In April 2011, the value of Bitcoin held steady at $0.75. By January 2014, that value had skyrocketed to more than $1,000. It's hard to deny that the digital currency is changing the way we use money and our concept of how money should work. But let's back up a step -- what exactly are bitcoins?
The newest video in our Mashable Explains series covers everything from Bitcoin mining to the advantages of a decentralized currency -- all in under two minutes. After you watch the video above, subscribe to Mashable on YouTube for more.
Previously on Mashable Explains: What is 4K Video?