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Author Topic: Would bitcoin help teach kids about saving?  (Read 12793 times)
izanagi narukami
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July 10, 2017, 04:11:42 AM
 #41

Well ,.. bitcoin is complicated things since they must know about internet and money basic knowledge
Let say make example that bitcoin is a gold that are not in physical form but digital form so it can't be touch but it can be own
But I think it's not good idea to teach kids about saving using bitcoin since bitcoin also risky market

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July 10, 2017, 05:06:16 AM
 #42

It could be, like bitcoin mining, bitcoin mining can teach not to be wasteful, but be careful also with it. Sometimes on the miner's site there is doubled in the bet, be careful with it. Not only mining with bitcoin, but also to be taught more also about his finances to be used to save money i think. But it seems if a child plunged into the bitcoin world looks still less precise. You have to think about it because of the risk on it.

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July 10, 2017, 06:20:45 AM
 #43

Well ,.. bitcoin is complicated things since they must know about internet and money basic knowledge
Let say make example that bitcoin is a gold that are not in physical form but digital form so it can't be touch but it can be own
But I think it's not good idea to teach kids about saving using bitcoin since bitcoin also risky market

Its better to teach kids like on how to save money but with bitcoins is gonna be complicated indeed. Its better to teach them the physical form or paper money first before letting them know all about bitcoin. And it should also be like in a game because they will not take it seriously.

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July 10, 2017, 02:26:13 PM
 #44

Yes kids really helps saving bitcoin.Because in simply joining bitcoin compaigns they can have salary to wait.Just like my nephews they used to buy things they wanted to buy things they wanted to buy and the other they keep it for their future study.Bitcoin really helps to anybody who wants extra income.

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July 10, 2017, 02:29:33 PM
 #45

I don't see why bitcoin would have more teaching potential than fiat. Children should learn to save up a little bit of everything that has/stores any kind of value disregarding it being fiat or bitcoin.
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July 10, 2017, 03:40:30 PM
 #46

It's a personality that define what will person do with money or coins or something third. I am saver and my brother is a spender and he is not a wealthy man. In youth parents spoiled him a bit and there is no other way of doing or thinking for him. And I haven't seen that in my brother only. It is pretty much the same pattern for all the people that I am close with. So you can show someone a true example but at the end his real nature will do the thing.
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July 10, 2017, 03:45:15 PM
 #47

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 do not think bitcoin teaches anything, especially savings.  The one who are teaching kids about savings are the mature one,  though in your case you are trying to explain it through Bitcoin.  In short, anything about teaching someone to do something is not doings of Bitcoin but rather it is the action and influence of another people.  Bitcoin is just a cryptocurrency anything beyond that is influenced by people who wanted to do something with a use of Bitcoin.

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July 10, 2017, 03:50:28 PM
 #48

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 may not be best tool to teach about savings. But it will be an awesome tool to teach about investment. What one doll or race car is worth today...and what it will/could be worth in two weeks or two months. Depending age they may also learn how to trade at an early age....I think this is key as you can go through and entire US education system and barely know the basics of finances and investments. Start early that way they will have an easier and better understanding than most. Great job Uncle....

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chav216
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July 10, 2017, 03:55:19 PM
 #49

It's a personality that define what will person do with money or coins or something third. I am saver and my brother is a spender and he is not a wealthy man. In youth parents spoiled him a bit and there is no other way of doing or thinking for him. And I haven't seen that in my brother only. It is pretty much the same pattern for all the people that I am close with. So you can show someone a true example but at the end his real nature will do the thing.

That is very true...But I believe the big difference is insight and understanding. A person who is used to spending or wasting majority of their money is operating from habit, not necessity. Thus, with proper training and education they can see their faults and then choose to change...that part is solely on the person. But hey you don't chase someone into a zombie hoard saying nooooooooo.....Well some do. lmao

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bitcoinmasterlord
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July 10, 2017, 05:46:36 PM
 #50

Well ,.. bitcoin is complicated things since they must know about internet and money basic knowledge
Let say make example that bitcoin is a gold that are not in physical form but digital form so it can't be touch but it can be own
But I think it's not good idea to teach kids about saving using bitcoin since bitcoin also risky market
We can teach to young people means plus 10 children we can teach. But for school kids, this is not safe to teach them about this bitcoin. If they learn how to make money in early age, then they will not concentrate on their studies. Most of the kids will lose concentration on studies, and they think about how to make money in bitcoin. So this is not a good idea to teach bitcoin for your kids.

