Bitcoin in X Words (or Less)

I've sometimes wondered how I would explain bitcoin to someone who knew nothing about it. While I was working on the previous post, Bitcoin in the News : Sources, I kept looking for a good introductory article on the subject. The best one I found (there are others) was the following:-

Bitcoin: What It Is And How It Works (popsci.com)

That's too much explanation and too much extraneous detail. Here are the most important sentences with some editing suggestions:-

[Bitcoin is; S/P] the digital equivalent of cash online, a system that lets participants [to] send value to anyone else with a Bitcoin address the same way they [like you] might send an email (A).

Every ten [few] minutes, new Bitcoin enter [S/P] the system. "Miners" [use] donate spare or dedicated processing power to help validate transactions around the globe. Bitcoin come [S/P] as rewards [is a reward] for that work (B).

If you want to [To] own Bitcoin, you [first] have to first get a Bitcoin address [wallet], then you have to either get someone who owns Bitcoin to give you some [bitcoin from someone else] or buy it from an exchange (C).

When you own Bitcoin, you’re assigned a value [quantity] and a cryptographic key. With the key, you’re the only person able to transfer that value [quantity] to someone else.

First some notes:-
(A) Doesn't differentiate from interbank transfers or Paypal.
(B) Rearrange.
(C) Or mine it! (but good luck with that)

Then some conventions for the word 'bitcoin':-
- Singular or plural? [S/P] -> I prefer singular, 'bitcoins' as plural
- Capitalized or not? -> No.

Putting that together gives:-

Bitcoin is the digital equivalent of cash, a system to send value like you might send an email. When you own bitcoin, you’re assigned a quantity and a cryptographic key. With the key, you’re the only person able to transfer that quantity to someone else. To own bitcoin, you first have to get a bitcoin wallet, then you have to either get bitcoin from someone else or buy it from an exchange. Every few minutes new bitcoin enters the system as 'miners' use processing power to validate transactions. Bitcoin is a reward for that work.

Maybe I should have started with a dictionary definition. And what about 'blockchain'?