Dad: Son, what does SHA256 hashing do?

Son: Hi Dad,

Let's assume a want to hash this message. The hash would be 64 characters long, always, no matter how long the message is.

The hash is always the same if I hash the same message, and there is no way to get back to the original message based on the hash.

Dad: So, hashing is a one-way transformation of information and the information is not the information itself. The information for me and others is that the given information is "true".

Son: Yes, Dad, you can understand it that way.

#Bitcoin

Dad: Son, impressive how to pay with the lightning network in the blink of an eye.

Son: Hi Dad,

Spend your sats responsibly.

#Bitcoin

Dad: Son, is it possible to send funds from a Bitcoin address to itself, I mean to the same address?

Son: Hi Dad,

Yes, "address reuse" is possible, but should be avoided as it unnecessarily reveals common authorship of transactions.

Repeat after me: "Address reuse is privacy abuse."

#Bitcoin

Dad: Son, nobody is spending Bitcoin.

Son: Hi Dad,

Most people only spend Bitcoin when they've exhausted all other options. This is a classic example of Gresham's Law in action.

That's why the "Medium of Exchange" adoption curve trails behind the "Store of Value" adoption curve.

Dad: For how much longer?

Son: In a decade, you'll be able to buy most goods and services in most places around the world denominated in sats.

#Bitcoin

Son: Dad, bitcoin is accepted all around the world.

Dad: Son, I assume that even Flat-Earthers will accept bitcoin one day.

#Bitcoin

Son: Dad, Bitcoin is Bitcoin because of bitcoin (BTC).

Dad: Son, once you understand that concept, you understand many Bitcoin concepts much better.

Son: Yeah, everything makes much more sense.

Dad: Sadly, it takes a huge effort to get there.

Son: Sadly? As if it was part of the plan. ;)

#Bitcoin

Son: Dad, there is no such thing as overproduction in Bitcoin. Bitcoin always paces itself.

Everything works as designed and everything is in perfect order every 10 minutes on average.

Dad: Son, it seems to me that Bitcoin runs as accurately and precisely as a Swiss watch.

Son: Bitcoin is indeed a great timekeeper.

#Bitcoin

Dad: Son, what is a "Bitcoin block" exactly?

Son: Hi Dad,

Think of it as a record of ownership at a certain point in time.

The "point in time" is measured as "block height", which is the number of blocks in the chain between a given block and the very first block in the blockchain.

Dad: So the blockchain can also be used to measure time?

Son: Yes, exactly, that's why Satoshi also called the blockchain a "timechain".

#Bitcoin

Son: Dad, I'm grateful that you taught me this:

"Good habits and simple rules, if applied, can positively change your whole life."

Dad: Son, how did you put that to use?

Son: Numerous ways, but one of them is stacking sats, no matter what happens.

Dad: Son, that seems to have paid off.

#Bitcoin

Dad: Son, do you have a list of decentralized altcoins to invest in?

Son: Hi Dad,

Sure, these are the top 3 decentralized shitcoins:

1. _______________________________

2. _______________________________

3. _______________________________

Dad: Son, okay, I got it... No altcoins.

Bitcoin has become so expensive.

Son: Dad, get some sats instead.

#Bitcoin

Dad: Son, Bitcoin seems to waste a lot of energy.

Will there be a protocol upgrade to change that?

Son: Hi Dad,

If you still think Bitcoin wastes energy, you should sell it.

In fact, you should sell your fridge, your drier, washing machine, TV, stove, car and Christmas lights too.

Alternatively, you could "do your homework" and read the book I gave you lately.

Dad: Which book?

Son: THE BITCOIN STANDARD.

#Bitcoin

Dad: Son, what is a hard fork, and why does it happen?

Son: Hi Dad,

When Bitcoin splits into two chains, we're talking about a fork. This happens based on protocol changes due to different views.

A new version of Bitcoin is created, and you have coins on both chains if you hold your own private keys.

Dad: With time, one will learn what truly matters.

Son: Yes, Bitcoin, the longest chain with the most blocks and computational power behind it.

#Bitcoin

Dad: Son, imagine being hahahahahahahahaahahahahahahahahahahahahahahahahahahaahaha hahahahahahahahahahahahahahahahahaahaha haaaahahahahahahahahahahahahahahaha haha.

Son: Dad?

Dad: Hahahahahahahahahahahahahahahahahaahaha

Hahahahahahahahahahahahahahahahahaahaha

Son: Dad?!

Dad: Imagine being invested in treasury bonds!

Son: Hahahahahahaha.... I'm laughing my head off.

#Bitcoin

Dad: Son, on a scale from 1 to 100,000,000 how satisfied is a bitcoin?

Son: Hilarious, Dad.

#Bitcoin

Son: Dad,

Passphrases are easy to use.

Dad: Son, that is why everybody should use it. Right?

Son: Passphrases are easy to lose.

Dad: Uhm, that is bad. What do you suggest?

Son: That's why everybody should use a Cryptosteel.

Dad: It is not easy to do everything right.

Son: Get a "Capsule Duo". Use one for the recovery seed words and one for the passphrase. Store both Capsules on different locations. That's it.

#Bitcoin

Dad: Son, in addition to Bitcoin, you should invest in emergency supply. Buy water and stockpile food.

Get a hand crank radio.

You never know....

Son: Yes, Dad.

#Bitcoin

Dad: Son, do you think bitcoin will eventually become a global currency?

Son: Hi Dad,

Bitcoin is already a global currency. :-)

If you're asking if bitcoin will be the reserve currency, then yes, I think that is very likely.

The question is not if, but when.

#Bitcoin

Dad: Son, a man who does not take care of his family cannot be rich.

Take care of your family.

Son: Hi Dad,

I truly agree.

Generational wealth is my final goal.

Dad: Good, but do not ruin your health along the way.

#Bitcoin

Son: Dad, there's a major shift happening in how people see Bitcoin.

Dad: Son, what do you mean?

Son: Choosing a career as a Lawyer or Doctor is great, but those in the Bitcoin industry will gain tremendous respect in a few years. Everyone will be eager to work in that field.

#Bitcoin

Dad: Son, is the Bitcoin price artificially suppressed?

One Bitcoin should already be worth many times more, as rare as Bitcoins are.

Son: Hi Dad,

Yeah, buy as much as possible of the artificially low-cost asset, and move it off the exchange into cold storage.

They may be able to delay the death of the dollar, but Bitcoin's settlement properties make this type of attack impossible to win.

The question is not "if", but "when".

Dad: At the same time, one Bitcoin is already so expensive that it will be impossible for most to own a whole coin.

#Bitcoin