Hi there
What's the most simple way to describe what bitcoin is for people?
Will be cool to read in the comments some new creative ways to do that!

If you want to tell to them in a simply way and in way they can understand it well, just tell to them that it is a new form of money at the same time you can use it as an investment. But, I think 7 year old child can't understand it because their mindset is still in playing not doing money.