BitCoins are a peer-to-peer currency, so since there is no bank or no underlying institution to guarantee them, the funds cannot be confiscated or frozen, ever. You can also set up an acct completely anonymously to avoid taxes, reporting transactions, etc. Great for anarchists and those that want to operate outside of what can be controlled. Remember though that with no underlying guarantor, they are only as valuable as the market dictates. Currently you can buy lots of stuff with Bitcoins, but the value could plummet quickly due to speculators or some unforseen anomoly. Be careful before you sell your house for bitcoins, but I am looking to dabble because they sound, well really cool!