Ponzi scheme that is exacerbated by global central banking.
I did research on bitcoin and the main beneficiaries are a small group of Anglo / French people who are living in Tokyo. They control 80% of the transactions and they are the ones who halt trading when they worry about a big sell off. The decentralized nature of it means not that no one controls it but rather than no one can see who is controlling it so the myth of freedom and value is spread that way by believers. But the good, old fashioned follow the money leads to just a few people, and those few people are in control of about 3 billion USD worth of computer generated currency.