Honestly, it seems like barely anyone in this thread even tried to understand it. A poor effort. Here's a pro-tip: don't declare something a WTF until you understand it. Otherwise, you just advertise your ignorance.
Bitcoin is a logical solution for the given requirements (the WTF comes only from the fact that it's a solution looking for a problem). Here's another pro-tip: if you try to understand it, focus less on the mining and more on how you verify transactions (the mining is just there as an incentive, to try and have more computing power in legit users than attackers).
In other news, Bitcoin is somehow still alive.