Son: Dad, Bitcoin is hope.

Dad: Seems so, son.

#Bitcoin

Dad: Son, what about trading bots?

Son: Hi Dad,

The bitcoin markets are unpredictable.

Few are able to consistently turn a profit, particularly during a bear market, much less code a program to do so.

Dad: So, that is a taboo?

Son: Anything or anyone claiming guaranteed profits or insider knowledge should be treated as scam or scammer, uhm, with caution.

#Bitcoin

Dad: Son, so, Bitcoin is open-source? What does this mean exactly?

Son: Hi Dad,

The term open source refers to something anyone can independently review, modify and share because its design is publicly accessible.

Dad: So, everything is public and there are no secrets, except your own?

Son: Your private keys are private, of course.

Everything else is public and auditable. In this beautiful asymmetry lies the true power of Bitcoin.

#Bitcoin

Son: Dad, did you know there are 241 valid seed phrases that contain only the same BIP39 word?

Dad: Son, it must have taken hours to test them all.

Son: LOL, no Dad, I used a little Python script for that.

Interestingly, the longer the seed (12, 15, 18 vs. 24 words), the fewer valid combinations there are. Of course, these seeds are for fun and testing ONLY!

Dad: Interesting! 24x bacon is my personal favorite. :-)

Son: Damn, I was just going to use that seed. ;-)

#Bitcoin

Dad: Son, two bitcoin are better than one.

Son: Hi Dad,

That's true, but one is better than none.

Dad: I am happy to hold an entire one.

#Bitcoin

Dad: Son, who is the best Bitcoin custodian?

Son: Hi Dad,

The most qualified bitcoin custodian is you.

Dad: Son, this is highly debatable.

Son: Think about it.

No one is as incentivized to protect your bitcoin, your privacy and yourself as you are.

#Bitcoin

Dad: Son, do not respect the people who do not respect time.

Son: Dad, don't respect the people who don't respect bitcoin.

Dad: Time is money, as the saying goes.

#Bitcoin

Son: Dad, I taught my kids that:

"The more you learn,

the more you earn,

the more you stack,

the more luck you will have."

Dad: Son, "The amount of good luck coming your way depends on your willingness to act."

That is a quote from "Barbara Sher" which basically says the same thing.

Son: .., but without Bitcoin – a huge difference.

#Bitcoin

Dad: Son, what is the legal form of Bitcoin?

Son: Hi Dad,

Bitcoin is an open protocol, not a company.

Companies come and go. On the other hand, once a protocol gets established, it almost never changes.

We only use one internet protocol (TCP/IP) and one email protocol (SMTP).

Dad: That is true. The analogy is interesting....

Son: It looks like the default protocol for a sovereign platform is Bitcoin.

#Bitcoin

Dad: Son, what is the mempool?

Son: Hi Dad,

A mempool, also known as "memory pool", is the queue of pending and unconfirmed transactions for a Bitcoin network node.

Dad: And who controls the mempool?

Son: There is no one global mempool: every node on the network maintains its own mempool, so different nodes may hold different transactions in their mempools.

#Bitcoin

Son: Dad, did you know?

Bitcoin Core is one of the most reviewed software, maybe it's the most reviewed software ever.

Dad: Son, why is that?

Son: Bitcoin Core has the biggest bug bounty ever.

#Bitcoin

Dad: Son, what do you think about __________?

Son: Hi Dad,

Nah. I wouldn't recommend __________.

I'm just interested in Bitcoin. But in the end, everyone has to decide for themselves...

#Bitcoin

Son: 22265090479312778178772228083027296664144

Dad: Son, what is this?

Son: Hi Dad,

This is a secret key.

It's a pretty unassuming integer, but anyone who knows it can control all the bitcoin associated with it.

Dad: Son, this is impressive, interesting and scary at the same time!!

#Bitcoin

Dad: Son, what about newer versions of Bitcoin like Bitcoin Cash and BitcoinSV?

Son: Nah, Dad. Those are shitcoins!

Bitcoin Core 25.0, Bitcoin Core 24.1 Bitcoin Core 23.2, Bitcoin Core 23.1, Bitcoin Core 22.1, … These are newer Versions of Bitcoin.

There are other Bitcoin Core alternatives like "Bitcoin Knots", "Libbitcoin" and "BitcoinJ" that don’t fork the blockchain.

Dad: How that?

Son: Satoshi launched the first Bitcoin client in January 2009. Over time, developers improved it, leading to "Bitcoin Core." Other projects also created compatible Bitcoin versions with the same consensus rules and protocols.

#Bitcoin

Dad: Son, why not keep my Bitcoin on an exchange? They are like banks, and you can use two-factor auth.

Son: Hi Dad,

Exchanges are on-ramps and off-ramps. They are not destinations. Use them as they have been designed, as routes to self-custody and not as banks.

Dad: Even though every withdraw costs a hefty fee?

Son: Yes. Freedom and sovereignty has its price. I don't want anything or anyone to come between me and my bitcoin. For me, there is no such thing as "too complicated", "too cumbersome" or "too expensive" when it comes to self-custody.

#Bitcoin

Dad: Son, why not use gold as store-of-value?

Son: Hi Dad,

Bitcoin is the decentralized financial network.

It allows individuals worldwide to store and send value to one another without intermediary agents like banks or payment processors.

Dad: Okay, well, that sounds promising.

Son: It's a technology that will transform the world.

Gold can't compete with Bitcoin.

#Bitcoin

Son: Hello there

How’s your trading going?

Dad: Son?

#Bitcoin

Son: Dad, Bitcoin is my Ikigai.

Dad: Son, okay, but tell me, what is an "Ikigai"?

Son: "Ikigai" is a Japanese concept referring to something that gives a person a sense of purpose, a reason for being.

Dad: Sounds spiritual... Maybe that is the reason why Bitcoin is changing many positively.

#Bitcoin

Son: Hi Dad,

Men lie, women lie, but code and numbers don't.

Dad: Son, you are speaking the truth.

#Bitcoin

Dad: Son, since the Bitcoin price is tied to the collapsing fiat system, what would the value of Bitcoin look like after the collapse?

Being decentralized and all, who would assign the value?

Son: Hi Dad,

Some use gold as metric.

I prefer 1 BTC = 100,000,000 sats.

Just focus on how many sats you can buy.

Bitcoin prices are determined by the market in real time. Goods and services will soon be denominated in bitcoin or sats.

#Bitcoin