two).
His ultimate conclusion -- that bitcoin is a bubble -- is not an unreasonable one to reach. But his reasoning completely misses the point. It doesn't even make sense to evaluate the worth of bitcoin in isolation as if it were fiat currency. An argument that it's a bubble necessitates a viewpoint on value of distributed apps.