These banks are simply butthurt that their do not control Bitcoin so they believe they can build an alternative that they control so they can compete against it. There is zero value in the banks' protocol for anyone other than the banks. Whereas, Bitcoin will have value for anyone and everyone that invests in it or uses it. So, unless the banks open up their protocol to the public, like Bitcoin, and allow people to innovate and make money on their platform, Bitcoin has it beat.
IMO, it's fairly stupid to not have a tiny speculative investment in Bitcoin at this point. But then again, I feel stupid for not investing in Google when I had the chance and knew it was the standard for search.
Professor Hubert Farnsworth: Dear Lord! That's over 150 atmospheres of pressure!
Fry: How many atmospheres can the ship withstand?
Professor Hubert Farnsworth: Well, it's a space ship, so I'd say anywhere between zero and one.
Unless the Bitcoin protocol is broken, Bitcoin will always have value. Bitcoin is a finite resource. The value will be determined by the marketplace.
There are other alternative virtual currencies just like there are other alternative network protocols. However, as with almost any technology, the first widely-accepted implementation becomes the standard. TCP/IP is far from the best network protocol - but it is good enough. Bitcoin is far from the best virtual currency - but it is the most widely accepted.
I think it's fairly stupid at this point not to have a small amount of Bitcoin just in case it really starts to be accepted.
Take care of the luxuries and the necessities will take care of themselves. -- Lazarus Long