Teaching my nephew about Bitcoin

[Dr.Bitcoin_Strange]

I am free from work this weekend, so I decided to make it useful. At first, I never knew what to do today to make my day fun, so I decided to do something I considered meaningful for myself, but I also wanted to hear the opinions of this community, which is why I created this thread.

There's a meet-up program carried out in my nephew's school, and as the theme of the program implies, "Catch them young." The program is carried out once every year. The purpose of the program is to identify the in-born talents of students, both children and teenagers, usually aged from 9 to 19.

From the idea of that program, I came up with the idea to teach my nephew about Bitcoin this weekend. He is just 11 years old. Last year, in the "catch them young" program, he was identified as a kid with the zest and curiosity for research. He was given piles of books to read and feed his curiosity about science and some mechanical activities taking place around his environment. 

He spends his free time reading and watching lots of science videos on YouTube. 

If I had known about Bitcoin in 2010 or 2012, I may have had more than 1 or 2 bitcoins by now, but no regrets; gradually, I will accumulate more bitcoin over time. 

Giving my nephew the privilege of knowing about Bitcoin and blockchain technology is a really interesting thing I find myself doing today. He's still young, and even if he's not going to invest now, having knowledge of blockchain technology and Bitcoin is not as bad as I thought. Often times, children grow up knowing some important things they learned when they were young. If that knowledge was really good for them, they broadened it as they grew. 

I decided to teach him.

1. What blockchain technology is and how it works

2: define bitcoin and the inventor.

3. Decentralization is important to Bitcoin investment. 

4. The disadvantage of investing wrongly without full knowledge

I just gave him some primary knowledge, just like a class he would expect to have had in school. I will love to take him through the class some more times. 







Guys, I hope I was not wrong to think this knowledge was good for his age. I hope to hear your opinions. 

Dr.Bitcoin_strange 💌

[lovesmayfamilis]

Although this is just my personal opinion, I would feel sorry for your nephew. Give him a ball and let him go play football with his friends. Knowledge about bitcoin does not take much time; you can explain everything to him when he gets older. But God, I see a blackboard and a teacher, and someone standing with a movie camera. Made me laugh. It is clear why these photos were taken. For an eleven-year-old child, it also takes practice to captivate him. Does the child have pocket money? My son usually spends them on his games, sweets, and other needs that are interesting to him at his age. Knowing from experience, children rarely agree to save for an extended period of time. But your nephew will eventually need to experience everything firsthand. Will he be able to buy himself a certain amount of bitcoins in order to fully feel like a young investor?

[mk4]

I really can't tell from the picture, but I hope your nephew isn't like too young for you to introduce Bitcoin. Personally, I'd say a minimum of 15-16 years old. Any younger than that, they would probably have a hard time understanding as they probably don't even have a slight idea on how traditional currencies work.

[Gayong88]

4. The disadvantage of investing wrongly without full knowledge

With any investment, it's important to understand how things work. For cryptocurrencies, it is very important and even more complex than for other investments, because there are many things that can affect its value.

What you are doing is very interesting. Teaching them about the basics of investing can give them a more thorough knowledge of what it takes to get started. It will be interesting to see how Bitcoin changes over time. eventually they will see it applied to everyday life and become a way to pay for everyday items, which will make it important to follow.

[Iroh]

I think that there is an increase in threads about teaching students, pastors and now a nephew about bitcoin. I’m not against trying to enlighten folks about bitcoin.
I do not want to doubt the OP intentions of teaching his nephew about bitcoin, yet I’m inclined to think accolades is what’s desired here.

[taufik123]

This is actually an excellent idea for educating your nephew. But there is something wrong in the learning method used. Your nephew will be bored with how you teach and explain what bitcoin is and its technology.
Even I myself will get bored seeing a lot of foreign texts that I don't know about.

If you changed the method of how to teach 11-year-olds maybe it would be better. There must be a little change so that he is interested and learning about bitcoin and blockchain technology will be captured and digested properly.

Maybe it could be with some animated videos and not just text.

[breaker18]

For an 11 year old to be interested in it, you must show the utility. You must go hands on, show him how to operate a wallet and send to different adresses. Show him how to buy things online, for example

I learned bitcoin at Age 14 , To buy stuff online without a credit card. The initial interest in bitcoin came from the use to buy things online. The facination about the new monetrary standard and sound money came later.

