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Author Topic: Would bitcoin help teach kids about saving?  (Read 12820 times)
giarised
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November 16, 2017, 08:07:01 AM
 #501

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's a great idea! I will do the same with mine cousins)
Thank you Wink
Yeah it is best idea to work on and then you will be making a generation that will knows about bitcoin even in this age. Later on, when in their adult time bitcoin will be leading the international market then they will be the leading traders of the time if they would keep their interest in it. I think in schools, there must be some briefing about bitcoin as it is the future.

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November 16, 2017, 12:54:25 PM
 #502

Kids ought to first learn about conserving and then on bitcoins.
Kids have a lot of ability to pick new things in the good ways and this will be more useful for the kids to teach them about bitcoin because this innovation is their era thing and this will help them in future to survive because in their future cash will not be used and everything will be digitalized so schools must start this coin teaching as subject and this will produce the best and successful bitcoin user in future.
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November 16, 2017, 12:59:34 PM
 #503

In my own point of view i think yes. This would truly help kids think about saving. They will be able to know how to wait patiently when saving their own money. The best thing about it is that while they wait they would eventually think their money is getting bigger. That is if they learn about bitcoin. We all know the standing of bitcoin in our present economy. It has the highest exchange rate compared to other currency in the world. This is actually very nice since it is more profitable when you save bitcoin rather than saving it in a bank which has fixed charge. So meaning if kids nowadays learn about bitcoin they would definitely learn how to save because sooner they will have bigger amount of money to get.

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November 16, 2017, 01:00:28 PM
 #504

Yes it  can really really help more importantly the third world countries and other country that has a  high poverty rate on the lqst years. It can help because kids dont have huge expenses yet and has a good grasp of money that they dont urge to spend so much of it if you teach them how to control yourself.

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November 16, 2017, 05:49:36 PM
 #505

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 teach bitcoin about the importance of money. However, the problem is that, bitcoin is very complicated for kids to understand. It took me sometime to completely understand the concept of bitcoin. I am still learning about bitcoin so I guess bitcoin is really complicated to understand.
Nope it is not that much complicated. Kid’s minds are very sharp nowadays and they will learn bitcoin easily and after that they will surely chose bitcoin as a proper field to work in, this step will be the first step toward the digital world so this program must be started as it will people choice to send their kids to learn bitcoin and chose right and profitable field for them and btc will deliver good profit in this mode.
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November 16, 2017, 06:20:30 PM
 #506

How old are your cousins? If i may ask. You didn't mention. If they are of very young age, will they be able to understand anything about bitcoin. However you explain it to them, it will be like talking in air. Literally. Nobody listens. Save your breath.
But if they are of age, then it's another thing. Talking them to learn about bitcoin and explaining with keenness will probably give you a fruitful reward. Show them what bitcoin is capable to do and what they can accomplished if ever they decide to start saving on bitcoins.

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November 17, 2017, 05:28:13 AM
 #507

Saving is a great thing to attend the age of the kids. They can make sure they are familiar with conserving. Bitcoin could be a great instance on their behalf whenever you will tell them about saving particularly when they will use electronic currency to save. But if you are going to give an example of bitcoin, then it is best to give a very first explanation of how bitcoin prices can change.
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November 17, 2017, 07:30:31 AM
 #508

Saving is a great thing to attend the age of the kids. They can make sure they are familiar with conserving. Bitcoin could be a great instance on their behalf whenever you will tell them about saving particularly when they will use electronic currency to save. But if you are going to give an example of bitcoin, then it is best to give a very first explanation of how bitcoin prices can change.

This is very dangerous because bitcoin bases are an investment, many bitcoin businesses are not on the internet uncontrollable and will allow children to spend their savings in gambling or hyip, this is highly discouraged and better only taught by children aged 17+.

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November 17, 2017, 10:04:54 AM
 #509

This would depend on who is going to teach them, if the person that is going to teach them doesn't have any Bitcoin knowledge at all, then there is no point to that person teaching bitcoins. We should all start teaching our children the value of money at a young age, it is much better, the moment they learn how to do simple math, we show them already what and how investment is , we do no need to be technical, we can simplify it for them, so in time, when it is their turn to invest, they already have the advantage and for sure they will enjoy every step along the way.

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November 17, 2017, 10:35:21 AM
 #510

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 teach kids to save thier money in able to have a saving that may promote to not spend their money for a useless reasons or things. through the help of btc it creates more investing and savings.

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November 17, 2017, 10:40:44 AM
 #511

Saving is a great thing to attend the age of the kids. They can make sure they are familiar with conserving. Bitcoin could be a great instance on their behalf whenever you will tell them about saving particularly when they will use electronic currency to save. But if you are going to give an example of bitcoin, then it is best to give a very first explanation of how bitcoin prices can change.

This is very dangerous because bitcoin bases are an investment, many bitcoin businesses are not on the internet uncontrollable and will allow children to spend their savings in gambling or hyip, this is highly discouraged and better only taught by children aged 17+.

Yes it was too dangerous but I guess there are kids that really wants to know about this. It is good for them because saving money for there future was great. I know its too difficult for kids to learn this kind of transactions but there are kids that are fast learners and I guess they will enjoy this and they can save money in there future for there own good. Bitcoin I guess is not a gambling, infact it really a big help for people that doesn't have enough job. For kids, I guess we can never force them but if they want to learn, then why not? right? It was good for them.

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November 17, 2017, 11:50:56 AM
 #512

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?

