[1 BTC Bounty] Explain Bitcoin in one Sentence

[Magnesium Coin]

Bitcoin is the first ever distributed delusion of money which can be achieved by winning numbers in complicated math strings and can be later stored and exchanged via public ledger.

Primedice login ID : magnesium

[erikalui]

Bitcoin is virtual coin in the form of bits and it is a currency in itself which can hold a value as low as 0 and as high as $10000000000 or even more at any point of time and the currency isn't regulated nor taxed irrespective of the amount a user holds in their bitcoin bank.

[mexxer-2]

Awesome promo, couldn't find the other thread though.
Bitcoin is a currency of the people, for the people and by the people(it can be changed based on majority vote).
User: mesmer
Although I have a much older PD account I would like this to be used(in any promotion or such) now onwards.

[Everybitbit]

Bitcoin is amazing online currency can be earn with easy way and can lose it with easy way too
Prime: everybitbit

[Wendigo]

Bitcoin is a peer-to-peer digital currency that trades on public exchanges and can be instantly transferred to vendors when purchasing goods or paying for services anywhere in the world with the speed of an email anonymously with much lower fees than the traditional banking system.

PD Username: StarLord

[tiggytomb]

Bitcoin is a payment system that has the potential to rival the current currency system which we the people have zero control over.

Here's a bonus poem for ya

Bitcoin, the fruit of Sathoshi's loin
Uniting all people, giving power to none
Some say it is bad, some say it's a fad
But to those in the know, it's really quite rad
Slowly it will rise, bringing truth to the lies
The truth lies in the eyes of many
But sleeps in hearts of few
The time it is coming not a thing we can do
Just embrace it and smile and be glad that you're you.

[dalelimin]

Bitcoin is the digital money for EVERYONE where people join as ONE as they see their future BEGAN.
username: dhale

[MICRO]

Some great entries so far.

I always had trouble explaining people what bitcoin is without getting to deep into it.

Great competition.

[clarkgeneral86]

Bitcoin is an unit of account on a public decentralized trusted ledger.

Username: clarkgeneral

[katerniko1]

Some great entries so far.

I always had trouble explaining people what bitcoin is without getting to deep into it.

Great competition.

totaly agree i want to see more answers its pretty cool to see how people would explain bitcoin in 1 sentence
regards.
-Katerniko1
Edit:
maybe it should be nice to add some restrictions to newbies atleast so someone could not asnwer 20 times with 20 diffrent new accounts?

[BrannigansLaw]

Wow amazing prize! I'll take a shot at it

Bitcoin is a secure, anonymous and extremely cheap transaction processor, that makes you wonder why we even need banks anymore...

Id: Brannigan

[rambeazle]

Bitcoin is the first ever distributed delusion of money which can be achieved by winning numbers in complicated math strings and can be later stored and exchanged via public ledger.

Primedice login ID : magnesium

That really sucks.

my take:

"A purely peer-to-peer version of electronic cash that allows online payments to be sent directly from one party to another without going through a financial institution, where digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending, a solution to the double-spending problem is using a peer-to-peer network which timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work, where the longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power, and as long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers, so the network itself requires minimal structure and messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone."

Come at me haters.

[aprilio]

1. The instant transfers in a peer to peer.
2. Transfer to anywhere
3. The transfer fee is very small.
4. Transaction is irreversible, meaning that once transferred can not be undone.
5. bitcoin transactions are anonymous.
6. Bitcoin is not controlled by any government agency or. limited number

username PD : robocop87

thx

[micromen]

Bitcoin is a decentralised online monetary unit that allows people to transfer money anonymously and without inappropriately high transaction costs secured with blockchain technology.

Primedice username :  Micromen123

[UnknownUsername]

username: unknownuser

Bitcoin is both technology and money.

[Bitcoininspace]

Bitcoin is the beginning of a future where the people will be in power, not the few.

PD account: Mewtwo

[kevinjulio]

whether bitcoin is it? now all focused on bitcoin and a growing number of fans in the mining bitcoin , but it is not very easy for the newbie bitcoin , they must begin with / learn from the tap , mining , giveaway , trading even to the stage of dice to collect bitcoin , and it requires spirit high. greetings success bitcoin , hopefully may be used as field work to reduce the number of unemployed increased. good luck
username: lozackiney

[dre1982]

Bitcoin is the best way for fast secure online payments worldwide.

Nick: dre1982

[Bitcoininspace]

I did this exact same contest around 2 years ago and got some cool answers (I tried looking for the thread but couldn't find it. If someone could find it & link it that'd be great!).

Took me a couple minutes: https://bitcointalk.org/index.php?topic=222097.0

 

[galbros]

Bitcoin is a distributed electronic payment system that has low transaction costs with greater security and privacy than current systems and is especially beneficial for international payments and microtransactions.