Dad: Son, why do you believe some individuals are reluctant to delve into the realm of Bitcoin?
Son: Hi Dad,
Common obstacles to Bitcoin include a general apprehension towards new technology, experiences of being deceived by unreliable shitcoins and their promoters.
Another major concern is the question, "If it's so beneficial, why isn't everyone already using it?"
Dad: I see...
Son: Breaking down these barriers often hinges on establishing personal trust. Dad, consider delving into more Bitcoin discussions with your boomer friends! ;)
#Bitcoin
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.
Dad: Son, why do you believe some individuals are reluctant to delve into the realm of Bitcoin?
Son: Hi Dad,
Common obstacles to Bitcoin include a general apprehension towards new technology, experiences of being deceived by unreliable shitcoins and their promoters.
Another major concern is the question, "If it's so beneficial, why isn't everyone already using it?"
Dad: I see...
Son: Breaking down these barriers often hinges on establishing personal trust. Dad, consider delving into more Bitcoin discussions with your boomer friends! ;)
#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
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, what about splitting the 24 recovery seed words in two and storing the two parts in different locations?
Son: Hi Dad,
This is a bad idea that should not be done because if one set of words is discovered, then it becomes far easier to brute force the rest of the seed phrase.
Storing bitcoin in multiple locations like this should be done with multi-signature wallets instead. A 2-of-3 quorum is a great configuration to secure your funds.
Dad: Well, that brings other challenges, I assume.
Son: Yes, but it's not that hard to do.
#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, wait until the people who just want to be left alone get involved.
Son: Hi Dad,
What do you mean?
#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
Dad: Son, what excites you so much about Bitcoin?
Son: Hi Dad,
We were born too late to explore the oceans, too early to explore the stars, but just the right time to fix the money!!
Dad: Great time to be alive!
Son: Dad, tell them to buy the ticket and to take the ride … to buy bitcoin. It's not too late, but the time frame in which one can buy bitcoin is slowly closing.
#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
Son: Dad, get quality over quantity bitcoin.
Dad: Son, what do you mean?
Son: Bitcoin with your identity or bank account is a liability.
Dad: Son, how so?
Son: These funds are directly linked to your personal information. Privacy gone. It's better to keep your Bitcoin transactions private and separate from your personal information.
If your identity or bank account information is compromised, it can make you a target for hackers or even put your financial security at risk.
#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
Son: Dad, we are about to upgrade humanity.
Dad: Son, how can we do that?
Son: By migrating to a Bitcoin Standard, away from fiat currency.
#Bitcoin
Dad: Son, had a bad day today... I am still thinking about the huge investment I made at all-time high.
Son: Hi Dad,
I'm sorry to hear that.
Here's the pep talk you might just need to hear:
Think of all those who did the same and sold in panic with a double-digit loss.
Understanding Bitcoin is your best protection.
Confidence in the Bitcoin revolution is key.
Dad: Exactly what I needed to hear. Thank you, son!
#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, I do not know what is going on with people these days........
Son: Dad, what's going on?!
Dad: "trust the science" is the most anti science statement ever made.
Questioning science is how we did science!
Son: Gotcha. However, the following "trust related" Bitcoin mantras work perfectly for me.
"In numbers we trust."
"In math we trust."
"Don't trust, verify."
#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
Son: Yes – Yes – Yes – and so on.
Dad: Son?
Son: Dad?
Dad: What are those "Yes" responses for?
Son: That's what my Bitcoin node says when verifying transactions and rebroadcasting the valid ones across the network.
#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
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
Dad: Son, why taproot?
Son: Hi Dad,
Taproot hides non-default multisignature script paths in the collaborative case, it improves Bitcoin Lightning Network privacy and block space efficiency, makes Bitcoin fungible.
Dad: Oh, and what do a taproot addresses look like?
Son: bc1p...
#Bitcoin