A father who thinks that his Bitcoin secret is safe

[Alone055]

Teaching a child about Bitcoin and cryptocurrency in general at an early age is not bad, but teaching a child does not mean that parents should tell him or her about their involvement in crypto. Parents should decide whether to tell their child if they have Bitcoin or not.telling a child something that is meant to be a secret may cause it to become public.

No, it's not a good idea to teach children about cryptocurrencies or finances and financial management at an early age because that will become a contradiction for what they should be learning at that age, because these things could be very complex for children, and they shouldn't be learning complex things at that age but should only be learning the basics of what they are going to study further, and these things are extras that they can learn later when they grow up a little. You can't expect a 7 year old to understand cryptocurrencies, even if they are smart, let them use that smartness on their general studies first.

Even if parents are involved in Bitcoin or own Bitcoin, they should wait until the child reaches a certain age, such as 18 years because that is when maturity usually develops.before that age, parents should know whether the child is worth trusting or not. If the child is trustworthy, then parents can tell him or her about their Bitcoin involvement. Children should not be told sensitive secrets because they may not fully understand the importance of keeping such information private.

Parents don't even need to tell their children about their investments in Bitcoin or cryptocurrencies, they should teach them about it after they reach a certain age, and if they want to do something for them, they should simply keep buying and holding Bitcoin for their future, and then find a way for them to have access to the assets in case something happens to them before they can hand the details over.

[Oshio-man]

You can teach your children about bitcoin and other exchanges where to buy and sell bitcoin and other cryptocurrencies in the market, but don't allow your children to see your seeds phrase or password to your wallet because they can messe up your bitcoin because you have given them access to your bitcoin, what that child did by telling you that his dad have huge amount of bitcoin in his wallet can make someone to deceive that child to bring his dad wallet because the child must know his dad password, I'm not against teaching your children bitcoin but never allow them to know how much of bitcoin you are holding in your wallet, and don't let your seed phrases to be expose to your wife and children.

[davis196]

This guy made a huge mistake telling his 7 year old son about his BTC wealth. If I ever had children, I would never tell them anything about my financial situation, when they are very young. It's up to you to decide whether to talk to this guy or not. If I was at your place, I wouldn't bother talking to such people. I'm not that helpful and empathetic and some people really deserve to pay the price for their mistakes.
If you talk to the guy, he might get angry and start a fight. You never know what is going to happen. Staying quiet and not doing anything is probably the best strategy.

[Strongkored]

Somehow I believe the father must have exposed his crypto wallet balance to his son or maybe after the father lectured the son about Bitcoin few times the son started to think that his father has Bitcoin? Either ways this is not good, and the reason why I haven't try talking to his father is because of how unfriendly he is even though we are neighbours.

What do you think is the best way to correct this of the kid is yours?

Even though his father has disclosed his balance, does the child understand the value of Bitcoin? I doubt it, especially since the child mentioned Bitcoin after hearing the word Binance exchange. So my assumption is that his father is a trader, not an investor. Also, the father's actual wealth is determined by his tangible assets, I mean, if he is just an ordinary family, I doubt the value of his Bitcoin is greater than his tangible assets. So, there's no need to worry, because the father knows his goals better than you, who can only judge from the outside.

[nakamura12]

This guy made a huge mistake telling his 7 year old son about his BTC wealth. If I ever had children, I would never tell them anything about my financial situation, when they are very young. It's up to you to decide whether to talk to this guy or not. If I was at your place, I wouldn't bother talking to such people. I'm not that helpful and empathetic and some people really deserve to pay the price for their mistakes.
If you talk to the guy, he might get angry and start a fight. You never know what is going to happen. Staying quiet and not doing anything is probably the best strategy.

It's his decision if he wants to tell his children about his Bitcoin wealth and if it's a mistake then it's his mistake and not talking to them is the right choice and you might get in trouble even if you are helpful or not. He must have a reason to disclose his balance to his child and I think he wants his child to inherit his Bitcoin funds to his child in the future. It is possible that he also wants his child to become knowledgeable about Bitcoin and other related stuff.

[Rustam Meraj]

This guy made a huge mistake telling his 7 year old son about his BTC wealth. If I ever had children, I would never tell them anything about my financial situation, when they are very young. It's up to you to decide whether to talk to this guy or not. If I was at your place, I wouldn't bother talking to such people. I'm not that helpful and empathetic and some people really deserve to pay the price for their mistakes.
If you talk to the guy, he might get angry and start a fight. You never know what is going to happen. Staying quiet and not doing anything is probably the best strategy.

