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Nearly everyone has heard about it, but not many really know what it is. I'm talking about the mysterious digital currency known as Bitcoin. I have always been a gold and silver guy person myself when it came to currencies/stores of value other than the US Dollar. But, with more and more demand, I think Bitcoin deserves a further look. There is literature available widely and I will share with you the highlights that you need to know. Then, I will discuss a play in this space that I think is setting up for both a nice short-term trade and a long-term investment. At its most basic level Bitcoin is an Internet-wide distributed financial ledger. You can buy into it by purchasing one of a fixed number of slots, either with cash or by selling a product and service for Bitcoin. You sell out of it by trading your Bitcoin to someone else who wants to buy-in. It's available to anyone with an internet connection and often there are no or very low fees, though this may change as Bitcoin becomes more mainstream. Bitcoins themselves are simply slots in this ledger. That may be a bit technical so what you need to know is that Bitcoin is simply a kind of payment system on a global scale. Any individual can pay another any amount of value of Bitcoin. It simply means they are transferring ownership of the corresponding Bitcoin slot in the ledger and in this sense Bitcoin is a digital bearer instrument. It is a way to exchange money or assets between parties. If you have the money or the asset, you can pay with it; if you don't, you can't. Unlike credit cards, there are no chargebacks; this is novel as such potential has never existed in digital form before. Thus, Bitcoin is a digital currency, whose value is based directly on speculation on future use of the payment system. Current use has some impact, but like many things in the finance world, it's about expectations for what's to come..Right now.......READ MORE