Would bitcoin help teach kids about saving? - page 14.

resty

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Quote from: Crapz23 on July 08, 2017, 03:27:48 PM

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think if teaching Bitcoin to young ones is in this way, it is much acceptable. If your goal in teaching Bitcoins to young people is for them to learn how to save, I will commend you. Teaching Bitcoin to young individual is a sensitive thing for there is money involved if they engaged themselves to it but if they engaged themselves to learn how to save it was a great help for them when they grew up.

Rebelf

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If you wish to make profit from your investment then you can market but ifyou wsh toearn mori revenue then you need to be patient. If you wish to remain much more then you'll get more profit. Because money and time help make your money.And So I think, keep your money additional time then you will get higher price of revenue. e

zhea

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Bitcoin will help a lot to teach the kids about saving specially nowadays that the technology is fast changing in this world, it is important to explain them on how to earn money for a living for us to survive by sharing them ideas on how to spend money in a wise and a very practical way, so that the kids will give more value the importance of investment and integrates their life the value of hardwork which can be paid only by giving oneself a reward of saving

dongyi17

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FRX: Ferocious Alpha

Bitcoin will help kids how to save... yes they can... but still depending on the age because Bitcoin is is not easy to explain sometimes its too complicated, too technical.. but if they are that eager and they are smart enough in computer system or internet may be they can try.. doing these I guess can be still possible with the proper guidance of an adult... they will learn how to save and invest money for their future.

rog1121

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Quote from: JL421 on November 21, 2017, 01:38:23 PM

you cant be sure with this now 1 bitcoin is really high the logic which can be applied here is we give them bitcoin as pocket money and tell them to save if they save they will understand that money is increasing if not they might just end up spending everything

Yes bitcoin will teach kids about saving their money and can also improve their concepts about trading and investment and it is more profitable for kids because maximum number of people in the world like to do their own business but some people have problem because of lack of experience about business so bitcoin will remove that problem also.

Silberman

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Quote from: greeklogos on December 03, 2017, 03:58:42 PM

Every generation of kids born more and more spenders and all our culture, economic, medicine, producing and politic makes it's effect on it. Education for children stopped to be strong and they become more relaxed with years. I also have two nephews and I don't teach them about saving, they are too young (7 and 2), but the older one started already to keep her Tooth fairy's presents Cheesy

Anyway, I am trying to be strong with them, I tech them that money is not so easy came to adult's wallet and we can't buy all those things that they want.

This is one of the biggest problems of our generation, people do not teach the values of saving they teach children it is OK to spend in whatever they want, and those kids grow to become spenders that do not know anything about money and then they find themselves being unable to support themselves despite the fact they are earning a huge amount of money.

martina14

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Bitcoin is the most wonderful example of having money to save , we can travel back in time when bitcoin is just 30 cents USD..
theres many believer that bitcoin will go to the moon and so they bought and save money (bitcoin) on a wallet and let it rest for a long time make just like (piggy bank) but look now where they are as the bitcoin grows more than thousands in the market they got millionaire now !

ashfer

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https://luxantdigitalbank.com/

It is a good thing for you to teach your kids/cousins about bitcoins they might get interested on it as there is nobody in this planet earth who doesn't want to earn profit and if you make the picture more clear about bitcoins and its market value they might show up more interest on bitcoins and will start to save money as well as try hard to earn them as you already know how to earn bitcoins so just teach them on how to earn bitcoins and they will also learn to earn money instead on spending on unwanted things.

musharaf

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Yes bitcoin will teach the kids about saving now a days if you have a cash in pocket the chances to spending is high as compared to the saving in online wallet or at bank but if we just teach kids about the advantages of saving they may work strongly in the bitcoin to become earn a good amount of bitcoin for their future. Bitcoin is very helpful for them if they mine their bitcoin now and when they become 18 years old they may use their money.

Copulative

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Quote from: BossMacko on November 21, 2017, 03:51:33 AM

I think yes, Bitcoin can teach kids about saving as long those kids doent learn to gamble then all earning or all accumulated bitcoins of the kid are just for saving or investment. Also if the kid aims to have a good future then they will try their best to save all their earnings. but this is only my opinion and if i will have a chance to teach a kid this is what i am going to teach them.

Bitcoin is a money and if we can teach about bitcoin to our kids then if future our kids can make enough profit in very less time because they will have a knowledge enough about bitcoin from school time and they can make their life stable in very low age.

JTEN18

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Quote from: MuffinMaster on December 13, 2017, 06:04:04 PM

They could get ability to be patient with money and they could learn something from "market" that in future will be good for them to just know how currency and crypto are working.

