Son: Dad, I just bought bitcoin. AMA.

#Bitcoin

Son: Dad, FUD (Fear, Uncertainty and Doubt) does not help on your Bitcoin HODL journey.

99.99 percent of the news is irrelevant and makes you feel bad at the end of the day.

Yet, you watch it anyway, Dad. Every single day.

Dad: Son, you are not going to sell your sats and watch the BTC price anyway. Every single hour, 100 times a day.

Son: Touché.

#Bitcoin

Son: Dad, I should have paid more attention to Bitcoin in the beginning and I should have bought more.

Dad: Son, don't blame your past.

Be grateful for what it taught you.

I could say the same...

Now I am just glad I changed my mind on Bitcoin and saved my savings.

#Bitcoin

Dad: Son, did you know Bitcoin is connected to the butterfly effect?

Son: Hi Dad,

What's that?

Dad: Small events can have big consequences.

Like a tweet or an article can change its price.

Are you still buying Bitcoin?

Son: Stacking slowly.

I don't want to cause a hurricane in Texas, Dad!

#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, it's too early for mainstream adoption.

There are otherwise intelligent people who still think Bitcoin is going to zero.

Son: Hi Dad,

Yes, we are so early.

In the year 2050 “Bitcoin is crashing from $20 million per coin to $19 million per coin!

It’s going to zero! I has no intrinsic value!”

Dad: Son, not sure that I will live to see it.

I would be over 100 years old.

#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

Dad: Son, I have seen into the future.

The value of governmental paper bills will continue to go down from here.

Son: Hi Dad,

I have also seen into the future.

I see Bitcoin.

Bitcoin is the brighter future.

#Bitcoin

Dad: Son, who is the CEO of Bitcoin?

Son: Hi Dad,

There is no "CEO of Bitcoin".

Bitcoin is an open, collaborative project that no company or government controls, belonging to the people.

Dad: Son, but someone must have launched it.

Son: Satoshi Nakamoto is the presumed pseudonymous person or group who developed bitcoin, authored the bitcoin white paper and launched the network.

#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

Son: Hello there

How’s your trading going?

Dad: Son?

#Bitcoin

Son: Hi Dad,

Men lie, women lie, but code and numbers don't.

Dad: Son, you are speaking the truth.

#Bitcoin

Son: Dad, someone who loves Bitcoin podcasts is a sign of a cool person who hasn't let me down yet.

Dad: Son, why that conclusion?

Son: First, this person likes to learn and,

Second, this person loves Bitcoin.

That's why this person must be pretty cool. :-)

Dad: However, do you have a podcast recommendation?

#Bitcoin

Dad: Son, what is an "Epoch" in Bitcoin?

Son: Hi Dad,

With a "Bitcoin epoch" people usually mean a period of roughly 4 years (210,000 blocks and about 10 minutes between them) with a specific mining reward.

The first epoch started with the genesis block in 2009, and a block reward of 50 bitcoin.

From May 2020 until some time in 2024, we're in the 4th mining epoch, and the block reward is at 6.25 bitcoin per block.

Dad: I see a bitcoin supply squeeze coming.

Son: Dad, me too.

#Bitcoin

Dad: Son, I am worried about Bitcoin's security model in the long run. What if the block reward is too small?

Son: Don't be, Dad! Not so long ago, transactions were free, then they cost just a few cents, now they cost dollars.

Over time, transaction fees are replacing the block subsidy and remember that block space is scarce.

That's why transactors will likely pay higher fees to get any block space and their transaction confirmed.The fee market is a free market.

Dad: Just like the land prices that are skyrocketing?

Son: Bitcoin's block height, the exchange rate [price] and the transaction fees will go up over time.

#Bitcoin

Son: Dad,

Stacking something is better than nothing.

Dad: Son, the hardest part is getting started.

Son: Since Relai it's relai easy.

Download the app and you are ready to go.

Don't forget to use code "TEACHIN".

Dad: Why?

Son: 0.5% lower fees for you, and some supports us.

Thank you.

#Bitcoin

Dad: Son, is it possible to sell Bitcoins?

Son: Hi Dad,

Yes, it's possible.

Most exchanges that let you buy bitcoins also let you sell bitcoin, for a fee, of course. So, ...

Could you sell? Yeah, sure.

Should you sell? Hell, no!

#Bitcoin

Dad: Son, understanding what Bitcoin is, is damn hard. Explaining it to someone else is even harder.

Have you tried?

Son: Dad, you're absolutely right on that.

Aside from the fact that Bitcoin is different things to different people, the term "Bitcoin" is also used equally for different things.

Dad: The confusion is immense.

Son: "Giacomo Zucco" tweeted no long ago, "Bitcoin's Layer 1 Protocol (BP) is about time. Bitcoin's Layer 2 Protocol (LNP) is about space."

I really like the concept of "BP" and "LNP". Dad, what do you think comes on top of "LNP"?

#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

Dad: Son, I just put my Bitcoin in a safe deposit box.

Son: Hi Dad,

Your bitcoin lives on the blockchain.

Dad: Okay, I put the seed words and my hardware signing device in a safe deposit box...

Son: Dad, trusted third parties are security holes.

Better use mulitsig and store just one leg of your mulitsig quorum in that safe deposit box.

#Bitcoin