Dad: Son, what is the difference between a Bitcoin address and a Bitcoin public key? Son: Hi Dad, That's a good question! An address represents a hash of a public key of an asymmetric key pair. The owner of the key pair can use the private key to sign transactions or messages. Dad: Why sign a message? Son: For example, to prove ownership of an address. Only by using the correct private key a valid signature may be created, which then anyone can verify as valid by using the associated address which, again, represents the public key. #Bitcoin

Dad: Son, what is a "block explorer"? Son: Hi Dad, A block explorer is a website, a tool, that is used to view bitcoin transaction details, unspent transaction outputs (UTXO) and addresses online. Dad: So, is it something like a blockchain browser?? Son: Yeah, a blockchain explorer can be used to follow transactions in the graph until they end in an unspent output, an UTXO. These UTXOs are the actual bitcoin, the "data which have value". Dad: Let's play a game. Who will find the address with the most bitcoins – you or me? #Bitcoin

Son: Dad, two years from now you're going to regret that you didn't stack today. #Bitcoin

Son: Dad, sell those dollars. Dad: Son, and what should I buy with it? Son: Buy bitcoin Dad: Buy bitcoin, bye Dollar. #Bitcoin

Son: Dad, Stacking something is better than nothing. Dad: Son, the hardest part is getting started. Son: Since Relai it's relai easy. Download the app and you are ready to go. Don't forget to use code "TEACHIN". Dad: Why? Son: 0.5% lower fees for you, and some supports us. Thank you. #Bitcoin

Dad: Son, what do you think about __________? Son: Hi Dad, Nah. I wouldn't recommend __________. I'm just interested in Bitcoin. But in the end, everyone has to decide for themselves... #Bitcoin

Son: Dad, don't forget to invest in your friendships. Tell your friends about Bitcoin today. Dad: Son, what is the easiest way to get someone to start using Bitcoin? Son: Dad, onboarding friends to Bitcoin is like 1-2-3. 1. Install BlueWallet on friend's mobile phone. 2. Create a wallet and get a receiving address. 3. Scan the QR code and send $10 worth of sats. Dad: So, it costs me $10 to orange pill a friend? Son: Dad, orange pilling is priceless! #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

Dad: Son, you said that Bitcoins are mined. How can I do this with my computer? Son: Hi Dad, You cannot efficiently mine with your computer. Bitcoin mining is done using special ASIC machines. These machines are expensive, noisy, consume a lot of energy and beside producing bitcoins, these machines emits a lot of heat as by-product. Dad: Bitcoin mining seems highly professionalized. Son: Yes, but mining can also be done at home, despite high electricity cost, heat and noise emissions. #Bitcoin

Son: Dad, whatever happens in the world. Bitcoin does its thing. Dad: Son, and what should that be? Son: A new block – every 10 minutes on average. #Bitcoin

Dad: Son, can I participate in Bitcoin mining, and what do I need if so? Son: Hi Dad, Yes, you can. If you are interested in home mining, the Twitter user @econoalchemist has published an outstanding article on his webpage. Go to www.econoalchemist.com and search for the article with title "Home mining for non-KYC Bitcoin." Dad: That is fantastic... Earning sats after learning how to turn a space heater into a miner. Son: There are other "investment options" too, but I suggest skipping "cloud mining". It's a scam.... #Bitcoin

Dad: Son, what is "Hyperbitcoinization"? Son: Hi Dad, "Hyperbitcoinization is a voluntary transition from an inferior currency to a superior one, and its adoption is a series of individual acts of entrepreneurship rather than a single monopolist that games the system." It's from the "Hyperbitcoinization" article written by Daniel Krawisz back in 2014. You can read it in full length and for free on the "Satoshi Nakamoto Institute" website. Dad: Thank you, will add it to my reading list. Son: The "Satoshi Nakamoto Institute" has published numerous other articles. Here is the link, https://nakamotoinstitute.org. #Bitcoin

Dad: Son, what if the Opendime is lost? Does the Opendime also have recovery words? Son: Hi Dad, An Opendime is made to change hands, like cash. The private key is generated on the device, and without breaking the seal by pushing a pin through the hole marked on the back of the Opendime, there is no way to back it up. Dad: And if I break the seal? Son: Then the private key will be revealed in the private-key.txt file and QR code image. There is no way back, and once unsealed, you should move the funds into another wallet. #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

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

Dad: Son, when will you stop buying Bitcoin? .. at 75K, 100K, 250K, ..? Son: Hi Dad, I'll be buying into bitcoin at 75K, 100K, 250K, 500K and onwards until any or all of the following occur: a) Hyperbitcoinization b) I run out of cash Dad: Son, let us see what happens first. Son: You will see, there is no alternative to bitcoin. #Bitcoin

Dad: Son, do I need a "Bitcoin Account" before buying? Son: Hi Dad, With Bitcoin, there are no accounts in the sense of customer, bank or user accounts. What you need is a "Bitcoin Wallet", and a receiving address. However, you may have several accounts in your wallet. With these accounts, you can then separate the funds, e.g. spending, saving, grandchild 1, grandchild 2, ... Even an exchange account does not belong to Bitcoin technically. It is an account at a market participant of the Bitcoin ecosystem. Dad: Oh, I see. Then let's get a Bitcoin wallet. #Bitcoin

Son: Dad, Measuring your wealth in fiat is _____ . Measure it in bitcoin and time instead. Dad: Yes – an exiting time. #Bitcoin

Dad: Son, in addition to Bitcoin, you should invest in emergency supply. Buy water and stockpile food. Get a hand crank radio. You never know.... Son: Yes, Dad. #Bitcoin

Dad: Son, I got a fireproof bag for my hardware wallet and backup card.Would you trust it? Son: Hi Dad, Don't trust, verify. ;-) Dad: I blow-torched it. Lasted about 20 seconds... What a scam. Son: I doubt the bag had a proper fire rating, however, to protect your bitcoin from loss and the elements like fire and water, a solid metal backup system is a must. Secure your (12 or) 24 recovery seed words as well as your passphrases each in a "Cryptosteel Capsule". Everything else breaks or burns. #Bitcoin