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In this paper we introduce a simple discrete stochastic model of eternal inflation that shares many of the most important features of the continuum theory as it is now understood. The model allows us to construct a multiverse and rigorously analyze its properties. Although simple and easy to solve, it has a rich mathematical structure underlying it. Despite the discreteness of the space-time the theory exhibits an unexpected non-perturbative analog of conformal symmetry that acts on the boundary of the geometry. The symmetry is rooted in the mathematical properties of trees, p-adic numbers, and ultrametric spaces; and in the physical property of detailed balance. We provide self-contained elementary explanations of the unfamiliar mathematical concepts, which have have also appeared in the study of the p-adic string. The symmetry acts on a huge collection of very low dimensional "multiverse fields" that are not associated with the usual perturbative degrees of freedom. They are connected with the late-time statistical distribution of bubble-universes in the multiverse. The conformal symmetry which acts on the multiverse fields is broken by the existence of terminal decays -
preprint / 2012