A father who thinks that his Bitcoin secret is safe

[Asiska02]

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?

I still feel that the Dad didn’t utter such word to the child that he has a lot of bitcoin, the son just felt his Dad has lots of them after being lectured about it. How sensitive this information can be should not even make the Dad to actually say something out like that to his son knowing fully well that his son is lousy and can say it out anywhere. He would have cautioned the boy on how sensitive the information his and not to utter it out anywhere if he’d indeed tell his son about his possession of bitcoin.

The age limit to which you expose your child to crypto is very important also. We know that kids learn best from a younger age but when it comes to finances, financial knowledge and financial security, we should know what to tell them, how to tell them and how they’ll feel about it. Why does the casinos put the age limit of gambling to 18 and above, isn’t it not to make children get attached too much to making money and not wise enough to handle the money or even facing big losses and not trying to get back at the market or do something stupid with their naive mindsets. That’s how the bitcoin world should function also.

[serjent05]

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.

You see it that way, too?  I also think that the story is made up, discussing the Binance exchange and the kid spouting something about Bitcoin.  Kids won't butt in on a technical discussion because they know little about it.

Anyway about teaching kids about Bitcoin, I am neutral on this.  Although kids may learn faster than adults, young kids' ability to understand complex systems like Bitcoin, technology, and economics is really limited.  If one has to teach their kids, make sure that the child is old enough to understand economics and complex technology.

[Antona]

Whether the child has a bad or good character, if you teach a child about bitcoin below the ages of 12 years old, it won't be avoided that a child will tell-all to his friends or any relatives that he can talk to.

 He isn't aware of the danger that comes with it, so he is clueless that he is putting his father or the bitcoin itself into real danger, that's why I don't encourage teaching a child when it was in its grade school. I'LL just wait when he'll be ready to manage a secret and learn bitcoin seriously.

I agreed with you but it depends on how parents train up their children, if parents train up their children in the way they should grow, even though they grown into adults, they will not depart from it but grow to live with that principles which their parents has shown them.
So, if you trust your children so much and you feel they are ready to know what you are doing, that is involving them in your works, its a good idea.
But, if you feel they are not ready, you do what you know its the right thing to do, and its important to remember that life is unpredictable, as many things are really happening in this world.

True, upbringing matters a lot if they understand value and discretion, sharing your Bitcoin journey can be a powerful lesson but "feeling they are ready" is a gut call, and the unpredictable factor means you still need a technical or legal safeguard not just trust.

[Japinat]

Teaching a 7-year old kid? Why the rush?

Sometimes, I wonder why some parents are vey eager to teach their child about bitcoin when they can easily learn on it when they are already at their proper age and develop interest on bitcoin.

As a parent, I have goals to pass my legacy as a bitcoin investor to my kids, but I don't want to risk myself, my family, by letting my kids at a young age getting aware how much I'm earning with bitcoin because that breaks the privacy of your investment. I'll just do that when they are ready to learn.

[finaleshot2016]

I think you should let the kid know if they're already in the right age but for now, I think teaching them just general knowledge so you can secure the safety of your family. And besides, why would some believe a kid if there's a chance that he/she doesn't know what they're saying. You don't need to teach the kid, you just need them to guide about the definition of each thing in general terms, not actual terms like BTC that could put you into harm. This approach avoids exposing them to sensitive details like they're using BTC or have a lot of it. It also allows them to develop understanding gradually, you don't need to rush them because learning takes time and at the same time, you won't get on difficult situations.

[Issa56]

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.

I don’t think there is anything bad in teaching your child about bitcoin at the early stage, but firstly when you are teaching them about bitcoin, since they are still small, just let them know about the basics of bitcoin, and don’t even try to mention to them that you are holding bitcoin.

The mistake some people make is that they do expose everything to their children, and they are still small, they can decide to say anything at anywhere, and it’s going to endanger your life. If you are teaching your children about bitcoin, make sure even the wallet which you going to be using should be a new wallet, don’t make use of wallet which you having money, so they won’t even know the amount that you worth. Also try to talk to your children, let them know they are not even suppose to talk about bitcoin in pubic anyhow.

[Scarlett_23]

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 aged 6-7 cannot keep their words to themselves. However, children aged 10-12 are a bit more mature, so if you explain something to them, they can keep it to themselves. If your hard-earned Bitcoin cannot be enjoyed by your children or family in your absence, then the right plan for Bitcoin will not work.

Therefore, you should choose the most restrained among your children and, in addition to informing them about Bitcoin, you should also teach them to keep it a secret in their minds. You should explain to them very well that if any enemy or bad person finds out about Bitcoin, it will harm them and their family members.

And all of us parents must make sure that young children are around when talking about Bitcoin. The biggest thing I think is that if we do not teach our children the right way about Bitcoin, they will remain indifferent to BTC in our absence.

