Bitcoin is a pseudo-anonymous and decentralized medium of exchange for various goods and services, whose current price is highly indeterminable due to it's 'camphor-like' volatility.
(Primedice Username : kingaltcoins)
No offence, but isn't this more simpler than Wendigo's entry?
Moreover Bitcoin is not fully anonymous, what Wendigo explained here:
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
He also forgot to mention about
decentralized currency.
Anyways I always have a hard luck winning at any contests!