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Author Topic: Would bitcoin help teach kids about saving?  (Read 12801 times)
JC btc
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October 06, 2017, 12:10:31 PM
 #221

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?
For now BTC is a highly speculative asset based on a great and disruptive technology. It has lot and lot more to teach than only saving. However the promisse of huge profit is always a good motivator towards saving, so you might try it:)
We can teach kids in saving money at all times, they should know the value of saving money while they are young so that in case of emergency they have money to fund what they need to pay or buy. Since we are now in modern industry of cryptocurrency it is more important to teach them for their future, teach and show them the advantage and will hapeen if they save bitcoin/money.

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October 07, 2017, 01:15:13 AM
 #222

Ofcourse! Handling a bitcoin is not easy. You need to be smart on holding money and coins in particular. As of for kids, it will help them manage money properly via bitcoin.

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October 07, 2017, 03:11:25 AM
 #223

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?

Bitcoin can be a good way to teach them but I think the much better way would be to make them save fiat first because being kids, I think they don't understand it that much what bitcoin is and they can relate more with fiat. You can start teaching them how to save fiat like making them save money for the things that they really wanted. I would not want the kids to think that they can easily get money just by asking their parents but somehow they should learn the value of it. When their savings is enough then they can use it freely because in that way they would realize the importance of saving.

You can teach them also about bitcoin because I'm pretty sure someday they would really appreciate it that they learn early about it from you when the time comes digital currency would be that valuable.



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October 09, 2017, 08:31:46 AM
 #224

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?
For now BTC is a highly speculative asset based on a great and disruptive technology. It has lot and lot more to teach than only saving. However the promisse of huge profit is always a good motivator towards saving, so you might try it:)
We can teach kids in saving money at all times, they should know the value of saving money while they are young so that in case of emergency they have money to fund what they need to pay or buy. Since we are now in modern industry of cryptocurrency it is more important to teach them for their future, teach and show them the advantage and will hapeen if they save bitcoin/money.
It is good to teach kids about saving for their own betterment but there is no need to push little brains a lot. I dont' think they can really understand the meaning of crypto currencies, I mean not most of them can earn bitcoin.
Mining, Signature Campaigns, Trading all methods are above their levels. However if they save some amount from their pocket money and ask elders to spend it in bitcoin, it may work.


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October 09, 2017, 09:21:18 AM
 #225

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?

Bitcoin can be a good way to teach them but I think the much better way would be to make them save fiat first because being kids, I think they don't understand it that much what bitcoin is and they can relate more with fiat. You can start teaching them how to save fiat like making them save money for the things that they really wanted. I would not want the kids to think that they can easily get money just by asking their parents but somehow they should learn the value of it. When their savings is enough then they can use it freely because in that way they would realize the importance of saving.

You can teach them also about bitcoin because I'm pretty sure someday they would really appreciate it that they learn early about it from you when the time comes digital currency would be that valuable.

The first rule of saving is to learn how to keep yourself on the ground. People, once they have made money, forget that they were really poor back then and that they have a lot of necessities to buy first. I see people all the time holding an iPhone but don't even have a good house. The amount of money spent for the iPhone isn't enough to renovate the house, of course, but that can be a part of the budget of the house. Most people spend on the things they want instead of the things that they need. Another thing, once people have started making money, it's as if their hands can't keep calm until they have spent a ridiculous amount of money on ridiculous things. They should understand that their money isn't unlimited, it's still a very scarce resource. They might be making money now but all that might stop in a moment.

Teach kids the value of money, teach them how to prioritize their expenses, and they themselves will start becoming wise on spending and end up saving money. See, bitcoin is not needed at all to teach kids about saving.

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October 09, 2017, 10:12:33 AM
 #226

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?

First, don't think that mining bitcoin is the "only" way to make a lot of bitcoin. You should change that mindset because right now, there's a lot of way to make bitcoin and if you want to have a better and stable way learn it with trading.

