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
TEACH ME BITCOIN, SON.
teachin_bitcoin@www.teach-me-bitcoin-son.com
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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.
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
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, 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, today our youngest told me that he is considering a career in organized crime.
Dad: Son, what did you say?
Son: "Government or private sector?"
#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
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, 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
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
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, is your stack bigger today than last week?
Dad: Yes, son.
Son: Did you get your coins off exchange?
#Bitcoin
Son: Dad, I just bought bitcoin. AMA.
#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
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, on a scale from 1 to 100,000,000 how satisfied is a bitcoin?
Son: Hilarious, Dad.
#Bitcoin
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
Dad: Son, I just bought a bitcoin.
Son: Ahh..
the beginning of a deep friendship!
#Bitcoin
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
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
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