Teacher and Classmates Labeling Bitcoin as a Ponzi Scheme or a Scam

[Woodrose]

Story time 
My nephew, who is around 15 years old, has gained knowledge about bitcoin and cryptocurrencies through exposure to discussions between his father (my brother) and me, as we frequently talk about bitcoin. Whenever he has free time from school or chores, we allow him to listen in on our conversations and ask any curious questions he may have. For instance, he often asks questions like, "Uncle, what is bitcoin?" or "Is it a type of currency? Can I have one?" We do our best to explain the concept to him, but sometimes he grasps it easily while other times he struggles to understand. What I do know is that this young boy is displaying a keen interest in the subject.

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

People are judging based upon experience and not a further research. I have been through also in that situation wherein I heard stories about bitcoin as a ponzi scheme. Many workers in abroad, specially those who are just investing money think that bitcoin is a scam since they were a victim of a ponzi scheme that the front motivation was bitcoin.
Nowadays, we are thinking that earning through online is quick and fast not knowing the risk that may we get.

[1714568214]

1714568214

[1714568214]

1714568214

[1714568214]

1714568214

[1714568214]

1714568214

[Ziskinberg]

...

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

We can't please everyone to believe that Bitcoin is not a scam thing but the good thing is that your nephew got the idea about Bitcoin. Honestly, with the lack of proper education and trust, some people will simply don't believe that Bitcoin is real instead, they will think it was just imagination and a scam. Perhaps, it was not new to hear this thing but I'd just smile and have no intention to correct them because these people, no matter how hard you explain to them, they won't listen and it only ends arguments and misunderstandings.

[LogitechMouse]

~
Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

I thought I will be sleeping after reading your story, but I didn't.

Kidding aside, say to your nephew to stop interrupting with other people if they are saying that Bitcoin is a ponzi scheme or scam. Say to him to just focus on learning more about it than focusing on what others are saying to it. Your nephew knows that Bitcoin isn't a scam, and these people who are saying it are the ones who have little to no knowledge about it. One thing is that, the one that's saying that is his teacher. What do you expect? Your nephew will make an argument with your teacher regarding Bitcoin being a ponzi scheme? Your nephew making arguments with your classmates regarding that topic would still be good, but with a teacher? Just imagine that OP.

TBH, I'd agree with what your father said. He just stop discussing Bitcoin to other people especially if he don't know everything about it. He's too young for that TBH, but since curiosity got him to that point, I suggest to you OP to say to your nephew to just focus on learning, ignore the bad noises, move forward.

[Agbe]

I like the way the boy is curious to know about Bitcoin. This boy will learn faster because it is coming from his mind and not you and his father imposing on him. He is learning by himself. He is still at the tender age so when he is explaining Bitcoin to people they might not believe him and listen to him. But he can explain to his age mates and classmates. It is good to discuss Bitcoin with your family people specially with your wife or husband. So the children can learn small from there. There are some times they would even ask Daddy what is that thing call Bitcoin then you explain to them small the leave. Next time again if they asked you do again before you know they have known it well.

[SOKO-DEKE]

The issue is that some people will judge things in accordance with their feelings even though they lack understanding about it.I think that anyone who views Bitcoin as a fraud or a Ponzi scheme is doing so because they are ignorant of the technology and the blockchain.Therefore, if the boy's teacher and his classmates claim that Bitcoin is a fraud, it is nothing not new to me as I have seen them in the past before they went on to become successful investors.As a result, I am not always surprised by stories of all kinds because not everyone in the world adopted Bitcoin unless governments legalize it.

In fact, a lot of Bitcoin investors nowadays blame themselves for adopted Bitcoin lately since they initially  believed it to be a fraud. However, after some of them did research and discovered the reality about Bitcoin and blockchain technology, they chastised themselves for being foolish for not adopting Bitcoin in time.i may say if care is not taken even the teacher will later blamed itself for calling Bitcoin a ponzi scheme or scam.

[GeorgeJohn]

Actually from initial so many people have discussed and labelled bitcoin as a means of having a money laundering and shortcut of scam, theirs no cogent proof about that,  what I know concerning these is that Bitcoin is something we know quite well that all the numerous name that's been tagged by Bitcoin are all a fallacy not really real, so let us leave castigation of people and focus directly on the development of bitcoin presently 

[_BlackStar]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it.

Sometimes that's also true - but not all of it.
There are several ponzi schemes that pretend to be bitcoin as an investment - while investors are promised huge returns within a certain time frame. The teacher wasn't wrong - it's just that he generalized it all the same, it had to be changed.

I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

I would side with his father and ask him not to talk about bitcoin to those who hate bitcoin. You don't need a softer approach on someone who doesn't have the right perception of bitcoin - so leave them alone and move on with your plan.

