Dad: Son, I believe that Bitcoins will soon become the most valuable thing ever created. Son: Hi Dad, Bitcoin was discovered, not invented. When you grasp this, your perspective on the multiverse undergoes a total transformation. Dad: Okay. However, I cannot wait for SAT/USD parity. Son: It's not "if", but "when". Until then, sats are the standard!! #Bitcoin

Dad: Son, how is your trade going? Son: Dad, is it you? #Bitcoin

Dad: Son, drinking less alcohol is a great way to save money. Drink less, invest more. Son: Hi Dad, I wish you mentioned this 20 years ago. For max stacking performance, skip the sip. #Bitcoin

Dad: Son, I met my banker and asked him about Bitcoin. He is not convinced and said it will go to zero. Son: Hi Dad, Did you know that banks could soon become redundant? Certainly, he does. These "wealth managers" are funny people. One day, they inform you that the price will go higher than USD $300,000 and the next day they warn you that you could lose all your money. Dad: Son, thanks to negative interest rates, even a one-tenth of a percent increase in value would outperform the bank's value proposition. Son: I wonder why banks still exist. Nowadays, people walk around "with a Swiss bank in their pocket". #Bitcoin

Dad: Son, since the Bitcoin price is tied to the collapsing fiat system, what would the value of Bitcoin look like after the collapse? Being decentralized and all, who would assign the value? Son: Hi Dad, Some use gold as metric. I prefer 1 BTC = 100,000,000 sats. Just focus on how many sats you can buy. Bitcoin prices are determined by the market in real time. Goods and services will soon be denominated in bitcoin or sats. #Bitcoin

Dad: Son, what is a Bitcoin node? Son: Hi Dad, Bitcoin nodes act like counterfeit detection machines, verifying transactions and ensuring their legitimacy. If a transaction is fraudulent, the nodes reject it, helping prevent fraud and keeping the network secure. Dad: Do I need to run my own? Son: If you could, you should. If you don't run your own, you're simply using someone else's node. #Bitcoin

Dad: Son, what about ETH, XRP and Doge? The media are very positive about them. Son: Hi Dad, These are all shitcoins, and shitcoins are true parasites. I would not catch one. #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, what is a "PSBT"? Son: Hi Dad, "PSBT" stands for "Partially Signed Bitcoin Transactions". It's a data format that allows wallets and other tools to exchange information about a Bitcoin transaction and the signatures necessary to complete it. Dad: Ok, that is basically what makes air-gapped Bitcoin possible? Son: Using a PSBT makes it possible to do this in a standardized way. The first version of PSBT (version 0) is described in BIP174 and PSBTv2 is described in BIP370. Nowadays, I wouldn't recommend a wallet not supporting PSBTs. #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, when will all 21 million BTC be mined? Son: Hi Dad, All 21M bitcoins will be mined by 2140, but more than 98% will be mined by 2030. Act accordingly and stack some sats today, tomorrow and the day after. #Bitcoin

Dad: Son, you cannot buy happiness. Son: Hi Dad, Who said you can't buy happiness? You can buy bitcoin. #Bitcoin

Son: Dad, get your coins off exchange! Dad: Son, I did that already. Son: Get more and get those coins off exchange. #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, 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

Son: Dad, here's the four-point plan to not screw up with your bitcoin. 1. Never store a 12/24 recovery seed words online, not even encrypted 2. Never type a 12/24 recovery seed words onto any online device 3. Only enter the 12/24 recovery seed words directly onto a hardware wallet 4. Only record the 12/24 recovery seed words onto durable physical medium such as a Cryptosteel Capsule or a Cryptosteel Cassette. Dad: Son, sounds like a plan. #Bitcoin

Son: Dad, in the future, you will have to get on a waiting list to buy a fraction of a bitcoin. Dad: Son, I am not made for waiting lists. I prefer to get my fraction right now. #Bitcoin

Dad: Son, it's too early for mainstream adoption. There are otherwise intelligent people who still think Bitcoin is going to zero. Son: Hi Dad, Yes, we are so early. In the year 2050 “Bitcoin is crashing from $20 million per coin to $19 million per coin! It’s going to zero! I has no intrinsic value!” Dad: Son, not sure that I will live to see it. I would be over 100 years old. #Bitcoin

Son: Dad, did you know that there are 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976 Bitcoin private keys? Dad: Son, guess which ones are mine. ;-) Jokes aside. How likely is it that someone could guess one? Son: In short, extremely unlikely. Dad: Extremely unlikely? So, it is possible?! Son: Extremely unlikely because there are more Bitcoin private keys than atoms in the universe. Dad: Okay, somehow reassuring. #Bitcoin