#Bitcoin

Dad: Son, how do you generate these 24 seed words? Do you pick random words from your head? Son: Hi Dad, This doesn't work that way. First, these words are special words, taken from the "BIP39 Word List". Second, picking words from your head is not random and therefore a bad idea. I don't always generate a new seed, but when I do, I use dices. Dad: Why dices? How does this even work? Son: Dice rolls provide entropy. You could also flip a coin as a source for randomness. The process is simple and is available in BlueWallet (advanced mode), SeedSigner and in every Coldcard. #Bitcoin

Son: Dad, did you know that from 2100 to 2140, only two bitcoin will be mined! Think about it!! 40 years = two coins! Dad: Son, these coins will be exorbitantly expensive. Son: Exorbitantly expensive, yes, but measured against what?! Real Estate? Gold? Dollars? #Bitcoin

Dad: Son, what do you actually do all day besides your family, your work and Bitcoin? Son: Hi Dad, I'm a sats collector, a volunteer UTXO curator and a lifelong learner. Oh, and did I mention I'm on Twitter a lot? ;) #Bitcoin

Dad: Son, do you have a good Bitcoin investment strategy you would like to share? Son: Hi Dad, Sure. Don't trade, don't sell – that's the strategy. Holding bitcoin is savings, not investing. People with a high time preference will invest their fiat money seeking for fiat gains. #Bitcoin

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

Dad: Son, governments are now developing alternatives to Bitcoin to regain control of their currencies. China: E-Yuan Europe: Virtual Euro America: E-Dollar Switzerland: E-franc Son: Hi Dad, I never opt for those, and I won't use those, I suppose. Bitcoin is the money I chose. #Bitcoin

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

Dad: Son, I am getting old. I need a backup solution for my passphrase. I think getting another Cryptosteel Capsule. I have so many tiles left. Do you know if I can buy only a Capsule container without the tiles? Son: Hi Dad, Yes, you can buy an empty Capsule. This package includes no tiles or separators and is perfect for backing up a passphrase. On the Cryptosteel website, go to 'Products' > 'All Products' > 'Shop'. Use the coupon "TEACH_ME_BITCOIN_SON_CS10" during checkout to get 10% off! Dad: Great, found it. Thank you. :-) #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, 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

Dad: Son, the market capitalization of gold is huge. Son: Hi Dad, Yes, but Bitcoin will surpass the market cap of gold and eat all its monetary value very soon. Dad: Maybe. But it will take a generation or two before Bitcoin will make gold irrelevant. Son: A generation or two of new Bitcoiners, yes. What if Bitcoin will make gold irrelevant within 5 years or so??? #Bitcoin

Dad: Son, why not load the seed words into another wallet and spend all the Bitcoins twice? Son: Hi Dad, That's not how it works. Bitcoins cannot be double spent. Bill Gates once said: “Bitcoin is a technological tour de force.” Think about it... Bitcoins are purely digital and at the same time something that cannot be copied. Dad: That is indeed very impressive, son. #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.

Donate to the Tor Project

Support tools that break the chains of censorship and surveillance

#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, 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

Dad: Son, what do you recommend to your friends? Son: Hi Dad, "Pay attention to Bitcoin and educate yourself." or "Invest in yourself, invest in Bitcoin." Dad: Son, why exactly this recommendation? Son: Because Bitcoin is the hardest money, the greatest monetary and technological revolution since the Internet itself. It's not a fad. Dad: I also believe that Bitcoin will not go away. Son: Bitcoin is here to stay — that's for sure – and it will transform money, the Internet and so much of the world around us. It's just starting... #Bitcoin

Dad: Son, everybody has heard about Bitcoin. Many want it, especially when the price goes up. Few people are actually holding Bitcoin. Why? Son: Hi Dad, The difference between the two is action. First you have to learn, then buy or earn. You have to make an effort. Dad: No pain, no gain. Son: Nah, more like "Work hard, have fun and make a difference." The life is bright in Bitcoinland. :-) #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, two bitcoin are better than one. Son: Hi Dad, That's true, but some is better than none. #Bitcoin