 If someone had taught me bitcoin then, but only talked about how it could be the 'new monetrary standard', I would have pretty much zero interest. Make sure you show how it can be used.

[Rruchi man]

Young people who have not yet known the true meaning of life can misinterpret the gesture of trying to teach them about money as you being a boring relative to them.
 

He spends his free time reading and watching lots of science videos on YouTube.

Since he already has the habit of watching YouTube videos, it means that he can actually do well if you show him some youtube videos concerning bitcoin where bitcoins and cryptocurrency are explained in the simplest form. But as much, you should also encourage your little nephew to still be engaged and not neglect his childhood activities as those activities assist in mental development as well.

You should also engage your nephew in other fun activities and games that he likes, so you don't become the relative that always wants to bore him.

[Mate2237]

It is a nice move, but the person you are teaching has no writing materials. And remember human brain is not a computer which can cognitively captured everything without writing. Then the teaching can be done without writing those plenty write ups. And the way I see the learner he is not ready or serious about what you are doing. No table, note book, and even pen is not found in front of the learn. Is it pre- arrange lesson?

Only one person doesn't need all these mostly the white board and marker. If he is ready to learn, simple guideline and instructions through a mobile phone is okay. Your effort good but in a wrong approach, in the sense that the learner is reluctant.

[Slow death]

I think that there is an increase in threads about teaching students, pastors and now a nephew about bitcoin. I’m not against trying to enlighten folks about bitcoin.

man the pastor's story made me laugh for days, honestly I was imagining so many funny things that just made me laugh a lot, for example: "the pastor receives 1000$ of donation in bitcoin" and he is very happy and days later the price drops a lot and the 1000$ becomes 800$ and he gets very irritated, with that the guy who made the donation when he gets to the church will look at the pastor and see the pastor with a lot of sadness. well leaving jokes aside the truth is that 11 year olds don't want to know about investments, they want to play with friends so there's no point in forcing them to know about something they won't even use anytime soon


your gesture is very good, but it would be better used if you are teaching people over 18 years old, an 11 year old child doesn't even have a bank account, they can't get much money, so talking about bitcoin to a child I think it wouldn't be a good move, let him go have fun with kids his age, he still has school stuff to study, but talking to him about money can lead him astray, bitcoin and cash, the kind of thing that increases a lot in price , that in a child's head can be a bomb. i hope you analyze this

[PrivacyG]

If you want to make a 11 year old not hate their life, the best way to teach them about Bitcoin is by explaining it in an entertaining way.  I, like most other kids, did not find school entertaining in any way so when I see a whiteboard I kind of get some PTSD from it.

Terms like 'network', 'peer to peer', 'trustless', 'reconciliation' et cetera are definitely too advanced for an 11 year old understand the Bitcoin stuff so if anything, they will struggle understanding and ultimately probably feel uncomfortable.  There are a few educational games I reckon and they may be more fun and helpful for the kid.  Also, an ELI-5 explanation seems the perfect fit for this situation.

Anyway, good job trying to teach the kid some financial stuff but try to make it fun, not a burden.

-
Regards,
PrivacyG

[Zlantann]

It is a nice move, but the person you are teaching has no writing materials. And remember human brain is not a computer which can cognitively captured everything without writing. Then the teaching can be done without writing those plenty write ups. And the way I see the learner he is not ready or serious about what you are doing. No table, note book, and even pen is not found in front of the learn. Is it pre- arrange lesson?

Only one person doesn't need all these mostly the white board and marker. If he is ready to learn, simple guideline and instructions through a mobile phone is okay. Your effort good but in a wrong approach, in the sense that the learner is reluctant.

I am always happy each time I see people make efforts to spread the good news of Bitcoin. You have done well OP.

I don't think that little boy needs a pen because an 11year old boy might not be able to take notes during lessons. At this stage, children mostly learn through play and demonstration and not through the lecture method as OP did.

You are also introducing the child to other complicated areas which I think would be above his cognitive level except if he is a gifted child. The Education head in my country complained during a recent meeting with education stakeholders that parents are forcing their children to become adults prematurely. They want their children to understand and do what adults do by force. This is negatively affecting children psychologically and emotionally.

