What is Bitcoin?

Wondering about Bitcoin? From the many definitions out there -
we picked two,  along with additional related articles and a recently published article from the Palm Beach County Bar Association.

What is Bitcoin? from CNN Money: Technology
People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally.
Investopedia explains 'Bitcoin'
Senate takes a close look at Bitcoin
Bitcoin worth almost as much as gold
Bitcoin has received a measure of support from officials at the Federal Reserve, including chairman Ben Bernanke, who said the currency "may hold long-term promise" as part of the international payment system.
8 things you can buy with bitcoins right now
Bitcoin creator may have ties to Silk Road founder
The founder of the online black market Silk Road and the creator of virtual currency Bitcoin might be close colleagues.That's according to a pair of Israeli computer researchers who have discovered strong connections between two of the cyber world's most mysterious figures.One is Silk Road founder Dread Pirate Roberts, who the FBI claim is currently in their custody. The other is Satoshi Nakamoto, the still-unidentified creator of Bitcoin.

What is Bitcoin: Currency, Property… or Tulips? by Christopher Hopkins, in Technology Articles June 2nd, 2014 - from the Palm Beach County Bar Association: excerpts:
If you heard about bitcoin early, it was likely 2011.  At first, the public’s impression of bitcoin was positive: a digital currency, imbedded in a string of code, which could be transmitted and verified without cost across a peer-to-peer network using open source software.  Readers of this column may recall, “Will Your Law Firm Accept Bitcoin?” from September 2011. A Google Trends search depicts our increasing interest in “bitcoin” over the last three years however the major spikes of attention were premised on bad news: hacking of wallets, ban in China, and the closure of the Mt. Gox exchange. . . .
Few people understand that every bitcoin transaction is verified by broadcasting the details across the network and the information is then posted on a public ledger.  By tracing the ledger and IP addresses, law enforcement does not appear significantly hampered by bitcoin anonymity.  Fewer people understand the reliability of the bitcoin protocol or that blockchain technology has an array of alternate, fascinating uses; in March 2014, UBS boldly praised the “robust and secure way of securing customer funds” yet that report drew scant attention.
Not surprisingly, the combination of money, instability of an emerging technology, and the specter of criminal behavior has drawn the attention of civil lawyers, prosecutors, as well as state and federal agencies which are grappling with how to make claims, bring charges, oversee, regulate, and tax.  A landmark in bitcoin’s development will be its final legal definition: is it a currency? Property?  Something else?  Here is a summary of how various agencies presently categorize bitcoin:. . . rest of the article
agencies included: Florida Office of Financial Regulation: Financial Crimes Enforcement Network: GAO and IRS: Federal Election Commission