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Dad: Son, what is Bitcoin's main use case? Son: Hi Dad, Use Bitcoin to run a global system of value and settlement. This is no different than what gold was for 2,000 years and/or what the US dollar has been for the last 70 years or so. Dad: So, is it both, the "value" and the "settlement"? Son: Yes, both. And much more ... #Bitcoin
Son: Dad, I should have paid more attention to Bitcoin in the beginning and I should have bought more. Dad: Son, don't blame your past. Be grateful for what it taught you. I could say the same... Now I am just glad I changed my mind on Bitcoin and saved my savings. #Bitcoin
Son: Dad, if Bitcoin fails, I'm fucked. We are fucked. Dad: Son, all of us, I guess. #Bitcoin
Dad: Son, why not load the seed words into another wallet and spend all the Bitcoins twice? Son: Hi Dad, That's not how it works. Bitcoins cannot be double spent. Bill Gates once said: “Bitcoin is a technological tour de force.” Think about it... Bitcoins are purely digital and at the same time something that cannot be copied. Dad: That is indeed very impressive, son. #Bitcoin
Son: Hi Dad, Just a note regarding Bitcoin transaction fees. Do not overpay them... By reducing the fee you pay, you almost always reduce the fees other users have to pay. Dad: Son, makes sense, if one is not in a hurry. Son: Everybody wins, except the miners. #Bitcoin
Dad: Son, what do you recommend to your friends? Son: Hi Dad, "Pay attention to Bitcoin and educate yourself." or "Invest in yourself, invest in Bitcoin." Dad: Son, why exactly this recommendation? Son: Because Bitcoin is the hardest money, the greatest monetary and technological revolution since the Internet itself. It's not a fad. Dad: I also believe that Bitcoin will not go away. Son: Bitcoin is here to stay — that's for sure – and it will transform money, the Internet and so much of the world around us. It's just starting... #Bitcoin
Dad: Son, how can I improvement my online security level? Son: Hi Dad, Use a password manager. This is the biggest single security improvement a person can make. I never click on hyperlinks in emails. Copy-verify-paste them. I use KeePass to store my usernames, passwords, and links to the login pages for each service. Dad: Where can I get this "password safe" app? Son: There you go, https://keepass.info #Bitcoin
Son: Hi Dad, If you want to know the truth: - Don't ask a banker about Bitcoin. - Don't ask a taxi driver about Uber. - Don't ask a hotel owner about Airbnb. Dad: Son, you're right, I'll keep that in mind. ;) #Bitcoin
Dad: Son, the market capitalization of gold is huge. Son: Hi Dad, Yes, but Bitcoin will surpass the market cap of gold and eat all its monetary value very soon. Dad: Maybe. But it will take a generation or two before Bitcoin will make gold irrelevant. Son: A generation or two of new Bitcoiners, yes. What if Bitcoin will make gold irrelevant within 5 years or so??? #Bitcoin
Dad: Son, managing a stock portfolio is a complex and time-consuming business. I do not like it. Son: Hi Dad, Buy bitcoin, and you will have a simpler life. Dad: What percentage would you invest? Son: Doesn't matter. 100% of your wealth will be in bitcoin anyway – no matter how much you have. Dad: I do not understand...... Son: Soon you will, Dad. #Bitcoin
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.
