I don't think bitcoins are an economy by itself. If you say economy it is something that is produced and consumed by the people.
In bitcoins there is only a medium of exchange, nothing else. There is no economy to speak of here. The only thing bitcoins would
be in an economy is a way to pay for stuff, but it can't produce stuff, nothing goes around.
It is a medium of exchange but it is also an economy for the simple fact that you can benefit from different services and you can pay with Bitcoin.