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, 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 do you think about __________?

Son: Hi Dad,

Nah. I wouldn't recommend __________.

I'm just interested in Bitcoin. But in the end, everyone has to decide for themselves...

#Bitcoin

Dad: Son, it was not easy, but I did it. :-)

Son: I just exchanged a few bills for a paper wallet receipt at the local Bitcoin ATM. It has a private, a public key and two QR codes on it.

Dad: My funds will be fine if I keep the paper wallet in a safe place, right?

Son: Hi Dad,

These thermal paper wallets are intended for temporary handling and transfer only.

Dad: Should I make a photocopy?

Son: Nah. Sweep the sats into your BlueWallet all at once. For long-term storage, better use a signing device like the "Coldcard". Happy Stacking, Dad.

#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, retirement is the worst thing you can do for your health.

Dad: Son, this also applies to wealth.

#Bitcoin

Son: Dad, are you prepared?

#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

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, I am worried about Bitcoin's security model in the long run. What if the block reward is too small?

Son: Don't be, Dad! Not so long ago, transactions were free, then they cost just a few cents, now they cost dollars.

Over time, transaction fees are replacing the block subsidy and remember that block space is scarce.

That's why transactors will likely pay higher fees to get any block space and their transaction confirmed.The fee market is a free market.

Dad: Just like the land prices that are skyrocketing?

Son: Bitcoin's block height, the exchange rate [price] and the transaction fees will go up over time.

#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, get your coins off exchange!

Dad: Son, I did that already.

Son: Get more and get those coins off exchange.

#Bitcoin

Dad: Son, you cannot buy happiness.

Son: Hi Dad,

Who said you can't buy happiness?

You can buy bitcoin.

#Bitcoin

Dad: Son, two bitcoin are better than one.

Son: Hi Dad,

That's true, but one is better than none.

Dad: I am happy to hold an entire one.

#Bitcoin

Dad: Son, governments are now developing alternatives to Bitcoin to regain control of their currencies.

China: E-Yuan

Europe: Virtual Euro

America: E-Dollar

Switzerland: E-franc

Son: Hi Dad,

I never opt for those, and I won't use those, I suppose.

Bitcoin is the money I chose.

#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, your Bitcoin mnemonic seed is as unique as you are.

Dad: Son, while there is a vast amount of genetic diversity, humans share a common genetic framework.

The total number of unique genetic codes is astronomical due to the complex combinations possible with the four DNA bases.

Also, genetic information is inherited and passed down through generations – as you know ;)

Son: A Bitcoin mnemonic seed is a unique word sequence generated from random numbers, mapped to a predefined set of words. BIP-85 allows you to derive a child seed from a parent seed.

Dad: Never thought about it that way!

#Bitcoin

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

Son: Hilarious, Dad.

#Bitcoin

Dad: Son, who is the best Bitcoin custodian?

Son: Hi Dad,

The most qualified bitcoin custodian is you.

Dad: Son, this is highly debatable.

Son: Think about it.

No one is as incentivized to protect your bitcoin, your privacy and yourself as you are.

#Bitcoin

Dad: Son, why not keep my Bitcoin on an exchange? They are like banks, and you can use two-factor auth.

Son: Hi Dad,

Exchanges are on-ramps and off-ramps. They are not destinations. Use them as they have been designed, as routes to self-custody and not as banks.

Dad: Even though every withdraw costs a hefty fee?

Son: Yes. Freedom and sovereignty has its price. I don't want anything or anyone to come between me and my bitcoin. For me, there is no such thing as "too complicated", "too cumbersome" or "too expensive" when it comes to self-custody.

#Bitcoin