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Author Topic: Would bitcoin help teach kids about saving?  (Read 12504 times)
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October 28, 2017, 07:15:50 AM
 #321

In my opinion, yes but not in the sense of saving but more on holding it, they might hold their money expecting it to grow more in value just like what holding bitcoin.

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October 28, 2017, 09:18:53 PM
 #322

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.
We do not need money to teach about kids about saving, you could use candy, you could give to them some candy and tell them that if they keep that candy for some days that they are going to receive more candy in return then you explain to them the same happens to money and bitcoin and they are going to be able to grasp the concept immediately and understand the concept of saving.
I think the 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. My kid will definitely take keen interest in bitcoin and for which he will try to save.
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October 28, 2017, 10:35:27 PM
 #323

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.
We do not need money to teach about kids about saving, you could use candy, you could give to them some candy and tell them that if they keep that candy for some days that they are going to receive more candy in return then you explain to them the same happens to money and bitcoin and they are going to be able to grasp the concept immediately and understand the concept of saving.
I think the 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. My kid will definitely take keen interest in bitcoin and for which he will try to save.
Do you think you should be teaching a kid anything about bitcoin ?you’re better off helping with school assignments rather teaching them something give them distraction.it's not time to teach them about bitcoin. It'ss okay to teach them how to save of what their parents give to them not by doing things to have profit or any investment. Getting into bitcoin world isn't easy as you think.

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October 29, 2017, 02:16:30 AM
 #324

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?
Learning bitcoin for kids would partly teach them how to save. In such a way that they will know how money in the form of bitcoin is earned. Kids would appreciate the importance of money if they already experience how to obtain it. However,  since they are still kids, they must still be guided inorder not to be overwhelmed on the earnings. If they will be misguided, they will still end up spending what is supposed to be saved.
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October 29, 2017, 02:33:34 AM
 #325

I think bitcoin will not teach kids about saving but bitcoin will teach them about how the medium of exchange can greatly affect the world's economy,  kids will not understand in detail but atleast they will now the rule of supply and demand that can affect their financial.

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October 29, 2017, 03:43:55 AM
 #326

Yes definitely, alt coins can be a detrimental factor in teaching young children about savings and investment. Here they can see real time fluctuation and how they can make profit out of this. They can learn about the market here with bitcoins and can develop their interest in savings.
Yes, some alt coins are also good and maybe it is better if we can have alt coins and bitcoin at the same time and teach our children about it if they can really understand it very well. I think by the age of 13 they can truly understand us about this and for them to develop their skills about investing and saving money.



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October 29, 2017, 03:46:04 AM
 #327

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?

That could be an innovative way on how you can teach your two cousins about saving, investing and spending. I'm sure it can help them but you have to explain it to them in layman's term. They have to understand it simply. Surely they can with proper education on these kids can do it.

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October 29, 2017, 03:54:59 AM
 #328

Yeah, It is a great thing to do. Teach the kids about the bitcoin and ether. let know to them the value of crypto currency and what are their trends. They will know how money in the form of bitcoin is earned. Rather than spending teach about holding the bitcoin.
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October 29, 2017, 05:02:17 AM
 #329

Yes, it could be good thing for them, in according to teach them bitcoin should be legal in their countries by their government. Bitcoin will help them in their future..Bitcoin will makes them financial independent. Today's kids are smart enough to learn any thing. But bitcoin is a totally high level and new thing for them so I think it will be taking some time to learn. Bitcoin not just make them fincial independent it also connected the  kids to the world. They will be express their thoughts in different subject.

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October 29, 2017, 07:09:36 AM
 #330

i think bitcoin can teach kids to saving their bitcoin in their wallet because once they are doing something in bitcoin, we can teach them to not use to spend that bitcoin and only save it for their future. I think our children can understand if we can explain to them and they can save more bitcoin while they are doing their activity in bitcoin. fortunately, if they are playing some faucet without thinking about how much the rewards, in the end they can collect some amount and and if they want to sell, they can directly sell to the exchanges.


 
 
 
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October 29, 2017, 07:50:45 AM
 #331

Yes. I think teaching children on how to spend their money wisely can help them save.
Saving is indeed the best in the lives of all of us and it is saving which can help us at the time of need. I must say that it is the duty of the elders especially the parents to develop this habit of saving money in their children and that from the very beginning. If the kids to manage to learn how to spend their money wisely at early ages of life, then they will for sure be able to do well in their practical lives.


