Bitcoin in a nutshell

Bitcoin is a decentralized crypto currency.
Now you have probably heard this a thousand times, but what does it actually mean?
First let's start with the meaning of decentralized. Decentralized means not centralized,or in this case not owned or managed by a single entity.
Next we go to crypto currency which means an encrypted digital currency made to control the generation of the currency and the verification said currency.
So when you add those two definitions you get an encrypted digital currency made to control the generation of the currency and the verification of said currency independently without a central bank.