[Davidvictorson]

Well done OP for the effort. I do not know about you but if I were your Nephew, I don't think I would learn anything largely because of the medium through which the learning is conveyed. It looks boring. For Christ sake, he is your nephew -  shows him some interesting stuff about bitcoin on your computer. Take him to YouTube and let him see some bitcoin animations. Learning should not be this boring. I suggest a post -test.

[suzanne5223]

Although this is just my personal opinion, I would feel sorry for your nephew. Give him a ball and let him go play football with his friends. Knowledge about bitcoin does not take much time; you can explain everything to him when he gets older.

You have a point because kids within the age of 11years always want their independent, also showing the habit of been strong and spending more time with friends or some hobby but we also have some kids in this age range that full of curious and always want to learn new things just like we see in the little kids that make some thousand dollars through NFT.

[348Judah]

Teaching children about bitcoin is a good idea but there must be a particular aspect and the extent to which you should teach them, bitcoin education is good for children just to make them aware of the existance of digital currency bitcoin being the first one and as a means of investment or store of value bit not for them to begin to think about investing while still young except if you're going to yake advantage of them, the only one you can do is only to your own children if you can help invest in bitcoin for them and teach them when they grew older.

[Rockstarguy]

From what I can see in one of the image that your nephew is in, I think he looks too young to understand bitcoin. At this stage what he needs more is fractions in mathematics,  children understand and have more interest for mathematics when they are young. The boy I'm seeing here I don't think he needs bitcoin at this age. I'm not sure if he knows the value of his tradition currency,  someone who does not know anything about fiat currency,  bitcoin won't  be anything of value.

[roslinpl]

Many people are old in this forum will had started their carrier from 2013-15.After the huge rise after the 2017,huge people get into the forum.The forum give the economy stability to the users by giving them a weekly or monthly payment.Since you teaching your cousin with the age of 9-19.He will be the future generation will added huge people to the forum.They will make huge investment to the crypto currency.

[Zaguru12]

From what I can see in one of the image that your nephew is in, I think he looks too young to understand bitcoin. At this stage what he needs more is fractions in mathematics,  children understand and have more interest for mathematics when they are young. The boy I'm seeing here I don't think he needs bitcoin at this age. I'm not sure if he knows the value of his tradition currency,  someone who does not know anything about fiat currency,  bitcoin won't  be anything of value.

Yeah I actually don't buy the idea of children(below 16 years old) been thought how to invest so early. Rather they should be brought into or tutored about cryptography, that’s if its someone thats good and love numbers. A little grooming will give them life in programming. I feel this will actually lead them to cryptocurrency from cryptography.

Because you can't learn cryptocurrency without investing in it and at tender age they don't have the money to invest in it.

[serjent05]

Too much information will lead to confusion, at the end if you push too much knowledge in one go, your nephew will remember nothing.  You should have told it slowly and if possible in a fun way.  I agree with the earlier reply that you should have let your nephew play games with his friends and retackle the learning when he is old enough to have a grasp of the economics and technicalities of Bitcoin.  

[South Park]

Although this is just my personal opinion, I would feel sorry for your nephew. Give him a ball and let him go play football with his friends. Knowledge about bitcoin does not take much time; you can explain everything to him when he gets older. But God, I see a blackboard and a teacher, and someone standing with a movie camera. Made me laugh. It is clear why these photos were taken. For an eleven-year-old child, it also takes practice to captivate him. Does the child have pocket money? My son usually spends them on his games, sweets, and other needs that are interesting to him at his age. Knowing from experience, children rarely agree to save for an extended period of time. But your nephew will eventually need to experience everything firsthand. Will he be able to buy himself a certain amount of bitcoins in order to fully feel like a young investor?

I will admit that based on what we see on the pictures the class does not seem as the most fun thing to do a kid could do with his time, however there are kids which are very interested at specific topics from a very early age, and if this is the case then I think the lecture makes sense, however I agree that I would prefer kids to be kids and to not worry about things like money until they are older, after all we only have a few years to enjoy our childhood and a whole life to worry about money issues.