I laugh when people say that Bitcoin has no intrinsic value. If that is the case, try doing it yourself and see how much it costs. There is a cost to bring it to market which means there is some value there. Is it $6000? No. But according to McAfee, it costs him over $1000 to mine a coin...which he pointed out is a lot more than it takes to create Dimon's fiat currnecy.

Thiel is right, bitcoin has great potential. Many of the cryptocurrencies out there are trash and will end up in the toilet. But BTC will keep getting the publicity, the developers, and the speculators. It is in for a great run.