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Author Topic: Bitcoin for kids  (Read 3555 times)
ErebusBat
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July 02, 2012, 12:22:01 AM
 #21

Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?

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July 02, 2012, 12:31:57 AM
 #22

I just remember it being a chore... having to teach them about counting back change, waiting for it at the counter and making sure it was right instead of getting ripped off.

now they just expect to see their balance go up every saturday morning when I pay their allowance and regretfully go down when they want something. it's a million times easier now with bitcoin because exchange rates and change are calculated for you. it's just a number to them now.

I rant about the government printing money to pay the bills and comment that it's not fair I dont get to do the same thing, but I don't think they are up to that level of conception yet. I'm expecting that to kick in in about 5 years when they start studying civics in school and hopefully we'll have another full libtard in our family by then.

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July 02, 2012, 08:33:52 AM
 #23

I thought of open transactions (and maybe I'll still look into), but I really want something very simple that works very much like a typical Bitcoin client works (with similar a addressing scheme, etc).

CREATE ASSET ACCOUNT -- SOURCE CODE
Code:
  def OT_ME::create_asset_acct(SERVER_ID, NYM_ID, ASSET_TYPE_ID)
    {
        var ot_Msg := OTAPI_Func()
        // -------------------------
        var theRequest := OTAPI_Func(ot_Msg.CREATE_ASSET_ACCT, SERVER_ID, NYM_ID, ASSET_TYPE_ID)
        var     strResponse = theRequest.SendRequest(theRequest, "CREATE_ASSET_ACCT")
        
        return strResponse
    }
------------------------------------------------------------------------------------------

SHOW ACCOUNT BALANCE:

~/Projects/Open-Transactions/include
> opentxs balance

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

    Balance: 1211
eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn   (FT's Silver)

------------------------------------------------------------------------------------------

SOURCE CODE for "balance" command, using OT API:

Code:
def details_account_balance(strID)
{
    var strName          = OT_API_GetAccountWallet_Name(strID)
    var strBalance       = OT_API_GetAccountWallet_Balance(strID)
    
    OT_API_Output(0, "\n    Balance: ") //stderr
    print(strBalance) // stdout
    OT_API_Output(0, strID + "   (" + strName + ")\n\n") //stderr
}
------------------------------------------------------------------------------------------

SHOW CASH PURSE (on local client):

~/Projects/Open-Transactions/include
> opentxs showpurse

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Total value: 1
Token count: 1

Index   Value   Series   ValidFrom      ValidTo      Status
0         1      0      1339606926   1355158926      valid


------------------------------------------------------------------------------------------

WITHDRAW CASH:

~/Projects/Open-Transactions/include
> opentxs withdraw

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Enter the amount as integer[1]: 109

Server response (withdraw_cash): SUCCESS withdrawing cash! (From account on server, to local purse.)
Success retrieving intermediary files for account.


------------------------------------------------------------------------------------------

SOURCE CODE for withdraw cash:

Code:
   var madeEasy = OT_ME()

    var strResponse = madeEasy.withdraw_cash(Server, strMyNymID, MyAcct, strAmount)
    var strAttempt  = "withdraw_cash"
    // ***************************************************************
    
    // Interpret the server's reply...
    
    var nInterpretReply = InterpretTransactionMsgReply(Server, strMyNymID, MyAcct, strAttempt, strResponse)
    
    if (1 == nInterpretReply)
    {    
        // Download all the intermediary files (account balance, inbox, outbox, etc)
        // since they have probably changed from this operation.
        //
        var bRetrieved = madeEasy.retrieve_account(Server, strMyNymID, MyAcct) //bForceDownload defaults to false.
        
        OT_API_Output(0, "\n\nServer response ("+strAttempt+"): SUCCESS withdrawing cash! (From account on server to local purse.) \n")
        OT_API_Output(0, (bRetrieved ? "Success" : "Failed") + " retrieving intermediary files for account.\n")
    }

------------------------------------------------------------------------------------------

VIEW (UPDATED) BALANCE:

~/Projects/Open-Transactions/include
> opentxs balance

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

    Balance: 1102
eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn   (FT's Silver)

------------------------------------------------------------------------------------------

VIEW UPDATED PURSE (on local client):

~/Projects/Open-Transactions/include
> opentxs showpurse

Welcome to Open Transactions -- version 0.82.h
PLEASE SIGN YOUR PASSPHRASE:

Total value: 110
Token count: 7

Index   Value   Series   ValidFrom   ValidTo   Status
0      1      0   1339606926   1355158926      valid
1      100      0   1339606926   1355158926      valid
2      1      0   1339606926   1355158926      valid
3      5      0   1339606926   1355158926      valid
4      1      0   1339606926   1355158926      valid
5      1      0   1339606926   1355158926      valid
6      1      0   1339606926   1355158926      valid


~/Projects/Open-Transactions/include
>

------------------------------------------------------------------------------------------

SOURCE CODE for "show purse":

Code:
           var strAmount = OT_API_Purse_GetTotalValue(Server, MyPurse, strPurse)
            print("\n\nTotal value: " + strAmount)
            
