The Bitcoin Network allows pseudonymous peer-to-peer electronic payments worldwide using the internet and is possibly the greatest invention in modern history.
Legacy financial institutions and instruments are rigged in favour of the top 0.1% and Bitcoin offers an alternative for everybody.
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This is a great place to read about the latest related news: news.bitcoin.com/
Someone or some group known as Satoshi Nakamoto described Bitcoin in a white paper that was released on Octoer 31st 2008.
From January 3rd 2009 they then bootstrapped (started and ran) the network for a short while until it was ultimately run by supporters of the notion.
That notion being the ability for two strangers to send each other money digitally and in a trustless manner.
This fixes a long-standing problem in computer science called the Byzantine fault, or more popularly the Byzantine generals problem.
Briefly: Bitcoin prevents double spending without using a trusted intermediary.
No other blockchain technology has managed to be created without a creator, and this is the real magic, since humans can and will become greedy and make that which is pure, unpure.
When the first version of Bitcoin was released it contained multiple software bugs that are documented here. Some have already been fixed, others haven't. So on one hand it cannot be said that Bitcoin was, or is, perfect. Also see this section below for common discussion points attacking the network.
On the other hand, the methods employed to solve the problems of trustless, peer-to-peer electronic payments, when combined in the manner that is seen in Bitcoin, is genius.
There's simple rationale for every aspect of the protocol, which is a refreshing change compared to the opaque financial systems that run the global economy.
Friends and relatives may attack Bitcoin with well-intentioned(?) but ignorant talking points lifted straight from media outlets without fact checking. This is referred to in Bitcoin circles as Fear, Uncertainty and Doubt, or simply "FUD", and is a frustrating but unavoidable experience when one is the resident Bitcoiner.
Here are some of the more common topics you may hear and facts to fight the the FUD:
1. It's slow
The web was slow when first invented, think dial up modems and slow loading screens. Then people started using the web and layers were built on top of TCP/IP, now we have Netflix and free group video calls. The web still uses TCP/IP and likely always will because it is fundamentally reliable and easy to implement.
Similarly like web tech when first invented, Bitcoin is slow, because of the fundamental operating principles of a secure blockchain (see here for more info). Then people started using Bitcoin and some clever people invented The Lightning Network, a Bitcoin Layer 2, where payments are faster, cheaper and more private than Visa.
Like the web, digital payments via Bitcoin will always use Bitcoin, but there are technologies being built on top to make the experience better.
2. Bitcoin is dead
I will simply refererence the site Bitcoin Obituaries, which at the time of writing states Bitcoin has "died" 477 times.
3. Bitcoin has no value (or) Bitcoin is going to zero
stuff
4. Bitcoin is only used by criminals
Criminals will always use the best techonlogy to avoid getting caught