What are bitcoins?

Bitcoin (abbreviated BTC) is a peer-to-peer electronic currency created by the pseudonymous entity, Satoshi Nakamoto. One Bitcoin is currently divided into 100-million smaller units called satoshis.

Prior to the invention of Bitcoin, electronic commerce could not securely operate without relying on a central authority to prevent double-spending.

Bitcoins can be sent, received and managed through various independent websites, PC clients and mobile device software.[8] Physical banknote and coin forms can be traded as well.[9][10] Internationally, Bitcoin can be donated, exchanged for goods and services or traded on exchanges for several other fiat currencies such as the US dollar.

Find more Informations at http://en.wikipedia.org/wiki/Bitcoin

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