This Video Explains Everything You Need to Know About Bitcoin in Three Minutes

What is a bitcoin? Like exactly? It's digital currency and it's been around for a while now so what's all the fuss these days? It's because more and more places are accepting bitcoins as real currency. If you're still a little bit confused on where bitcoins come from (or how you can just invent digital currency), watch the video explainer above by Duncan Elms. Get to mining. [Duncan Elms via Digg]


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I am still super confused - so, I let my computer do all these calculations to get the solution which will help me unlock a block of bitcoins - are these bitcoins now mine? if so then what, I have a bunch of bitcoins that I can spend on goods or services? can these bitcoins turn back into real money as we know it? How can I just generate digital money and spend it elsewhere? what are they getting?