JP Morgan Chase have filed a patent application for a rival to Bitcoin. I have a couple of misgivings. First, it's JP Morgan, the most crooked of the big banks, having racked up $Bns in fines for fraud etc since they helped crash the markets. Secondly, having a centralised virtual currency sort of misses the point. Bitcoin and its ilk are democratised money, being allowed to find their own level, and are finite and can't be re-hypothecated, unlike conventional currencies.