I completely agree that telling small child that they have much of Bitcoin is great safety risk since children can easily talk about it with other people without care and this may result in unsafe situations such as stealing. I think that decision to remain silent is smartest one since it is always hard to offer unwanted advice and it is not worth it to attempt to correct the mistakes of another person.

Most valuable lesson which you mentioned in crypto world is that it is best to keep your business secret to stay safe, and in case one fails to do so, he or she will have to learn lesson. In case you really felt that you had to say something, you could talk about frightening story of hack to warn him about it indirectly, but in case he is kind of person who gets angry, then remaining quiet is certainly best way to take. Why take chance of fight to help person who has not even asked for your advice in first place.

[Ayers]

Teaching a child about Bitcoin and cryptocurrency in general at an early age is not bad, but teaching a child does not mean that parents should tell him or her about their involvement in crypto. Parents should decide whether to tell their child if they have Bitcoin or not.telling a child something that is meant to be a secret may cause it to become public.

No, it's not a good idea to teach children about cryptocurrencies or finances and financial management at an early age because that will become a contradiction for what they should be learning at that age, because these things could be very complex for children, and they shouldn't be learning complex things at that age but should only be learning the basics of what they are going to study further, and these things are extras that they can learn later when they grow up a little. You can't expect a 7 year old to understand cryptocurrencies, even if they are smart, let them use that smartness on their general studies first.

I also don't think teaching about bitcoin, finance, or investing to a 7-year-old is a good idea. Because that knowledge is beyond their level of understanding and thinking. At that age, what children need are basic life skills and time to play and get acquainted with their surroundings.

To help our children have a bright future, it is important not to force them to learn complex subjects too early, but to educate them systematically and appropriately for their age. Many people don't understand this.

Even if parents are involved in Bitcoin or own Bitcoin, they should wait until the child reaches a certain age, such as 18 years because that is when maturity usually develops.before that age, parents should know whether the child is worth trusting or not. If the child is trustworthy, then parents can tell him or her about their Bitcoin involvement. Children should not be told sensitive secrets because they may not fully understand the importance of keeping such information private.

Parents don't even need to tell their children about their investments in Bitcoin or cryptocurrencies, they should teach them about it after they reach a certain age, and if they want to do something for them, they should simply keep buying and holding Bitcoin for their future, and then find a way for them to have access to the assets in case something happens to them before they can hand the details over.

If we want to maintain privacy and safety, we should avoid discussing matters related to money or valuable possessions with children, as they are not good at keeping secrets.

You're right, if we want to leave them bitcoin, gold, or any other inherited assets, we just need to save and manage those assets for them. There's no need to tell them those things too soon.

[Byebyebtc]

Tell your children about your Bitcoin Ath the wrong time is what is wrong, you have to wait a little longer until your child is big and matured enough before you decide take such a move.
Any parent who thinks that telling his child at a small age is a good Idea must be ready to phase the consequences Is any personal information Is Sheard out.

Even telling your matured child is not even advisable, it is better you give your information to someone else that you can totally trust, since this generation children are really corrupt, they might do something silly to get some money.

[HelliumZ]

Tell your children about your Bitcoin Ath the wrong time is what is wrong, you have to wait a little longer until your child is big and matured enough before you decide take such a move.
Any parent who thinks that telling his child at a small age is a good Idea must be ready to phase the consequences Is any personal information Is Sheard out.

Even telling your matured child is not even advisable, it is better you give your information to someone else that you can totally trust, since this generation children are really corrupt, they might do something silly to get some money.

Currently, in some countries, young children are taught about Bitcoin, most recently in El Salvador, where it is mandatory for children to learn about Bitcoin at the high school level. In this case, they are gaining extensive knowledge about Bitcoin at the high school level, so their parents will definitely give them an idea about Bitcoin wallets. This means that while teaching children about Bitcoin, they must also be taught to protect their privacy so that they do not discuss Bitcoin with strangers.

[Bitcoin_people]

Few people believe that teaching Bitcoin to their children at early stage isn't bad, but what the world has turned into today makes me think how dangerous it can be.

I just knew that my neighbour is a Bitcoin investor through his 7 years old son, I was outside with a friend receiving fresh breeze under the mango tree in our compound and the boy came along to play with us, while we were having a discussion about Binance exchange he uttered Bitcoin and said " my daddy has many Bitcoin".

