What do you say when asked this question from a friend who has only heard its name mentioned a few times in the news and has no clue. I find myself lately taking the easy way out and suggesting google. I would prefer to give a clearer answer, but usually saying something leads to more questions and more confusion.
If someone could point me to a twitter type answer that would inform and twig their curiosity, i think it would be a better outcome.
For those who are new in bitcoin world, i would suggest that they do research in bitcoin, read, read and understand. And it is very beneficial to attend to the comments here in bitcointalk, i really learn in this forum.