A father who thinks that his Bitcoin secret is safe

[tabas]

Yeah, that looks dangerous whether it's not true, whoever hears that out of nowhere might have shown the true them if ever they are desperate and have nothing to lose. I think what the parents should teach are just the basics and don't tell them that you own a lot of it. That's where the crazy part that should be stopped. Because if everyone will know that you own a lot of Bitcoins, people will ask a loan from you or get bad intentions like $5 wrench attacks which should be avoided.

[virasisog]

This could lead to some serious problem, it could attract danger not only to the child but for their whole family.
At a young age child should not be exposed to their parent's business unless they are capable enough to handle it.
As a parent we should also know the danger of attracting wrong people by bragging about our income or how much we have so we should be careful on sharing information with our kids.

[Powerjumboo]

Actually it depends on the country because there are many countries where the use of Bitcoin is strictly prohibited but they have been using it secretly. In countries where Bitcoin has been officially banned, using Bitcoin openly becomes very risky. Now if the country you are talking about has banned the use of Bitcoin, then it is important to maintain confidentiality and it is better to keep the use of Bitcoin to yourself and not to reveal it to others. It is better not to discuss Bitcoin especially to young children because if Bitcoin is discussed with young children and if they are explained about Bitcoin, then the harm will be more than the benefit because the education of children will be greatly harmed, but I think it is important to teach Bitcoin at a certain age so that there is no harm in education.

[Ziskinberg]

Teaching bitcoin does not come only with the basics on how to understand bitcoin and its crypto market, and on how to secure the wallet 24/7, but it also comes with responsibility to be accountable whatever that comes out from your mouth as it may exposed the person's secret investment that he has been trying to kept all throughout the years. So the child should be taught not to reveal the secret to anyone as it could put bitcoin investment into danger and immediately lost all the hard-earned bitcoins without the owner's awareness.

If the child understands your point well, surely he will avoid discussing about your bitcoin to the people he met down the road.

[ScamViruS]

Teaching kids about Bitcoin is not a bad thing, I think it's a positive thing so that kids will be interested in Bitcoin and they will research it further. However, you should not disclose to your children how many Bitcoins you have, as this will bring more danger to you because children may reveal this when discussing Bitcoin with others.

Children can certainly be taught about Bitcoin by maintaining a minimum level of privacy so that your holdings are not revealed to outsiders. Because children often like to show off in front of others, and this showoff can often create dangerous situations.

[Kasabus]

If you are a responsible father, you will also make sure that your child will zip his mouth when it comes to bitcoin as that will put both of you in danger, along with the bitcoin investment. Bitcoin requires high privacy and anonymity, so the child should be aware about that, otherwise everything you have will just vanish in the thin air.

This is also the reason why teaching a child about bitcoin should not be done when he's totally immature, because no matter how you control that child, he is still a child who is still unaware whatever that comes out from his mouth as long as he is able to express what he wants to deliver.

[Man of peace]

Well it depends on the kind of child you have,if your child is so stubborn ,who does not know the importance of secret and have a bad characters then it is not good to tell him or her about your bitcoin investment.but if your child is a responsible child, wise , trustworthy and hard work ,who always keeps secrets then I don't think it's right to hide your bitcoin or any of your investments to him or her because he or she is so secretive person.. because it's important for your child to know some certain things about him or her father for a reasonable purpose..

[nakamura12]

I don't think it's dangerous for the children if the parents know how to teach their children like what to do and what to avoid. If a children being taught about crypto is not very careful or doesn't have knowledge about crypto will only make it lead to dangerous situation like what happened to people who got robbed or being kidnapped with bitcoin for ransom. It also depends on what country is that person from either it is prohibited or not.

[Kelvinid]

I think the first approach to all of this is to study your child first before anything. If you are the type of parent who pays attention to details, you will know about your children who have a loud mouth. This is not just about age, but some children can be very lousy. If your child is that type, then you will limit the type of sensitive information you allow them to gain access to.

