Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: Steve on June 10, 2012, 02:54:07 PM



Title: Bitcoin for kids
Post by: Steve on June 10, 2012, 02:54:07 PM
I was thinking about allowances, awards, and such for my kids…in the past we've used a regular bank account, this has proven to be a hassle and incur silly fees.  The point was to teach them about banking, but given the hassles, we just started keeping track of a balance outside of a regular account.  I'd also like the kids to learn about virtual currencies.  In particular I'd like them to get accustomed to securing a wallet and sending and receiving bitcoins.  However I don't want them using real bitcoins until they're a bit older.

At first, my thought was that it would be great if there was some software that worked basically like Bitcoin, but uses a centrally issued coin (no blockchain, etc).  I could issue them and they could use them or redeem them if they wanted to buy something, etc.  I thought of open transactions (and maybe I'll still look into), but I really want something very simple that works very much like a typical Bitcoin client works (with similar a addressing scheme, etc).

My second thought was maybe I should use Bitcoin, but scale it down such that 100 satoshis can be redeemed with me for 1 bitcoin.  But then I have the issue of having yet more copies of the block chain.  Are there any clients that support running one node in the house, but allowing multiple other wallets on other computers to connect to it (so that I only need one copy of the block chain for them)?  A second issue is that such small value transactions may take a long time to confirm (and might be considers spammy…a fee wouldn't work because the fee would be worth more than the few satoshis themselves).  I think I would want to avoid using web wallets…all of the ones I know about seem to be unsuitable for one reason or another.

The ideal here would probably be a version of the bitcoin client that worked with a centrally issued coinage and block chain.  It would be nice if it even simulated block generation every 10 minutes like the real Bitcoin system, but of course didn't actually use processing power to secure it…I'm fine just having a computer in the house that is the central authority.


Title: Re: Bitcoin for kids
Post by: MaxSan on June 10, 2012, 03:18:38 PM
have you not considered just generating a new genesis block on a computer and run it like that? the difficulty will be low so im sure one computer can generate blocks (mite be slow? i think minimum difficulty is *something* above 100..)

Maybe you can just use Litecoin or something in the same manner as bitcoin (wortha fraction of the value so not so bad if it all goes wrong)



Title: Re: Bitcoin for kids
Post by: chmod755 on June 10, 2012, 03:22:13 PM
I'd show them how to use Bitcoin using testnet and upgrade to the real Bitcoin client later. Just give them some small amounts.

Maybe it looks better for your kids if you change the following setting:
Settings→ Options → Display → Unit show amounts in: µBTC / mBTC


Title: Re: Bitcoin for kids
Post by: payb.tc on June 10, 2012, 03:26:37 PM
Maybe you can just use Litecoin

that's what i was going to say... even 0.01 LTC confirms pretty quickly and isn't worth very much.


Title: Re: Bitcoin for kids
Post by: Raoul Duke on June 10, 2012, 03:33:05 PM
I think what you are looking for is Electrum. If you don't want to trust an external server to get the blockchain data you can have your own STRATUM(blockchain) server

Relevant threads:
https://bitcointalk.org/index.php?topic=50936.0
https://bitcointalk.org/index.php?topic=55842.0



Title: Re: Bitcoin for kids
Post by: jim618 on June 10, 2012, 03:44:39 PM
You can set up a 'testnet-in-a-box' which is a private testnet running off one server. Think of it as setting up a centralised 'SteveCoin'.

You can then connect to it using any client that supports the testnet (I think that is all of them as that is typically what the devs use when they are testing it).

The thread in which Mike Hearn gives the details of it is here:
https://bitcointalk.org/index.php?topic=4483.0 (https://bitcointalk.org/index.php?topic=4483.0)

It has a very low difficulty.

If you set up your local testnet, you can give your kids 'play money' but they will be using the exact same tools that they would use when they move to real bitcoin.

Their friends can also connect to the same server so they can swop and trade their SteveCoin as they like. Edit: This assumes the testnet-in-a-box server has a fixed IP address.


