Son: Dad,
Stacking something is better than nothing.
Dad: Son, the hardest part is getting started.
Son: Since Relai it's relai easy.
Download the app and you are ready to go.
Don't forget to use code "TEACHIN".
Dad: Why?
Son: 0.5% lower fees for you, and some supports us.
Thank you.
#Bitcoin
Son: Dad, don't forget to invest in your friendships. Tell your friends about Bitcoin today.
Dad: Son, what is the easiest way to get someone to start using Bitcoin?
Son: Dad, onboarding friends to Bitcoin is like 1-2-3.
1. Install BlueWallet on friend's mobile phone.
2. Create a wallet and get a receiving address.
3. Scan the QR code and send $10 worth of sats.
Dad: So, it costs me $10 to orange pill a friend?
Son: Dad, orange pilling is priceless!
#Bitcoin
Son: Dad, retirement is the worst thing you can do for your health.
Dad: Son, this also applies to wealth.
#Bitcoin
Son: Dad, the Tor project is instrumental to true freedom on the internet.
Its main offering, the Tor browser, is a web browser that lets users stay anonymous online and protects them from being tracked by hackers, internet service providers, and even corporations and governments.
For Bitcoin, Tor is such a vitally important piece of infrastructure.
Dad: Son, what do you want to tell me?
Son: The Tor Project is only kept alive by few sponsors and contributors.
They need funds to build and maintain the onion service. Let's donate some bucks.https://donate.torproject.org/
#Bitcoin
Dad: Son, can I participate in Bitcoin mining, and what do I need if so?
Son: Hi Dad,
Yes, you can.
If you are interested in home mining, the Twitter user @econoalchemist has published an outstanding article on his webpage.
Go to www.econoalchemist.com and search for the article with title "Home mining for non-KYC Bitcoin."
Dad: That is fantastic... Earning sats after learning how to turn a space heater into a miner.
Son: There are other "investment options" too, but I suggest skipping "cloud mining". It's a scam....
#Bitcoin
Dad: Son, I got a fireproof bag for my hardware wallet and backup card.Would you trust it?
Son: Hi Dad,
Don't trust, verify. ;-)
Dad: I blow-torched it. Lasted about 20 seconds...
What a scam.
Son: I doubt the bag had a proper fire rating, however, to protect your bitcoin from loss and the elements like fire and water, a solid metal backup system is a must.
Secure your (12 or) 24 recovery seed words as well as your passphrases each in a "Cryptosteel Capsule". Everything else breaks or burns.
#Bitcoin
Dad: Son, are the last 16 digits of π a good passphrase?
Son: Lol, Dad, that's hilarious.
#Bitcoin
Dad: Son, do I need a "Bitcoin Account" before buying?
Son: Hi Dad,
With Bitcoin, there are no accounts in the sense of customer, bank or user accounts.
What you need is a "Bitcoin Wallet", and a receiving address.
However, you may have several accounts in your wallet. With these accounts, you can then separate the funds, e.g. spending, saving, grandchild 1, grandchild 2, ...
Even an exchange account does not belong to Bitcoin technically. It is an account at a market participant of the Bitcoin ecosystem.
Dad: Oh, I see. Then let's get a Bitcoin wallet.
#Bitcoin
Dad: Son, Bitcoin seems to waste a lot of energy.
Will there be a protocol upgrade to change that?
Son: Hi Dad,
If you still think Bitcoin wastes energy, you should sell it.
In fact, you should sell your fridge, your drier, washing machine, TV, stove, car and Christmas lights too.
Alternatively, you could "do your homework" and read the book I gave you lately.
Dad: Which book?
Son: THE BITCOIN STANDARD.
#Bitcoin
Dad: Son, what do you answer to those who ignore bitcoin?
Son: H
F
S
P
Dad: Son?
Son: Dad, I would answer "Have Fun Staying Poor".
Dad: This seems to be another formulation of WEF's "You'll own nothing, and you'll be happy" slogan.
#Bitcoin
Dad: Son, if you are feeling down, call mom.
#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
Dad: Son, had a bad day today... I am still thinking about the huge investment I made at all-time high.
Son: Hi Dad,
I'm sorry to hear that.
Here's the pep talk you might just need to hear:
Think of all those who did the same and sold in panic with a double-digit loss.
Understanding Bitcoin is your best protection.
Confidence in the Bitcoin revolution is key.
