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Author Topic: Would bitcoin help teach kids about saving?  (Read 13714 times)
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November 20, 2017, 11:42:04 AM
 #541

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 would be a great idea.  To support your move or action, I just learned to save my bitcoin when its price is high.  The time that I learned about bitcoin was the time that I was just looking for additional income.  I am just wanted to buy things I needed which I cannot anymore buy from my salary.  The only time I learned to save is when its price goes up and makes it value really high.  I realized that if I save my bitcoin then I will become rich someday when I just save them.  So I think that would be a good thing, to teach children to save by introducing bitcoin to them.

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November 20, 2017, 11:45:35 AM
 #542

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?

teach them safe and profitable savings by introducing bitcoins, teaching them how to store little by little so they can understand and be aware of market conditions.

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November 20, 2017, 12:07:12 PM
 #543

 I don't recommend bitcoin to teach children. Firstly it is very difficult. Most of the members of the bitcoin community do not understand the bitcoin economy.if they are really interested in it, will create an opportunity to become rich in the future. Now many children themselves learn about bitcoin thanks to the Internet.
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November 20, 2017, 12:15:11 PM
 #544

Bitcoin would absolutely teach kids about saving because that is what bitcoin is currently in, a store of value phase. Kids definitely need to understand why BTC is sound money and what makes it such a good place to store value and wealth for long periods of time. You never learned this with gold and FIAT because those were centralized and they kept people quiet about what was really going on, but the net changed that.
If we talk about savings and bitcoin, then bitcoin can for sure teach most of us about saving. In case of kids, I don’t think so that this will work. It is because of the reason that it is not at all possible for the kids to learn well about bitcoin ad that to in such an early ages of their life. You can tell then about saving of money in some other ways but you can’t rely on bitcoin only.


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November 20, 2017, 12:34:15 PM
 #545

Bitcoin would absolutely teach kids about saving because that is what bitcoin is currently in, a store of value phase. Kids definitely need to understand why BTC is sound money and what makes it such a good place to store value and wealth for long periods of time. You never learned this with gold and FIAT because those were centralized and they kept people quiet about what was really going on, but the net changed that.
If we talk about savings and bitcoin, then bitcoin can for sure teach most of us about saving. In case of kids, I don’t think so that this will work. It is because of the reason that it is not at all possible for the kids to learn well about bitcoin ad that to in such an early ages of their life. You can tell then about saving of money in some other ways but you can’t rely on bitcoin only.
It is not about the money or type of currency that will be used in order to make savings because if the person really wants to save money then he will do it. Bitcoin is a good way to save money also because of its fast growth in price but i think that this is not the time for the kids to learn this because they are too young and innocent to deal with this cryptocurrency.

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November 20, 2017, 02:36:00 PM
 #546

Bitcoin would absolutely teach kids about saving because that is what bitcoin is currently in, a store of value phase. Kids definitely need to understand why BTC is sound money and what makes it such a good place to store value and wealth for long periods of time. You never learned this with gold and FIAT because those were centralized and they kept people quiet about what was really going on, but the net changed that.
Yes, it can play a great role in teaching kids that how to save their money. For kids as compared to paper money using bitcoin is a bit harder and it would fell them about their excessive usage of money. Moreover it also greatly depends on the nature of a kid, if he/she is having feelings then it could teach them how to save their money but if he/she is feeling less then it can't help them.



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November 21, 2017, 12:35:32 AM
 #547

It's nice to teach kids about saving money for their future but I think kids are not yet ready to introduce them about Bitcoin because they are too young to understand what Bitcoin is all about maybe we can teach them about saving using Bitcoin when they are old enough to understand the advantages of saving using btc

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November 21, 2017, 12:49:26 AM
 #548

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 might be a great idea to teach your kids saving with altcoin. Because the sooner we start saving we will get the benefits later to be used if there is an urgent situation. As we know cryptocurrency is being popular right now with giving the kids altcoin to saving they also will able to know about the world of crypto.

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November 21, 2017, 02:19:41 AM
 #549

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 not only in saving they can learn to on how to do trading,  yes I believe that through bitcoin they can learn how to earn and save money but it's up to them if they want to know or learn to save..  Bit for me they should learn to save money
For kids to understand the working of bitcoin or any other cryptocurrency is difficult, so first we need to teach the basics of economics like what is investment, saving, profit and all to the kids once they understand that based on that we can teach savings by using bitcoin.
I agree! We should teach kids first the basic of investing and saving using paper money before investing in bitcoin because bitcoin different kind of invest and form of money. It may confuse them so its better if we teach them one step at a time.

That is true, like what I want to teach my kids is something like letting them have allowances and if they have excess they can give it to me and I would tell them that it can earn interest if they place the money with me. So they know that investing is a good thing and that learning it early on will prove to be something that can benefit them in the long run. Parenting is indeed hard, but as parents it's something as our duty.

