Just read an article about...............Warren Buffet of Berkshire Hathaway talking about Bitcoin and crypto currency. Warren owns ZERO bitcoin and is not a fan of it. I guess he is not sold on it. He looks for company's that produce something and bitcoin produces NOTHING. Thus it has ZERO intrinsic value just like Jamie Diamond of JP Morgan stated.
All bitcoin is, is a way of transfering money. So in reality it is a service and what should be the valuation for the service. Sadly not where it is now.