Children are lousy in nature so you can't expect them to keep those private and sensitive information. But as they grow older, they will learn how to correct their behavior and slowly acting the proper way. So as a father, I will just wait for this time to come to teach my child about bitcoin. With this, I can be sure that he won't dispose the sensitive information about bitcoin, because that would mark an end to us, particularly my bitcoin investment. Its always better to wait for the right timing to teach your child rather than rushing to teach him and ruin your investment due to his unreliable behavior.

[Vaculin]

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

You have to understand your environment. This understanding will help you know which information should be given out to children who cannot exercise restraint. If you are aware that exposing that you own Bitcoin might attract criminals, then you shouldn't show a child anything about Bitcoin. There is this assumption in some areas that anyone who owns Bitcoin is rich. Most of these folks don't know that Bitcoin could be bought in bits, so they just assume that you own one or more.

Children should be allowed to enjoy their childhood. They shouldn't be bugged with lessons about Bitcoin. Their school work is even too tedious to add more lessons. My take is that young people from sixteen and above could be introduced to Bitcoin.

You would have to inform his father about the consequences of his son's comments. Then he should warn the kid never to mention Bitcoin anywhere.

I bet that's the right thing to do, inform his father about what his child is saying so that the worst scenario will be avoided.

We should not rush in teaching our children about bitcoin, because at their age, they have their own likes and interest on how to enjoy their childhood, so let them have it while they are young.

When they mature, they are responsible already to take things seriously, and that could be the time a serious topic like bitcoin will be teach and discussed immensely.

[Orpichukwu]

That's a serious opsec fail by the dad honestly. Kid's just being a kid but he could put a target on the family, best correction is to never show them the actual wallet or amounts, teach them what Bitcoin is, not what you have big difference

Showing them what you hold is wrong best could even be to avoid teaching them about crypto directly as showing them your balance might also mean same harm like telling them about crypto just like the child publicly said my dad owns some bitcoin he could also say it outside that my dad knows about bitcoin which could also make people target the dad.

[TastyChillySauce00]

a kid could say the same thing about real estate or any other asset. The future will be bitcoin is not a secret and its a fairly regular commodity used and held by everyone.

Thought the same thing, it's not too different with owning gold bars and paper money stashed somewhere else and the kids say their daddy got bunch of gold and money.

This kind of risk is not applied to bitcoin only. Anyway I think it's unwise disclosing the wealth to a kid that don't know better.
I don't even think this is normal. Parents don't just disclose their wealth detail easily even to their kids like that. Probably happened 1 in a thousand only.

[Gaza13]

This could lead to some serious problem, it could attract danger not only to the child but for their whole family.
At a young age child should not be exposed to their parent's business unless they are capable enough to handle it.
As a parent we should also know the danger of attracting wrong people by bragging about our income or how much we have so we should be careful on sharing information with our kids.

That's right, this will endanger the child and could invite harm from what the child says. Children don't yet have the brain capacity to process information and the emotional capacity to handle such complex matters, so parents need to protect them by limiting the use of sensitive information. And it is imperative that parents prioritize the child's age and maturity, and build trust through appropriate communication without sharing sensitive details such as income or wealth, which could become targets for kidnapping, fraud, or other crimes. Yes, in this case, only those closest to you, such as your wife, should know about things like this. It is much better to involve your wife than your children.

[Findingnemo]

People will take the words of 7 year old to be very serious?

I am not sure and even if he say any bitcoin and his father got that many bitcoins for real or he was just showing off something to their kids to look like a super hero?

Teach the kid about who they can share personal details and it should be none other than the parent and sibling.

[Alone055]

A person should know their children very well, and if you know that they don't have patience and can't keep secrets for long, you shouldn't involve them in such things because when it comes to finances and financial holdings, children shouldn't know much about them because they will surely discuss these things with people as soon as they get a little bit comfortable with them because they don't understand that this could be a threat for their father and can put them in danger.