When my kids reach the age of a teenager I would introduce bitcoin into her life, I will make sure to teach them how to save/invest money or I how to earn money by simply saving their allowances. It is not to pressure them but just giving them an option and of course just to introduce them in a real word so they can open their mindset at an early age.

MuffinMaster

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Pepemo.vip

They could get ability to be patient with money and they could learn something from "market" that in future will be good for them to just know how currency and crypto are working.

Pasabm

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I think it will help them, teaching them to save at an early age is a good thing, so they get used to it when they grow up. Most of them do not understand money, and how to get it. All they can do is spend, then ask again to their parents.

shield132

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It really worths to discuss about it very seriously.
At first I would say child has to don't know about bitcoin because with searching it, you can easily found information about someone's silly posts around trading (how btc trading can make you immediately reach) or even see articles about dark webs. So I would say big no, crypto isn't for children.
Then I will say that it can't help teach kids about saving, it even does opposite job:
Imagine, currently situation is like if you hold, you get big profit. If they decide to save it as much as possible, it can make them think like I am great boy, better than you because I made money, I hold it until I'll become billionare and etc silly phrases, we know children's psychology. If child is naturally spender, it's better to give him job in adult age and don' give extra money, life will change him/her.

BlackRock

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Yes it would help kids not only with saving but also with the fact that they can save and secure their future their selves also there is a bad side because kids need to play an not focus on their future at a young age so it has bad sides and good sides.

DaftAjax

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Quote from: Pinyadrian on July 08, 2017, 08:00:48 PM

Well I think Bitcoin won't be a big help for a kid to learn to save money. Bitcoin is not a factor. A factor to kid's saving money is his control to the money. He should be wise enough on how to use the money properly. Use it for good purposes not on luxuries or desires.

Ok I'm confused here, the author of this thread should have mentioned the RANGE of the AGE of these so called KIDS. Why you ask? Its simple, if we are talking about kids that are considered in the childhood, then don't expect they will merely control the money that they've had, because in that range of age its likely that they will spend all of it in their desires, like food and kid stuff like toys or something.

Now if we are talking about KIDS that are considered in the TEENAGE bracket then, expect something in the middle. We know that teens are aggressive and they always wanted to turn to their peers. So spending money is much likely their forte. But we still can expect that some of them will have a mind about saving money and budgeting it.

BUT all in all, Bitcoin would not help any kids about saving, let's just consider the teens part, if they've receive a lump amount of money because of this cryptos, it is much likely that they will spend as much as they want, because they know that it is not that hard to earn that money. Like I've they are aggressive when it comes to their peers and stuffs.

innocent93

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Saving is rather a question of culture and education. Bitcoin offers the possibility to have serious incomes at a young age but it doesn't mean that they will start saving, it would rather spend the income from bitcoin.

sapnu

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Quote from: HabBear on July 08, 2017, 04:51:32 PM

I don't think bitcoin would be the best way to teach kids about saving, because there's not a lot of opportunity for a kid to spend the bitcoin they've acquired...when you can't spend it you must save it!

It would be better teaching on how to save to use fiat currency because part of the teaching is learning to not succumb to the temptation to spend the saved money at every toy store, movie, iOS app store, etc.

You could use bitcoin to teach them about saving for retirement, long term savings and how investments can appreciate in value over time. Just my two satoshi!

For me, kids as of now called millenials can be teached how to save using bitcoin because theyre nkw living in a hi tech world and bitcoin is a digital currency it is still money so it still good for them to save using bitcoin and because bitcoin price is too high thats why its good to save it than to spend it.

explosion

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So, you want to teach children to save traditional money on the example of cryptomoney? To me, this sounds strange. The system is different!

posoa

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Quote from: Rascar Capac on December 08, 2017, 08:54:27 PM

I'm happy with bitcoin, this is the modern era of saving money, I teach to teach for saving money in bitcoin, it's easy, just create a wallet and go to the exchanger to buy and then transfer to the bitcoin wallet then we are saving.

Yes , it will help teach Teens not kids about saving. The act of buying Bitcoin and and patiently leaving it for it to appreciates is a very good act of saving.It start with when there is money that should be for saving in the bank for a period of time, and instead of just leaving it in the bank for some months or year without a reasonable interest, it will be a good thing to introduce it to the teens that buying Bitcoin as a means of saving will be of great benefit and not only that, as it gradually appreciates, the teens should be carried along so as to see and help them to learn that saving actually by investing in Bitcoin is the best thing to do.

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