Others on here who are more technically savvy than am I may already be aware of this virtual online currency of which I knew nothing until now. In any case here is a very detailed, somewhat longish, article on what bitcoins are, how they are used, and how to obtain them.
Bitcoin is striving to be a global currency of sorts—one that's not backed by any government or institution. Bitcoins aren't cash, technically. They're an entirely virtual currency. Users exchange online credits for goods and services from select retailers, contractors and online trading houses.
The article is very informative and interesting. Bitcoins have developed as a result of people losing trust in normal forms of currency and an awareness that Cyprus can happen anywhere.
One line for the article which amused me was: Because they're virtual, bitcoins aren't backed by any real world commodity, such as gold or a central bank. Not backed by anything? You mean like the American dollar?