Besides this thing, I believe children should only be taught such things once they become somehow matured, maybe older than 12 years old or something because at that age, children will be able to think critically themselves and don't do childish things, so there won't be a chance of them discussing secret stuff with people outside if you tell them not to do that just once, and even if you don't tell them, they might not even do it themselves because they now understand things better.

[Minor Miner]

I just find your story absurd, that a child would immediately grasp the topic you're discussing. It's like a made-up story. A child wouldn't say something like that right away, and what kind of father would teach their child about Bitcoin at age 7? It's a bit far-fetched, in my opinion. I mean, if you're going to make up a story, it should be more plausible, or just use it as an illustration rather than claiming it's your own.

What makes me think the OP's story is fabricated is because they only discussed binance and didn't mention bitcoin at all. And I can hardly believe that a 7 year old child knows what Binance is and understands its connection to Bitcoin. Even if the father taught or mentioned bitcoin to the child, I don't think he would go as far as sharing about Binance or non-custodial wallets with a first grader.

I also often talk about bitcoin with my son because he often sees the BTC logo in my office or on my phone. Sometimes he still tells his uncle that his dad has bitcoins and that's a kid's personality. But I have never seen it suddenly mention BTC unless he was asked about it or seeing the same thing.

[m2017]

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.

Children should be taught the basics of bitcoin not at an early age, but at the appropriate age for this.

I just knew that my neighbour is a Bitcoin investor through his 7 years old son,

7 years is too early. It would be acceptable to introduce a child to financial literacy at, say, 15 (when it's appropriate to begin instilling the basics of financial literacy), but not at half that age.

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".

It is precisely such casual statements that can bring trouble to the bitcoiner-dad.

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.

That's why it's essential to keep your loved ones (especially children) away from information about your bitcoins. For now. The less they know, the less likely they are to accidentally share it with strangers.

This can be included in the principles of secure ownership and storage of bitcoin - protecting information about your financial assets. This is strategically important information.

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.

Not necessarily, the child's words were true, and his father has many, many bitcoins. But the very mention of it could create trouble. In any case, this is a "failure" on the father's part to convey the correct information to his son (keeping quiet about important family information).

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

It's better not to fix the situation, rather than let it get to this point where the neighbors find out about your bitcoins. Initially, it was necessary to have a preventative conversation with the child about keeping secret important information.

[Antona]

This could lead to some serious problem, it could attract danger not only to the child but for their whole family.
At a young age child should not be exposed to their parent's business unless they are capable enough to handle it.
As a parent we should also know the danger of attracting wrong people by bragging about our income or how much we have so we should be careful on sharing information with our kids.

Absolutely kids have no filter and no sense of danger. Telling them specifics about finances, especially something like a Bitcoin stack, is a major opsec fail, you teach them principles, not numbers
safety first, always

[Royal Cap]

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

Here I think the bigger issue than the child's mistake is the environment. He said what he heard naturally it's not his fault. Rather we adults need to understand what can and cannot be said in which places. In my opinion it's better not to try to correct the child directly, this will make him curious and talk more. Rather, if there is a chance it's better to talk to the father about the privacy and safety of the children in general, without bringing up Bitcoin. And honestly, in today's world it's difficult to keep children separate from everything. So we should teach what can be said outside and what stays inside the house. This is more of a life skill lesson than Bitcoin.

[Koadharber]

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?

Children do not understand discretion. At seven years old they repeat information proudly not strategically. To them saying “my daddy has many Bitcoin” is no different from saying “my dad has a big TV”. The risk comes from adults around them who may interpret that information very differently. In environments where crime kidnapping or extortion exist even casual statements can expose a family to unnecessary danger.

If the child were mine the correction would not involve fear but framing and limits. I would separate education from disclosure. Teaching what Bitcoin is does not require revealing ownership balances or even confirming that we own any at all. The child should learn that money discussions are private just like family matters. This is a life skill not just a crypto rule.