• Bitcoin is a new cryptocurrency

• How it works is that you can "mine" for bitcoins

• For a while bitcoin was not worth very much

• Debuted in 2009 and worth a few cents per bitcoin

• Just within the last year the value has skyrocketed

• Highest point at around $1200

• Current value for a bitcoin is $923

• It's not mainstream but it is being accepted in more and more places

• When it exploded many similar currencies started popping up

• Litecoin is the second biggest at around $30