It's not an "electronic payment system", it's a peer-to-peer electronic cash system. The difference is important. Bitcoin is money, not a payment system.

jgbtc

Fabs

Bell_curve

This is one of the simplest explanations of how Bitcoin works I have ever read.

I think this is a must-read for anyone new to Bitcoin.

bitcoin_beginners

This is one of the simplest explanations of how Bitcoin works I have ever read. 

I think this is a must-read for anyone new to Bitcoin.