Son: Dad, did you know that there are 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976 Bitcoin private keys?

Dad: Son, guess which ones are mine. ;-)

Jokes aside.

How likely is it that someone could guess one?

Son: In short, extremely unlikely.

Dad: Extremely unlikely? So, it is possible?!

Son: Extremely unlikely because there are more Bitcoin private keys than atoms in the universe.

Dad: Okay, somehow reassuring.

#Bitcoin

Son: Dad, in the future, you will have to get on a waiting list to buy a fraction of a bitcoin.

Dad: Son, I am not made for waiting lists.

I prefer to get my fraction right now.

#Bitcoin

Dad: Son, I believe that Bitcoins will soon become the most valuable thing ever created.

Son: Hi Dad,

Bitcoin was discovered, not invented.

When you grasp this, your perspective on the multiverse undergoes a total transformation.

Dad: Okay. However, I cannot wait for SAT/USD parity.

Son: It's not "if", but "when".

Until then, sats are the standard!!

#Bitcoin

Son: Dad, here's the four-point plan to not screw up with your bitcoin.

1. Never store a 12/24 recovery seed words online, not even encrypted

2. Never type a 12/24 recovery seed words onto any online device

3. Only enter the 12/24 recovery seed words directly onto a hardware wallet

4. Only record the 12/24 recovery seed words onto durable physical medium such as a Cryptosteel Capsule or a Cryptosteel Cassette.

Dad: Son, sounds like a plan.

#Bitcoin

Dad: Son, is there a difference between Bitcoin and bitcoin (upper-/lowercase 'b')? I have seen both spellings in publications.

Son: Hi Dad,

When expressed using a small 'b', the word bitcoin usually refers to the unit of currency.

Dad: And the uppercase 'B' ?

Son: Bitcoin with a capital 'B' is typically associated with Bitcoin, the protocol and payment network or to refer to the ecosystem as a whole.

Dad: So, "Saving in bitcoin is investing in Bitcoin."

Son: "Stacking sats makes Bitcoin better."

#Bitcoin

Dad: Son, how does Taproot make Bitcoin fungible?

Son: Hi Dad,

With Taproot/Schnorr, all on-chain transaction outputs for spending look the same.

Dad: All transaction outputs? Even multisig??

Son: Yes, multisig and opening or closing lightning channel look like any other normal Bitcoin transaction. There are no more "multisig m of n" labels shown in the Block Explorer.

Users can combine signatures into one key and use it as programmable funds, also known as "smart contracts", without identifying the purpose, which improves both privacy and fungibility. The best is, these transactions are smaller and cheaper.

#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

Dad: Son, tell me something interesting about "Bitcoin Transactions".

Son: Hi Dad,

Ok. A "Bitcoin Transactions" can consist of many inputs and many outputs. The inputs are outputs of previous transactions which you want to spend, and each output has values assigned to an address.

In general, a transaction is expected to have 2 outputs, the "destination address" and the "change address".

Dad: So, the remainder of the funds are moving on chain as well?

Son: Yes, you always have to move the whole unspent transaction output, also known as "UTXO" or coin.

#Bitcoin

Son: Dad,

Bitcoin does not over-promise nor under-deliver.

Bitcoin simply does its thing.

Everyone knows the rules, and you must follow them if you want to use Bitcoin.

Dad: Son, and you can count on these rules!

This is a wonderful and powerful thing.

Son: Bitcoin is "Rules without Rulers".

#Bitcoin

Dad: Son, owning a fraction of a Bitcoin is life-changing.

Son: Hi Dad,

I am not sure if your 200 bucks worth of bitcoin will be life-changing one day. ;-) But yes.

Dad: It is life-changing. I am reading more today and question the mainstream media more than ever.

Son: I truly agree, Dad. Many more things will change when you fall deeper down the rabbit hole.

Dad: Son, what changed for you?

Son: Everything – from steak to stacking SATs.

#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

Son: Dad, Become your own bank and stop worrying about banks going bankrupt.

Dad: Son, mother and I now have a fraction of our reserve in bitcoin.

Son: Great.

Every fraction of a bitcoin you own is a safer and more secure store of value compared to the fractional reserve scam used by traditional banks.

#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, I want one of those 21M Bitcoin so bad!!!

Son: Hi Dad,

I can understand this desire! One thing you should know: There will never be 21M BTC.

Dad: Why not 21M Bitcoin? Was I lied to?

Son: No, no one was lied to. Here is why: The block 501726 was generated without reward (-12.5 BTC), and block 526591 with half a reward (-6.25 BTC)

Also, the 50 BTC in the Genesis Block can't be spent, even if Satoshi comes back.

On top of that, ~4 million BTC have been lost. Well, those coins existed, but were lost. Maybe one or the other Satoshi will find its way back into circulation. However, keep stacking sats.

#Bitcoin

Son: Dad, I just bought bitcoin. AMA.

#Bitcoin

Dad: Son, I feel embarrassed asking this question, but what is the difference between a full node and a miner?

How do I get my full node to mine?

Son: Hi Dad,

A full node verifies blocks.

A miner creates blocks.

A full node on a Raspberry Pi is not made for mining. You need specialized equipment to mine.

Dad: Son, that is a pity. I was hoping to make some sats.

#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

Son: Dad, did you know

Bitcoin in self-custody has no counterparty risk.

Dad: I am aware.

#Bitcoin

Dad: Son, Bitcoin is like a rockstar.

All news is good news.

Son: Hi Dad,

You're absolutely right. The more people talk and think about Bitcoin, the more the virus spreads.

#Bitcoin

Son: Dad, the coins nobody knows you have are worth more.

Privacy first.

Dad: This message self-destructs in 5, ...

#Bitcoin