Title: Re: Bitcoin for kids
Post by: jim618 on June 10, 2012, 03:57:27 PM
For MultiBit for instance to connect to a testnet-in-a-box that you are running on a server with IP address, say, 1.2.3.4 you would put this configuration in the multibit.properties file:

Code:
singleNodeConnection=1.2.3.4
testOrProductionNetwork=test

It would then run completely as normal but everything would be using your SteveCoin.
I expect all the other clients would be something similar.


Title: Re: Bitcoin for kids
Post by: cypherdoc on June 10, 2012, 04:11:48 PM
1.  there's nothing like using "real money" (i consider Bitcoin to be real money) to teach kids the value of saving.  pay them a good bit of interest each month (like 5%) and they will really learn the value of saving even tho its not what they'd get in a bank and even tho they're young.  there's no better money for small tx's than Bitcoin.

2. http://www.econtalk.org/archives/2012/05/owen_on_parenti.html

3. i think Multibit is the closest thing to a stripped down local client that only downloads headers or something like that i believe.  it won't take too up much space on their computers.

4. sounds like you don't want your kids to have internet access in general on their computers which is understandable.  maybe disable their browsers or set up blocks on your router while they run Multibit.

can't have those kids hanging around websites (or homes) with hot chicks in bikinis running around...oh wait. ;)


Title: Re: Bitcoin for kids
Post by: Steve on June 10, 2012, 06:20:01 PM
I've setup private testnets many times (we use them for pre-production testing of bitpay).  The problem with those is that it only takes a small configuration slip up by any one of the nodes and the whole block chain will get whacked by the real testnet.  On our testnet servers I've had to very carefully configure iptables to ensure only specific nodes are allowed an inbound connection.  I once messed that configuration up and despite being careful about the outbound connections, somehow another node on the real testnet managed for find the server and connect to it.

Still, this is a good idea.  Maybe something could be built on top of the testnet support to make this easier…it would be nice to simply specify the ip address of the central node and the client establish a block chain specific to that node (that wouldn't get whacked if you accidentally connected to another testnet node or another node running a private chain).  It would also be good if it could do block generation, but where it's configured to only use say 0.5% of the CPU for hashing and no other nodes are allowed to hash.  This would be kind of like a third mode of operation…privatenet.


Title: Re: Bitcoin for kids
Post by: Steve on June 10, 2012, 06:24:52 PM
1.  there's nothing like using "real money" (i consider Bitcoin to be real money) to teach kids the value of saving.  pay them a good bit of interest each month (like 5%) and they will really learn the value of saving even tho its not what they'd get in a bank and even tho they're young.  there's no better money for small tx's than Bitcoin.

2. http://www.econtalk.org/archives/2012/05/owen_on_parenti.html
Thanks for the link!  It looks good.

Quote
3. i think Multibit is the closest thing to a stripped down local client that only downloads headers or something like that i believe.  it won't take too up much space on their computers.
I think I may play around with Multibit on a private testnet…that might do the trick.

Quote
4. sounds like you don't want your kids to have internet access in general on their computers which is understandable.  maybe disable their browsers or set up blocks on your router while they run Multibit.

can't have those kids hanging around websites (or homes) with hot chicks in bikinis running around...oh wait. ;)
They have internet access…but on a DMZ,  with parental controls, and in a common area.  Regarding the chicks, I think you have me confused with Tony.  But, of all the things on the internet they might see, girls in bikinis isn't one I worry about.


Title: Re: Bitcoin for kids
Post by: Kris on June 10, 2012, 07:11:45 PM
Great idea, how about making a "Kids only" wallet (payment processor)? Like with vibrant colors and what not, and have them accumulate balance there?


Title: Re: Bitcoin for kids
Post by: Bees Brothers on June 10, 2012, 07:22:31 PM
Funny kid story.
Last Saturday at a market, my 6 year old daughter did a wonderful job teaching people about bees using an observation hive that we brought.
We paid her $10 + lunch.  She took the $10 and looked at me like I was a scamming jerk and said "I don't want dollars, I want bitcoins!"
....She got two bitcoins.

