TEACH ME BITCOIN, SON.'s avatar
TEACH ME BITCOIN, SON.
teachin_bitcoin@www.teach-me-bitcoin-son.com
npub1uzyn...y7g3
We share daily father-son dialogues explaining Bitcoin on Twitter and here on nostr. On Mondays, we send out a recap newsletter with the coolest things Dad has learned during the past week. If you are new to Bitcoin, this will help you get started. If you are already on your journey, this will help you stay up to date, keep away from scams, and avoid the common pitfalls. Our DM is open for your Bitcoin related questions.
image 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
image 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
image Dad: Son, cam yuu hlp be to make a bitcorn paymentt? Son: Dad, what's wrong? Are you drunk?! Dad: Alk goood. coudl be, .. maybe jhst a little too muvh of that finee botttle, .. Son: 4 things not to operate intoxicated: 1. Firearms 2. Heavy machinery 3. Vehicles 4. Bitcoin That's my message for today, Dad. Talk tomorrow. #Bitcoin
image Son: Dad, you can spend a fraction of a bitcoin. Dad: Son, no, thank you. That is out of question. Son: The question is: What is your unit of account. #Bitcoin
image Dad: Son, do you have a list of decentralized altcoins to invest in? Son: Hi Dad, Sure, these are the top 3 decentralized shitcoins: 1. _______________________________ 2. _______________________________ 3. _______________________________ Dad: Son, okay, I got it... No altcoins. Bitcoin has become so expensive. Son: Dad, get some sats instead. #Bitcoin
image Dad: Son, imagine being hahahahahahahahaahahahahahahahahahahahahahahahahahahaahaha hahahahahahahahahahahahahahahahahaahaha haaaahahahahahahahahahahahahahahaha haha. Son: Dad? Dad: Hahahahahahahahahahahahahahahahahaahaha Hahahahahahahahahahahahahahahahahaahaha Son: Dad?! Dad: Imagine being invested in treasury bonds! Son: Hahahahahahaha.... I'm laughing my head off. #Bitcoin
image 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
image Dad: Son, dollar gains from stocks, bonds and ETFs have distracted me from how powerful Bitcoin is. Then I was distracted about the increasing dollar value of my sats. It took me a while... Son: Hi Dad, This happens to most people. As long as you don't fall into the shitcoin trap, you're already one step ahead of many. #Bitcoin
image Dad: Son, wait until the people who just want to be left alone get involved. Son: Hi Dad, What do you mean? #Bitcoin
image Dad: Son, what are "HD Bitcoin Wallets"? Son: Dad, by definition, wallets are private key and public key management systems. In the beginning, every key pair used had to be backed up individually. That's why many have reused addresses, which is bad for privacy, as you know. BIP-32 made Bitcoin better and introduced "HD wallets", which stands for "Hierarchical Deterministic", and not for "High Definition". With this BIP, it's possible to generate multiple addresses (public/private key pairs) derived from a single source of random data (=entropy). Dad: Why was this introduced in the first place? Son: It makes backing up the random bits of data much easier and safer, especially if combined with BIP-39, which introduced the mnemonic seed words, which is just entropy in a human-readable form. #Bitcoin
image 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
image Dad: Son, a man who does not take care of his family cannot be rich. Take care of your family. Son: Hi Dad, I truly agree. Generational wealth is my final goal. Dad: Good, but do not ruin your health along the way. #Bitcoin
image Dad: Son, your best teacher is your last mistake. Son: Hi Dad, I disagree with your take. Bitcoin is the best teacher. #Bitcoin
image 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
image 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
image Dad: Son, you often mention the term "BIP". What is a "BIP" and what is it good for? Son: Hi Dad, "BIP" stands for "Bitcoin Improvement Proposal". It's a design document to introduce new features or information to Bitcoin. Dad: Can everyone participate and submit a BIP? Son: Basically, yes. See BIP-2 for the full process. Dad: Son, next time I have an idea, I will write a BIP. ;-) Son: Everyone is invited to contribute to make Bitcoin better. It's a voluntary system, and we are all Satoshi (except for Craig Wright), so, why not?? #Bitcoin
image 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
image Dad: Son, buying things one cannot afford is the height of unreasonableness. Son: Yes, Dad. Fiat did this. #Bitcoin
image 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
image Son: Hi Dad, "Not stacked sats are not realized wishes." People don't quite understand how immoral that is if they already heard of Bitcoin. Dad: Son, something like the lack of self-care? Son: Yes, you can look at it that way too. Or in other words: If you don't stack these Satoshis, you're stealing from your future. #Bitcoin