NYS Dept. Financial Services: Bitcoin is a "Threat to National Security"

[willwash]

Can someone explain what bitcoin is. I HAVE a very vague understanding that each unit of the currency has its own unique digital signature and that the algorithm for generating these units has some Mathematical cap on how many can be generated, rendering it physically/chemically/mathematically impossible to counterfeit.

Is there a thread or website that explains the theory behind bitcoin somewhere? The wiki is a little technical.

 

[kpitcher]

Willwash you're correct. Here's a popular description of what bitcoin is.

https://bitcointalk.org/index.php?topic=7269.0