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, Mum and I are wondering how the kids are doing. The time goes by so fast ;-) Son: Hi Dad, The boys are stronger than yesterday. They know more than yesterday. They hold more sats than yesterday. Dad: Like father, like son. #Bitcoin
image Dad: Son, history teaches us that we do not learn from history. Son: Hi Dad, I understand the frustration with humanity repeating its mistakes, but I think history isn't just a mirror of our failures; it's a reflection of our potential. It shows that while we often stumble, we also have the capacity to grow, adapt, and improve. It's up to us to choose whether to repeat history or learn from it to create a better future. And now, we have Bitcoin, a new chapter in the history that challenges the way we think about value, values and time. #Bitcoin
image Son: Dad, Bitcoin will improve the standard of living around the world within a generation or two. Dad: Son, and how is this to happen? Son: Let's quote "The Bitcoin Standard" here: “The better the money is at holding its value, the more it incentivizes people to delay consumption and instead dedicate resources for production in the future, leading to capital accumulation and improvement of living standards” #Bitcoin
image Son: 56bbd862e7e4bfe4da5a10d0e80e1da13dd3a2ed15eee8b9a0a322b8a4ca3e3d Dad: Son, what is this again? Son: Dad, this is just a random, 256-bit hexadecimal number. A bitcoin private key. A private key is used to spend bitcoin and as the source of its public key. The public key is required to receive bitcoin. Dad: Are public keys the same thing as addresses? Son: No. Bitcoin addresses are derived from a public key using a one-way function. Or in other words: A bitcoin address is a hashed version of a public key. It’s shorter than the original public key. #Bitcoin
image Dad: Son, why did Satoshi Nakamoto choose a decentralized system, and why did he always choose to remain anonymous? Son: Hi Dad, "Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own." ––Satoshi Nakamoto Dad: Oh! Okay, that makes perfect sense. Son: "Satoshi's genius was the removal of all heads, including his own." ––dergigi Dad: I really like those quotes. #Bitcoin
image Son: Dad, retirement is the worst thing you can do for your health. Dad: Son, this also applies to wealth. #Bitcoin
image Dad: Son, my balance hardly changes. Son: Hi Dad, Stacking slowly? It's okay, but never stop. #Bitcoin
image Son: Dad, did you get your coins off exchange? Dad?! This is a friendly reminder to get your coins off exchange. It shouldn't be ignored! Dad: Son, thank you for your message. I am thinking of taking my bitcoin off the exchanges when the stack will start to look big enough. Son: Download a phone wallet like Muun or BlueWallet. Learn to back it up and learn how to restore it using your recovery seed words. Start learning self-custody with small amounts today. It's a process, and you need to practice it. Dad: All right, I will take a look at it. #Bitcoin
image Dad: Son, how do you use your Coldcard? Connected via USB or air gapped? Son: Hi Dad, I'm running my Coldcard wallet air gapped only. Dad: Son, are you connecting anything Bitcoin related to your computer? Son: Yes, the Bitcoin network, using port 8333. #Bitcoin
image Dad: Son, at this rate I am going, my student loans should be paid off in 3 years. Son: Hi Dad, That's great. Dad: Lessons learned. #Bitcoin
image Son: Dad, get your OPSEC in order. Dad: Son, Operations Security is for military. Son: OPSEC is military jargon, but the concept is not limited to the Army, Navy, Space Force, Air Force, Marine Corps, or Coast Guard. Any bitcoiner can use the principles of OPSEC to protect its interests. #Bitcoin
image Dad: Son, what does "BITCOIN" mean? Son: Hi Dad, It's a name. Dad: No, son, it is an acronym. BITCOIN - Brilliant Innovative Technology Creates Opportunities Involving Numbers #Bitcoin
image Dad: Son, how many coins copied Bitcoin? Son: Hi Dad, Way too much!! Most of those coins are exact copies of Bitcoin's source code. Bcash, for example, is a fork of Bitcoin with a few things taken out. Litecoin is also a fork of Bitcoin with the block time and mining algorithm changed. Dad: What are the most interesting coins to invest? Son: None of them are interesting in any way. I'm interested exclusively in bitcoin, everything else is a shitcoin. Do not fall for it, Dad. #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 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
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, what does "Few." mean? Son: Hi Dad, Few? Dad: Yes, few. Son: Few understand this. #Bitcoin