[nakamura12]

Actually from initial so many people have discussed and labelled bitcoin as a means of having a money laundering and shortcut of scam, theirs no cogent proof about that,  what I know concerning these is that Bitcoin is something we know quite well that all the numerous name that's been tagged by Bitcoin are all a fallacy not really real, so let us leave castigation of people and focus directly on the development of bitcoin presently 

I guess the reason why they say that is because they didn't even spare some time to study and learn about it. They do have a point that it can be use to launder money and also they didn't bother to know its uses, advantages when you use or own some BTC. I would also say that they don't have a good mindset like when they are introduced to something new then they won't say it's a scam rather making a research if it is a scam or not.

[qwertyup23]

.....
Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

I find it both funny and ironic that some people claim cryptocurrencies or BTC as a ponzi scheme, but they are the ones who are not knowledgeable about the given topic. I am very sure that they get their information on false media platforms, like TikTok, Facebook, or any other medium which spread false information about it.

I am also appalled that the teacher mentioned and agreed that BTC is considered as a ponzi scheme. As a teacher, he/she has the responsibility of informing his/her students through verified information, not by some rumors or any kind of false information.

I do recommend to ask your nephew and question on how his teacher came up with the conclusion on why he considered it as such. If the teacher cannot give any verified information and/or source on why he claimed it as such, then better to ignore him and his classmates.

[YUriy1991]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

Say the first to your nephew For example..Ooo. That's their right to say and that and it's not wrong according to them. This means that physically he wins where your nephew still understands more and is not skeptical in understanding BTC and its value and growth potential.

Give an additional description that is objective and balanced and don't be too technical first to your nephew so that he is more critical and has a strong filter in receiving information from various sources, for example, as you mentioned, namely his class teacher and current classmate Labeling Bitcoin as a Ponzi Scheme or Fraud. In the end, your nephew can determine his own views based on correct information and obtained from direct personal experience. Yes. I think it's easy.

[avp2306]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

Don't get frustrate about their opinion but rather respect it. Maybe they don't know bitcoin yet so understand their situation.

Just continue what you do and stay ow key so that you will not receive any discouraging word from them. Just show them a result because money can change the personal perspective of people so show them what they miss and for sure they are the one will come to you and ask about how they can also participate with activities using bitcoin.

[dzungmobile]

Don't get frustrate about their opinion but rather respect it. Maybe they don't know bitcoin yet so understand their situation.

Just continue what you do and stay ow key so that you will not receive any discouraging word from them.

You don't need to feel frustrating when they are against your idea, belief and investment. You are not teachers for them without fee. Why you have to use your time to teach them what they don't believe in and they even call you as a scammer?

Honestly gaining knowledge in Bitcoin market needs time, a lot of time and they even have to pay fee to learn right knowledge at beginning. If you learn something wrongly at beginning, it will be more difficult to correct your knowledge later if what you learned already settles deeply in your brain.

Just show them a result because money can change the personal perspective of people so show them what they miss and for sure they are the one will come to you and ask about how they can also participate with activities using bitcoin.

I disagree. Don't connect Bitcoin with money, profitable stories only.

Even it is more attractive to tell them such stories because human are all greed and will be attracted with things that can help them rich. But if you do this, they will knock your doors and ask why they end with loss from investment or trading with Bitcoin.

You also will put yourself at risk if they know you are rich by bitcoin. They might observe you and steal your bitcoin or kidnap you. Do you want this? Personally I don't want such troubles. 

[tech30338]

Story time 
My nephew, who is around 15 years old, has gained knowledge about bitcoin and cryptocurrencies through exposure to discussions between his father (my brother) and me, as we frequently talk about bitcoin. Whenever he has free time from school or chores, we allow him to listen in on our conversations and ask any curious questions he may have. For instance, he often asks questions like, "Uncle, what is bitcoin?" or "Is it a type of currency? Can I have one?" We do our best to explain the concept to him, but sometimes he grasps it easily while other times he struggles to understand. What I do know is that this young boy is displaying a keen interest in the subject.

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

As a person who knew bitcoin during times where scammers are everywhere, and people falls to their scheme, you should tell him to ignore those people why? just like the people who bash bitcoin before they will eventually jump in when its too late, instead of wasting his energy and effort to those people focus on increasing his knowledge and share it to people who have interest on it, although its natural for people to say its a scam getting mad will not bring him to the top, ignoring them and showing them the result is the best way for them to regret what they said, and they will eventually regret it.

[Die_empty]

Story time 
My nephew, who is around 15 years old, has gained knowledge about bitcoin and cryptocurrencies through exposure to discussions between his father (my brother) and me, as we frequently talk about bitcoin. Whenever he has free time from school or chores, we allow him to listen in on our conversations and ask any curious questions he may have. For instance, he often asks questions like, "Uncle, what is bitcoin?" or "Is it a type of currency? Can I have one?" We do our best to explain the concept to him, but sometimes he grasps it easily while other times he struggles to understand. What I do know is that this young boy is displaying a keen interest in the subject.

