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 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
image Dad: So, son, bitcoin is the hardest money? Son: Hi Dad, Yeah, for sure. Dad: I rarely hear you talk about remaining risks like broken cryptography by Quantum Computing, Implementation failures and mining centralization. Are they fixable? Son: Probably. Broken crypto is a threat to all online security, and the majority of precious metals are simply traded electronically. I, personally, would not bet on gold. #Bitcoin
image Dad: Son, owning a fraction of a Bitcoin is life-changing. Son: Hi Dad, I am not sure if your 200 bucks worth of bitcoin will be life-changing one day. ;-) But yes. Dad: It is life-changing. I am reading more today and question the mainstream media more than ever. Son: I truly agree, Dad. Many more things will change when you fall deeper down the rabbit hole. Dad: Son, what changed for you? Son: Everything – from steak to stacking SATs. #Bitcoin
image 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
image Dad: Son, impressive how to pay with the lightning network in the blink of an eye. Son: Hi Dad, Spend your sats responsibly. #Bitcoin
image 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
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, what is a hard fork, and why does it happen? Son: Hi Dad, When Bitcoin splits into two chains, we're talking about a fork. This happens based on protocol changes due to different views. A new version of Bitcoin is created, and you have coins on both chains if you hold your own private keys. Dad: With time, one will learn what truly matters. Son: Yes, Bitcoin, the longest chain with the most blocks and computational power behind it. #Bitcoin
image 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
image 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
image 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
image Dad: Son, do not respect the people who do not respect time. Son: Dad, don't respect the people who don't respect bitcoin. Dad: Time is money, as the saying goes. #Bitcoin
image Dad: Son, can you please help me with this new social media thing? Son: Hi Dad, Sure, but first, let me teach you how to take a selfie without cutting off your head. Imagine if Bitcoin was this difficult ;) #Bitcoin
image Son: Dad, when in comes to Bitcoin, there are two things you have to control. 1. Your emotions 2. Your private keys Dad: Son, it is simple, but not easy. #Bitcoin
image Son: Dad, buy bitcoin before you need it. Dad: Son, in my opinion, it is always better to "want" something than to "need" something. Son: And when you "want bitcoin", you realize that Bitcoin is on every level of Maslow's pyramid. #Bitcoin
image Dad: Son, what is the legal form of Bitcoin? Son: Hi Dad, Bitcoin is an open protocol, not a company. Companies come and go. On the other hand, once a protocol gets established, it almost never changes. We only use one internet protocol (TCP/IP) and one email protocol (SMTP). Dad: That is true. The analogy is interesting.... Son: It looks like the default protocol for a sovereign platform is Bitcoin. #Bitcoin
image Dad: Son, are the last 16 digits of π a good passphrase? Son: Lol, Dad, that's hilarious. #Bitcoin
image Dad: Son, what if governments ban Bitcoin? Son: Hi Dad, It's excellent and impactful advertising. Dad: Why would this be advertising? Son: It shows they can't stop it. Bitcoin is like gunpowder – a point will come where you won't have the option not to have it. #Bitcoin
image Dad: Son, what stands the term "RBF" for? Son: Hi Dad, "RBF" stands for "Replace By Fee". "RBF" allows to replace a stucked or unconfirmed transaction with a new one that uses a higher fee. Dad: Son, this seems a useful feature to save fees. Son: Yes. Please note that the "replacement" transaction uses the same inputs as the original one. #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