Dad: Son, are the last 16 digits of π a good passphrase? Son: Lol, Dad, that's hilarious. #Bitcoin

Dad: Son, what is a passphrase? Son: Hi Dad, The BIP39 standard supports an optional 25th word, a so-called passphrase. The passphrase encrypts the seed and creates a new wallet. Dad: Son, do I have limitations? Size, or something? Son: On the Coldcard hardware wallet for example, passphrases are limited to 100 characters in length. The on-screen interface supports ASCII characters only. Dad: Okay, that is a powerful feature! Son: So little effort and so much more security. #Bitcoin

Son: Dad, did you know? Bitcoin Core is one of the most reviewed software, maybe it's the most reviewed software ever. Dad: Son, why is that? Son: Bitcoin Core has the biggest bug bounty ever. #Bitcoin

Dad: Son, what is "Cold Storage" exactly? Son: Hi Dad, "Cold storage" is a general term for different ways of securing bitcoins offline. Your signing keys are disconnected from the internet. Dad: So "BlueWallet" must be a hot wallet? Son: Yes. It's connected to the internet. This is perfectly fine for daily transactions and smaller amounts. For storing funds long term, use a dedicated hardware wallet like the "Coldcard" or the "Passport". However, multisig – a "signing combination" of various wallet – would be the best solution. #Bitcoin

Dad: Son, what does SHA256 hashing do? Son: Hi Dad, Let's assume a want to hash this message. The hash would be 64 characters long, always, no matter how long the message is. The hash is always the same if I hash the same message, and there is no way to get back to the original message based on the hash. Dad: So, hashing is a one-way transformation of information and the information is not the information itself. The information for me and others is that the given information is "true". Son: Yes, Dad, you can understand it that way. #Bitcoin

Dad: Son, Bitcoin is like water. Son: Hi Dad, Yes, but also... Bitcoin is like a sponge that soaks up value over time, only to release it when needed. Dad: Okay, let's agree on "Bitcoin is." #Bitcoin

Dad: Son, how can I convert a 24 word seed into a 12 word seed (BIP39)? 12 words can be better memorized. Son: Hi Dad, Converting a 24 into a 12 word seed is impossible. According to BIP 39, a mnemonic seed is converted into a binary seed using PBKDF2-SHA-512. To turn a 24 word seed into a 12 word seed, you'd need to find a 12 word seed that produced the same binary seed, which is believed to be impossible. Dad: Oh, I see. It will take me a while to learn all 24 words. #Bitcoin

Son: Dad, Become your own bank and stop worrying about banks going bankrupt. Dad: Son, mother and I now have a fraction of our reserve in bitcoin. Son: Great. Every fraction of a bitcoin you own is a safer and more secure store of value compared to the fractional reserve scam used by traditional banks. #Bitcoin

Son: Dad, you can spend a fraction of a bitcoin. Dad: Son, no, thank you. That is out of question. Son: The question is: What is your unit of account. #Bitcoin

Son: Dad, don't trust everything you see. Even salt looks like sugar. Dad: Son, what do you want to tell me? Son: Use your Umbrel node to verify if your bitcoin is real bitcoin – or you will be salty in the end. #Bitcoin

Son: Dad, there is no such thing as overproduction in Bitcoin. Bitcoin always paces itself. Everything works as designed and everything is in perfect order every 10 minutes on average. Dad: Son, it seems to me that Bitcoin runs as accurately and precisely as a Swiss watch. Son: Bitcoin is indeed a great timekeeper. #Bitcoin

Dad: Son, what about newer versions of Bitcoin like Bitcoin Cash and BitcoinSV? Son: Nah, Dad. Those are shitcoins! Bitcoin Core 25.0, Bitcoin Core 24.1 Bitcoin Core 23.2, Bitcoin Core 23.1, Bitcoin Core 22.1, … These are newer Versions of Bitcoin. There are other Bitcoin Core alternatives like "Bitcoin Knots", "Libbitcoin" and "BitcoinJ" that don’t fork the blockchain. Dad: How that? Son: Satoshi launched the first Bitcoin client in January 2009. Over time, developers improved it, leading to "Bitcoin Core." Other projects also created compatible Bitcoin versions with the same consensus rules and protocols. #Bitcoin

Son: Dad, few people know that our local government's currency is not backed by gold. Dad: Many do not even want to know. #Bitcoin

Dad: Son, what about "paper wallets"? Son: Hi Dad, Don't use them nowadays. These paper wallets are considered unsafe for various reasons. Dad: What should I use instead? Any suggestions? Son: "Opendimes" are today's paper wallets. This is a very safe and effective way to generate a uncompromised private key. Dad: And then I load the private key into BlueWallet? Son: If you want to move your funds, then yes. #Bitcoin

Dad: Son, dollar gains from stocks, bonds and ETFs have distracted me from how powerful Bitcoin is. Then I was distracted about the increasing dollar value of my sats. It took me a while... Son: Hi Dad, This happens to most people. As long as you don't fall into the shitcoin trap, you're already one step ahead of many. #Bitcoin

Son: "My name is ██████ and it's been zero days since I bought some bitcoin." Dad: Son, are you okay? Son: Yeah, I just can't get enough. #Bitcoin

Son: Dad, Passphrases are easy to use. Dad: Son, that is why everybody should use it. Right? Son: Passphrases are easy to lose. Dad: Uhm, that is bad. What do you suggest? Son: That's why everybody should use a Cryptosteel. Dad: It is not easy to do everything right. Son: Get a "Capsule Duo". Use one for the recovery seed words and one for the passphrase. Store both Capsules on different locations. That's it. #Bitcoin

Dad: Son, what does m/44'|48'|84'/0'/0' mean? Son: Hi Dad, It's a "derivation path" and it describes how your Hierarchical Deterministic (HD) wallet derive a specific key within a tree of keys. For example, if you want to get the next address from a wallet, it just increases the last number by one. Dad: So this means that all receiving addresses are already known when the wallet is created? Son: All receiving addresses, all change addresses, all accounts and much more are known from the beginning. Everything is derived from your 12 or 24 seed words using a derivation path. #Bitcoin

Dad: Son, if you are feeling down, text mum. Son: Dad, yes, I would – and buy some bitcoin. #Bitcoin

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