Topic: Is age a limitation in Bitcoin - page 4. (Read 1725 times)

Traditional banking has lots of requirements and the interview is too long for a basic account to be created if you are strange, they limit your account and tell you that they monitor it well whenever you put some huge amount inside your account. it happened to one of my friends, he got lots of money from Bounty and he needed a bank account but sadly he didn't get any approval from the bank because he lacked documentation and for them he was suspicious, he ended up using his brother account instead to get to cashout his rewards.

Anyone can invest in bitcoin irrespective of their age, as long as they know what they are doing and would accept responsibility for anything that occurs when they are investing, you know there are lots of thigns one needs to consider when investing in bitcoin, like ; emergency funds, reserves and having a good cashflow/money management, why I brought this into light is cause this can affect how successful someone would be in his investment and how much he would accumulate in bitcoin, you know holding bitcoin for a long term gives more advantage than any short term practice or trading, so I'll make my points in such terms.

The function of the emergency funds would be to ensure that  s/he don't sell of their holdings at a very short time prior to when they had wanted to sell, and the question is can a very young person be able to afford this and how or what means would he use to counter for this. Cause we can't assume that if if this kid really wants something and he doesn't want to tell his parents about it his first option wouldn't be to sell some bitcoin to buy that stuff, so yeah if s/he can account for this then he is good to go.

Now about cashflow, anyone who wants more bitcoin must invest more or buy more, there are no two ways about that and the question is how often does he have cash to invest in bitcoin, while this could be irrelevant for an underage person who maybe has some extra cash and wants to hide it somewhere or maybe just thinks it wise to safe in bitcoin, he also needs to be able to properly allocate his funds in other not to choke himself up too soon and end up feeling overly allocated and sell some bitcoin.

So yeah a lot to consider, anyone can invest in bitcoin as long as he is ready to accept the responsibility to do the needful.

When children in the under age get all the advanced devices, and they start using it, they become much smarter than their age. As a result, children get overconfident so that they are more influenced in the wrong direction. Because age brings maturity to people, even though they have smart brains, they cannot identify cheaters easily because they think everything is normal. So along with making children smart, they need to be warned to keep themselves away from frauds.

This is what doesn't make cryptocurrencies suitable for people at young ages, especially if they are under 18 or aren't mature enough to understand complex things and are responsible enough to take good care of the privacy and security of their funds if they have any. Young people mostly don't care much about things they own, be it money or anything in general. It's their elders who manage and maintain everything until they reach an age where they start becoming responsible and managing everything themselves.

So if a child manages to buy some Bitcoin at the age of 16 or below after understanding it very well, I doubt they will be able to manage their funds in a good way unless they have matured at a small age and they don't like playing, enjoying themselves, and doing any other stuff that children do and not remembering much about things because if they have such habits, they wouldn't be able to manage it well, they wouldn't even be able to understand the concept if they are like this.

Yes there is no age limit on BTC but the way I see the system I don't think they need put age limit because most if the exchange KYC is already doing the work just my Nation for you to get national voters card which they use as ID card you must be up to 18 years and above and this are requirement of many exchange.

Any person with the age of accountability can have access to BTC reason that you can account for what your doing, not withstanding in relation to knowledge sharing age is nothing as knowledge can come anyone irrespective of age.

we cannot equate bitcoin with traditional banking because they are fundamentally different. bitcoin was designed from the beginning to become a global financial system, decentralized, and accessible to everyone. because it is decentralized, it means there is no central authority regulating it and setting age limits for anyone who wants to use bitcoin for their needs. so if you're 11 years old, you can use bitcoin, because all that's required is your knowledge of bitcoin. the only problem is when using centralized exchanges, since one needs KYC for verification, to overcome this they can use p2p.

This is one of the remarkable aspects of Bitcoin, its accessibility regardless of age. This is very different from traditional banking systems that have age restrictions and various processes. The decentralized nature of Bitcoin empowers individuals of all ages to participate in the digital economy without barriers, and the privacy aspect is another significant benefit, giving users control over finances without constant scrutiny. Users should be educated about the risks and responsibilities associated with managing wallets, such as security and private key management.

Getting involved in cryptocurrency isn't deal with age at all.  I know that there will be a lot of people out there that bought Bitcoin years back and name it after there kids just  like one can buy land and keep for future of that child. Nevertheless, one can acquire cryptocurrency as much as he/she has knowledge about it.

There is no age limit, what is needed for bitcoin is courage and also understanding the work system or work process, so here it is clear that you must be able to analyze the market and like to read about every development in the world of cryptocurrency, many children as young as fifteen already have bitcoin assets. abundant and also parents who are sixty years old are still enthusiastic about working to get more profits from bitcoin, all need hard work and smart work, everyone will be successful in the world of bitcoin

In the current era, what is needed is skill and mastery of technology, especially Bitcoin, everyone can now join in investing in Bitcoin, there is no age limit in this case, even now the average young person is starting to work day and night in front of a laptop to earn more. from bitcoin, there are also older people investing through bitcoin trading and creating small groups as discussion and information sharing material, so it can be concluded that in the crypto world, people are needed who want to, not smart people, people who want to still have a desire. To be able to do it, while smart people think they are smart, it's hard to join.

I totally agree with you because nowadays it's as if some children are born with technology in their brain, you will see a child of 7-9 years operating computer and running codes like it's nothing ( I mean very easy). But one thing is paramount, under age will always be under age no matter what because they are yet to experience things, despite the fact that they are smart their brain is yet to be matured that's why they easily fall victim of fraud online because they are easily convinced and carried away by what they hear and see.

