RSS.....? wtf

So... I just added an RSS account.  I get it... I understand it makes things come to you and that is both convenient and exciting.  What I don't get on the other hand... Is if that is somthing I link to my blog?  Or do I just sign onto my bloglines account as soon as I get on the internet and it will throw everything at me.  My blog information, facebook, news, email, what?  All of that, some of it?  

I'm not an internet genius and am having a hard time wrapping my mind around what it is, exactly, RSS does and doesn't link to? 

I am very excited if this does what i'm thinking it does and would be useful for any internet frequenter.