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What are bitcoins?

Bitcoin is a new kind of money. It’s the first decentralized electronic currency not controlled by a single organization or government. Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you’re trading with. This decentralization is the basis for Bitcoin’s security and freedom.

Email let us send letters for free, anywhere in the world. Skype lets us make phone and video calls for free, anywhere in the world. Now there’s bitcoin. Bitcoin lets you send money to anyone online, anywhere in the world. Bitcoin is a community run system not controlled by any bank or government. There’s no wallstreet banker getting rich by standing between you and the people you want to send and receive money from.

Source: http://bitcoin.stackexchange.com

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