So, What The Heck ARE Bitcoins?

Bitcoin is a digital currency, designed to work outside of the traditional banking system. While Bitcoins are not really coins, they can be converted into regular money or transferred as bitcoin currency to pay bills and so on. Think of it perhaps as a form of "Internet Cash". Here is a handy FAQ (Frequently Asked Questions), and also a short video overview below. Initially hailed as being very secure, there have however been some successful hacks and thefts of bitcoins since the system was introduced in 2009 - including the recent Silk Road fiasco.

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