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, 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

Son: Dad, dying young is not a retirement plan.

Get some bitcoin.

Dad: Nah.

Son: You can buy a fraction of a bitcoin.

Dad: Son, hell, no!! Uhm, I meant yes.

No, on the retirement thing.

Yes, get some bitcoin.

#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, there are valuable life lessons to be learned from Monopoly. Do you know them?

Son: Hi! Which one do you mean, Dad?

Dad: Just the most important:

Don't sit on too much cash.

Choose your investments and stick with it.

The Bank never “goes broke”. If the Bank runs out of money, the Banker issues as much as is needed.

Finally, avoid jail at all cost.

Son: Most of this can be reached by buying Bitcoin.

#Bitcoin

Son: Dad, these are the top 5 things I learned about money while in school.

1. _________________________________

2. _________________________________

3. _________________________________

4. _________________________________

5. _________________________________

Dad: Son, it is a shame...

I am certain that the "health" list will not look any better.

#Bitcoin

Dad: Son,

Bitcoin is too expensive

Bitcoin is old technology

Bitcoin is too complicated

Bitcoin is risky and speculative

Bitcoin will be replaced by another coin

Son: Hi Dad,

No, no, no, no and no.

It would go beyond the bounds of this message to elaborate on this. Talk to you later...

#Bitcoin

Dad: Son, are the last 16 digits of π a good passphrase?

Son: Lol, Dad, that's hilarious.

#Bitcoin

Son: Dad, bitcoin is black market money.

#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

Son: Dad, did you get your coins off exchange?

#Bitcoin

Son: Dad, bitcoin is accepted all around the world.

Dad: Son, I assume that even Flat-Earthers will accept bitcoin one day.

#Bitcoin

Dad: Son, what is Bitcoin's main use case?

Son: Hi Dad,

Use Bitcoin to run a global system of value and settlement.

This is no different than what gold was for 2,000 years and/or what the US dollar has been for the last 70 years or so.

Dad: So, is it both, the "value" and the "settlement"?

Son: Yes, both. And much more ...

#Bitcoin

Dad: Son, why is Bitcoin so hard to understand at first?

Son: Hi Dad,

Lina Seiche once said on a podcast: "The hardest part when learning about Bitcoin is to first unlearn the fiat economics you’ve been taught to believe in. Once you do, Bitcoin becomes the obvious choice."

Dad: Son, it doesn't make it any easier that you are then one of the few.

Son: Yeah, Dad, that's true. Oh, almost forgot, there is a quote from Satoshi Nakamoto himself on this.

"Sorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to."

#Bitcoin

Dad: Son, I'm still happy I changed my mind on Bitcoin.

Son: Hi Dad,

Many people will feel the same way. For everyone else, it will simply be "normal" one day.

#Bitcoin

Dad: Son, tell me something interesting about BIP39.

Son: Hi Dad,

With pleasure. So, did you know that BIP39 is still a proposal, yet everyone is using it?

Dad: So its status is de facto "Final"?

Son: Yeah, you could say so.

#Bitcoin

Dad: Son, the price of bitcoin is so volatile.

Son: Hi Dad,

The higher the bitcoin price, the higher the price fluctuation measured in fiat terms.

Get your coins off exchange and the price will fluctuate even more.

#Bitcoin

Son: Dad, Bitcoin scarcity is intensifying as soaring demand triggers an imminent explosion.

Dad: Son, so does this mean that a price explosion is imminent?

Son: The question is not if, but when.

#Bitcoin

Dad: Son, what about ETH, XRP and Doge?

The media are very positive about them.

Son: Hi Dad,

These are all shitcoins, and shitcoins are true parasites.

I would not catch one.

#Bitcoin

Son: Dad, what advice would you have given me back then if you had already known?

Dad: Son, this would be "Pay Yourself First".

Son: Yeah, that's a good one, Dad. That is valuable advice that will pay off over time.

Dad: .. or not, if this advice is not put into practice.

Son: Buy bitcoin first after payday, then dollar cost averaging until the end of the month – or end of cash – whatever comes first.

Dad: LOL. Yes, exactly. Something like that, and let me add "always live below your means".

#Bitcoin