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Author Topic: Would bitcoin help teach kids about saving?  (Read 12602 times)
masterwakokok7
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August 14, 2017, 05:27:35 AM
 #161

Bitcoin's world is very much complex and I think it's not a good thing for them to engage in this kind of industry unless you will be guiding them all through out and monitor all their activities. As we all know that Bitcoin is a digital currency, they can earn without investing money so basically they can easily spend it on the way the wanted. Let us not forget that Gambling is also part of the Bitcoin world. With out proper monitoring or guidance, your cousin/s might do engage in gambling without you or his/her parents noticing it. In result, it can give a lot of negative outcome in the future.

The idea of Bitcoin helping kids to save is there. But, knowing that they are fond of spending and they don't care about losing money in this industry. Teaching one kid to save will took a lot process, and by engaging them in the digital currency world in which they don't hold an actual money they could easily waste it by doing such things.

PS: If you really wanted to teach your cousins how to save, then probably talk to the parents of this kids. This kind of issues is really not your problem though if you want to help then do tell it to their parents.

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August 14, 2017, 06:46:58 AM
 #162

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

Well, I guess it can teach kids about saving, but I think there are bigger problems to tackle for our generation's education than introducing them to Bitcoin.
Bitcoin generally is a very complex structure (as mentioned by masterwakokok7) and it may not be such a good idea to introduce the young to this world of the blockchain just yet. Saving or spending is up to themselves to decide, and while Bitcoin has the potential to enforce saving, it ultimately comes down to the character of the individual to decide that.
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August 14, 2017, 09:04:03 AM
 #163

Bitcoin can be a huge help for the kids to make them a mindset to save money because if they will save money in bitcoin then they can see that their money is growing and that will be amazing to the kids eyes and that will convince them to save more so they can have more chance for a bigger grows for their money, it can also help them to teach about investing because bitcoin's value is growing.

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August 14, 2017, 10:02:18 AM
 #164

Bitcoin can be a huge help for the kids to make them a mindset to save money because if they will save money in bitcoin then they can see that their money is growing and that will be amazing to the kids eyes and that will convince them to save more so they can have more chance for a bigger grows for their money, it can also help them to teach about investing because bitcoin's value is growing.
In bitcoins there are many process two to three phase after they will able to withdraw but i think it is how their family mindset their kids on savings because regardless the bitcoins if the parents don't teach their kids how to save money.

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August 14, 2017, 11:06:31 AM
 #165

yes it would be big help for kids , in my opinion if we teaches them in way that they could understand easily to save bitcoin it will be good , and they can benifit  in that ,, its for them in the future , while they are young they must know how important is saving money/bitcoin.
I think its not more important to teach the kid to save money.because if you say that if kid know more about bitcoin and earn money from this i thought it have a factor to be luxurious. I believe it is depends on how you guide your kid on how to control or to be a systematize user of money/bitcoin in thier everyday life.

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August 14, 2017, 08:01:57 PM
 #166

I see no reason why Bitcoin would learn to kids more about saving than fiat money. I think this is even the contrary because fiat money can be touched.
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August 14, 2017, 08:29:29 PM
 #167

First off there is a flaw in your statement. Mining Bitcoins is not the only way to make a lot of Bitcoin. There are other methods to earn a lot of Bitcoin in a short period of time. Take for example trading altcoins. Altcoins are coins made specifically for trading and making money. Their prices are highly jumpy or volatile making them great for making profits in short periods; i.e. trading.
Another method is via offering your skills in this forum or another site (for example a freelancing site). They offer a variety of jobs each with a certain budget. There is a thread made on this forum with a list of jobs that you can do for earning Bitcoin: https://bitcointalk.org/index.php?topic=1777912

But of course, all of this depends on how old your cousins are. Anyways, back to your question. For this reason that I outlined above, I don’t see how Bitcoin is any better at teaching your cousins to save rather than spend. The fact that the price is continually increasing and the fact that you can barely spend Bitcoin on anything may help them save, but not because mining is the only way to make a lot of Bitcoin. That is just plain wrong.

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August 14, 2017, 11:41:25 PM
 #168

Bitcoin is a good method for learning kids, because it can combine saving and investment, in fact if we only teach saving then one day kids will feel the money does not increase, but with bitcoin money can increase because the price is always up.

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August 14, 2017, 11:44:51 PM
 #169

Bitcoin can be a huge help for the kids to make them a mindset to save money because if they will save money in bitcoin then they can see that their money is growing and that will be amazing to the kids eyes and that will convince them to save more so they can have more chance for a bigger grows for their money, it can also help them to teach about investing because bitcoin's value is growing.
I think children and the young generation are our future so! Teaching them about saving is a good idea because saving is the need of the day so I think it is good to teach our children about saving but bitcoin is the new invention and it is the new age now we can save a lot of money through digital currency now slowly kids should be involved in it if they are interested in it so teaching children about bitcoin will be a good step.