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

My sons also acts the same way. He always ask question about bitcoin and mostly my activities in the forum. He understands some of the concepts , while others are difficult for him to grab. But I am careful not to transfer or expose sensitive concepts like my password, username and wallet to them. Children cannot be underestimated. His father is right based on my views. Your brother might be concerned about privacy and security. If you tell anybody that you own a bitcoin in my location, they will see you as a very rich person. This can make you a target of criminals because they think you are rich.

Your nephew is in the secondary school and bitcoin education is not highly needed in his class. Most of them might not be interest and don't have the fund to buy bitcoin. My advice it that you communicate with the teacher and teach him about bitcoin. If he gets the true picture, advice him to tell the students the truth.   

[robelneo]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

You cannot blame his teacher and classmates, with so many scams and news of Ponzi schemes using Bitcoin as a payment gateway, uneducated people will see Bitcoin in a bad light, I have a lot of bad experiences explaining Bitcoin to people who are active in MLM and ordinary people because they rely on and check central figures and offices to consider the legitimacy of one project.

But with our government's support of Cryptocurrency, people can now easily relate to Bitcoin because the top payment processor and internet service providers are openly supporting Cryptocurrency, if your government support and regulate Cryptocurrency explaining is easier because no government will support the Ponzi scheme and scams.

One of the easier to explain to people about Bitcoin is to use the best video-sharing platform Youtube, the video creators are the best explainers of what Bitcoin is and its advantage, never argue about Bitcoin, everything is in place for Bitcoin adoption worldwide they just need authority figure or credible sites to explain this, just lead them here, I'm using this method and so far I'm successfully doing this.

[LoyceMobile]

Ask the teacher to explain fiat money. If he can't, there's no reason to trust him on anything related to money.

[Majestic-milf]

 I quite agree with @LoyceMobile's logic. Honestly people will try to refute what they do not have in-depth knowledge of and I'd not bother to change the teacher's perception if I were you since your actions could either offend him or cause him to still believe in his notions because some people, no matter how genuine a thing is, there's still always going to be a reason for finding fault.
 I must commend your nephew's curiosity towards Bitcoin, it's great to hear that a kid his age is interested in digital currencies and the like but I'd ask a quick question tho. Is he really into it or probably has just picked interest simply because that's all he hears you two talk about??
 

[demonica]

I understand this situation. It's really frustrating when your teacher or professor says something like that about Bitcoin especially during in class. They don't know a lot about Bitcoin but act like they know everything by saying it's a scam and such. And sometimes, since they're the professor, your classmates will somehow believe on what the teacher will say.

Your nephew is still young, and his friends around him are still young, so it's understandable if his friends won't be interested and will think about Bitcoin in that way. But great for him to be interested in Bitcoin at a very young age. Once he gets a bit older, he can gain a deeper understanding about Bitcoin and he might be able to influence his friends. Your nephew doesn't need to keep persuading others on believing about Bitcoin, the time will come that his friends will be the one who'll come to him to ask about Bitcoin.

[Gallar]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

It is undeniable that currently there are still many people who consider bitcoin as a Ponzi scheme, or as a deceptive asset. Even though all of these assumptions, are really wrong opinions. Because ponzi schemes are the complete opposite of what is applied to the bitcoin system, so people who call bitcoin a ponji scheme really appear to be that these people only value bitcoin from their dislike of bitcoin, and maybe from the news who vilify bitcoin. So these people call bitcoin as a ponzi scheme or as a fraudulent asset, just because of this factor, and it seems that these people have never even studied bitcoin, so bad opinions arise about bitcoin.

So in essence, don't take or respond too seriously, about bitcoin opinions that come out of the mouths of people like that. Because these people are just talking nonsense and have no clear evidence or experience about the opinions they issue. And in conclusion (to your cousin), stop talking about bitcoin with his schoolmates or teacher. Because talking about bitcoin with people like that will only make your mind heat up and make you want to get angry. Because maybe their thoughts about bitcoin, are not on the same frequency as your thoughts.

[Sexylizzy2813]

Recently, he expressed his frustration about his teacher and classmates labeling bitcoin as a ponzi scheme or a scam each time he talks about it. I'm seeking a variety of advice that I can offer to my nephew in this situation. Although his father suggested that he should stop discussing bitcoin, I don't feel comfortable with that approach. What are your thoughts on this matter?

Like they say, what you don't know is bigger than you. The teacher and classmates don't know or have any idea of what Bitcoin is so is best they stick to their own view about Bitcoin, unless you as the uncle can make out chance to make the conversation more mature, that's with the teacher. And if eventually you succeed in convincing the teach then the classmates won't be a problem. As the case maybe, I don't blame how the teacher or classmates sees Bitcoin is just wrong information that's the main cause in this situation.