Bitcoin is a decentralized digital currency based on p2p technologies similar to bittorent. No central point of control, no issuer, no administrator, open source software, impossible to shut down, very difficult to confiscate from a determined owner. The system is built using cryptography primitives and designed to have all the properties of ideal money. Namely scarcity, durability, fungibility, divisibility, portability, security. There are some problems with universal acceptance, but it is improving rapidly.
Bitcoin during the last 4 years was undoubtedly the most performing assets/investment on the planet, rising from sub 0.01$ in 2010 to 2-30$ in 2011, lingering around 5-10$ in 2012 and rapidly rising in 2013 to over 70$ per Bitcoin. At the moment about 10 million BTC are issued and this amount will steadily increase closer to 21 millions over the next 30 years. There never will be more than 21 million coins. Coins a re divisible to 8 digits after the dot. If all coins but one are destroyed, the single remaining bitcoin is enough to run world economy on it. The system has mechanisms allowing it to adapt over time and it is able to respond to unknown yet threats.
One does not even need to be online to receive Bitcoin transfers. You can transfer 10$ or 10 000 000$ to anyone with an internet connection for free any time of day or night regardless of any banking holidays and importantly without need to trust any third party. It takes 30 to 60 minutes at most to confirm the transaction. Paypal, Western Union, MoneyGramm and SWIFT network are going to be displaced because Bitcoin eliminated a need for a trusted third party to be involved in process of money transfer.
Most important thing: It works! It is proven already. It is pretty much only a matter of increasing adoption at this point.
Vladimir,
I appreciate all of the points you brought, and while they are important, I feel like the average person's eyes would glaze over right around "cryptography primitives." This is intended for an unsophisticated audience. However, I feel like your points about "any amount" and "proven system" are very important in the intro, and I've incorporated them in the following way:
"Bitcoin is a global digital currency that works on the Internet and is peer-to-peer with no central control. It allows transfers
of any amount from anyone, to anyone, at any time, near-instantly, with negligible fees, and no third-party (government or bank or corporation) control. Bitcoin is like digital cash: transactions can not be reversed, as there is no central authority to adjudicate disputes.
The Bitcoin network has been working since 2009 and is just starting to get mainstream attention."