That's a great way to simplify it. Even then it sounds so complex. There are going to be a lot of people that miss the boat on this thing.

I like Vinay Gupta's discription, "I'll tell you exactly what Ethereum is: a blockchain for storing code. Bitcoin stores transactions, Ethereum stores programs. Those programs have persistent state on the blockchain and are capable of moving value around the system, hence you can build games, financial instruments and so on. These things are called "smart contracts" for historical reasons - nobody would call them that if they were invented now!"

Bitcoin has dominated so long, I think it is hard for people to believe that Ethereum can be worth more then Bitcoin. But I am starting to think it could be worth much more.