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Author Topic: Would bitcoin help teach kids about saving?  (Read 13907 times)
ASICHEAD
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March 03, 2018, 10:39:42 PM
 #841

I think that children need to be taught, but bitcoin is unlikely to help this
Although Bitcoin does not help your child anything, but the Bitcoin technology and the real reason to created Bitcoin of Sakamoto will be helpful for your child. But remember, just when your child enough age to understand the concept about economy, you can teach them about the nature of Bitcoin and blockchain technology. If not, it really does not help anything for your child

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EnricoGomez
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March 04, 2018, 11:05:30 AM
 #842

No. Because as they earn money in bitcoin they might spend it on what they want because of the high value of bitcoin. But it depends on how their parents raise the children if they teached the kid to save up money for the future.
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March 04, 2018, 11:19:51 AM
 #843

when they are early in the world of bitcoin it will help them a lot but let should understand them all and let them see by your experience in btc how they can earn double with their savings so they amazed on it and try to invest rather than to save so definitely teach them if they want.
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March 04, 2018, 11:29:26 AM
 #844

No. Because as they earn money in bitcoin they might spend it on what they want because of the high value of bitcoin. But it depends on how their parents raise the children if they teached the kid to save up money for the future.

Yeah, I do agree with you. Bitcoin can't teach kids to save money, but rather it can make those kids spend more on useless things because they knew how high the value of bitcoin is. It is our responsibility as parents to teach our kids to save money and let's not rely on bitcoin. And as for me, I will not introduce bitcoin to my son at a very young age because bitcoin is too complicated for kids to understand.
Konthol Ngaceng
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March 04, 2018, 12:04:41 PM
 #845

It must be admitted that the presence of bitcoin makes us practice for saving and investing, it is never found in financial products that exist in banks, with saving in bitcoin then automatically we invest and this is a good thing for children.
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March 04, 2018, 12:28:56 PM
 #846

I think yes if parents in courage their children and tell to them that bitcoin is very nice in saving money and in the future bitcoin will be having a high rate I am sure kids will be interested on that .
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March 04, 2018, 12:30:41 PM
 #847

Yes, its approach is very effective
I myself was unable to save much money a few years back. Then I studied crypto and it turned out that Hold/Patience is the key to big save
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March 04, 2018, 12:32:43 PM
 #848

I think kids should start off with learning about the traditional investments e.g. stocks and bonds and money market
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March 04, 2018, 02:53:15 PM
 #849

Young people yes but kids NO. I don't think it is a good way to teach kids about saving at their early age. Let them enjoy the moments of being a child, because it cannot be repeated. It is only a one chance, so that they have to treasure every bits of their life as a child. If they gone 15 or 16, well that is the best time to teach our kids about saving.

Completely agree to this. I look at the kids today and most of them are already spending their time on computer games and smartphones. They do not have the time to play outside with their friends. Now teaching them about bitcoins and money is kind of an extra burden. Childhood is not meant for learning these things. Also, I strongly believe that finance is something that a person learns by interest. This is why some of your friends will never show any interest in bitcoins even if you keep forcing them to do so.

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March 08, 2018, 07:53:58 PM
 #850

It is possible to teach kids  to save money but i can say that once a person earn money  or  hold money theres a possibility that he/she can use it to buy it online.Its hard for them to save because maybe they have a thinking that they will earn again on the next time.Saving money needs discipline.
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March 09, 2018, 04:44:16 PM
 #851

No. Because as they earn money in bitcoin they might spend it on what they want because of the high value of bitcoin. But it depends on how their parents raise the children if they teached the kid to save up money for the future.

Yeah, I do agree with you. Bitcoin can't teach kids to save money, but rather it can make those kids spend more on useless things because they knew how high the value of bitcoin is. It is our responsibility as parents to teach our kids to save money and let's not rely on bitcoin. And as for me, I will not introduce bitcoin to my son at a very young age because bitcoin is too complicated for kids to understand.