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August 14, 2017, 11:51:03 PM
 #170

You can teach them about saving without using bitcoin. Saving is so important to teach now to young people because we need to save money for the future so for individual we need to save small amount every week or every monthly.
Yeah you are right one of the basic teaching for children now a days is saving. This is what will make them a very successful person. Because if you know how to save then you can go through loss easily. And if you teach them through bitcoin then it will be better for them as from this they will also be able to learn many things about trading.

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August 15, 2017, 03:25:43 AM
 #171

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

It is good always to start the children in teaching how and why to save when their mindset is still very much open to many nice suggestions. There is nothing wrong with spending money because we must also do it but we have to know the limits of what we can spend.

I am sure that a saver in Bitcoin would have a bright future because the value of the currency is now rapidly rising. Unlike in the traditional banking where money seems not to be moving, here in Bitcoin it is an amazing journey. More and more kids should be joining us in the Bitcoin community.

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August 15, 2017, 03:41:43 AM
 #172

Part of it i would say yes.it is important to save your money for your future In my part, i am now saving my money to invest in bitcoin. I manage to budget my money wisely unlike before i always find time to go shoping ang buy the things that i only wanted to have but now i only go for things that i basically need.

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August 15, 2017, 03:47:38 AM
 #173

I think yes becuase many kids now are addicted to onlinegames. i think children need to know this bitcoin for their future and bitcoin can change children to save more money and or become a rich like others by using bitcoin Smiley

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August 15, 2017, 04:01:25 AM
 #174

You can teach them about saving without using bitcoin. Saving is so important to teach now to young people because we need to save money for the future so for individual we need to save small amount every week or every monthly.

Yes, saving is something that we all need to do. It will help us to appreciate the money that we make. In addition to teaching them, let them make money themselves, they will appreciate it more.

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August 15, 2017, 04:21:17 AM
 #175

You can teach them about saving without using bitcoin. Saving is so important to teach now to young people because we need to save money for the future so for individual we need to save small amount every week or every monthly.

Saving is an essential feature in everybody life . This helps you to be a disciplined person in your life . So early we yeah the kids better it is in thier life . Bitcoin will be the future money so if also taught about Bitcoin will help them to stay saving from now so that it's true value will be realised once they grow up and get those profits by sell It .

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August 15, 2017, 05:24:28 AM
 #176

I think it depends on their age and level of understanding. I am an adult and I admit that there are still many things I need to learn about bitcoin. But if your intention is teaching them how to save, why not try helping them save for their own toys? They would not have a new one until they have saved enough. I think that would teach them as kids (and even adults) learn more from experience. Teaching them bitcoin coupd just follower later.

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August 15, 2017, 05:31:17 AM
 #177

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I don't think so. For me kids are not yet rrady to encounter the world bitcoin.

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August 15, 2017, 06:59:25 AM
 #178

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I don't think so. For me kids are not yet rrady to encounter the world bitcoin.

Lets face it, it can. It can help kids understand more about handling money. But its not necessary. There will be ways that are more suited for kids to learn about saving and the likes. Crypto i think would be too complicated for most since its a business matter already.

Rizky Aditya
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August 15, 2017, 09:09:38 AM
 #179

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think it would, but it's easier to teach kids to save if you will use simpler ways because kids have a small span of focus time. And, kids might not even be interested in bitcoin since bitcoin is to complex. It would be great if they will learn it through games or simply by giving them a piggy bank. It's good to teach kids to save while they are young because it would help them in the future.
Though kids have sharper minds but it would be unfair to introduce them to bitcoins too early. They should be given the basic idea but not the whole story should be told to them. The piggy bank idea works well for them since it is a simplest way of teaching them about savings.

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August 15, 2017, 09:39:09 AM
 #180

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think it would, but it's easier to teach kids to save if you will use simpler ways because kids have a small span of focus time. And, kids might not even be interested in bitcoin since bitcoin is to complex. It would be great if they will learn it through games or simply by giving them a piggy bank. It's good to teach kids to save while they are young because it would help them in the future.
Though kids have sharper minds but it would be unfair to introduce them to bitcoins too early. They should be given the basic idea but not the whole story should be told to them. The piggy bank idea works well for them since it is a simplest way of teaching them about savings.
I agree that their piggy banks is a good way to teach them about savings but if they will save in bitcoin then they can let their money grow in bitcoin rather than stocking it on an idle piggy bank. Bitcoin is like the newer version of piggy bank and if we want to teach our kids about investment and savings then we can let them know and use bitcoin.

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