            // Loop through purse contents and display tokens.
            var nCount =  OT_API_Purse_Count(Server, MyPurse, strPurse)
            // ----------------------
            if (nCount > 0)
            {
                print("Token count: " + nCount.to_string() + "\n")
                print("Index\tValue\tSeries\tValidFrom\tValidTo\t\tStatus")

                var nIndex = -1
                
                while (nCount > 0)
                {
                    --nCount
                    ++nIndex  // on first iteration, this is now 0.
                    // -------------------
                    var strToken = OT_API_Purse_Peek(Server, MyPurse, MyNym, strPurse)
                    var strNewPurse = OT_API_Purse_Pop(Server, MyPurse, MyNym, strPurse)                    
                    strPurse = strNewPurse
                    // ------------------------------------------
                    var strDenomination = OT_API_Token_GetDenomination(Server, MyPurse, strToken)
                    var nSeries         = OT_API_Token_GetSeries      (Server, MyPurse, strToken)
                    var strValidFrom    = OT_API_Token_GetValidFrom   (Server, MyPurse, strToken)
                    var strValidTo      = OT_API_Token_GetValidTo     (Server, MyPurse, strToken)
                    var strTime         = OT_API_GetTime()
                    // ------------------------------------------
                    // Output the token...
                    
                    var strStatus = (strTime.to_int() > strValidTo.to_int()) ? "expired" : "valid"
                    
                    print(nIndex.to_string() + "\t" + strDenomination + "\t" + nSeries.to_string() + "\t" + strValidFrom + "\t" + strValidTo + "\t" + strStatus)
                    // ------------------------------------------
                } // while
            } // if nCount > 0


More examples here:  https://github.com/FellowTraveler/Open-Transactions/wiki/Use-Cases

Support available.

Full examples for using the high-level API are also available in Java (in the Moneychanger test GUI),
as well as in the new opentxs high-level command-line interface (which itself is actually written in OT script):

Code:

> opentxs help

Welcome to Open Transactions -- version 0.82.h

PLEASE SIGN YOUR PASSPHRASE:
From command-line-opt.ot (defaults):
Using as server: tBy5mL14qSQXCJK7Uz3WlTOKRP9M0JZksA3Eg7EnnQ1
Using as mynym: T1Q3wZWgeTUoaUvn9m1lzIK5tn5wITlzxzrGNI8qtaV
Using as myacct: eMldMMiKfJRO8B8yJjzcezs9xvSt7dkdlWt50e8CDxn
Using as hisacct: iT4nJZbqlT8EPd4ZjWKsA9YxsAboO334sCJ0oYdgh1G
Using as 'his' nym: SP8rPHc6GMRPL517UL5J8RK2yOiToyVqMaj3PUHvLzM


Commands:

acceptall accept all receipts in myacct's inbox.
activate activate a smart contract or payment plan.
addsignature add a signature to a contract without releasing others.
balance display balance for a specific account.
canceloffer cancel a still-running, recurring market offer.
cancelplan cancel a still-running, recurring payment plan.
checknym download a nym's public key based on his ID.
cheque write a cheque.
confirm confirm your agreement to a smart contract or payment plan.
decode OT-base64-decode out of armor.
decrypt decrypt ciphertext using nym's private key.
delmail delete an in-mail item.
deloutmail delete an out-mail item.
deposit deposit cash, cheque, voucher, or tokens.
discard discard/cancel a not-yet-cashed, outgoing instrument.
encode OT-base64-encode into armor.
encrypt encrypt plaintext to a nym's public key.
exchange exchange in/out of a basket currency.
getcontract download an asset or server contract by its ID.
inbox display inbox of a particular account.
issueasset issue a currency contract onto an OT server.
mail display in-mail for a particular nym.
newacct create a new asset account.
newasset create a new asset contract.
newbasket create a new basket currency.
newkey create a new symmetric key.
newnym create a new nym.
newoffer create a new market offer.
newserver create a new server contract.
outbox display outbox of a particular account.
outmail display out-mail for a particular nym.
outpayments display contents of outgoing payments box.
pass_decrypt password-decrypt a ciphertext using a symmetric key.
pass_encrypt password-encrypt a plaintext using a symmetric key.
payments display contents of incoming payments box.
records display contents of record box.
refresh download latest intermediary files for myacct.
refreshnym download latest intermediary files for mynym.
register register a nym onto an OT server.
sendmsg send a message to another nym's in-mail.
showacct show account stats for a single account.
showbaskets show basket currencies issued on a particular server.
showmint show a mint file for specific asset ID. Download if necessary.
showmyoffers show mynym's offers on a particular server and market.
showoffers show all offers on a particular server and market.
showpurse show contents of cash purse.
sign sign a contract, releasing all other signatures first.
stat display wallet contents.
transfer send a transfer from myacct to hisacct.
trigger trigger a clause on a running smart contract.
verifyreceipt verify your intermediary files against the last signed receipt.
verifysig verify a signature on a contract.
voucher withdraw a voucher (cashier's cheque).
withdraw withdraw cash. (From acct on server into local purse.)


