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Author Topic: Would bitcoin help teach kids about saving?  (Read 12813 times)
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July 11, 2017, 09:07:45 AM
 #61

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 is a good way to start mentoring the kids while they’re still young. Kids now a days are well knowledgeable about using internet and computers so it wont be hard for us to teach them. And about teaching the kids on saving bitcoins it is a good idea. Also we must teach them how to earn bitcoin. While earning they must also learn how to save. Give them all the great possibilities that they will have if they do earn and save bitcoin.

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July 11, 2017, 09:15:45 AM
 #62

When I see your proposition, I am feeling like un front of people wanting to put everything on the blockchain for no particular reason. Bitcoin has nothing different with fiat money in term of saving Huh.
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July 11, 2017, 10:12:32 AM
 #63

I feel like Bitcoin might be too complicated for kids. Also, it has nothing to do with savings. You can teach the mentality of saving just as well with fiat currency. There is absolutely no reason to involve Bitcoin if that's your goal.
On the other hand introducing Bitcoin might be a good idea to teach kids about technology in general and how it can chaneg the world.
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July 11, 2017, 12:25:48 PM
 #64

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 is a great idea to teach your cousins how to saved money. Learning how to save money at a young age will be helpful for them when they grow up, most of the millennials today only know how to spend their money carelessly. In fact, some of their money comes from their parents who are working very hard just to earn that money and for them to spend it for luxuries only shows how kids today do not know the value of it.

For me, bitcoin could help to teach kids how to save money because most kids can easily adapt to the fast and continuous growth of technology. They can learn and understand how to use a gadget with just watching some grown-ups do it. But I think, that it will not be easy for them to understand what bitcoin is. Kids could get exposed to gambling without you knowing and it could be a greater problem if they would learn gambling at a young age.

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July 11, 2017, 12:37:45 PM
 #65

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 is a great idea to teach your cousins how to saved money. Learning how to save money at a young age will be helpful for them when they grow up, most of the millennials today only know how to spend their money carelessly. In fact, some of their money comes from their parents who are working very hard just to earn that money and for them to spend it for luxuries only shows how kids today do not know the value of it.

For me, bitcoin could help to teach kids how to save money because most kids can easily adapt to the fast and continuous growth of technology. They can learn and understand how to use a gadget with just watching some grown-ups do it. But I think, that it will not be easy for them to understand what bitcoin is. Kids could get exposed to gambling without you knowing and it could be a greater problem if they would learn gambling at a young age.



I agree with you, there are negative aspects in using bitcoin children. But you always need to control the children. I think that we should teach children to earn money from an early age. But do not give too much attention to this. Everything should be in moderation.

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July 11, 2017, 01:22:56 PM
 #66

Bitcoin can help teach kids about saving only when they have bitcoins. It's really hard to spend your bitcoins because you know for a fact that there are better opportunities in the future. You start keeping yourself disciplined because once you used up all your fiat, you would have to cash out your bitcoins again. But this discipline would only apply to bitcoins. Cash isn't acting the same way. Cash isn't going up in the future. There are no better time to use your cash because your cash is inflating constantly.

I really think that we should stop trying to use bitcoin to solve our problems. You want to teach your kid to learn how to save money, then teach him how to save money. Bitcoin doesn't have to be involved.

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July 11, 2017, 01:45:33 PM
 #67

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?
Not only mining is the only way to get more bitcoins,there are also other options like trading,etc.Saving some bitcoins infront of kids in a wallet and showing them that their bitcoin has grown in value after some days would be a great and an easy way to make kids realize the importance of saving.Whatever habits we teach our kids in early stages would last with them through out their life time.
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July 11, 2017, 09:12:15 PM
 #68

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?
Maybe bitcoin will help them in a way of saving if they will first know what bitcoin really is. For them to be able to understand bitcoin, you must first orient them of how bitcoin works and the way of saving using bitcoin. State the benefits they could gain on saving bitcoin based on your own experience to make it a factual one so that they can have a basis and have a role model in saving using bitcoin. In such way, bitcoin can really be able to teach them how to save money.