But the idea of teaching them and giving them lesson about proper saving is a good thing. And with bitcoin, you are teaching two things at the same time.

It's like two birds at one stone, teaching and investing. Pursue that thing because one day, those kids will be our future.

.

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October 09, 2017, 10:43:57 AM
 #227

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 think, we should be the one who will teach our families and relatives about bitcoin. Bitcoin should not be teach by school because it has a different genre or idea of teaching. If we want our families and relatives to know how to save and have an idea about bitcoin, we can be their teachers.

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October 09, 2017, 12:45:40 PM
 #228

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 think, we should be the one who will teach our families and relatives about bitcoin. Bitcoin should not be teach by school because it has a different genre or idea of teaching. If we want our families and relatives to know how to save and have an idea about bitcoin, we can be their teachers.
I agree that we should be the one who will be teaching our family because it will help us to have some family bonding with teaching lessons in bitcoin and it will make you closer to your family and you will also help your family to understand bitcoin and help your family and other relatives to make money from bitcoin and it can lead to a lot of things like getting a better life for them.

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October 09, 2017, 02:10:24 PM
 #229

It can be good for anyone, as long as they can understand the ideology of it. And maybe for kids, it would be quite difficult to know all the things, or to keep patience as much as needed for bitcoin. Because bitcoin does not always make you happy, but sometimes it can make you worry as well when the price starts dropping. A new person to it, specially a kid might start panicking immediately after seeing something like this. So if a kid can take all these things, then why not?

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October 09, 2017, 03:41:56 PM
 #230

This is a unique idea, because the presence of bitcoin becomes the best choice for saving money, if saving money we get interest but with bitcoin we do not get interest but the extraordinary price increase.

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October 09, 2017, 04:53:17 PM
 #231

Saving with bitcoin is a very good thing especially for kids, when compared with saving money of course saving bitcoin better and profitable.

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October 09, 2017, 05:24:39 PM
 #232

bitcoin does not teach children to be able to saving. many things can be taught to them so they can save at a young age. such as just giving some money to your child and the rest you recommend to saving. bitcoin will not teach a child to this. bitcoin teaches children to trade

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pitiflin
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October 09, 2017, 06:15:21 PM
 #233

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?
What about trading? And what's the use by showing them your cryptowallet to kids ,it doesn't work like that in real life, because when you hold fiat currency in your hand it doesn't change its value, if it's 10$,it will be 10$ forever, it won't become 20$ or 100$ just like that, there needs to be some kind of investment for some change in value of your income. Parents will need to teach their kids on how to save money, crypto is not for such purposes.

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October 09, 2017, 06:20:30 PM
 #234

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 hardly think that this will help you in anyway to help your cousins to understand benefits of saving money. It's completely different thing to be saved by us, the investors who knows that saving will grow the market value of our coin so that we can have more out of it. For kids I don't think that they have any more understanding of what us profit and what's loss. Why they should really know about it in such young age, they will learn the thing once they get upto proper age. Let's give them some freedom for now from the personal life maths ;-)



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October 09, 2017, 08:56:25 PM
 #235

Of course! Imagine you were a father and were involved in bitcoin, and you have kids. That would be a good opportunity for them to be taught about bitcoin and about saving. If you want to raise a good kid, give him the basics. Do not spoil him much because if you do so, he will not become someone who saves his money. So all you have to do is make them save bitcoin as much as they can. Teach them the value of bitcoin and how they can get rich (like their father) if they save bitcoin. Teach them how to use it and eventually you will be able to raise fine children, trust me.