[BALIK]

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.

I don’t think there is anything bad in teaching your child about bitcoin at the early stage, but firstly when you are teaching them about bitcoin, since they are still small, just let them know about the basics of bitcoin, and don’t even try to mention to them that you are holding bitcoin.

The mistake some people make is that they do expose everything to their children, and they are still small, they can decide to say anything at anywhere, and it’s going to endanger your life. If you are teaching your children about bitcoin, make sure even the wallet which you going to be using should be a new wallet, don’t make use of wallet which you having money, so they won’t even know the amount that you worth. Also try to talk to your children, let them know they are not even suppose to talk about bitcoin in pubic anyhow.

But teaching bitcoin to a 7-8 year old child, who has no basic knowledge or skills in life is wasteful and unnecessary, IMO. That could even cause unexpected problems even if you don't reveal everything to them. Because children are innocent souls with vivid imaginations, they will say what they know, or what fleeting thoughts come to mind. It's like when you show them superhero movies, they'll tell their friends that you're a superhero, and when they grow up, they'll become superheroes too.

If you want to ensure your privacy and safety, it's best not to talk to them or share anything related to bitcoin or money at that age.

[HelliumZ]

This can certainly be extremely dangerous for the father, especially if the ignorant child goes anywhere and talks to any kind of person about the Bitcoin his father has, they can endanger his father at any time. That's why no parent should teach their children about Bitcoin under a certain age. However, parents should only teach their children about Bitcoin when their children are studying at the university or college level and have learned to protect their privacy. There are many kidnappers around us today. If they find out about our Bitcoin holdings, they will definitely be on the lookout for opportunities and can become a serious threat to us at any time. Therefore, it is wise to never tell minors about Bitcoin secrets.

[FortuneFollower]

This can certainly be extremely dangerous for the father, especially if the ignorant child goes anywhere and talks to any kind of person about the Bitcoin his father has, they can endanger his father at any time. That's why no parent should teach their children about Bitcoin under a certain age. However, parents should only teach their children about Bitcoin when their children are studying at the university or college level and have learned to protect their privacy. There are many kidnappers around us today. If they find out about our Bitcoin holdings, they will definitely be on the lookout for opportunities and can become a serious threat to us at any time. Therefore, it is wise to never tell minors about Bitcoin secrets.

I agree.

Life is life, funds are funds, and coins are coins.

You shouldn't tell your close ones, especially that little, about your fortunes, or at least not to hint at it to be safe and protect from potential risks that may arise this way.

[macson]

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

There is a reason why discussing bitcoin is important only to people who already understand security and privacy issues, because if you carelessly share your bitcoin information with others who do not understand these matters, they may not be able to keep the information safe and you may end up in trouble. such as someone suddenly asking how much Bitcoin you have, or worse, you getting stabbed just because your neighbor needs money and knows you have Bitcoin in your wallet.

Sometimes it is better to refrain from sharing your Bitcoin information with people who are not entitled to it- even if they are your own children or relatives, as it could cause problems for you later on.

[SOKO-DEKE]

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.

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.

[alastantiger]

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

Teaching a child what Bitcoin is not an issue, infact I would say it is better to have him learn things from a young age, it will probably give him an edge in life against his peers, you know but telling a child that you own Bitcoin, how much you own, or making it sound like a big deal is where your problem may start from. A 7-year-old repeating 'my daddy has many Bitcoin' does not really prove the father showed him a wallet balance, though, it more likely reflects a child echoing adult conversations without understanding privacy or risk. The same concern would exist if the child said his father had a lot of cash, land, or a big business. Bitcoin only feels more dangerous because it is digital and misunderstood, not because children learning about money is inherently harmful.

If the child were mine, the correction would focus on boundaries, not fear. Teach him Bitcoin as an idea or technology, not as what we have or what we just own. You have to remove quantities, that ownership pride, and public talk from the conversation entirely, and clearly explain that money matters are private and not for school or play discussions. Early financial education is healthy, but it must be paired with early privacy awareness, without that balance, the risk comes from oversharing, not from actually teaching Bitcoin to a child itself.

[Cyber_warrior]

Teaching a 7-year old kid? Why the rush?

Is anything bad in it? I don’t see anything bad in it, I see it as a good initiation  it’s better you teach your children about bitcoin from early stage, since they are young they will be able to assimilate things easily, and before they grow, then they will have been a professional when it’s comes to bitcoin and cryptocurrency. I feel it’s proper to teach our children about bitcoin, but don’t tell your children you have plenty of bitcoin or you have plenty coin.

If you tell your chicken that you have plenty of coin, then it’s wrong, because we know they are kids, and they can say whatever they like in public, they don’t really know the implication of what they are saying, so you revealing your wallet to them is wrong.