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July 11, 2017, 09:22:41 PM
 #69

well that is hard kids nowadays are thinking about how they will spend their money they always find ways on how they can use it to be honest its really hard to kids to have a money they will spend it for sure nor if they had some thing to be dream of like they motivate to save for the items they wanted then bitcoin can be help so they can find another way to earn money not depending on their nother tho.

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July 11, 2017, 09:56:24 PM
 #70

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?

Wait, are you sure the other one only spends once a year? It's unbelievable but if that's a fact that's a good attitude from your cousin. Bitcoin will be a good currency for that one to save since he doesn't spends that much. For sure he is going to save a lot in the future.

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July 11, 2017, 10:08:59 PM
 #71

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 probably would teach them how to save and value their possession (money). If they will see that the Bitcoin they have grows in value over time they will probably just hold onto it and will think twice or thrice if they will spend it or not. Give it a try and see for yourself. The end result might not be what you wanted to but it is best you tried to teach them. If by giving them Bitcoin did not work out then that's it.

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July 12, 2017, 02:57:24 AM
 #72

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 will depend on their age, but also it seems the one that has the habit of saving is doing fine already so he does not need instruction but you could introduce bitcoin to him,, may be he will begin to save bitcoin instead and become  a bitcoin user as well.

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July 12, 2017, 05:44:31 AM
 #73

hahaha no that's just weird idea, i'm not really good at teaching person but c'mon you can teach them slowly with words and real action, if you show them bitcoin then you will crate an ambitious hundred bitcoin hunter like my friends  Grin LOL
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July 12, 2017, 05:54:24 AM
 #74

Various things that can be done later will make children able to independently and independently from the beginning.Some activities will be great because they are small, including managing the finances and introducing them to them.

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July 12, 2017, 03:24:08 PM
 #75

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 can't say because bitcoin is very complicated especially for kids but bitcoin is really a good way for to teach yourself how to save but the problem is, a child should know first everything about bitcoin before he/she use it, For to make things clear. Saving is really important especially for a child because they need to learn to handle there own money.

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July 12, 2017, 03:41:55 PM
 #76

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 have answered this question on a different post and the answer is yes. Before you teach a kid about bitcoin (which is obviously impossible), you must first teach them the value of earning money. They must first know on how to regulate and use their money wisely before they start investing. One way of teaching kids is by telling them to at least do SIMPLE household chores or by cleaning their toys and then buy them what they want. This gives them the impression that before you have something, you need to work hard for it. Again let me reiterate, the chores doesn't need to be complicated and hard, it must be simple yet meaningful. In this way, this helps the kids even more in saving and understanding the value of money.

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July 12, 2017, 04:19:09 PM
 #77

Actually we can teach children to save money early, because this knowledge will be very useful for their when they grown adult. My suggestion is that we have to give the child an understanding of needs, wants and expectations. Because if the children has been taught these three things, they will become more wise and understand how and for what their money should be used. And this also applies to how they save their bitcoins.
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July 13, 2017, 01:55:46 AM
 #78

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?
Your other cousin is the greatest spender that i know because some kids they have many things that they want to buy unlike your other cousin he buy spend his money once a year and that's a good attitude. Maybe bitcoin could teach him how to save even more, unlike your other cousin maybe he doesn't have a chance to learn how to save in bitcoin he stillnneed to learn to save his own money.

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July 13, 2017, 02:59:19 AM
 #79

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 them to save. I have a sister, she knows bitcoin through a friend, she starts to earn money from bitcoin. Since then she knows how to save money spending money is quite reasonable and more important she knows how to manage the money it earned

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July 13, 2017, 03:00:13 AM
 #80

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 is a good way to start mentoring the kids while they’re still young. Kids now a days are well knowledgeable about using internet and computers so it wont be hard for us to teach them. And about teaching the kids on saving bitcoins it is a good idea. Also we must teach them how to earn bitcoin. While earning they must also learn how to save. Give them all the great possibilities that they will have if they do earn and save bitcoin.

I think learning how to save is okay with me to teach kids but teaching them  what is bitcoin I think its not a good idea for this moment. I mean they are kids, kids should play outside and experience what do kids does like having some physical games like we used to play. All I want to say is we can teach them how to save in other ways but not bitcoin. Maybe there will be a right time teaching them about this crypto thing.

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