It is nice to see that my hard work (and the cost of £9000 a year) is finally starting to pay off. As I actually understand what the f*** people are saying.
I did a little research and according to wikipedia:
Base58 is a group of binary-to-text encoding schemes used to represent large integers as alphanumeric text. It is similar to Base64 but has been modified to avoid both non-alphanumeric characters and letters which might look ambiguous when printed. It is therefore designed for human users who manually enter the data, copying from some visual source, but also allows easy copy and paste because a double-click will usually select the whole string.
For anyone who is interested in what the set looks like:
As you can see 0 has been omitted as it could be confused with 0, capital I and O have been omitted and lower case l. Interesting...