The simplest way to explain Bitcoin

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To explain what Bitcoin really is for a five years old to understand, imagine that you and your friends has one special sticker that only 21 million of it is in existence in the whole world. Nobody can print more and even the government can't create an extra one. So if many people want the sticker, the price will go up, if nobody wants it, the price will go down. Now, instead of one person keeping the whole sticker, everybody has a record book that show who owns what. And if you try to change your own record so you can get more stickers, others will catch you because their own records doesn't match and they are watching you. That's the simplest way to explain it.