Topic: Teaching my nephew about Bitcoin - page 4. (Read 986 times)

Yeah, I think it is much simpler if OP said, "save Bitcoin it will make you millionaire one day".  That is way simpler than telling him the technicalities of Bitcoin.  Some practical lectures of setting up wallet and how transfer is made will be easily understood by 11 years old kid.  I honestly don't think that there is a need to elaborate Bitcoin to the kid  too much. After all, I believe the main purpose of the lecture is to tell the kid that Bitcoin can make him millionaire one day.

I agree, what if OP start to teach financial literacy instead of that? teach him little by little. Teach him the main purposes of money, how does it works and how money keep people away to each other. By this thing we can say, he can start to save, use money wisely and then try to introduce bitcoin and other altcoin, step by step process not teach him whole thing already.

Too much information will lead to confusion, at the end if you push too much knowledge in one go, your nephew will remember nothing.  You should have told it slowly and if possible in a fun way.  I agree with the earlier reply that you should have let your nephew play games with his friends and retackle the learning when he is old enough to have a grasp of the economics and technicalities of Bitcoin.  

Although this is just my personal opinion, I would feel sorry for your nephew. Give him a ball and let him go play football with his friends.

You are doing the best you can to teach bitcoin to your nephew; hopefully, your nephew can understand the basics of bitcoin.
I think you need to explain to your nephew about the investment side of bitcoin and don't say much about trading because, at such a young age, he hasn't learned how to control his emotions while trading.
It would be better to set aside some of his money to start investing in bitcoin once he understands how to get started.
You must continue to accompany him in learning bitcoin, especially about self-control, because this is very difficult for young people.

Maybe explaining bitcoin by analogy with patterns, pictures, even objects around it will better help your nephew absorb lessons realistically, not just empty imagination. I honestly doubt that your nephew has even heard a few words of technological terms related to bitcoin.

I was also at that age, and certainly prefer things that are more relevant to real life.

^[snip]

It can be techy you know and it takes time. I think it was best for OP to teach him in a very simple way so it can be easy for him to understand and at least start the basics.

I am free from work this weekend, so I decided to make it useful. At first, I never knew what to do today to make my day fun, so I decided to do something I considered meaningful for myself, but I also wanted to hear the opinions of this community, which is why I created this thread.

There's a meet-up program carried out in my nephew's school, and as the theme of the program implies, "Catch them young." The program is carried out once every year. The purpose of the program is to identify the in-born talents of students, both children and teenagers, usually aged from 9 to 19.

From the idea of that program, I came up with the idea to teach my nephew about Bitcoin this weekend. He is just 11 years old. Last year, in the "catch them young" program, he was identified as a kid with the zest and curiosity for research. He was given piles of books to read and feed his curiosity about science and some mechanical activities taking place around his environment. 

He spends his free time reading and watching lots of science videos on YouTube. 

If I had known about Bitcoin in 2010 or 2012, I may have had more than 1 or 2 bitcoins by now, but no regrets; gradually, I will accumulate more bitcoin over time. 

Giving my nephew the privilege of knowing about Bitcoin and blockchain technology is a really interesting thing I find myself doing today. He's still young, and even if he's not going to invest now, having knowledge of blockchain technology and Bitcoin is not as bad as I thought. Often times, children grow up knowing some important things they learned when they were young. If that knowledge was really good for them, they broadened it as they grew. 

I decided to teach him.

1. What blockchain technology is and how it works

2: define bitcoin and the inventor.

3. Decentralization is important to Bitcoin investment. 

4. The disadvantage of investing wrongly without full knowledge

I just gave him some primary knowledge, just like a class he would expect to have had in school. I will love to take him through the class some more times. 







Guys, I hope I was not wrong to think this knowledge was good for his age. I hope to hear your opinions. 

Dr.Bitcoin_strange 💌

OP should've suggested him to watch some videos related to blockchain and cryptocurrency. Further if he had got interested and known well about it, OP should've briefed him. Now the program won't get effective outcome from the 11 years old guy for the much expected program Catch them young. Anyhow this is an appreciable effort.

You're not and you're doing it good and right. Little knowledge is dangerous and that's why you have to teach almost everything you know to your nephew.

At a young age, he'll be more open to the ideas about the real world and that's why it'll inspire him at least if there will be an impact of this effort you've done to him.

If there's not, that's okay because soon he will still remember the day you've taught him about it.

Guys, I hope I was not wrong to think this knowledge was good for his age. I hope to hear your opinions.