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Author Topic: Would bitcoin help teach kids about saving?  (Read 13856 times)
Eureka_07
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April 10, 2018, 04:43:30 PM
 #921

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 bitcoin will be helpful in terms of teaching children how to save money. I believe that there is this strategy in order for you to save money and bitcoin will be the one who will teach the children on proper handling the money, on how you are going to make the money doubled if possible, and how to save money for the things that you need and for the things that you want.

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Umar001
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April 12, 2018, 08:18:00 AM
 #922

I don't thinks so, bitcoin teach kids about saving, come to think of it's not good enough to expose kids into financial ream like btc, btc give you financial freedom freedom, and if kids have such financial freedom, they may abuse it. So I totally disagree with bitcoin teach kids about saving.
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April 12, 2018, 09:26:25 AM
 #923

If you can explaine to them what is the huge profit if they save their money as invest with bitcoin I think it's gonna be good idea. But I've been kids not long time ago and I know what is feeling when I have money I wanna buy something I want, maybe to show my friend. So,  as long as those thing worth it I never mind.

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April 12, 2018, 05:16:28 PM
 #924

In my opinion it will not because if you did not teach your children proper financial education then they would just spend the BTCs that they earn. Financial education should start with the parents so you would need learn to discipline your self first before you teach it to them.
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April 12, 2018, 05:26:44 PM
Last edit: April 12, 2018, 05:45:19 PM by Epimetheus
 #925

If you can explaine to them what is the huge profit if they save their money as invest with bitcoin I think it's gonna be good idea. But I've been kids not long time ago and I know what is feeling when I have money I wanna buy something I want, maybe to show my friend. So,  as long as those thing worth it I never mind.
I do not think that bitcoin can teach kids about saving.Bitcoin is a very complex process and it will be difficult for kids to understand bitcoin.Their minds are not so developed to understand this process easily.Kids should play outdoors and focus on their studies rather spending time on the internet.Parents should do bitcoin and save for their kids for the future.Though bitcoin is an easy way to earn money but still it is risky and very volatile.
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April 12, 2018, 06:58:25 PM
 #926

IMO it wouldnt teach kids about saving. It might to the opposite. In December a lot of people lost sense for the true value of money and got greedy and lost a lot of money in the last few months.
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April 12, 2018, 07:06:43 PM
 #927

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 dont th,nk a kid should think about saving money or investments. there are many more things that they should learn bbefore thinking about money issues. i prefer my kid to spend his money to buy toys or other things instead of thinkiing about future in that age.

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April 12, 2018, 07:52:35 PM
 #928

I am not sure it's the best way to show kids how to save money. When they are young you can do something more friendly and soft insteed of this.

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April 14, 2018, 06:07:30 PM
 #929

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?


As adults, even if we are parents or not, we should teach kids about saving at their young age for it is a way for them to earn for their future with an assurance and security. I think it is also best to have bitcoin as a way for them to earn but it would be a complex thing for them to understand for now. There should still be a further assistance.

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April 14, 2018, 06:24:03 PM
 #930

Seriously, if I had kids, I'd be teaching them about crypto using Dogecoin.

Adorable mascot, quicker transactions, nearly empty blocks mined, nearly empty mempool, optional fees, and cheap enough you can own hundreds of coins for a dollar.

It's the same technology as BTC, but less of a barrier to entry to learn about.
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April 14, 2018, 06:26:56 PM
 #931

In my experience, yes. I have 2 younger brother, who are the one's introduce me to bounty hunting, have a lot of money in bitcoin than I am. We dont tell our parents regarding this. So they are saving a lot of money because our parents give them allowance. Even though they have allowances, they know that saving the money they are earning is very important. They both have their own bank lready which is fruit of their labor from bitcoin. Some it is still in trading. Even though they are still studying, they already know the value of money. They want to save a lot of money so they can build a business for our parents to stop working and just focus with a business that we three will put up.
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April 14, 2018, 07:00:31 PM
 #932

Acutally it can help kids to learn about saving but we have many others much more firendly ways of teaching kids. They want to play and you can gave them different economy games.