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creator, Open-Transactions
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July 02, 2012, 11:15:50 AM
 #24

Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?

I have a 2 and 3.5 year old. I've got over a dozen Casascius coins. Both my girls seem to get the idea that the numbers on the sticker are what is valuable...my 2 year old asked where the sticker on her quarter was. Too cute.

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July 02, 2012, 11:42:21 AM
 #25

I don't see any reason not to use real bitcoins. As chmod755 suggested, set the client to display Millies and you're set to go.
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July 02, 2012, 01:29:06 PM
 #26

Sorry I wasn't suggesting not to use real bitcoins, but asking for input on how people also educate on fiat.  I think this is necessary given that we will be dealing with some form of it for the foreseeable future.

I am just not sure the best way to explain inflation and what-not, especially after you have described mining blocks :/

Just looking for others input.

I like the physical idea (casascius or not).  Maybe some form of checks or notes, kinda like the USD used to be, only backed by BTC and not AU.  Thing is.... kids are not cautious and it would be nice to help protect them from themselves, although I guess a 'savings' account at the bank of Mom and Dad could do the same thing.

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July 02, 2012, 01:32:19 PM
 #27

Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?


LOL 2 years old bud...... My son will be 2 next month..... I don't think i'll be teaching him anything about currency for some time... Kid's just fingering out how to talk in small sentences..
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July 02, 2012, 01:35:18 PM
 #28

Watching this.... My son is only two, but need to start thinking now.

How do you educate them about fiat?


LOL 2 years old bud...... My son will be 2 next month..... I don't think i'll be teaching him anything about currency for some time... Kid's just fingering out how to talk in small sentences..

Like I said time to start thinking, not acting.

Plus I have to make sure the WAF is high or the value is very very diminished.

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July 02, 2012, 01:36:41 PM
 #29

I tried.. Gave him 5 peso's and he ate it Tongue Just kidding Smiley I figured he was smart and would invest it Smiley
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July 02, 2012, 02:22:38 PM
 #30

Lol, my parents never hit me, drank, took drugs or left me alone long... but suddenly I feel like they did a slightly bad job for not teaching me about the world earlier Smiley

I will make sure to teach mine a few things, not just BTC of course.

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July 02, 2012, 02:27:34 PM
 #31

My parents are cool, let me do a lot of stuff I shouldn;t have been able to do.. Maybe not let me. But let me get away with it Smiley


My dad's all interested in BTC now Smiley
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July 02, 2012, 04:30:23 PM
 #32

Lol, my parents never hit me, drank, took drugs or left me alone long... but suddenly I feel like they did a slightly bad job for not teaching me about the world earlier Smiley

I will make sure to teach mine a few things, not just BTC of course.

I understand. My parents always said "credit cards are bad" but never told me why.

My wife and I are going to teach our kids all about it, loans, interest, etc.

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July 03, 2012, 01:18:04 AM
 #33

I just remember it being a chore... having to teach them about counting back change, waiting for it at the counter and making sure it was right instead of getting ripped off.

now they just expect to see their balance go up every saturday morning when I pay their allowance and regretfully go down when they want something. it's a million times easier now with bitcoin because exchange rates and change are calculated for you. it's just a number to them now.

I rant about the government printing money to pay the bills and comment that it's not fair I dont get to do the same thing, but I don't think they are up to that level of conception yet. I'm expecting that to kick in in about 5 years when they start studying civics in school and hopefully we'll have another full libtard in our family by then.

Another advantage of system like this is to avoid having the kids every transactional move analysed by predators looking to mine information on the habits of our most vulnerable. Keeping the kids out of the banking system, as it it stands, is an excellent idea, in fact it is probably a moral duty of an self-respecting parent.

The kind of data that can be gleaned from the developing financial habits of the kids is probably a goldmine for the psycho-analysts ... and will probably live with the person forever, revealing their weaknesses to marketers, state-bodies, hackers and god-knows-who.


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July 03, 2012, 01:39:13 AM
 #34

Great point marcus... I also contemplated that Bitcoin for Kids is a much safer method of commerce - compared to meatspace lemonade stands - because there is no physical interaction and risk of kidnapping or molestation, etc. There really isn't even any need for them to be identified as kids at all. Parents only need to monitor for inappropriate communications.

I'd be much more at ease with my kid selling bracelets or some other home craft knicknack online with bitcoin than leaving them to sell lemonade on the corner - especially in light of recent events where cops want to arrest your kids for such vile acts in public.

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July 03, 2012, 03:19:48 AM
 #35

There is a thread here with some ideas for kid friendly BTC https://bitcointalk.org/index.php?topic=48301.msg576077#msg576077

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November 25, 2013, 07:23:20 PM
 #36

Sorry for bumping old thread, I was also thinking about same thing and did google about it.

Bitcoins is a  really good payment system for kids, you can give them pocketmoney via bitcoins, teach them, how to save and spend them.

Since bitcoins price is high, mBTC denomination is good for them.

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