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October 09, 2017, 09:56:07 PM
 #236

Of course! Imagine you were a father and were involved in bitcoin, and you have kids. That would be a good opportunity for them to be taught about bitcoin and about saving. If you want to raise a good kid, give him the basics. Do not spoil him much because if you do so, he will not become someone who saves his money. So all you have to do is make them save bitcoin as much as they can. Teach them the value of bitcoin and how they can get rich (like their father) if they save bitcoin. Teach them how to use it and eventually you will be able to raise fine children, trust me.
yes i agree i think bitcoin really helps teach everyone to make savings and extend to averybody what will be the advantage if you save bitcoin today.i think we should guide the kids on this .we are responsible on this field.kids where not going to be  interested but if we tell to them slowly maybe they can slowly understand and maybe if they well get old they know that savings well work .


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October 09, 2017, 10:24:55 PM
 #237

Of course! Imagine you were a father and were involved in bitcoin, and you have kids. That would be a good opportunity for them to be taught about bitcoin and about saving. If you want to raise a good kid, give him the basics. Do not spoil him much because if you do so, he will not become someone who saves his money. So all you have to do is make them save bitcoin as much as they can. Teach them the value of bitcoin and how they can get rich (like their father) if they save bitcoin. Teach them how to use it and eventually you will be able to raise fine children, trust me.
yes i agree i think bitcoin really helps teach everyone to make savings and extend to averybody what will be the advantage if you save bitcoin today.i think we should guide the kids on this .we are responsible on this field.kids where not going to be  interested but if we tell to them slowly maybe they can slowly understand and maybe if they well get old they know that savings well work .


Well its good to teach our children in practicing saving but i don't think bitcoin is appropriate for that as to impart to our children on how to save because they have different views were bitcoin partly belongs due to many circumstances that bitcoin is  associated by many bad influence.

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October 09, 2017, 10:35:03 PM
 #238

It will help them to know about saving but for me, you don't have to give an example such as bitcoin. Saving is being taught in schools or if not it all depends to their teachers or tutors. As an adult to those kids, you should be the to teach them even with bitcoin or not but the idea of it is good because you are trying to do your best to let them understand about the importance of saving and that's a good thing.



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October 09, 2017, 10:35:19 PM
 #239

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?

Bitcoin can be a good way to teach them but I think the much better way would be to make them save fiat first because being kids, I think they don't understand it that much what bitcoin is and they can relate more with fiat. You can start teaching them how to save fiat like making them save money for the things that they really wanted. I would not want the kids to think that they can easily get money just by asking their parents but somehow they should learn the value of it. When their savings is enough then they can use it freely because in that way they would realize the importance of saving.

You can teach them also about bitcoin because I'm pretty sure someday they would really appreciate it that they learn early about it from you when the time comes digital currency would be that valuable.

The first rule of saving is to learn how to keep yourself on the ground. People, once they have made money, forget that they were really poor back then and that they have a lot of necessities to buy first. I see people all the time holding an iPhone but don't even have a good house. The amount of money spent for the iPhone isn't enough to renovate the house, of course, but that can be a part of the budget of the house. Most people spend on the things they want instead of the things that they need. Another thing, once people have started making money, it's as if their hands can't keep calm until they have spent a ridiculous amount of money on ridiculous things. They should understand that their money isn't unlimited, it's still a very scarce resource. They might be making money now but all that might stop in a moment.

Teach kids the value of money, teach them how to prioritize their expenses, and they themselves will start becoming wise on spending and end up saving money. See, bitcoin is not needed at all to teach kids about saving.
I think yes kids can learn from their elders how they are saving and investing and the best place for their learning is bitcoin world. I mean if I invest in bitcoin and tell my son that I have bought some digital currency which is not only a digital coin business but also like a regular currency. I can use my bitcoin anywhere in the world for purchasing anything. He will definitely take interest in bitcoin.
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October 09, 2017, 10:44:18 PM
 #240

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 really think so. Because we all know that when we save our money with bitcoin, our initial knowledge is that our money will grow with just a span of time. If you will ever try it into application with your cousins, probably they will truly understand the essence of saving money for their future not just with using bitcoin but also they can apply it into other things that they usually do. Bitcoin can somewhat make them realize the importance of saving and that it is really beneficial in any perspective you can see it.

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