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July 10, 2017, 07:44:52 PM
 #51

I agree with you, it is inappropriate for children to learn about bitcoin at an early age, there are certainly many other areas of knowledge and education that they need to learn according to their age and would be more useful for children

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July 10, 2017, 08:07:12 PM
 #52

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?

In my opinion were just teaching them more how to spend much larger amount. I think it is better to teach kids such story telling story with lessons on spending. Show them illustrations or watch movies that tells how important saving is. Set an example for yourself or make a scenario that will show them what is the advantages of spending. Dont teach them how the market works yet, unless they are the one who are insisting to go such field. The basics are much important and learning can be acquired by experienced and studies. Be a guide to them.

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HanSchultz
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July 10, 2017, 08:44:29 PM
 #53

I agree with you, it is inappropriate for children to learn about bitcoin at an early age, there are certainly many other areas of knowledge and education that they need to learn according to their age and would be more useful for children
Yes that is a good point,but there are kids who invested in bitcoin at the age of 12,hope you saw the articles that says a kid who invest a few thousands is now a millionaire because of bitcoin,so there are kids in this platform and this is the only platform where age is not a hurdle. Smiley

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July 10, 2017, 10:37:43 PM
 #54

I don't see why bitcoin would have more teaching potential than fiat. Children should learn to save up a little bit of everything that has/stores any kind of value disregarding it being fiat or bitcoin.
Yes you are right that children should learn how to save everything we need to teach our children saving today many children are we need to tell them they should save something for their future as well if we will save today then they will also learn from us saving bitcoin is the best way of saving.

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July 10, 2017, 11:16:29 PM
 #55

I guess Yes, in such way that they will not get addicted in to it, like setting aside some daily chores just to have bitcoin in their wallets, just let them teach and together with discipline that it needed, because for sure their eyes will be lightened with the figures that they can see, the price will be sparkling in their eyes. Bitcoin is a good way of investing and at the same time for saving money, but also try to teach them.using fiat currency for ssure it will them more with that.

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July 10, 2017, 11:23:14 PM
 #56

Bitcoin would be the perfect practical example to show kids that saving does really work...after a year or so you can get them there most desired toy and when the kids grow you can use the money for their college or get them their first car and once they learn this financial discipline they too will pass it on to coming generation and financial literacy will be coded in us.

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July 11, 2017, 07:50:41 AM
 #57

It may be a bit too complicated or advanced for kids' understanding to incorporate bitcoin in teaching them savings. There are a lot of simplier things that we can use to teach kids about this. Like games and playing. A parent can be pretty creative in teaching kids pretty much about anything and i think bitcoin isn't really a thing a kid would understand that much

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July 11, 2017, 08:07:22 AM
 #58

I think children in the modern world will learn how to earn money with bitcoin when the time comes. If they are too early to train them, they will be uninteresting and they may lose interest in this direction. It's better to collect the bitcoins yourself so that you can give them to the children later.

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July 11, 2017, 08:14:30 AM
 #59

putting bitcoin in an hands of kid is dangerous, they ar eknown to download many stuff that might compromise their wallet, security it's the first thing to learn when you deal with bitcoin

if an adult is handling their coin, could be ok, but i would not give bitcoin to my kids for example, and i don't think they can understand yet, the importance of holding especially now with all the drama...
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July 11, 2017, 08:56:52 AM
 #60

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?

There are other ways to teach kids how to save rather than relying on bitcoin after all several of us didn't know anything about bitcoin when we were growing up but that does not mean we don't know how to save or never inculcate the habit of saving. A piggy bank is what a young chap needs and at the end of the year, he would realise how much he has been able to save in the period of time rather than spending it on groceries and things that are not worthy as such.
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