Question

Can someone explain bitcoin to me like I'm a 5 year old.

I'd prefer if it's explained by someone that has actually done it before.

I literally don't get why "mining" to solve math functions does anything, or why blockchains create a block that broadcasts to a bunch of nodes just to get "verified". And it's filled with pleasant-looking computer artwork that I imagine has nothing to do with how bitcoin investors look at things.

Answer 1

Here's how I think of it so far, correct me if I'm wrong:

When someone buys a share from a company, it's the same as him investing in that company.
Then over time, he expects to get returns based on how well that company is doing.

For bitcoin, the company is like a digital currency.
You pay money to the people who created the bitcoin, and expect payment in return.

Answer 2

@Ultrilliam whenever you get a chance would you mind taking a look at this