Son: Dad, there is no such thing as overproduction in Bitcoin. Bitcoin always paces itself.

Everything works as designed and everything is in perfect order every 10 minutes on average.

Dad: Son, it seems to me that Bitcoin runs as accurately and precisely as a Swiss watch.

Son: Bitcoin is indeed a great timekeeper.

#Bitcoin

Son: Dad,

Bitcoin is an excellent teacher.

Dad: Very few students.

#Bitcoin

Dad: Son, what is a "Bitcoin block" exactly?

Son: Hi Dad,

Think of it as a record of ownership at a certain point in time.

The "point in time" is measured as "block height", which is the number of blocks in the chain between a given block and the very first block in the blockchain.

Dad: So the blockchain can also be used to measure time?

Son: Yes, exactly, that's why Satoshi also called the blockchain a "timechain".

#Bitcoin

Dad: Son, what do you mean by "stacking sats" exactly?

Son: Hi Dad,

To me, "stacking sats" is the act of converting an inferior asset into a superior one, namely bitcoin.

Because stacking sats is done often and mostly on a regular basis, this result is a fraction of a bitcoin, measured in "sats".

One bitcoin can be divided into 100,000,000 Satoshis, or "sats" for short.

Dad: Son, let us stack some sats together!

#Bitcoin

Son: Dad, I'm grateful that you taught me this:

"Good habits and simple rules, if applied, can positively change your whole life."

Dad: Son, how did you put that to use?

Son: Numerous ways, but one of them is stacking sats, no matter what happens.

Dad: Son, that seems to have paid off.

#Bitcoin

Son: Dad, do you know how to get the most value out of a gold coin?

Dad: Son, I have no idea....

Son: Flip it 256 times to generate 256 bits of entropy and convert that entropy into a BIP-39 seed.

#Bitcoin

Son: Dad,

Passphrases are easy to use.

Dad: Son, that is why everybody should use it. Right?

Son: Passphrases are easy to lose.

Dad: Uhm, that is bad. What do you suggest?

Son: That's why everybody should use a Cryptosteel.

Dad: It is not easy to do everything right.

Son: Get a "Capsule Duo". Use one for the recovery seed words and one for the passphrase. Store both Capsules on different locations. That's it.

#Bitcoin

Dad: Son, what if governments ban Bitcoin?

Son: Hi Dad,

It's excellent and impactful advertising.

Dad: Why would this be advertising?

Son: It shows they can't stop it.

Bitcoin is like gunpowder – a point will come where you won't have the option not to have it.

#Bitcoin

Dad: Son, on a scale from 1 to 100,000,000 how satisfied is a bitcoin?

Son: Hilarious, Dad.

#Bitcoin

Dad: Son, history teaches us that we do not learn from history.

Son: Hi Dad,

I understand the frustration with humanity repeating its mistakes, but I think history isn't just a mirror of our failures; it's a reflection of our potential. It shows that while we often stumble, we also have the capacity to grow, adapt, and improve. It's up to us to choose whether to repeat history or learn from it to create a better future.

And now, we have Bitcoin, a new chapter in the history that challenges the way we think about value, values and time.

#Bitcoin

Dad: Son, why do you not use numbers based the word’s indexed number in the BIP39 list instead of the first 4 letters of the recovery word?

Son: Hi Dad,

That's a good question. Let's quote the BIP39 creators to answer it.

"A mnemonic code or sentence is superior for human interaction compared to the handling of raw binary or hexadecimal representations of a wallet seed. The sentence could be written on paper or spoken over the telephone"

I think it is wrong to use numbers when the creators intentionally designed the standard so that we use words.

Dad: Ok, makes sense. Thanks.

#Bitcoin

Dad: Son, what do you want for your birthday?

Son: Dad, I already have everything. :)

Dad: Tell us, what would make you happy?

Son: Bitcoin

Dad: The same thing again and again? Nah. What else?

Son: It's not "the same". Every UTXO is unique, and the transaction will live on the timechain forever.

Dad: Like a diamond. Diamonds are forever...

Son: Bitcoin is actually forever.

#Bitcoin

Son: Hi Dad,

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

Dad: Son, you are speaking the truth.

#Bitcoin

Son: Hello there

How’s your trading going?

Dad: Son?

#Bitcoin

Dad: Son, is the Bitcoin price artificially suppressed?

One Bitcoin should already be worth many times more, as rare as Bitcoins are.

Son: Hi Dad,

Yeah, buy as much as possible of the artificially low-cost asset, and move it off the exchange into cold storage.

They may be able to delay the death of the dollar, but Bitcoin's settlement properties make this type of attack impossible to win.

The question is not "if", but "when".

Dad: At the same time, one Bitcoin is already so expensive that it will be impossible for most to own a whole coin.

#Bitcoin

Son: Hi Dad,

We need to separate money and state.

We need to separate economy and state.

Dad: Son, I cannot agree more. Just like the separation of church and state, it is time we separate money and state, and economy and state as well.

Son: Let's empower individuals and ensure true economic freedom.

Dad: Thank you, Satoshi, for Bitcoin.

#Bitcoin

Son: Dad, do you know that the next halving is estimated at the end of March 2024?

Dad: Son, they are going to cut my portfolio in half?!

Son: First, there is no "they", Dad, and, second "no".

Bitcoin is a protocol, and the protocol does its thing. One of those things is the "halving" that happens every 210,000 blocks.In the 2024 halving, the block reward will drop from 6.25 BTC per block to 3.125 BTC.

Dad: I remember again. With each new block, new coins are put into circulation. This happens every 10 minutes.

Son: Every 10 minutes on average. The halving brings a significant decrease in fresh supply.Think about how precious each and every unit of Bitcoin is.

#Bitcoin

Son: Dad, few people know that our local government's currency is not backed by gold.

Dad: Many do not even want to know.

#Bitcoin

#Bitcoin

Dad: Son, what is a passphrase?

Son: Hi Dad,

The BIP39 standard supports an optional 25th word, a so-called passphrase. The passphrase encrypts the seed and creates a new wallet.

Dad: Son, do I have limitations? Size, or something?

Son: On the Coldcard hardware wallet for example, passphrases are limited to 100 characters in length. The on-screen interface supports ASCII characters only.

Dad: Okay, that is a powerful feature!

Son: So little effort and so much more security.

#Bitcoin