Son: Dad, bitcoin is accepted all around the world. Dad: Son, I assume that even Flat-Earthers will accept bitcoin one day. #Bitcoin

Son: Thanks __________________ for Bitcoin. Dad: Son, who is going to fill the blanks? #Bitcoin

Son: Hi Dad, We need to separate money and state. We need to separate economy and state. Dad: Son, I cannot agree more. Just like the separation of church and state, it is time we separate money and state, and economy and state as well. Son: Let's empower individuals and ensure true economic freedom. Dad: Thank you, Satoshi, for Bitcoin. #Bitcoin

Dad: Son, what is the best application for lightning? Son: Hi Dad, Bitcoin payments and killing shitcoins. #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, how much have you lost trying to trade? Be honest. Son: Hi Dad, I leverage traded once, and again. I got liquidated and many sats changed hands. For me, trading is gambling. Never again. After many blocks, I still can feel the pain. Dad: Everybody wants more sats, as it seems. Son: That's true, Dad. Lessons learned. #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

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

Dad: Son, in my humble opinion, prepping and training should be tax deductible. Son: Hi Dad, Yes, true, and this should apply to stacking too. But, this is not what they want you to do. ;-) #Bitcoin

Dad: Son, when will the last bitcoin be mined? Son: Hi Dad, The last fraction of a bitcoin is estimated to be mined in 2140, when the block reward will drop below 0.00000001 bitcoin, which is 1 Satoshi. Dad: This is in 120 years. What will happen by then? Son: We are going to make sats the standard!By that, I mean Satoshi Dollars parity. ;-) Dad: 1 bitcoin would be worth 100 million US Dollars!! Son: Yeah, and in the Lightning Network we can even split a Satoshi into millisatoshi if smaller denominations are needed. #Bitcoin

Son: Dad, if you're like me, more sats are better. Dad: The same goes for ammunition, son. #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

Dad: Son, why should I invest in Bitcoin? I do not understand it. ¯\_(ツ)_/¯ Son: Hi Dad, Nobody understands Bitcoin when they start. Dad: Truth. Son: Two other things are true: 1. Nobody has enough Bitcoin. 2. Nobody understands Bitcoin completely. So, you are in good company. ;-) #Bitcoin

Dad: Son, who created Bitcoin? Son: Dad, no one actually knows... Dad: What? No one knows who created Bitcoin?! Son: I doubt anyone knows who created Bitcoin. It seems to be one of the best kept secrets of modern times. But we do have a name: "Satoshi Nakamoto". This may be a person or a group of persons. Dad: But Bitcoin has to come from somewhere, right? Son: Yes, Bitcoin did have a prehistory. There are eight references listed at the end of the Bitcoin white paper. Would you like to take a look? #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, 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

Son: Dad, how do you explain bitcoin to your boomer friends? Asking for a friend. Dad: Son, behave yourself! Son: This was just a question, Dad. :) Dad: Bitcoin is "Cloud Money". You can upload it, store it and download it. Simple, right? :-) Son: .. and with "Lightning" you can even stream money. Dad: Lightning? Son: The "Layer 2 instant payment system" thing, that settles withing a fraction of a second. #Bitcoin

Dad: Son, why not keep my Bitcoin on an exchange? They are like banks, and you can use two-factor auth. Son: Hi Dad, Exchanges are on-ramps and off-ramps. They are not destinations. Use them as they have been designed, as routes to self-custody and not as banks. Dad: Even though every withdraw costs a hefty fee? Son: Yes. Freedom and sovereignty has its price. I don't want anything or anyone to come between me and my bitcoin. For me, there is no such thing as "too complicated", "too cumbersome" or "too expensive" when it comes to self-custody. #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, 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