Bitcoin would normally be described as a bubble. It may well be. However it has also emerged currently as an untraceable electronic currency that facilitates criminal transactions on the dark-net, the not so public internet. As such, and as such transactions increase, Bitcoin’s bubble may still have room to run.

However not all are enamoured;

Here’s what Bill Fleckenstein told Eric King of King World News:

Yeah, it’s a giant chain-letter. Everyone will lose all of their money that puts money in it. It’s a complete joke. Even a crappy currency has government taxing ability behind it, or some sort of a standing army or something like that.

Bitcoin is nothing. It’s dot-com mania 3.0 just moved one step over, right? People are so enamoured with communication with their phones and online commerce and all of that. Now they’ve invented what they call a currency to mess around with it, and people are speculating in it the same way they speculated in this other crap. It’s not a currency at all, it’s a complete joke.