Dad: Son, is the "Bitcoin Halving" necessary? Son: Hi Dad, Yeah, the halving is necessary. This is how Bitcoin controls its supply. Once the block subsidy expires, transaction fees will pay miners for securing the network. #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, 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, I have many small transactions in my wallet. How can I reorganize these for more efficiency? Son: Hi Dad, I agree that having an optimized UTXO set is a good idea, but you shouldn't link the transaction history by sending all your funds to a new address. You could mix your coins using a mixing service, or just combine the UTXOs from the same source. Dad: How should I know which UTXO can be mixed? Son: Privacy starts with proper coin control. From now on, label each UTXO with the payment reason and the sender's name. This helps for further processing. #Bitcoin

Son: Dad, Bitcoin is hope. Dad: Seems so, son. #Bitcoin

Dad: Son, who else can see my balances on the Bitcoin blockchain? Son: Hi Dad, Everybody can see yours and all other unspent transaction outputs (=UTXO) on the chain. The blockchain is a public ledger, and that's the point. The question is, which coins are yours? ;-) Dad: Is this not a huge privacy issue? Son: You will be fine if you use Bitcoin correctly. Dad: Son, please define "used correctly". Son: Use a new Bitcoin address each time you receive a new payment and consolidate your coins wisely. #Bitcoin

Dad: Son, what about trading bots? Son: Hi Dad, The bitcoin markets are unpredictable. Few are able to consistently turn a profit, particularly during a bear market, much less code a program to do so. Dad: So, that is a taboo? Son: Anything or anyone claiming guaranteed profits or insider knowledge should be treated as scam or scammer, uhm, with caution. #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

Dad: Son, what is the difference between blockchain and Bitcoin? Is there even a difference? Son: Hi Dad, "Blockchain" is the technology that underpins Bitcoin, and transactions are stored in blocks. Think of it as a decentralized database or a decentralized ledger. "Bitcoin" – the coins or the "value" – are the unspent transaction outputs that are stored on the blockchain. Dad: Where on the blockchain? Son: If the blockchain were a material flow or Sankey diagram, you would find the stored value at the ends of the diagram. #Bitcoin

Dad: Son, I had to ask my bank to approve a payment. This was incredibly annoying, and I wasn't even conscious of it before. Bitcoin frees people. Son: Hi Dad, Fuck banks... I know this oppressive feeling well. It's not only payment freedom — there are no borders, no bank holidays, no bureaucracy and no bull shit in Bitcoin. Bitcoin allows you to be in control of your own money. Dad: If everyone knew that, everyone would already be using Bitcoin. #Bitcoin

Dad: Son, I just got my Coldcard hardware wallet today. The bag is really special. Pretty sure it has more security feature than a banknote. Son: Hi Dad, Not sure about that one. ;-) But yes, the device seems well protected. However, I recommend you download the latest firmware from Coinkite, check it and install it on your Coldcard manually. And also inspect the device visually, and verify the bag number. Dad: Son, why all the effort, it is "just a calculator". Son: Haha. Anyway, I will send you a tutorial later. #Bitcoin

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

Dad: Son, is Bitcoin real money? Son: Hi Dad, This depends on how you define the term "money"? Dad: Honestly, I have no idea. Until recently, I was unaware that there is a difference between "currency" and "money". Son: Dad, unfortunately, few people know that. Money is a "Store of Value", a "Medium of Exchange", a "Unit of Account" and a "System of Control". Therefore, bitcoin is the best form of money that we have ever known. However, we are still working on the "Unit of Account" thing. #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, 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

Dad: Son, is bitcoin for individuals only? Son: Hi Dad, No, not at all! Bitcoin is not only for individuals. Publicly traded companies own bitcoin too. Dad: Can you name a few? Son: Visit

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and find out for yourself. Dad: Impressive. These companies hold huge amounts! Son: It's just the beginning. More will follow, imagine what happens then. Oh, and did you notice that countries are on that list as well? #Bitcoin

Dad: Son, since most of us cannot afford Bitcoin – is "Bitcoin Cash" still a good deal? Son: Hi Dad, "Bitcoin Cash" is trash. This is not bitcoin. You can buy one dollar worth of bitcoin. #Bitcoin

Dad: Son, how many Bitcoins does, or did, Satoshi have? Many, I am certain, since he was early. ;-) Son: Hi Dad, Some estimate Satoshi had around 980,000 bitcoins. This number is heavily debated, though. Dad: Estimate based on what? Why do we know that? Son: The blocks mined by Satoshi have a special pattern, like a fingerprint. We do not know who Satoshi was, but we know with high probability the number of bitcoins he had. Satoshis' coins never moved and are considered lost forever. I'm pretty sure even Satoshi felt short bitcoin. ;-) #Bitcoin

Son: Dad, I taught my kids that: "The more you learn, the more you earn, the more you stack, the more luck you will have." Dad: Son, "The amount of good luck coming your way depends on your willingness to act." That is a quote from "Barbara Sher" which basically says the same thing. Son: .., but without Bitcoin – a huge difference. #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