So you mean your cousins are just “kids”. First of all they are just “kids”, so they do not think like adult thinks. They do not know yet how to earn money or how difficult is to earn money in short they do not know the real value of money. Furthermore, most kids only knows how to spend although some of them matured early so they save money but I think bitcoin will not be a help to teach kids about savings.
Mining ? “only way to make alot of bitcoin” ? Yes mining can make bitcoin, but we can also earn bitcoin. I do not do mining but I have bitcoin.

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November 17, 2017, 02:31:45 PM
 #513

Saving is a great thing to attend the age of the kids. They can make sure they are familiar with conserving. Bitcoin could be a great instance on their behalf whenever you will tell them about saving particularly when they will use electronic currency to save. But if you are going to give an example of bitcoin, then it is best to give a very first explanation of how bitcoin prices can change.

This is very dangerous because bitcoin bases are an investment, many bitcoin businesses are not on the internet uncontrollable and will allow children to spend their savings in gambling or hyip, this is highly discouraged and better only taught by children aged 17+.

Yes it was too dangerous but I guess there are kids that really wants to know about this. It is good for them because saving money for there future was great. I know its too difficult for kids to learn this kind of transactions but there are kids that are fast learners and I guess they will enjoy this and they can save money in there future for there own good. Bitcoin I guess is not a gambling, infact it really a big help for people that doesn't have enough job. For kids, I guess we can never force them but if they want to learn, then why not? right? It was good for them.
If they want to learn how to use and earn in bitcoin then we should not become a hindrance for them and we should guide them into the right path in order to take them in a right way of earning bitcoin but if they don't like it then we should not force them because it will just result for having a gap in our closure between the kids and we need to wait for the time where they will get interested.

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November 17, 2017, 06:21:51 PM
 #514

Saving is a great thing to attend the age of the kids. They can make sure they are familiar with conserving. Bitcoin could be a great instance on their behalf whenever you will tell them about saving particularly when they will use electronic currency to save. But if you are going to give an example of bitcoin, then it is best to give a very first explanation of how bitcoin prices can change.

This is very dangerous because bitcoin bases are an investment, many bitcoin businesses are not on the internet uncontrollable and will allow children to spend their savings in gambling or hyip, this is highly discouraged and better only taught by children aged 17+.
You are right the kids show good interest in the gambling and the saving of the money it is the new age and a lot of the people are buying and the saving the bitcoin so I hope the future of the bitcoin will be very bright a lot of the people are now dependent on the bitcoin for the income and the profit, if we will teach the children about the bitcoin so they will have the big profit I am happy to use the bitcoin now.

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November 17, 2017, 06:49:44 PM
 #515

It will not help children save money because children do not care about money i think it will help teenagers save money because it can make them earn a lot and they can make a lot out of it.
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November 17, 2017, 09:41:53 PM
 #516

It may become the other way around.
Kids who have benn given savings and already in the right might to spend it will do it.
It is different nowadays. They almost knew everything because of the internet and of course social media.
It may be best to just let them be kids which are just playing and going to school.

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November 17, 2017, 11:20:43 PM
 #517

I dont think it could help the kids to save, but it could teach the kids to earn, but the kids wont too interested, since he cant spend the bitcoin, bitcoin is not suitable for kids, but it is good to introduce to them, so they know updated technology and different shape of money

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November 17, 2017, 11:25:42 PM
 #518

Bitcoin can somehow help kids to save, but it is not necessary for them to learn bitcpin just to save. In order for them to be familiar with saving, we should start teaching them practically and use simple things. You can introduce saving in bitcoin to teens because they will understand it more and will appreciate it easily.

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November 17, 2017, 11:27:08 PM
 #519

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?
Cryptocurrencies aren't really the best example to teach kids the benefits of saving with since there are 2 possible scenarios :
- The 1st scenario consisting of if that currency crashes and the one who is a huge spender would have profited of his coins when they had value and thus made them worth something before they felt off , while the second guy who saved didn't benefit of anything , invested so much time in it while depriving him self from buying what he wants . And this is the scenario that we don't want to happen .
- The second scenario is when the coins value increases almost constantly ( such as bitcoins ) , and the guy who saves beats the guy who spends and who is loosing the potential value that his coins could reach , and this is the best case scenario .
We know that cryptocurrencies go through lots of fluctuations and both scenarios are probable to happen , sometimes to the same coin so we'll have those poor kids confused about the whole idea and we'll fall far from the point we tried to make which is saving !
So the best thing to do will be to explain the saving ideology with fiat , in practical life scenarios which will show how a moderated spending span will be the best or when will saving be the best , irresponsible spending is always bad anyway .
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November 18, 2017, 08:52:38 AM
 #520

For me it is a good idea the younger they learn how bitcoin woks the more profit they can get. But always remember there are only kids and its hard for them to underatand it quickly so we have to educate them slowlt or step by step.
It is better to let them learn the traditional education like in the teachings in the schools rather than teaching them how bitcoin works because it will help them to focus in their studies first and since they are kids they are not prepared for this kind of technology and they need to expand their basic knowledge first and after they entered high school then that is the time for my opinion to teach them how to bitcoin works.
This will lead to the more success if btc as it will be started as school teaching to kids, and most of the parents will wish that their child must learn this module and this will make a clear mindset of children that they will adapt this field in future because in bitcoin profit is very big and no other field can give them so much ease to become rich in few days and schools must take an initiative to start it as proper subject.

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