We work together in keeping spreadsheets on everyone's investment proportions.  The kids have some btc CD's and GLBSE stocks.
It only took one time comparing their bank account monthly interest and the weekly interest with btc for them all wanting to dump their Federal Reserve Notes for btc (had to show my wife twice).  Spreadsheets are really good to show the effect of compounding interest as well.  Pick a date in the future, like a birthday, and they can quickly see how much they will have.  Also a good way to show them how debt works.

Got home Friday, and one son presented a plan to sell a few of his coins, convert them to dollars, and then to Euros, and buy a video game that he has wanted for a while.  I helped him through the process and a little over an hour later, he had his game.  It was paid with earnings from his btc investment interest.

We don't do allowance.   They have to earn the benefits of food and shelter with doing simple chores and doing their school work.  Once their basic work is done, then they can play or earn dollars/btc/silver/or bullets.



These topics about kid wallets are very interesting, thanks for bringing up this discussion.



Title: Re: Bitcoin for kids
Post by: MaxSan on June 10, 2012, 07:55:55 PM
depending on your children's ages they will probabaly outsmart you on this if you trade up Litecoin for real money at larger than its value (once they google litecoin and work out how to buy an extra 1k for a very small amount you may be shocked at the next "bill")

Id donate 100 to a random kid who comes on irc and asked for it for this purpose. For pure lulz value ofcourse ;)


Title: Re: Bitcoin for kids
Post by: jim618 on June 10, 2012, 08:09:16 PM
Yes, and when at their next birthday party they and their friends are all discussing FPGA implementation algorithms you know they are part of the Bitcoin Generation.

Birthday boy/ girl to friend:
'Agreed, we should dedicate more silicon to ECKey generation as that is the bottleneck in our sims. Pass the strawberry ice-cream please'


Title: Re: Bitcoin for kids
Post by: ludo0777 on June 10, 2012, 08:41:57 PM
I'd give them bitcoins, and then teach them about investing and maybe they would make some money  ;)


Title: Re: Bitcoin for kids
Post by: FreeMoney on June 10, 2012, 09:33:20 PM
GLBSE + Bitcoin or even just BTC/USD exchanges are a great way to learn about markets. So much better than "pretend you own this stock magically and we'll see if it goes up or down" which is how 'investing' was taught to me.


Title: Re: Bitcoin for kids
Post by: punningclan on June 10, 2012, 10:08:11 PM
This may be a bit technical but there is a Virtual Mining game that allows you to "buy" and set up virtual mining rigs mentioned over at:

https://bitcointalk.org/index.php?topic=77833.0

There web site is http://www.virtualminer.eu/


Title: Re: Bitcoin for kids
Post by: Tuxavant on July 01, 2012, 09:14:48 PM
waiting until they are older may be a worse time for them to start using bitcoin because of the advanced socialization. Now, all they have to deal with is dad. This has been working out great with my kid since 2010 (they are 10 now). They've had Bitcoins on their phone since the andreas android client has been out. When they want to buy something at walmart, or wherever, they send me bitcoins and I pay with my fiat. they've learned how to check the exchange rate, do conversions, use different wallets as different accounts, and even keeping offline wallets for security and savings.


Title: Re: Bitcoin for kids
Post by: paraipan on July 01, 2012, 09:18:24 PM
waiting until they are older may be a worse time for them to start using bitcoin because of the advanced socialization. Now, all they have to deal with is dad. This has been working out great with my kid since 2010 (they are 10 now). They've had Bitcoins on their phone since the andreas android client has been out. When they want to buy something at walmart, or wherever, they send me bitcoins and I pay with my fiat. they've learned how to check the exchange rate, do conversions, use different wallets as different accounts, and even keeping offline wallets for security and savings.