Wow that's a good strategy brother. I'll try that when my kids grow up.
You know kids nowadays don't know how to value our money, they'll just ask whenever they want and spend it without knowing their parents work hard to earn it. So if we can teach our kids how to save, even not in bitcoin form ( but they'll surely get attracted in the price of bitcoin ) it's a big relief to their parents as they know even their kids grew up they know how to value and spend money wisely.


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November 21, 2017, 02:40:56 AM
 #550

I think no, but bitcoin will teach the about investment, only save money will not give you much benefit but by investing you could have the better future.

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November 21, 2017, 03:04:08 AM
 #551

it is actually depending on the child if he/she is planning to be rich in the near future but teaching kids to save money is a good idea and in the future this kids will really help the country to improve and make the world a better place.

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November 21, 2017, 03:21:24 AM
 #552

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 we should teach children about savings through bitcoin.But we know that they might not already understand the meaning of cryptocurrency but teaching them  little step by step maybe they will know the meaning of it.Teaching savings  is good idea for the near future of children.
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November 21, 2017, 05:21:09 AM
 #553

Bitcoin may not teach about savings directly but perhaps the use of it will. For me, it has taught me how to save because for the first time in my life, I've been earning through bitcoin. It has made my become conscious of my finances and expenses. It has taught me how to save because I am now mindful of the financial decisions that I make. Perhaps in a way, once kids learn about finances through bitcoin, it may teach them a thing or two about saving.
I think it can teach kids how to save money for themselves because their main problem is to get control on their money, which is very hard for them to control on the paper money but if we look to the digital currency than for a kid, getting control on bitcoin is much easier than that of getting control on paper money. Not only kids but bitcoin also can teach adults the best ways of saving money which is a positive sign.
Everyone has his own opinion but I have some different opinion. In my opinion, bitcoin is not an easy thing to be used and that too by the kids.

In fact, there is no way that kinds can use this bitcoin. Bitcoin can no doubt teach this concept of saving money but only to the ones who are using it and are investing in it. We need to teach our kids about this habit of saving money by ourselves.
There is no way that we can deny this fact that kids are having very sharp minds but the fact is it is not at all possible for the kids to understand this concept of bitcoin and that too in such an early age of life. This might be possible that you can use other techniques for developing this habit of saving money amongst the kids but this one cannot really help the kids in learning anything good.



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November 21, 2017, 06:51:41 AM
 #554

i think so its better to teach kid  saving bitcoin because incase of emergency they can use it
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November 21, 2017, 07:04:28 AM
 #555

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 still depends upon the attitude of the user. Saving is learned through mistakes.

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November 21, 2017, 07:26:08 AM
 #556

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 might be a great idea to teach your kids saving with altcoin. Because the sooner we start saving we will get the benefits later to be used if there is an urgent situation. As we know cryptocurrency is being popular right now with giving the kids altcoin to saving they also will able to know about the world of crypto.

Yes, it’s a great idea but I think after they learned about cryptocurrencies they should learn also how to earn bitcoin in their own ways so that they will learned also how to manage their money well. We also know that these kids have not even familiar to the bitcoin so we should be patient on teaching them maybe showing evidence or step by step process so that it’s easy for them to understand about bitcoin. We should open their minds to these technologies so that it’s easy for them to catch up what will be the future of currency.

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November 21, 2017, 07:28:53 AM
 #557

I dont think so. Spending bitcoin is no different to spending fiat. In fact it is much easier to spend bitcoin because of the online functionality. If you give bitcoin to a technology savy kid, and if that kid knows where to spend it, then they will for sure spend it same as spending fiat.
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November 21, 2017, 07:51:33 AM
 #558

I think yes, Bitcoin can teach kids about saving as long those kids doent learn to gamble then all earning or all accumulated bitcoins of the kid are just for saving or investment. Also if the kid aims to have a good future then they will try their best to save all their earnings. but this is only my opinion and if i will have a chance to teach a kid this is what i am going to teach them.

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November 21, 2017, 08:26:48 AM
 #559

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?
no it induldged them into btc casino.
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November 21, 2017, 11:08:53 AM
 #560

of course bitcoin will teach kids how to save and HODL for long term benefits and it will definitely teach them patience which is a very good thing when it come to bitcoins. It grow with time in value which will benefit the kid with whatever needs he desire to fulfill.
Yes, it can help kids to save money for themselves  because for kids wasting paper money is very easy but for them wasting bitcoin is not easy as that of paper money. Bitcoin can be the best if used in daily life routine. Not only kids but also teens, adults and people of every age will try to save bitcoin for themselves. 

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