What the hell is Bitcoin?

Even after writing a dozen or so stories about Bitcoin, I sometimes find it difficult to define the cryptocurrency in a concise manner.

In this TEDxBeaconStreet talk, Jeremy Rubin of the MIT Bitcoin Project takes a stab at explaining Bitcoin.

You may or may not still be confused after watching this video.

The Rise and Rise of Bitcoin, a feature-length documentary, offers a better intro to this "magic Internet money" if you're interested.

Meanwhile, Bloomberg notes that Bitcoin is the "world's worst performing currency" of 2014.