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April 15, 2018, 01:24:16 PM
 #933

Acutally it can help kids to learn about saving but we have many others much more firendly ways of teaching kids. They want to play and you can gave them different economy games.
I do not think they will understand bitcoin and then can think about saving because bitcoin is probably too complicated compared to the knowledge that they own, with them, the technology only to serve the entertainment, instead of learning about other matters, their age is still too small. Therefore, ideas that use other methods to teach them about saving will be more reasonable, children need something that is simple and easy to understand, we should not impose bitcoin on the minds of children, not good for their future


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April 15, 2018, 02:05:59 PM
 #934

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 really don't see how Bitcoin would help teach kids about Bitcoin. To be honest, I think it would have the opposite affect. Kids these days are playing games on their computers and on their phones, you don't see them going out too often. Some of them buy games from a store but a lot buy games online (Or in-game items). I think Bitcoin would just make them buy more games if they started to earn it.

To be honest, I think that the only way to teach a kid about saving is just by changing their mindset on money. A lot of them just think that they can buy whatever they want because their parents have money, but that really isn't the case.

Well I think bitcoin would be a good way to teach them how to save,
And also tell them about how it works and  how they could earn if they save it .
How so? You didn't really explain much. Saying that it will is one thing, proving it is another.
I really agree with you, is addicted to the game is very difficult to change it, sometimes the kids always steal time to play the game. I often give directions about bitcoin, but it is very difficult to change the child's pleasure.
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April 15, 2018, 02:37:47 PM
 #935

Bitcoin is really hard to understand for the first time and bitcoin is not user friendly it is too complicated for kids so for me that is not advisable since the bitcoin is just like that and kids can lose their money by just one wrong step with bitcoin. To be honest, I think it would have the opposite affect. Kids these days are playing games on their computers and on their phones, you don't see them going out too often. Some of them buy games from a store but a lot buy games online (Or in-game items). I think Bitcoin would just make them buy more games if they started to earn it.
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April 15, 2018, 02:44:25 PM
 #936

I think the presence of bitcoin deserve to be introduced to the kids, by introducing bitcoin then we have trained them 2 things namely saving and investing so that makes them become more intelligent and wise in managing finances.
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April 15, 2018, 03:05:33 PM
 #937

If you buy a BTC for your child now and save it, BTC will be of great value when you are an adult!

This is a long-term investment, you don't need to care about the value of BTC all the time!
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April 15, 2018, 04:51:05 PM
 #938

Bitcoin is really hard to understand for the first time and bitcoin is not user friendly it is too complicated for kids so for me that is not advisable since the bitcoin is just like that and kids can lose their money by just one wrong step with bitcoin. To be honest, I think it would have the opposite affect. Kids these days are playing games on their computers and on their phones, you don't see them going out too often. Some of them buy games from a store but a lot buy games online (Or in-game items). I think Bitcoin would just make them buy more games if they started to earn it.

The fact, I just spent 3 hours to understood the nature of Bitcoin. In my country, a blogger translated some articles on global for the Bitcoin community, of course, I think the knowledge I learned are from the knowledge of Satoshi Nakamoto want to explain for the world. Bitcoin and blockchain is an era, it will change the world to become a fair world, no onwer here, all people have same role on the world.


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April 15, 2018, 05:26:38 PM
 #939

Actually since technology is on top and 2 years olds can ridiculously handle a smartphone with the capability to play games and control the phone. I think 14 or 15 year old should already know about saving money, and then educate them the right way in knowing bitcoin it is a clever idea and I am planning to do this to my kids in the future.
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April 15, 2018, 05:53:37 PM
 #940

In future it will be one of the most use currency in the world so kids shold know nowadays how to use it and what bitcoin is exactly so just educate them as fast as you can.
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