Dad: Son, what do you actually do all day besides your family, your work and Bitcoin?
Son: Hi Dad,
I'm a sats collector, a volunteer UTXO curator and a lifelong learner.
Oh, and did I mention I'm on Twitter a lot? ;)
#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, 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, I just bought a bitcoin.
Son: Ahh..
the beginning of a deep friendship!
#Bitcoin
Dad: Son, where do you store your Bitcoin?
Son: Hi Dad,
I store my bitcoin on the blockchain.
Everyone running a node takes care of it.
I use my hardware wallet to control it.
If I want to move it, I broadcast a signed transaction, pay the fee, and a miner packs it into a block for redistribution.
Then, either I as the remaining owner or the new owner, can control the newly created bitcoin output onward.
Dad: If they don't lose their keys.
#Bitcoin
Dad: Son, two bitcoin are better than one.
Son: Hi Dad,
That's true, but some is better than none.
#Bitcoin
Dad: Son, it seems that you either love Bitcoin or hate Bitcoin. Somehow, there is nothing in between.
Son: Hi Dad,
Nobody hates freedom.
#Bitcoin
Son: Dad, there's a major shift happening in how people see Bitcoin.
Dad: Son, what do you mean?
Son: Choosing a career as a Lawyer or Doctor is great, but those in the Bitcoin industry will gain tremendous respect in a few years. Everyone will be eager to work in that field.
#Bitcoin
Dad: Son, I just got my Coldcard hardware wallet today.
The bag is really special. Pretty sure it has more security feature than a banknote.
Son: Hi Dad,
Not sure about that one. ;-)
But yes, the device seems well protected. However, I recommend you download the latest firmware from Coinkite, check it and install it on your Coldcard manually. And also inspect the device visually, and verify the bag number.
Dad: Son, why all the effort, it is "just a calculator".
Son: Haha. Anyway, I will send you a tutorial later.
#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, queston arr you a bitcorn millionaire??
Son: Hi Dad,
Hell no, I wish.. BUT NO!! You're drunk Dad?
Dad: Nooo. Just havin a few drinks with olf friends
Doing some moooon math and fooling around..
Son: Take care of yourself and respect OPSEC rules!
Don't be a loudmouth and protect our privacy!
Enjoy the fact that you understood it early on.
Dad: You ar right, son. I am sooorry. :-(
#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, everybody has heard about Bitcoin.
Many want it, especially when the price goes up.
Few people are actually holding Bitcoin. Why?
Son: Hi Dad,
The difference between the two is action.
First you have to learn, then buy or earn.
You have to make an effort.
Dad: No pain, no gain.
Son: Nah, more like "Work hard, have fun and make a difference." The life is bright in Bitcoinland. :-)
#Bitcoin
Son: Dad, the best weapon you have is always away from view.
Dad: Son, yes, it is between your ears, hidden in your cranial cavity.
Son: Well, I was thinking of bitcoin, but okay.
#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, drinking less alcohol is a great way to save money. Drink less, invest more.
Son: Hi Dad,
I wish you mentioned this 20 years ago.
For max stacking performance, skip the sip.
#Bitcoin
Dad: Son, what makes Bitcoin so powerful?
Son: Anyone, anywhere, can start using bitcoin right now. No permission is required.
Let that sink in, Dad.
#Bitcoin
Dad: Son, I am looking for a Bitcoin documentary. Do you have any recommendations?
Son: Hi Dad,
Sure. I would watch these in the given order:
1. Banking On Bitcoin
2. Bitcoin — Shape The Future
3. The Rise And Rise Of Bitcoin
4. Bitcoin: The End of Money as We Know It
5. Bitcoin: Beyond the Bubble
Dad: Got my popcorn ready for documentary night! Thanks for your recommendations, son.
#Bitcoin
Dad: Son, what is "Cold Storage" exactly?
Son: Hi Dad,
"Cold storage" is a general term for different ways of securing bitcoins offline. Your signing keys are disconnected from the internet.
Dad: So "BlueWallet" must be a hot wallet?
Son: Yes. It's connected to the internet. This is perfectly fine for daily transactions and smaller amounts.
For storing funds long term, use a dedicated hardware wallet like the "Coldcard" or the "Passport". However, multisig – a "signing combination" of various wallet – would be the best solution.
#Bitcoin