Henry Ford brought cars to the masses. Mark Zuckerberg brought social networking. And the Winklevoss twins are trying to bring ... Bitcoins.
Remember Bitcoin? It's the virtual currency that isn't really a currency. It was developed back in 2009 by the pseudonymous hacker(s) "Satoshi Nakamoto." The idea was to create money that central banks couldn't print and governments couldn't tax. It would give people an anonymous way to buy and sell things over peer-to-peer networks without middlemen -- or inflation! -- taking a cut. Indeed, the supply of Bitcoins is tightly regulated: anyone can "mine" for them by running a computationally-taxing program, but there isn't that much digital gold in them thar computers. No matter how many people become virtual prospectors, the supply of Bitcoins will grow at a predetermined rate -- until 2040. After that, no more will be created.
In other words, Bitcoin has a massive deflationary bias that makes it semi-worthless as a currency. Because the supply of Bitcoins can't increase to meet increased demand, the price should go up. But if the price goes parabolic, nobody will want to part with their Bitcoins to, you know, actually buy things. (Except to buy illegal things). After all, why use your Bitcoins to buy things today when your Bitcoins will be worth more tomorrow? Now, this hoarding can set off a speculative bubble: People buy because the price is going up. And what if the price stops going up? Well, Bitcoin "investors" will try to take their profits off the table, which will push prices down even more, which will lead to even more selling, and so on. That's how Bitcoin went from $48 to $266 in a month -- and then to $105 in a day.