Dad: Exactly what I needed to hear. Thank you, son!
#Bitcoin
Son: Dad, I should have paid more attention to Bitcoin in the beginning and I should have bought more.
Dad: Son, don't blame your past.
Be grateful for what it taught you.
I could say the same...
Now I am just glad I changed my mind on Bitcoin and saved my savings.
#Bitcoin
Dad: Son, is it "cool storage" or "cold storage"?
Son: Hi Dad,
It's "cold storage".
The term does not matter, as long it's "your storage" and "your storage" is offline.
#Bitcoin
Dad: Son, do you remember the "Y2K problem"?
Son: Hi Dad,
Yeah, I remember that "Millennium-Bug" FUD.
It's even mentioned in the "The Sovereign Individual" as "Y2K TIME BOMB". You will find it in the "The Transition of the Year 2000" chapter.
Dad, why are you asking?
Dad: I have been reading about the "2038 problem" and wonder if Bitcoin will be affected as well.
Son: No worries, Dad. Bitcoin uses an unsigned integer for the timestamp, so the year 2038 problem is delayed for another 68 years.
#Bitcoin
Dad: Son, meanwhile, I have more trust in Bitcoin than in my bank.
Son: Hi Dad,
You are not the only one. With Bitcoin, you no longer need to trust any centralized entity or any counterparty.
Bitcoin is a trustless system.
Dad: Ironically, the vast majority of people still do not trust mathematics, cryptography and the protocols.
Son: Few understand this.
#Bitcoin
Dad: Son, what do you think. What will your kid answer to the question, "What is something your dad told you?" ?
Son: Hi Dad,
Maybe "I love you" or "You make me proud".
What do you think?
Dad: What about "Inflation is a hidden tax that unelected Central Bankers impose on your wealth, enslaving you as they fill their pockets by their close proximity to the money spigot"?
Son: Hmmm. I will reflect on that...
#Bitcoin
Son: Good morning, Dad.
Bitcoin is in top form today,
as yesterday,
and the day before.
I hope you are as well.
Dad: Son, good morning!
There is nothing to complain about. :-)
#Bitcoin
Dad: Son, did you know Bitcoin is connected to the butterfly effect?
Son: Hi Dad,
What's that?
Dad: Small events can have big consequences.
Like a tweet or an article can change its price.
Are you still buying Bitcoin?
Son: Stacking slowly.
I don't want to cause a hurricane in Texas, Dad!
#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
Son: Dad, volatility is _______________.
Dad: Son, that must be "nerve-wracking".
Volatility is nerve-wracking.
Son: For me, volatility is "the price for being early".
#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
#Bitcoin
Son: Dad, we just got the new car. :-)
Dad: Son, I am glad for you and I wish you many safe trips with it. However, you should have some spare diesel, blankets, food and water in that car. Always.
Son: Yeah, always have backups and a plan B.
#Bitcoin
Dad: Son, how do you use your Coldcard?
Connected via USB or air gapped?
Son: Hi Dad,
I'm running my Coldcard wallet air gapped only.
Dad: Son, are you connecting anything Bitcoin related to your computer?
Son: Yes,
the Bitcoin network, using port 8333.
#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, how can you make a month's salary last forever?
Son: Hi Dad,
That's a damn good question!
I have no idea. Tell me!
Dad: It is quite simple.
Turn it into bitcoin.
#Bitcoin
Dad: Son, two bitcoin are better than one.
Son: Hi Dad,
That's true, but some is better than none.
#Bitcoin
Dad: Son, managing a stock portfolio is a complex and time-consuming business. I do not like it.
Son: Hi Dad,
Buy bitcoin, and you will have a simpler life.
Dad: What percentage would you invest?
Son: Doesn't matter. 100% of your wealth will be in bitcoin anyway – no matter how much you have.
Dad: I do not understand......
Son: Soon you will, Dad.
#Bitcoin
Dad: Son, who created Bitcoin?
Son: Dad, no one actually knows...
Dad: What? No one knows who created Bitcoin?!
Son: I doubt anyone knows who created Bitcoin. It seems to be one of the best kept secrets of modern times. But we do have a name: "Satoshi Nakamoto". This may be a person or a group of persons.
Dad: But Bitcoin has to come from somewhere, right?
Son: Yes, Bitcoin did have a prehistory. There are eight references listed at the end of the Bitcoin white paper. Would you like to take a look?
#Bitcoin