I cautioned him instantly, but I can't stop thinking about the dangers that this kid can bring to his father, different "what if" started coming to my mind, this boy can say the same thing in his school, or to bad people without him knowing.

Somehow I believe the father must have exposed his crypto wallet balance to his son or maybe after the father lectured the son about Bitcoin few times the son started to think that his father has Bitcoin? Either ways this is not good, and the reason why I haven't try talking to his father is because of how unfriendly he is even though we are neighbours.

What do you think is the best way to correct this of the kid is yours?

We know that keeping Bitcoin investments secret is the most important thing, otherwise it should not be disclosed to relatives and friends. You mentioned the child, of course it can be harmful for the boy's father when the boy will talk about all this in different places. I think since you have come to know about this from the son, of course the son father has Bitcoin, because of which his father may have heard discussions about Bitcoin at any time. But I think if this boy talks like this to people, then of course it can be harmful. You should go to this boy's father and tell these things. If you tell him about this, he will finally understand very easily and his son will be able to explain it well, otherwise of course that father may face a lot of losses.

[Antona]

Few people believe that teaching Bitcoin to their children at early stage isn't bad, but what the world has turned into today makes me think how dangerous it can be.

I just knew that my neighbour is a Bitcoin investor through his 7 years old son, I was outside with a friend receiving fresh breeze under the mango tree in our compound and the boy came along to play with us, while we were having a discussion about Binance exchange he uttered Bitcoin and said " my daddy has many Bitcoin".

I cautioned him instantly, but I can't stop thinking about the dangers that this kid can bring to his father, different "what if" started coming to my mind, this boy can say the same thing in his school, or to bad people without him knowing.

Somehow I believe the father must have exposed his crypto wallet balance to his son or maybe after the father lectured the son about Bitcoin few times the son started to think that his father has Bitcoin? Either ways this is not good, and the reason why I haven't try talking to his father is because of how unfriendly he is even though we are neighbours.

What do you think is the best way to correct this of the kid is yours?

We know that keeping Bitcoin investments secret is the most important thing, otherwise it should not be disclosed to relatives and friends. You mentioned the child, of course it can be harmful for the boy's father when the boy will talk about all this in different places. I think since you have come to know about this from the son, of course the son father has Bitcoin, because of which his father may have heard discussions about Bitcoin at any time. But I think if this boy talks like this to people, then of course it can be harmful. You should go to this boy's father and tell these things. If you tell him about this, he will finally understand very easily and his son will be able to explain it well, otherwise of course that father may face a lot of losses.

You're spot on this is how people get targeted, the father might think he's just having casual talks at home, not realizing his son is internalizing it as gossip fodder, a friendly low-key chat could save him from a world of trouble it's about protecting the family, not judging their opsec. Hopefully he'll be grateful for the warning

[Faisal2202]

Somehow I believe the father must have exposed his crypto wallet balance to his son or maybe after the father lectured the son about Bitcoin few times the son started to think that his father has Bitcoin? Either ways this is not good, and the reason why I haven't try talking to his father is because of how unfriendly he is even though we are neighbours.

What do you think is the best way to correct this of the kid is yours?

Kids are unpredictable, that's why we talk less in front of them, we don't talk about relations or finance in front of them and we don't bring defensive items in front of them either. To keep them and ourselves safe. That's why it is important to teach kids about the world first but teaching kids that not every person is kind and can be dangerous etc. etc.

Can lead to other things, but so far the best approach is to let the kid grow a little because a 7-year-old is not old enough to know all this. The least age is 13 because at that age, kids are not that kid anymore and they understand most of the things than before. That age is best in my thought but still, you have to observe if they are capable of keeping secrets otherwise, don't tell them you are also into btc, or show them how much you own, but teach them by staying neutral if that's possible.

[Mame89]

I'm not sure if this story is true or just made up to create a thread. It seems like a 7-year-old child still has difficulty understanding Bitcoin especially if he can tell you that his father has Bitcoin on the Binance exchange. Furthermore it's impossible for a father to teach his child about Bitcoin at such a young age especially since Bitcoin is a complicated asset to explain, especially to a 7-year-old.

Teaching children about Bitcoin for inheritance is good, but if they're still 7 years old I think teaching them the basics of financial literacy would be even better. Teaching them about Bitcoin will be more effective when they're older.