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, do you have a good Bitcoin investment strategy you would like to share?
Son: Hi Dad,
Sure. Don't trade, don't sell – that's the strategy.
Holding bitcoin is savings, not investing.
People with a high time preference will invest their fiat money seeking for fiat gains.
#Bitcoin
Son: Dad, Bitcoiners are just a different lot of people.
They think different.
They act different.
They spend different.
They are different.
Dad: Son, that is pretty obvious to me.
But why?
Son: Because of Bitcoin, Dad.
#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, what are you going to do when Bitcoin wins?
Son: Hi Dad,
Bitcoin has already won.
Many just don't know it yet.
#Bitcoin
Son: Dad, you can spend a fraction of a bitcoin.
Dad: Son, no, thank you. That is out of question.
Son: The question is: What is your unit of account.
#Bitcoin
Dad: Son, cam yuu hlp be to make a bitcorn paymentt?
Son: Dad, what's wrong? Are you drunk?!
Dad: Alk goood. coudl be, .. maybe jhst a little too muvh of that finee botttle, ..
Son: 4 things not to operate intoxicated:
1. Firearms
2. Heavy machinery
3. Vehicles
4. Bitcoin
That's my message for today, Dad. Talk tomorrow.
#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 over-production in Bitcoin.
Dad: Son, what about under-consumption?
Son: In a free market, everything is in perfect balance.
#Bitcoin
Dad: Son, dollar gains from stocks, bonds and ETFs have distracted me from how powerful Bitcoin is.
Then I was distracted about the increasing dollar value of my sats.
It took me a while...
Son: Hi Dad,
This happens to most people.
As long as you don't fall into the shitcoin trap, you're already one step ahead of many.
#Bitcoin
Dad: Son, how do you use your Coldcard?
Connected via USB or air gapped?
Son: Hi Dad,
I'm running my Coldcard wallet air gapped only.
Dad: Son, are you connecting anything Bitcoin related to your computer?
Son: Yes,
the Bitcoin network, using port 8333.
#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, 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, what are "HD Bitcoin Wallets"?
Son: Dad, by definition, wallets are private key and public key management systems. In the beginning, every key pair used had to be backed up individually. That's why many have reused addresses, which is bad for privacy, as you know.
BIP-32 made Bitcoin better and introduced "HD wallets", which stands for "Hierarchical Deterministic", and not for "High Definition". With this BIP, it's possible to generate multiple addresses (public/private key pairs) derived from a single source of random data (=entropy).
Dad: Why was this introduced in the first place?
Son: It makes backing up the random bits of data much easier and safer, especially if combined with BIP-39, which introduced the mnemonic seed words, which is just entropy in a human-readable form.
#Bitcoin
Dad: Son, wait until the people who just want to be left alone get involved.
Son: Hi Dad,
What do you mean?
#Bitcoin
Dad: Son, how do you know Bitcoin has a hard cap of 21M BTC?
Son: Hi Dad,
It's defined in Bitcoin's source code.
Dad: The question is: How do you know that hard cap will stay 21M?
Son: The answer is: Because of game theory.
Who would want to join a Bitcoin chain with modified hard cap?
That would no longer be Bitcoin.
#Bitcoin
Dad: Son, who works actually on Bitcoin to make it better and would "doing nothing" make it worse?
Son: Hi Dad,
Everybody can help to make Bitcoin better.
Nobody can make Bitcoin worse.
#Bitcoin
Dad: Son, your best teacher is your last mistake.
Son: Hi Dad,
I disagree with your take.
Bitcoin is the best teacher.
#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
Dad: Son, what do you answer to those who ignore bitcoin?
Son: H
F
S
P
Dad: Son?
Son: Dad, I would answer "Have Fun Staying Poor".
Dad: This seems to be another formulation of WEF's "You'll own nothing, and you'll be happy" slogan.
#Bitcoin