^this post made my day  ;D


Title: Re: Bitcoin for kids
Post by: hazek on July 02, 2012, 12:20:22 AM
waiting until they are older may be a worse time for them to start using bitcoin because of the advanced socialization. Now, all they have to deal with is dad. This has been working out great with my kid since 2010 (they are 10 now). They've had Bitcoins on their phone since the andreas android client has been out. When they want to buy something at walmart, or wherever, they send me bitcoins and I pay with my fiat. they've learned how to check the exchange rate, do conversions, use different wallets as different accounts, and even keeping offline wallets for security and savings.

^this post made my day  ;D

Yup, made my day too! ;D


Title: Re: Bitcoin for kids
Post by: ErebusBat on July 02, 2012, 12:22:01 AM
Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?


Title: Re: Bitcoin for kids
Post by: Tuxavant on July 02, 2012, 12:31:57 AM
I just remember it being a chore... having to teach them about counting back change, waiting for it at the counter and making sure it was right instead of getting ripped off.

now they just expect to see their balance go up every saturday morning when I pay their allowance and regretfully go down when they want something. it's a million times easier now with bitcoin because exchange rates and change are calculated for you. it's just a number to them now.

I rant about the government printing money to pay the bills and comment that it's not fair I dont get to do the same thing, but I don't think they are up to that level of conception yet. I'm expecting that to kick in in about 5 years when they start studying civics in school and hopefully we'll have another full libtard in our family by then.


Title: Re: Bitcoin for kids
Post by: fellowtraveler on July 02, 2012, 08:33:52 AM
I thought of open transactions (and maybe I'll still look into), but I really want something very simple that works very much like a typical Bitcoin client works (with similar a addressing scheme, etc).

CREATE ASSET ACCOUNT -- SOURCE CODE
Code:
   def OT_ME::create_asset_acct(SERVER_ID, NYM_ID, ASSET_TYPE_ID) 
    {
        var ot_Msg := OTAPI_Func()
        // -------------------------
        var theRequest := OTAPI_Func(ot_Msg.CREATE_ASSET_ACCT, SERVER_ID, NYM_ID, ASSET_TYPE_ID)
        var     strResponse = theRequest.SendRequest(theRequest, "CREATE_ASSET_ACCT")
        
        return strResponse
    }
------------------------------------------------------------------------------------------

SHOW ACCOUNT BALANCE:

~/Projects/Open-Transactions/include
> opentxs balance

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

    Balance: 1211
eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn   (FT's Silver)

------------------------------------------------------------------------------------------

SOURCE CODE for "balance" command, using OT API:

Code:
def details_account_balance(strID)
{
    var strName          = OT_API_GetAccountWallet_Name(strID)
    var strBalance       = OT_API_GetAccountWallet_Balance(strID)
    
    OT_API_Output(0, "\n    Balance: ") //stderr
    print(strBalance) // stdout
    OT_API_Output(0, strID + "   (" + strName + ")\n\n") //stderr
}
------------------------------------------------------------------------------------------

SHOW CASH PURSE (on local client):

~/Projects/Open-Transactions/include
> opentxs showpurse

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Total value: 1
Token count: 1

Index   Value   Series   ValidFrom      ValidTo      Status
0         1      0      1339606926   1355158926      valid


------------------------------------------------------------------------------------------

WITHDRAW CASH:

~/Projects/Open-Transactions/include
> opentxs withdraw

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Enter the amount as integer[1]: 109

Server response (withdraw_cash): SUCCESS withdrawing cash! (From account on server, to local purse.)
Success retrieving intermediary files for account.


------------------------------------------------------------------------------------------

SOURCE CODE for withdraw cash:

Code:
    var madeEasy	= OT_ME()

    var strResponse = madeEasy.withdraw_cash(Server, strMyNymID, MyAcct, strAmount)
    var strAttempt  = "withdraw_cash"
    // ***************************************************************
    
    // Interpret the server's reply...
    
    var nInterpretReply = InterpretTransactionMsgReply(Server, strMyNymID, MyAcct, strAttempt, strResponse)
    
    if (1 == nInterpretReply)
    {    
        // Download all the intermediary files (account balance, inbox, outbox, etc)
        // since they have probably changed from this operation.
        //
        var bRetrieved = madeEasy.retrieve_account(Server, strMyNymID, MyAcct) //bForceDownload defaults to false.
        
