In my oppinion "time" is based on motion. If there is no motion, there is no time.
Because time is something subjective, created by humans - think about this: If nothing would move, not

even the electrons in your brain, then noone would realize that everything stopped (you wouldn't be able

to think without electron movement in your brain) and nothing would change. There would still be matter,

but there would be no time.
So in a black hole, because of the strong gravity that stops everything, even light, time stands still.

If you know a little bit more about physics you could even explain the phenomenon of time slowing down

at greater speeds, eventually stoping at light-speed.

Imagen electrons revolving around nucleons. You know that moving in circles is a movement that requires constant acceleration. You also know that the energy required to accelerate something depends on the on its current speed (because of its inertia).

Now imagen you are flying at nearly the speed of light and the electrons are revolving around your nucleon, partly in the SAME direction as you are flying and thus would have to got FASTER than light to get around the nucleon if they would travel at a constant speed.

As we all know this is not possible, so the electron movement is slowed down aswell as any other movement inside the spacecraft -> slower movement of the electrical impulses in your brain = slower thinking -> "time" is slowed down.

Having a pretty hard time to explain what I mean in english, but there you go...