Son: Dad, how do you explain bitcoin to your boomer friends? Asking for a friend.

Dad: Son, behave yourself!

Son: This was just a question, Dad. :)

Dad: Bitcoin is "Cloud Money". You can upload it, store it and download it. Simple, right? :-)

Son: .. and with "Lightning" you can even stream money.

Dad: Lightning?

Son: The "Layer 2 instant payment system" thing, that settles withing a fraction of a second.

#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, what stops a wallet from stealing bitcoin?

Son: Hi Dad,

What stops malware from being malicious?

Nothing.

Get a signing device and split wallet functionality from transaction signing.

#Bitcoin

Dad: Son, why do your siblings still have no Bitcoin position?

Son: Hi Dad,

Good question....

I talked to them again and again and again about it, last time at the latest all-time high.

I will do it again, at the next all-time high, every all-time high until they get some sats.

Dad: Let us hope that the next all-time high will not be long in coming.

#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, I do not know what is going on with people these days........

Son: Dad, what's going on?!

Dad: "trust the science" is the most anti science statement ever made.

Questioning science is how we did science!

Son: Gotcha. However, the following "trust related" Bitcoin mantras work perfectly for me.

"In numbers we trust."

"In math we trust."

"Don't trust, verify."

#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, did you back up your 24 words in steel?

Dad: Son, no, not yet.

Son: Without your 24 recovery words, there is no way to access your funds. I can't stress this enough.

Get a "Cryptosteel Capsule". These solid metal devices are cheap, easy to use and super reliable.

Dad, are you using a passphrase?

Dad: Yes, you suggested using one.

Son: Yeah, that's great. However, you have to secure the passphrase as well. In that case, get a "Capsule Duo", one for the recovery seed words and one for the passphrase.

#Bitcoin

Dad: Son, why taproot?

Son: Hi Dad,

Taproot hides non-default multisignature script paths in the collaborative case, it improves Bitcoin Lightning Network privacy and block space efficiency, makes Bitcoin fungible.

Dad: Oh, and what do a taproot addresses look like?

Son: bc1p...

#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, your best teacher is your last mistake.

Son: Hi Dad,

I disagree with your take.

Bitcoin is the best teacher.

#Bitcoin

Son: Dad, Bitcoin will improve the standard of living around the world within a generation or two.

Dad: Son, and how is this to happen?

Son: Let's quote "The Bitcoin Standard" here:

“The better the money is at holding its value, the more it incentivizes people to delay consumption and instead dedicate resources for production in the future, leading to capital accumulation and improvement of living standards”

#Bitcoin

Son: Hi Dad,

If you want to know the truth:

- Don't ask a banker about Bitcoin.

- Don't ask a taxi driver about Uber.

- Don't ask a hotel owner about Airbnb.

Dad: Son, you're right, I'll keep that in mind. ;)

#Bitcoin

Son: Dad, did you get your coins off exchange?

Dad?! This is a friendly reminder to get your coins off exchange. It shouldn't be ignored!

Dad: Son, thank you for your message.

I am thinking of taking my bitcoin off the exchanges when the stack will start to look big enough.

Son: Download a phone wallet like Muun or BlueWallet. Learn to back it up and learn how to restore it using your recovery seed words.

Start learning self-custody with small amounts today. It's a process, and you need to practice it.

Dad: All right, I will take a look at it.

#Bitcoin

Dad: Son, I feel embarrassed asking this question, but what is the difference between a full node and a miner?

How do I get my full node to mine?

Son: Hi Dad,

A full node verifies blocks.

A miner creates blocks.

A full node on a Raspberry Pi is not made for mining. You need specialized equipment to mine.

Dad: Son, that is a pity. I was hoping to make some sats.

#Bitcoin

Dad: Son, you often mention the term "BIP". What is a "BIP" and what is it good for?

Son: Hi Dad,

"BIP" stands for "Bitcoin Improvement Proposal". It's a design document to introduce new features or information to Bitcoin.

Dad: Can everyone participate and submit a BIP?

Son: Basically, yes. See BIP-2 for the full process.

Dad: Son, next time I have an idea, I will write a BIP. ;-)

Son: Everyone is invited to contribute to make Bitcoin better. It's a voluntary system, and we are all Satoshi (except for Craig Wright), so, why not??

#Bitcoin

Son: Dad, did you get your coins off exchange?

#Bitcoin

Dad: Son, it was not easy, but I did it. :-)

Son: I just exchanged a few bills for a paper wallet receipt at the local Bitcoin ATM. It has a private, a public key and two QR codes on it.

Dad: My funds will be fine if I keep the paper wallet in a safe place, right?

Son: Hi Dad,

These thermal paper wallets are intended for temporary handling and transfer only.

Dad: Should I make a photocopy?

Son: Nah. Sweep the sats into your BlueWallet all at once. For long-term storage, better use a signing device like the "Coldcard". Happy Stacking, Dad.

#Bitcoin

Dad: Son, this Bitcoin thing is just a passing fad. Back in my day, we trusted banks and cash! Cash was king.

Son: Hi Boomer Dad,

Times are changing. Bitcoin offers decentralized, permissionless and secure transactions that are final. It's the future!

Dad: I don't understand it, and I don't trust it.

Son: Don't be afraid, Dad.

You might be surprised by the benefits it brings.

#Bitcoin

Son: Dad, there's no friend as loyal as a bitcoin.

Dad: Son, "as a book".

Ernest Hemingway said, "There is no friend as loyal as a book."

#Bitcoin