        OT_API_Output(0, "\n\nServer response ("+strAttempt+"): SUCCESS withdrawing cash! (From account on server to local purse.) \n")
        OT_API_Output(0, (bRetrieved ? "Success" : "Failed") + " retrieving intermediary files for account.\n")
    }

------------------------------------------------------------------------------------------

VIEW (UPDATED) BALANCE:

~/Projects/Open-Transactions/include
> opentxs balance

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

    Balance: 1102
eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn   (FT's Silver)

------------------------------------------------------------------------------------------

VIEW UPDATED PURSE (on local client):

~/Projects/Open-Transactions/include
> opentxs showpurse

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Total value: 110
Token count: 7

Index   Value   Series   ValidFrom   ValidTo   Status
0      1      0   1339606926   1355158926      valid
1      100      0   1339606926   1355158926      valid
2      1      0   1339606926   1355158926      valid
3      5      0   1339606926   1355158926      valid
4      1      0   1339606926   1355158926      valid
5      1      0   1339606926   1355158926      valid
6      1      0   1339606926   1355158926      valid


~/Projects/Open-Transactions/include
>

------------------------------------------------------------------------------------------

SOURCE CODE for "show purse":

Code:
            var strAmount = OT_API_Purse_GetTotalValue(Server, MyPurse, strPurse)
            print("\n\nTotal value: " + strAmount)
            
            // Loop through purse contents and display tokens.
            var nCount =  OT_API_Purse_Count(Server, MyPurse, strPurse)
            // ----------------------
            if (nCount > 0)
            {
                print("Token count: " + nCount.to_string() + "\n")
                print("Index\tValue\tSeries\tValidFrom\tValidTo\t\tStatus")

                var nIndex = -1
                
                while (nCount > 0)
                {
                    --nCount
                    ++nIndex  // on first iteration, this is now 0.
                    // -------------------
                    var strToken = OT_API_Purse_Peek(Server, MyPurse, MyNym, strPurse)
                    var strNewPurse = OT_API_Purse_Pop(Server, MyPurse, MyNym, strPurse)                    
                    strPurse = strNewPurse
                    // ------------------------------------------
                    var strDenomination = OT_API_Token_GetDenomination(Server, MyPurse, strToken)
                    var nSeries         = OT_API_Token_GetSeries      (Server, MyPurse, strToken)
                    var strValidFrom    = OT_API_Token_GetValidFrom   (Server, MyPurse, strToken)
                    var strValidTo      = OT_API_Token_GetValidTo     (Server, MyPurse, strToken)
                    var strTime         = OT_API_GetTime()
                    // ------------------------------------------
                    // Output the token...
                    
                    var strStatus = (strTime.to_int() > strValidTo.to_int()) ? "expired" : "valid"
                    
                    print(nIndex.to_string() + "\t" + strDenomination + "\t" + nSeries.to_string() + "\t" + strValidFrom + "\t" + strValidTo + "\t" + strStatus)
                    // ------------------------------------------
                } // while
            } // if nCount > 0


More examples here:  https://github.com/FellowTraveler/Open-Transactions/wiki/Use-Cases (https://github.com/FellowTraveler/Open-Transactions/wiki/Use-Cases)

Support available.

Full examples for using the high-level API are also available in Java (in the Moneychanger test GUI),
as well as in the new opentxs high-level command-line interface (which itself is actually written in OT script):

Code:

> opentxs help

Welcome to Open Transactions -- version 0.82.h

PLEASE SIGN YOUR PASSPHRASE:
From command-line-opt.ot (defaults):
Using as server: tBy5mL14qSQXCJK7Uz3WlTOKRP9M0JZksA3Eg7EnnQ1
Using as mynym: T1Q3wZWgeTUoaUvn9m1lzIK5tn5wITlzxzrGNI8qtaV
Using as myacct: eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn
Using as hisacct: iT4nJZbqlT8EPd4ZjWKsA9YxsAboO334sCJ0oYdgh1G
Using as 'his' nym: SP8rPHc6GMRPL517UL5J8RK2yOiToyVqMaj3PUHvLzM


