People that have never seen a bubble up close can really learn a lot by reading first hand accounts.

That said, the real question is this:  Are we in a bubble, or an adoption curve, or both?

Personally, I think both.  I think that the current exchange rates have a good chance of falling rapidly in the near-ish future, making this month a bubble of sorts.

On the other hand, it is getting harder and harder to imagine bitcoin not taking off and becoming the main settlement system of the world.  We are all over the damn newspapers, we are on TV, everyone is hearing about it now.  I'm nobody, and yet I've been contacted by a couple of reporters.

The dot com bubble was indeed a crazy time.  But it is easy to overlook that before it happened, no one knew what the internet was.  After it was all over, no one didn't know what it was.