In my point of view, I think there is a minimum age requirement but  no limit after the minimum age. because saying it has no age limit that is to say that even a 3 to 4 five years old can participate in bitcoin activities. In as much as bitcoin is concerned only educated and smart ones can do it. Because the youth of now are very smart and vibrant I even see some parents sending there children to learn coding and programming and they might do well and they are the newer generation. They should be In a better position to even know more about bitcoin because bitcoin has been the talk of the day. The future and the present

Yea people must not be 16 years to start Bitcoin journey like bank, but it is important we know the age to start with. Because if kid dont have age difference it will affect them because theyight get confuse in the technical and mathematical aspect of it, except for those leaned ones .

Yes, in as much as there are no age limitations in Bitcoin the truth must surely be told, irrespective of the fact that age could be just a number as people may popular say while maturity is about owing and taken responsibility for your actions, maturity also  comes with a certain sense of good  reasoning, yes there are kids that are smarter than there peers or even smarter than older peers, under 18 should be properly quided in order to minimize the risk of being vulnerable and prone to be scammed, Bitcoin has really offered a lot which includes enabling borderless transactions, offering protection against inflation, preserving privacy and creating investment opportunities without the interference of government or  banks. Generally Bitcoin has given us a financial freedom.

Yes, the average requirement for someone to be able to open a bank account must be 16 years or older. Even in the country where I live, the age requirement to be able to create a bank account is 17 years. As far as I know, this rule is enforced because when creating a bank account there is an agreement that must be fully understood by the customer. So the bank considers that someone under 17 years of age does not have the right to create a bank account.

But bitcoin is very different from the banking system. In Bitcoin, anyone with the technology (phone, laptop, or computer) can create a wallet. This makes bitcoin a very friendly asset for all ages. Plus, as you say, if we owned bitcoin, no one would question where the money we got to buy it came from. So this bitcoin system is very good and probably almost perfect. Because apart from the aspect of not having an age limit, Bitcoin also has advantages in other aspects, such as

• Our privacy is well maintained.
• Ease of carrying the treasures we have wherever we go.
• The value or price continues to increase every cycle (4 years).

So with all these advantages, maybe in the future Bitcoin will be the most popular choice for many people (Investment assets).

When you are creating account in bank in my country, you will have to be 18+ before you can create account, if you are too young, then you won’t be allowed to create bank account, and you will have to submit different documents which will show that you are really above 18 years of age. But when you Are creating a wallet, no document is need before you can create account, so no matter the age which you are, you can buy and hold bitcoin, nobody is too young to invest in bitcoin, and nobody is too old to invest in bitcoin, everyone is free to invest in bitcoin whenever they want, age shouldn’t be an excuse for you not to invest.

You know, a kid who is not yet 18 years old who no longer goes to school but only works in a clothing store recently surprised me. He asked me about bitcoin and what its future potential is after the halving, he was serious about his question before I answered with a question; where did you know about bitcoin?

This is proof that age, work background, educational background will not limit someone from knowing about bitcoin. Relationships and circle of friends as well as several other things can possibly influence someone to get to know Bitcoin more quickly than other children their age. This is clearly one of the real examples that I have encountered myself, so there are no restrictions regarding age, education, occupation, ethnicity, gender and so on in bitcoin.

It's true that Bitcoin is open to all, like there are no age limitations; there is only knowledge and understanding, but I think being above 18 is necessary, not obligated but necessary because in the Crypto market experience is one of the dominant factors. For those who cannot gain children, time is required for experience when they do not gain experience at a young age. That's why, you see, the big exchanges have made KYC mandatory to transact on the exchange because they know that under-18s have no self-determination power, and the reason is that these people don't have experience and knowledge. Of course, but knowledge also works when there is experience. So if you do financial strategy at the request of others, then you can lose yours. So self decision power is required in the crypto industry.
 
Now if you say that many young children have made a profit by investing in Bitcoin. So the answer is that long term investment is a different thing. For this, understanding the dynamics of the market or having knowledge/experience is not required. It can be followed by just hearsay. But the fact is that financial strategy has to be understood. Meaning, if your idea is to invest in Bitcoin, then which strategy should you follow, when, and which time will be better? So, many people, including me, think that at least 18 would be better because an 18+ person has stronger self-determination than a child.
DYOR!

This means that the bank in your country also does not set an age limit for children who want to become their own customers when it comes to opening an account book. Even though a child's parents do not give him the freedom to use the account book before he turns 18, this is also quite possible considering that the child must grow into a more mature way of thinking. But regarding Bitcoin, I think for parents who want to convey Bitcoin knowledge to their children, it can also be started before their child turns 18, even if only with a gradual explanation that can ultimately be applied by their own child when they are truly ready.

When Satishi writes in his whitepaper that Bitcoin is censorship resistance, these are the part of what that phrase entails. Bitcoin is open to everyone irrespective of the gender, the tribe, the race, the ethnicity or even country, nobody has any power over it because it's open for every one, not even in the absence of internet can stop Bitcoin use because there are many alternatives that Bitcoin can be access and used.

Age is not a problem when it comes to using of Bitcoin but I think on a personal opinion, children exposure should be limited when it comes to use of Bitcoin, the parent can set up the wallet for them if they want to and help them be the holder and hand over to them when they have come of age, they can also educate them on Bitcoin technology but do not let them get early exposure, there are some important things that are important about life they may skip if they have early access to Bitcoin.

It's so true that Bitcoin is for everybody even you are young or old. It really doesn't matter if you are older than a certain age. Everyone can Use a wallet or have bitcoin if they just have an understanding of how things work Around bitcoin, that's it. There is no restriction on any kind