With Bitcoin, the children can become the member of under ground world sooner than normal. Because the most activity of children is using money to get money in games. But how to have Bitcoin? If they do not know Bitcointalk, I am sure those children will find from UG world.
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March 10, 2018, 09:01:31 PM
 #852

It must be admitted that the presence of bitcoin makes us practice for saving and investing, it is never found in financial products that exist in banks, with saving in bitcoin then automatically we invest and this is a good thing for children.

Really? Investing a bunch of money in Bitcoin, which could be up or down 25% in a single day easily, teaches people about saving money better than a savings account at a bank, where he money they put in is substantially likely to remain at a stable value for years? That's ridiculous! Bitcoin doesn't teach people about saving; Bitcoin teaches people about gambling. The act of saving is delaying consumption for future benefit. The act of buyin Bitcoin is guessing that the money you used might be worth more in the future, but has an equal chance of being worth far less. That shouldn't be confused with saving at all.
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March 12, 2018, 09:01:24 AM
 #853

No because kids spend all of there income because they realize that he/she can use bitcoin to make an easy money... So that bitcoin cannot  teach the kids to save there income...
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March 12, 2018, 09:05:55 AM
 #854

As a father, I want to teach my children what is money and how to use it wisely. My father taught me to be responsible, to save money, to avoid debt as much as possible, and his education was good for me. Now I'd like to teach my children the truth, but in a mainstream financial advisers are pointing in opposite directions, encourage reckless lending and it does have some difficult times to seek government assistance. Let's move on to bitcoin. Teach our children about the currency of knowledge can provide valuable lessons about money management, this will make them as adults can successfully manage their own money to help them avoid the current global economic problem in us.
nadbucs
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March 12, 2018, 09:26:03 AM
 #855

There is nothing wrong with teaching children to save in bitcoin. It is much reasonable compared on the other stuffs where they spend their money. In bitcoin we can teach them the principle of saving and using it on the right time and the implications when you used up all your saving without hesitation. This will serve as a medium for them how to control spending for the right thing and spend only if its necessary.
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March 12, 2018, 09:57:12 AM
 #856

How age is your 2 cousins?   Because we know as of now they don't know how to save money.  But if it's teenager they have possibility to convince them to save their money because they are older and have experience because their age is going old.

They have kids or teenager can earn a lot of profit because they invested bitcoin with the young age so they harvest good profit.
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March 12, 2018, 10:17:15 AM
 #857

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 it can teach kids to save, like me, I don't really do save that much, I spend all my money when the time it touches my hands, but when I received my own bitcoin and finds out that it can increase it value when you wait for the conversion to rise up, I hold it as long as I can to reach my target value. It teaches me to wait and save.
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March 12, 2018, 01:12:35 PM
 #858

kids is a kid's,just they know is to play...i think it's not time to teach how to save...there's a time for them to teach how to saving....don't think bitcoin would be the best way to teach kids about saving, because there's not a lot of opportunity for a kid to spend the bitcoin they've acquired...when you can't spend it you must save it!

t4syarosmala
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March 12, 2018, 02:26:31 PM
 #859

Saving is setting aside wealth for the future not for today's waste.
You know BTC is addictive. So if you direct your cousin in BTC, then this is no longer about saving money. It will lead to trading. Even the benefits that can be generated from storing BTC this briefly will make your cousin increasingly wasteful of money.
BTC is not the best solution to teach how to save money.
El_rancho
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March 12, 2018, 05:20:38 PM
 #860

Maybe at some point it can help kids understand a thing or two about saving and earning. It may work for some and not for others.
But the idea and thought and even the effort of teaching them is good enough, it's a process. Learning as some would say is a
continuous process in life. The best thing to teach your kids more importantly is the value of money, maybe from there you can
branch out about saving with bitcoins as an angle. It's never too dull or late to try whats beneficial for your child, values and lessons
that would help for a better upbringing is an admirable parental labor.
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