Commands:

acceptall accept all receipts in myacct's inbox.
activate activate a smart contract or payment plan.
addsignature add a signature to a contract without releasing others.
balance display balance for a specific account.
canceloffer cancel a still-running, recurring market offer.
cancelplan cancel a still-running, recurring payment plan.
checknym download a nym's public key based on his ID.
cheque write a cheque.
confirm confirm your agreement to a smart contract or payment plan.
decode OT-base64-decode out of armor.
decrypt decrypt ciphertext using nym's private key.
delmail delete an in-mail item.
deloutmail delete an out-mail item.
deposit deposit cash, cheque, voucher, or tokens.
discard discard/cancel a not-yet-cashed, outgoing instrument.
encode OT-base64-encode into armor.
encrypt encrypt plaintext to a nym's public key.
exchange exchange in/out of a basket currency.
getcontract download an asset or server contract by its ID.
inbox display inbox of a particular account.
issueasset issue a currency contract onto an OT server.
mail display in-mail for a particular nym.
newacct create a new asset account.
newasset create a new asset contract.
newbasket create a new basket currency.
newkey create a new symmetric key.
newnym create a new nym.
newoffer create a new market offer.
newserver create a new server contract.
outbox display outbox of a particular account.
outmail display out-mail for a particular nym.
outpayments display contents of outgoing payments box.
pass_decrypt password-decrypt a ciphertext using a symmetric key.
pass_encrypt password-encrypt a plaintext using a symmetric key.
payments display contents of incoming payments box.
records display contents of record box.
refresh download latest intermediary files for myacct.
refreshnym download latest intermediary files for mynym.
register register a nym onto an OT server.
sendmsg send a message to another nym's in-mail.
showacct show account stats for a single account.
showbaskets show basket currencies issued on a particular server.
showmint show a mint file for specific asset ID. Download if necessary.
showmyoffers show mynym's offers on a particular server and market.
showoffers show all offers on a particular server and market.
showpurse show contents of cash purse.
sign sign a contract, releasing all other signatures first.
stat display wallet contents.
transfer send a transfer from myacct to hisacct.
trigger trigger a clause on a running smart contract.
verifyreceipt verify your intermediary files against the last signed receipt.
verifysig verify a signature on a contract.
voucher withdraw a voucher (cashier's cheque).
withdraw withdraw cash. (From acct on server into local purse.)



Title: Re: Bitcoin for kids
Post by: bg002h on July 02, 2012, 11:15:50 AM
Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?

I have a 2 and 3.5 year old. I've got over a dozen Casascius coins. Both my girls seem to get the idea that the numbers on the sticker are what is valuable...my 2 year old asked where the sticker on her quarter was. Too cute.


Title: Re: Bitcoin for kids
Post by: ribuck on July 02, 2012, 11:42:21 AM
I don't see any reason not to use real bitcoins. As chmod755 suggested, set the client to display Millies and you're set to go.


Title: Re: Bitcoin for kids
Post by: ErebusBat on July 02, 2012, 01:29:06 PM
Sorry I wasn't suggesting not to use real bitcoins, but asking for input on how people also educate on fiat.  I think this is necessary given that we will be dealing with some form of it for the foreseeable future.

I am just not sure the best way to explain inflation and what-not, especially after you have described mining blocks :/

Just looking for others input.

I like the physical idea (casascius or not).  Maybe some form of checks or notes, kinda like the USD used to be, only backed by BTC and not AU.  Thing is.... kids are not cautious and it would be nice to help protect them from themselves, although I guess a 'savings' account at the bank of Mom and Dad could do the same thing.


Title: Re: Bitcoin for kids
Post by: AndrewBUD on July 02, 2012, 01:32:19 PM
Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?


LOL 2 years old bud...... My son will be 2 next month..... I don't think i'll be teaching him anything about currency for some time... Kid's just fingering out how to talk in small sentences..


Title: Re: Bitcoin for kids
Post by: ErebusBat on July 02, 2012, 01:35:18 PM
Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?


