VIDEO: Bitcoin explained

This snazzy video by Duncan Elms shows you how Bitcoins work. The video was a staff pick at Vimeo and

But why are people choosing to use Bitcoins now is unpacked by a communications expert, Paul Kemp-Robertson, during his Ted Talk.

People are actually trusting businesspeople more than they're trusting governments and leaders. So what's starting to happen, if you think about money, if you sort of boil money down to an essence, it is literally just an expression of value, an agreed value. So what's happening now, in the digital age, is that we can quantify value in lots of different ways and do it more easily, and sometimes the way that we quantify those values, it makes it much easier to create new forms and valid forms of currency. In that context, you can see that networks like Bitcoin suddenly start to make a bit more sense.