Dear Jamie Dimon "Creating value from nothing" is the way the world works

In light of comments made by Jamie Dimon about Bitcoin and Altcoins, there is one thing to consider. Nothing holds value unless two parties agree it has value. If we woke up tomorrow morning and the all agreed as a country we find seashells more valuable than the dollar, the dollar would be worthless. The thing is that value is not created from the entity itself, value is created from the appreciation of the entity. Its the reason why a Beyonce concert ticket is 300 dollars and a not free. People value her music and therefore pay more for it.

If we go back centuries ago we see that people used trading gold and products as a means of spreading value. I'm sure when the idea of a paper note being worth money first coming out people felt the same way and said the same things. "It's worthless! its just paper! It has no value!". But then once adoption started it didn't seem so worthless anymore.

Now Jamie does have a good point in talking about ICOs creating more of a bubble. If America tried to start the US dollar and 200 other dollars neither of them would likely be adopted. For this reason creating more coins creates too many options for adoption. People want things simple, easy, and reliable; and if we keep pumping out a new company with a man in a turtle neck sweater saying how innovative it will be (sorry Monetha) than we will see either a slower adoption rate or a pop.

Take this as a grain of Himalayan sea salt.