Stocks are just virtual pieces of paper saying you own X amount of something. So is bitcoin. Stocks are valued not by some formula, but by the constant battle between buyers and sellers. So is bitcoin.
The only real differences are that stocks are somewhat more protected (SEC and all that) and are not treated as property like bitcoin. I guess if you own enough stock you can steer the company you own to some degree, whereas with bitcoin the developers have more of a say than the holders.
Other than that, whether you like bitcoin or hate it, it has many more similarities to the stock market than differences, and anyone who spends their day in the stock market then turns and thumbs their nose at bitcoin seems a bit hypocritical.
https://www.forbes.com/sites/jeffreydorfman/2017/05/17/bitco... has more.
The impression I'm getting is that the banks are now realizing it's probably too late for them. For the last 7 years they had some chances, but now with a $150 billion market cap for crypto, they can't purchase any significant share of the technology anymore. That ship has sailed.
So now they can only resort to shit flinging and disparaging remarks like "Bitcoin is a fraud". While at the same time trying to make their own altcoin...
Via FT Alphaville , he says, "I’m going to be really clear in this one. Forget the blockchain, that’s a technology… But… the currency isn’t going to work." The article also points this out, but doesn't differentiate it which has the effect of making him sound hypocritical.
> JPMorgan and many of its competitors, however, have invested millions of dollars in blockchain, the technology that tracks bitcoin transactions. Blockchain is a shared ledger of transactions maintained by a network of computers on the internet.
TD;LR - blockchain tech separate from cryptocurrencies, governments will shut bitcoin down, price is purely speculative and has no real use. Nothing you haven't heard before