Dad: Son, do you have any idea where I can hide my Bitcoin seed recovery phrase?

Son: Hi Dad,

No, but I can tell you many bad hiding places that are used by many and therefore known to burglars.

Under the mattress, master bedroom, bedroom closet, drawers, safes, cabinets, refrigerator/freezer, toilet tank, vases, and suitcases. These places should be avoided.

Dad: What's wrong with suitcases?

Son: Surprisingly, people use a suitcase as a not-so-secure safe. Burglars know this.

#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, what do you mean by "stacking sats" exactly?

Son: Hi Dad,

To me, "stacking sats" is the act of converting an inferior asset into a superior one, namely bitcoin.

Because stacking sats is done often and mostly on a regular basis, this result is a fraction of a bitcoin, measured in "sats".

One bitcoin can be divided into 100,000,000 Satoshis, or "sats" for short.

Dad: Son, let us stack some sats together!

#Bitcoin

Son: Dad, what advice would you have given me back then if you had already known?

Dad: Son, this would be "Pay Yourself First".

Son: Yeah, that's a good one, Dad. That is valuable advice that will pay off over time.

Dad: .. or not, if this advice is not put into practice.

Son: Buy bitcoin first after payday, then dollar cost averaging until the end of the month – or end of cash – whatever comes first.

Dad: LOL. Yes, exactly. Something like that, and let me add "always live below your means".

#Bitcoin

Dad: Son, why do you not use numbers based the word’s indexed number in the BIP39 list instead of the first 4 letters of the recovery word?

Son: Hi Dad,

That's a good question. Let's quote the BIP39 creators to answer it.

"A mnemonic code or sentence is superior for human interaction compared to the handling of raw binary or hexadecimal representations of a wallet seed. The sentence could be written on paper or spoken over the telephone"

I think it is wrong to use numbers when the creators intentionally designed the standard so that we use words.

Dad: Ok, makes sense. Thanks.

#Bitcoin

Son: Dad, Bitcoin is the best money humans ever had.

Bitcoin is secure, decentralized, permissionless, borderless, and settles within an hour, regardless of the value sent.

Dad: Son, these are all indeed fascinating properties, and "One world, one money!"

Son: Exactly, Dad.

Bitcoin is the future.

Embrace it, one block at a time!

#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

Son: Dad, are you prepared?

#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

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, how is your trade going?

Son: Dad, is it you?

#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

Dad: Son, I just found free Satoshis in my wallet!

Son: Hi Dad,

There are no free sats. This is called a "dust attack".

Dad: Is this dust dangerous? What should I do now?

Son: If you spend the dust-tainted coin you will break the privacy of your transactions and the attacker probably will de-anonymize your identity.

Dad: Oh, my goodness! Son, what should I do now??

Son: Use "coin-control" in your wallet to freeze the coin. Never spend the dust. Problem solved.

#Bitcoin

Dad: Son, I met my banker and asked him about Bitcoin. He is not convinced and said it will go to zero.

Son: Hi Dad,

Did you know that banks could soon become redundant? Certainly, he does. These "wealth managers" are funny people.

One day, they inform you that the price will go higher than USD $300,000 and the next day they warn you that you could lose all your money.

Dad: Son, thanks to negative interest rates, even a one-tenth of a percent increase in value would outperform the bank's value proposition.

Son: I wonder why banks still exist. Nowadays, people walk around "with a Swiss bank in their pocket".

#Bitcoin

Dad: Son, what is a passphrase?

Son: Hi Dad,

The BIP39 standard supports an optional 25th word, a so-called passphrase. The passphrase encrypts the seed and creates a new wallet.

Dad: Son, do I have limitations? Size, or something?

Son: On the Coldcard hardware wallet for example, passphrases are limited to 100 characters in length. The on-screen interface supports ASCII characters only.

Dad: Okay, that is a powerful feature!

Son: So little effort and so much more security.

#Bitcoin

Dad: Son, Andrew S. Tanenbaum once said:

"Never underestimate the bandwidth of a station wagon full of tapes hurtling down the highway."

Then this bitcoin stick came to my mind again. I cannot remember the name.

Son: Hi Dad,

You're talking about the "Opendime", I assume. A cheap, private and fast transaction medium, especially when fees go up.

Dad: Yes! Never underestimate an Opendime.

#Bitcoin

Dad: Son, what does "GMI" mean?

Son: Hi Dad,

GMI: Gonna make it.

NGMI: not gonna make it.

WAGMI: we all GMI.

Dad: WAGMI

Son: Yes, Dad.

#Bitcoin

Son: Dad, don't forget to invest in your friendships. Tell your friends about Bitcoin today.

Dad: Son, what is the easiest way to get someone to start using Bitcoin?

Son: Dad, onboarding friends to Bitcoin is like 1-2-3.

1. Install BlueWallet on friend's mobile phone.

2. Create a wallet and get a receiving address.

3. Scan the QR code and send $10 worth of sats.

Dad: So, it costs me $10 to orange pill a friend?

Son: Dad, orange pilling is priceless!

#Bitcoin

Son: Dad, we are about to upgrade humanity.

Dad: Son, how can we do that?

Son: By migrating to a Bitcoin Standard, away from fiat currency.

#Bitcoin

Dad: Son, what are you going to do when Bitcoin wins?

Son: Hi Dad,

Bitcoin has already won.

Many just don't know it yet.

#Bitcoin