We have all been hearing about the new revolution that is the mighty 'Bitcoin' but what exactly are they. From what i can see, they do not exist in real life, the value fluctuates wildly, they are not backed by any monetary institution, and if your bitcoin wallet or vault? Is hacked into and your bitcoins are stolen, theyn tough luck, you lose. But i still do no know what they are (if they are anything) in fact. Is buying bitcoin just one of the worst ways of gambling with your hard earned money? Thank you in advanced. Confused from the middle of nowhere.