Bitcoins are an all digital currency that is gaining a lot of popularity in 2013.
Bitcoins conceptually very different when compared to other currencies. Some of the differences are:
- decentralized universal currency
- not backed by any government or central bank
- can be anonymous
- all transactions are tracked in the p2p network
Here is a great video that summarizes what a bitcoin is and briefly explains how to use them:
Since bitcoins was released to the internet sometime in 2009. There has been a ton of resources that provide in great detail to what bitcoins are and how they work. Please see one of the following sites for more detailed look at bitcoins: