Dad: Son, I am looking for a Bitcoin documentary. Do you have any recommendations?

Son: Hi Dad,

Sure. I would watch these in the given order:

1. Banking On Bitcoin

2. Bitcoin — Shape The Future

3. The Rise And Rise Of Bitcoin

4. Bitcoin: The End of Money as We Know It

5. Bitcoin: Beyond the Bubble

Dad: Got my popcorn ready for documentary night! Thanks for your recommendations, son.

#Bitcoin

Son: Dad, we just got the new car. :-)

Dad: Son, I am glad for you and I wish you many safe trips with it. However, you should have some spare diesel, blankets, food and water in that car. Always.

Son: Yeah, always have backups and a plan B.

#Bitcoin

Dad: Son, how do you generate these 24 seed words?

Do you pick random words from your head?

Son: Hi Dad,

This doesn't work that way. First, these words are special words, taken from the "BIP39 Word List". Second, picking words from your head is not random and therefore a bad idea.

I don't always generate a new seed, but when I do, I use dices.

Dad: Why dices? How does this even work?

Son: Dice rolls provide entropy. You could also flip a coin as a source for randomness. The process is simple and is available in BlueWallet (advanced mode), SeedSigner and in every Coldcard.

#Bitcoin

Son: Dad, these are the top 5 things I learned about money while in school.

1. _________________________________

2. _________________________________

3. _________________________________

4. _________________________________

5. _________________________________

Dad: Son, it is a shame...

I am certain that the "health" list will not look any better.

#Bitcoin

Son: Dad, your Bitcoin mnemonic seed is as unique as you are.

Dad: Son, while there is a vast amount of genetic diversity, humans share a common genetic framework.

The total number of unique genetic codes is astronomical due to the complex combinations possible with the four DNA bases.

Also, genetic information is inherited and passed down through generations – as you know ;)

Son: A Bitcoin mnemonic seed is a unique word sequence generated from random numbers, mapped to a predefined set of words. BIP-85 allows you to derive a child seed from a parent seed.

Dad: Never thought about it that way!

#Bitcoin

Dad: Son, what do you actually do all day besides your family, your work and Bitcoin?

Son: Hi Dad,

I'm a sats collector, a volunteer UTXO curator and a lifelong learner.

Oh, and did I mention I'm on Twitter a lot? ;)

#Bitcoin

Son: Dad, did you know that from 2100 to 2140, only two bitcoin will be mined! Think about it!!

40 years = two coins!

Dad: Son, these coins will be exorbitantly expensive.

Son: Exorbitantly expensive, yes, but measured against what?! Real Estate? Gold? Dollars?

#Bitcoin

Dad: Son, how to avoid losing money trading bitcoin?

Son: Hi Dad,

Best would be not to trade at all.

Dad: The trend is upwards. Why not trading it?!

Son: Bitcoin is like digital gold.

It's harder, stronger, faster and smarter than any money that has preceded it. Bitcoin is far too valuable to bet on it.

Dad: Valuable – that's exactly why I want more of it.

Son: Greed will cause pain. ;-)

#Bitcoin

Son: "My name is ██████ and it's been zero days since I bought some bitcoin."

Dad: Son, are you okay?

Son: Yeah, I just can't get enough.

#Bitcoin

Dad: Son,

Bitcoin is too expensive

Bitcoin is old technology

Bitcoin is too complicated

Bitcoin is risky and speculative

Bitcoin will be replaced by another coin

Son: Hi Dad,

No, no, no, no and no.

It would go beyond the bounds of this message to elaborate on this. Talk to you later...

#Bitcoin

Dad: Son, how can I improvement my online security level?

Son: Hi Dad,

Use a password manager. This is the biggest single security improvement a person can make.

I never click on hyperlinks in emails. Copy-verify-paste them.

I use KeePass to store my usernames, passwords, and links to the login pages for each service.

Dad: Where can I get this "password safe" app?

Son: There you go, https://keepass.info

#Bitcoin

Dad: Son, how long does it take to pay using Lightning?

Son: Hi Dad,

A LN payment takes only a fraction of a second.

Dad: Wrong!

Although payments take only a couple of seconds, you usually need at least two minutes to discuss with the counterparty how fucking awesome the Lightning Network is.

Budget your time accordingly, son!

Son: LOL. Thanks for your advice, Dad. :-D

#Bitcoin

Dad: Son, I just got my Coldcard hardware wallet today.

The bag is really special. Pretty sure it has more security feature than a banknote.

Son: Hi Dad,

Not sure about that one. ;-)

But yes, the device seems well protected. However, I recommend you download the latest firmware from Coinkite, check it and install it on your Coldcard manually. And also inspect the device visually, and verify the bag number.

Dad: Son, why all the effort, it is "just a calculator".

Son: Haha. Anyway, I will send you a tutorial later.

#Bitcoin

Son: Dad, did you know

Bitcoin in self-custody has no counterparty risk.

Dad: I am aware.

#Bitcoin

Dad: Son, why not load the seed words into another wallet and spend all the Bitcoins twice?

Son: Hi Dad,

That's not how it works.

Bitcoins cannot be double spent.

Bill Gates once said: “Bitcoin is a technological tour de force.”

Think about it... Bitcoins are purely digital and at the same time something that cannot be copied.

Dad: That is indeed very impressive, son.

#Bitcoin

Dad: Son, why is Bitcoin so hard to understand at first?

Son: Hi Dad,

Lina Seiche once said on a podcast: "The hardest part when learning about Bitcoin is to first unlearn the fiat economics you’ve been taught to believe in. Once you do, Bitcoin becomes the obvious choice."

Dad: Son, it doesn't make it any easier that you are then one of the few.

Son: Yeah, Dad, that's true. Oh, almost forgot, there is a quote from Satoshi Nakamoto himself on this.

"Sorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to."

#Bitcoin

Dad: Son, everybody has heard about Bitcoin.

Many want it, especially when the price goes up.

Few people are actually holding Bitcoin. Why?

Son: Hi Dad,

The difference between the two is action.

First you have to learn, then buy or earn.

You have to make an effort.

Dad: No pain, no gain.

Son: Nah, more like "Work hard, have fun and make a difference." The life is bright in Bitcoinland. :-)

#Bitcoin

Dad: Son, what do you recommend to your friends?

Son: Hi Dad,

"Pay attention to Bitcoin and educate yourself." or "Invest in yourself, invest in Bitcoin."

Dad: Son, why exactly this recommendation?

Son: Because Bitcoin is the hardest money, the greatest monetary and technological revolution since the Internet itself. It's not a fad.

Dad: I also believe that Bitcoin will not go away.

Son: Bitcoin is here to stay — that's for sure – and it will transform money, the Internet and so much of the world around us. It's just starting...

#Bitcoin

Dad: Son, the fiat rat race has ruined the lives of more families than alcohol.

Son: Hi Dad,

Bitcoin fixes this.

#Bitcoin

Dad: Son, managing a stock portfolio is a complex and time-consuming business. I do not like it.

Son: Hi Dad,

Buy bitcoin, and you will have a simpler life.

Dad: What percentage would you invest?

Son: Doesn't matter. 100% of your wealth will be in bitcoin anyway – no matter how much you have.

Dad: I do not understand......

Son: Soon you will, Dad.

#Bitcoin