Update: The current running total is over $5million and growing weekly! Full list below.
You've heard it in the news, on forums and probably been sitting around the dinner table where the subject has come up. It's complicated by design so it's execution and potential can be simple.
Best presented by the creator themselves:
Bitcoin is a peer-to-peer version of electronic cash that allows payments to be sent directly from one party to another without going through a financial institution. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. – Satoshi Nakamoto
IOW, its a middle finger to the middle man (ie: Banks, VISA, etc) and bridges the value of cash transactions with the efficiency of digital, and everything is publically recorded via the concept of "the blockchain".
And while it's volatility is crazy, a...