LOL 2 years old bud...... My son will be 2 next month..... I don't think i'll be teaching him anything about currency for some time... Kid's just fingering out how to talk in small sentences..

Like I said time to start thinking, not acting.

Plus I have to make sure the WAF is high or the value is very very diminished.


Title: Re: Bitcoin for kids
Post by: AndrewBUD on July 02, 2012, 01:36:41 PM
I tried.. Gave him 5 peso's and he ate it :P Just kidding :) I figured he was smart and would invest it :)


Title: Re: Bitcoin for kids
Post by: Realpra on July 02, 2012, 02:22:38 PM
Lol, my parents never hit me, drank, took drugs or left me alone long... but suddenly I feel like they did a slightly bad job for not teaching me about the world earlier :)

I will make sure to teach mine a few things, not just BTC of course.


Title: Re: Bitcoin for kids
Post by: AndrewBUD on July 02, 2012, 02:27:34 PM
My parents are cool, let me do a lot of stuff I shouldn;t have been able to do.. Maybe not let me. But let me get away with it :)


My dad's all interested in BTC now :)


Title: Re: Bitcoin for kids
Post by: ErebusBat on July 02, 2012, 04:30:23 PM
Lol, my parents never hit me, drank, took drugs or left me alone long... but suddenly I feel like they did a slightly bad job for not teaching me about the world earlier :)

I will make sure to teach mine a few things, not just BTC of course.

I understand. My parents always said "credit cards are bad" but never told me why.

My wife and I are going to teach our kids all about it, loans, interest, etc.


Title: Re: Bitcoin for kids
Post by: marcus_of_augustus on July 03, 2012, 01:18:04 AM
I just remember it being a chore... having to teach them about counting back change, waiting for it at the counter and making sure it was right instead of getting ripped off.

now they just expect to see their balance go up every saturday morning when I pay their allowance and regretfully go down when they want something. it's a million times easier now with bitcoin because exchange rates and change are calculated for you. it's just a number to them now.

I rant about the government printing money to pay the bills and comment that it's not fair I dont get to do the same thing, but I don't think they are up to that level of conception yet. I'm expecting that to kick in in about 5 years when they start studying civics in school and hopefully we'll have another full libtard in our family by then.

Another advantage of system like this is to avoid having the kids every transactional move analysed by predators looking to mine information on the habits of our most vulnerable. Keeping the kids out of the banking system, as it it stands, is an excellent idea, in fact it is probably a moral duty of an self-respecting parent.

The kind of data that can be gleaned from the developing financial habits of the kids is probably a goldmine for the psycho-analysts ... and will probably live with the person forever, revealing their weaknesses to marketers, state-bodies, hackers and god-knows-who.



Title: Re: Bitcoin for kids
Post by: Tuxavant on July 03, 2012, 01:39:13 AM
Great point marcus... I also contemplated that Bitcoin for Kids is a much safer method of commerce - compared to meatspace lemonade stands - because there is no physical interaction and risk of kidnapping or molestation, etc. There really isn't even any need for them to be identified as kids at all. Parents only need to monitor for inappropriate communications.

I'd be much more at ease with my kid selling bracelets or some other home craft knicknack online with bitcoin than leaving them to sell lemonade on the corner - especially in light of recent events where cops want to arrest your kids for such vile acts in public.


Title: Re: Bitcoin for kids
Post by: cbeast on July 03, 2012, 03:19:48 AM
There is a thread here with some ideas for kid friendly BTC https://bitcointalk.org/index.php?topic=48301.msg576077#msg576077 (https://bitcointalk.org/index.php?topic=48301.msg576077#msg576077)


Title: Re: Bitcoin for kids
Post by: escrow.ms on November 25, 2013, 07:23:20 PM
Sorry for bumping old thread, I was also thinking about same thing and did google about it.

Bitcoins is a  really good payment system for kids, you can give them pocketmoney via bitcoins, teach them, how to save and spend them.

Since bitcoins price is high, mBTC denomination is good for them.