Son: Dad, is your stack bigger today than last week?

Dad: Yes, son.

Son: Did you get your coins off exchange?

#Bitcoin

Dad: Son, can I participate in Bitcoin mining, and what do I need if so?

Son: Hi Dad,

Yes, you can.

If you are interested in home mining, the Twitter user @econoalchemist has published an outstanding article on his webpage.

Go to www.econoalchemist.com and search for the article with title "Home mining for non-KYC Bitcoin."

Dad: That is fantastic... Earning sats after learning how to turn a space heater into a miner.

Son: There are other "investment options" too, but I suggest skipping "cloud mining". It's a scam....

#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, why do you believe some individuals are reluctant to delve into the realm of Bitcoin?

Son: Hi Dad,

Common obstacles to Bitcoin include a general apprehension towards new technology, experiences of being deceived by unreliable shitcoins and their promoters.

Another major concern is the question, "If it's so beneficial, why isn't everyone already using it?"

Dad: I see...

Son: Breaking down these barriers often hinges on establishing personal trust. Dad, consider delving into more Bitcoin discussions with your boomer friends! ;)

#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, 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

Dad: Son, I got a fireproof bag for my hardware wallet and backup card.Would you trust it?

Son: Hi Dad,

Don't trust, verify. ;-)

Dad: I blow-torched it. Lasted about 20 seconds...

What a scam.

Son: I doubt the bag had a proper fire rating, however, to protect your bitcoin from loss and the elements like fire and water, a solid metal backup system is a must.

Secure your (12 or) 24 recovery seed words as well as your passphrases each in a "Cryptosteel Capsule". Everything else breaks or burns.

#Bitcoin

Dad: Son, do I need a "Bitcoin Account" before buying?

Son: Hi Dad,

With Bitcoin, there are no accounts in the sense of customer, bank or user accounts.

What you need is a "Bitcoin Wallet", and a receiving address.

However, you may have several accounts in your wallet. With these accounts, you can then separate the funds, e.g. spending, saving, grandchild 1, grandchild 2, ...

Even an exchange account does not belong to Bitcoin technically. It is an account at a market participant of the Bitcoin ecosystem.

Dad: Oh, I see. Then let's get a Bitcoin wallet.

#Bitcoin

Son: Dad, Become your own bank and stop worrying about banks going bankrupt.

Dad: Son, mother and I now have a fraction of our reserve in bitcoin.

Son: Great.

Every fraction of a bitcoin you own is a safer and more secure store of value compared to the fractional reserve scam used by traditional banks.

#Bitcoin

Dad: Son, do you remember the "Y2K problem"?

Son: Hi Dad,

Yeah, I remember that "Millennium-Bug" FUD.

It's even mentioned in the "The Sovereign Individual" as "Y2K TIME BOMB". You will find it in the "The Transition of the Year 2000" chapter.

Dad, why are you asking?

Dad: I have been reading about the "2038 problem" and wonder if Bitcoin will be affected as well.

Son: No worries, Dad. Bitcoin uses an unsigned integer for the timestamp, so the year 2038 problem is delayed for another 68 years.

#Bitcoin

Son: Dad, buy bitcoin before you need it.

Dad: Son, in my opinion, it is always better to "want" something than to "need" something.

Son: And when you "want bitcoin", you realize that Bitcoin is on every level of Maslow's pyramid.

#Bitcoin

Dad: Son, what do you think. What will your kid answer to the question, "What is something your dad told you?" ?

Son: Hi Dad,

Maybe "I love you" or "You make me proud".

What do you think?

Dad: What about "Inflation is a hidden tax that unelected Central Bankers impose on your wealth, enslaving you as they fill their pockets by their close proximity to the money spigot"?

Son: Hmmm. I will reflect on that...

#Bitcoin

Dad: Son, what excites you so much about Bitcoin?

Son: Hi Dad,

We were born too late to explore the oceans, too early to explore the stars, but just the right time to fix the money!!

Dad: Great time to be alive!

Son: Dad, tell them to buy the ticket and to take the ride … to buy bitcoin. It's not too late, but the time frame in which one can buy bitcoin is slowly closing.

#Bitcoin

Dad: Son, is there a difference between Bitcoin and bitcoin (upper-/lowercase 'b')? I have seen both spellings in publications.

Son: Hi Dad,

When expressed using a small 'b', the word bitcoin usually refers to the unit of currency.

Dad: And the uppercase 'B' ?

Son: Bitcoin with a capital 'B' is typically associated with Bitcoin, the protocol and payment network or to refer to the ecosystem as a whole.

Dad: So, "Saving in bitcoin is investing in Bitcoin."

Son: "Stacking sats makes Bitcoin better."

#Bitcoin

Son: Dad, when it comes to internet money, you should never use, generate or input private keys online.

Dad: Son, you have already mentioned that.

#Bitcoin

Dad: Son, why Bitcoin?

Son: Hi Dad,

Fiat is broken and they can’t fix it.

Bitcoin works, and they can’t break it.

Dad: Okay, agreed, but what about gold?

Son: The century between the gold standard and the Bitcoin standard – the fiat money interregnum – is the real anomaly of history.

Dad: And what about "the next Bitcoin"?

Son: The "next Bitcoin" does not and will never exist.

#Bitcoin

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, owning a fraction of a Bitcoin is life-changing.

Son: Hi Dad,

I am not sure if your 200 bucks worth of bitcoin will be life-changing one day. ;-) But yes.

Dad: It is life-changing. I am reading more today and question the mainstream media more than ever.

Son: I truly agree, Dad. Many more things will change when you fall deeper down the rabbit hole.

Dad: Son, what changed for you?

Son: Everything – from steak to stacking SATs.

#Bitcoin

Dad: Son, if you are feeling down, call mom.

#Bitcoin

Dad: Son, you cannot buy happiness.

Son: Hi Dad,

Who said you can't buy happiness?

You can buy bitcoin.

#Bitcoin