I was just coming here to ask if I was the last person on the planet who doesn't know what bitcoin is all about, and I saw your post. I've heard the term, but I don't have a clue what bitcoin is really all about.
You mind posting a brief description for somebody who doesn't know anything about it?
Bitcoin is a decentralized digital peer-to-peer currency. There are no servers and no bitcoin company. It exists in a peer-to-peer networks of hundreds of thousands of computers all over the world.
The essence of bitcoin is that it is a distributed transaction ledger that keeps tracks of all accounts in a highly secure and accurate manner. It accomplishes this through the use of cryptography and digital signatures.
There will only ever be 21,000,000 bitcoins. They are "mined" with a predictable inflation rate that halves every 4 years. Currently about 12,000,000 bitcoins have been mined. The last bitcoin will be mined around the year 2140, however, by the year 2030 the VAST majority of bitcoin will have been mined.
Bitcoins can be sent instantly* throughout the world to anyone for a VERY small fee (typically fractions of a US penny) or for free. There is no need to go through a bank or money service company like Western Union. Government capital controls are also powerless.
*The transaction is instant, but for security reasons, it is recommended that you wait 6 confirmations before considering a transaction complete. 6 confirmations typically takes 1 hour.