[Maslate]

Teaching a 7 year old child about bitcoin and showing him his bitcoin portfolio, that is the worst mistake a father can be done to his own investment. He should have tell his kid as well not to expose that to other people and tell them that his father is a bitcoiner.

But what else can we expect from that certain age? He likes to play and tell, and catches attention from the other people, so the risk is there when he starts telling around that his father has a huge amount of bitcoin. For him it was nothing since he is just telling what he knows about, but for his father it could be an end to his bitcoin investment.

[Hispo]

The most ironic things about it is how it is likely the father of that child probably does not even have much Bitcoin, but he says that around in order to make others to admire his father. He may not even be aware of the danger he is exposing himself and his father to.
Honestly, if I had a child who went around talking about anything I told him, then I would not even bother to mention Bitcoin to him, perhaps when he grew up and learned the importance of keeping secrets, specially when comes to money and valuable assets.

[MainIbem]

The most ironic things about it is how it is likely the father of that child probably does not even have much Bitcoin, but he says that around in order to make others to admire his father. He may not even be aware of the danger he is exposing himself and his father to.
Honestly, if I had a child who went around talking about anything I told him, then I would not even bother to mention Bitcoin to him, perhaps when he grew up and learned the importance of keeping secrets, specially when comes to money and valuable assets.

Same thing i thought cause back then, there was this kid who normally brag about his dad being very wealthy even when he wasn't asked but on the long run it was later discovered that his dad wasn't all wealthy but just average and he did that just to be in the league of rich kids and feel among. Well it's not a bad idea to expose kids to informations about Bitcoin but one thing should be avoided, telling them of the actual among of Bitcoin you got. Also, as a parent, you should understand your kids and know the kind of informations you reveal to them so you don't shot yourself on the leg.

[Mandoy]

This can certainly be extremely dangerous for the father, especially if the ignorant child goes anywhere and talks to any kind of person about the Bitcoin his father has, they can endanger his father at any time. That's why no parent should teach their children about Bitcoin under a certain age. However, parents should only teach their children about Bitcoin when their children are studying at the university or college level and have learned to protect their privacy. There are many kidnappers around us today. If they find out about our Bitcoin holdings, they will definitely be on the lookout for opportunities and can become a serious threat to us at any time. Therefore, it is wise to never tell minors about Bitcoin secrets.

There is a valid point that you are bringing up that I believe has more to do with the sharing of sensitive information than with Bitcoin itself. Complete confidentiality does not work either. In case of some unpredictable circumstances with the parent, the family might be left in the dark about assets they are entitled to. It is not the lack of education but bad privacy practices that are the real threat. Before going to university, children can be taught age-relevant lessons on privacy, discretion and personal safety. Exact quantities, warehousing information, or anything that can identify the identity and holdings should never be shared. Bitcoin second and responsibility and privacy first should be taught in education.

[ThemePen]

There is a valid point that you are bringing up that I believe has more to do with the sharing of sensitive information than with Bitcoin itself. Complete confidentiality does not work either. In case of some unpredictable circumstances with the parent, the family might be left in the dark about assets they are entitled to. It is not the lack of education but bad privacy practices that are the real threat. Before going to university, children can be taught age-relevant lessons on privacy, discretion and personal safety. Exact quantities, warehousing information, or anything that can identify the identity and holdings should never be shared. Bitcoin second and responsibility and privacy first should be taught in education.

Yes Privacy first, Bitcoin second, should be taught, since discussing money too much may create physical dangers to family. Hence, years before university are excellent opportunity to teach children that sharing Bitcoin information is as dangerous as leaving house door open.

Families should be aware that there is emergency plan so that they do not lose money forever in case parent is gone without knowing every secret such as amount of money and hiding places of keys. I think that Goldilocks Zone is teaching children on how to use wealth only when they have to, and that they should never talk about it with anyone because it will result in tricking people or physical threats.
Here I would say to use such tools as Multi Signature wallets or inheritance services to ensure that family does not stay in dark but privacy of funds is kept safe.

[Outhue]

The child should have been thought about Bitcoin only, but the father went ahead to expose his Numbers of Bitcoin to the child, that's a very stupid thing to do, and after he did this he still doesn't wake up from his slumber, he must be too confident of himself thinking nothing can happen..

If not, he would have called the boy and warn him about the dangers they will find themselves in if he ever reveals to anyone that they have Bitcoin, there is also a chance that the boy lied, kids of nowadays are very good at making up stories at a very young age and this can be the case, what if the father only thought the boy about Bitcoin and the boy made up the story that his father has Bitcoin? This is also possible.

OP should warn the father rather than choosing to keep quiet because of the father's behaviour, this is something that can safe someone's life, you don't judge this way when a life is on the line, it is bad to assume that since he is a not so friendly type he shouldn't warn him.