I am going to the following site to understand it myself:
Still Don’t Get Bitcoin? Here’s an Explanation Even a Five-Year-Old Will Understand
http://www.coindesk.com/bitcoin-explained-five-year-old/
I was going to buy some until I read that China is going for its own digital coin.. Also, the Fed is talking about too.
Maybe it should have been written by a 5 year old for better instancing. Looks like a scam.
I must have the IQ of a one year old then if this explains it to a 5 yr old.