 
 
 
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October 29, 2017, 08:29:48 AM
 #332

In my opinion, yes but not in the sense of saving but more on holding it, they might hold their money expecting it to grow more in value just like what holding bitcoin.

i think that savings and holing are still the same and  i believe bitcoin can help or teach people not only kids on  how to save and to have a patience to wait for the right time for them to sell in order to get better profit. so i guess its better to teach kids about bitcoin as early as possible in order for them to understand it properly and know what are the risk and consequences they might consider in order to be succesffull in this field.

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October 29, 2017, 09:49:30 AM
 #333

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.
We do not need money to teach about kids about saving, you could use candy, you could give to them some candy and tell them that if they keep that candy for some days that they are going to receive more candy in return then you explain to them the same happens to money and bitcoin and they are going to be able to grasp the concept immediately and understand the concept of saving.
I think the 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. My kid will definitely take keen interest in bitcoin and for which he will try to save.
i can be sure that they will find it difficult to understand it dude, they will be hard to understand how to convert bitcoin to fiat and why bitcoin prices can be fluctuating that make their money savings decrease when bitcoin prices go down?
i think to teach children how to save should use local currency dude, teach them by saving some of their pocket money into a piggy bank



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October 29, 2017, 11:09:16 AM
 #334

Kids can learn here on how to save but that also depends on a kid,if his thrifty or not. But I dont suggest them to get involve here in bitcoin at their early age. There are a lot of things to explore in theirselves first and radiation may affect their health. Once they are ready at the right age then why not

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October 29, 2017, 11:36:09 AM
 #335

Bitcoin acts a lot like money and just like money, bitcoin can teach kids how to save but it can also teach kids how to recklessly spend their money. There are different ways in earning bitcoins. Of course there will be kids in the future that have parents invested in bitcoin long ago and just give them bitcoins. It will be the new world's silver spoon. If they have made the bitcoin like that, by just having it given to them without really earning the coins, then they are just going to spend it recklessly. The only chance for them to save money is if it's naturally in their genes but more often than not, they are going to just spend it since they didn't do anything to have it. Another thing, if they have the assurance that there will be some bitcoins sent to them again in the future, then surely they are not going to save it.

I do believe that it's scarcity of resource (in this case, money) that leads a kid to learning how to save. I lived a childhood without any money at all and now that I'm making some money, then I guess that's what made me save up all these money for future purposes and investments.

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hacker1001101001
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October 29, 2017, 11:42:20 AM
 #336

It would really depend on their age. If they are enough mature to get what is it then sirrly they will understand it and will start saving them but if they are not too maturr then definately they wont get much and they would continue living their life as they are.

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October 29, 2017, 11:47:07 AM
 #337

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 If you and your friends and family was unable to teach them how to save or to save money for future then how can you expect that by seeing bitcoin they will learn about saving. you can say them save now and get millionaire after a few years but why Bitcoin? You can ask them to save some other things like gold which are  stable and we know that they will surely give us profit on the other hand Bitcoin we always afraid that It will get banned or its price will go down etc.
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October 29, 2017, 07:53:32 PM
 #338

I think bitcoin will not teach kids about saving but bitcoin will teach them about how the medium of exchange can greatly affect the world's economy,  kids will not understand in detail but atleast they will now the rule of supply and demand that can affect their financial.
Kids are not having this much of mind that they can understand these concept of bitcoin and saving and that too at the early ages of their lives. You can tell them about bitcoin as well as saving but telling them at that age is not a good thing. Bitcoin can really help all of us in learning so many good things but for that you need to have this much of age that you can actually understand the things well.

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October 29, 2017, 08:05:17 PM
 #339

Most definitely Bitcoin would help teach kids about saving because first they would have to understand what sound money is before the choose which currency to save in, and they'd conclude BTC would be the easiest.

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October 29, 2017, 08:22:08 PM
 #340

Well I think Bitcoin won't be a big help for a kid to learn to save money. Bitcoin is not a factor. A factor to kid's saving money is his control to the money. He should be wise enough on how to use the money properly. Use it for good purposes not on luxuries or desires.

I think that bitcoin would help kids about saving. They should know at early age that saving is necessary in one's life. It is an assurance and a platform to preparation. Through bitcoin they will be guided to earn and to save at the same time. They would have big hope for their future.

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