A father who thinks that his Bitcoin secret is safe

[purple_sparkles]

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?

I think it’s worth telling children about bitcoin, but this information should be presented in a general way that is understandable for a child. There is no need to tell them exactly how many bitcoins you have in your account. When children ask direct questions, it’s better to answer something like, I would really like us to have a lot of bitcoins, without giving a direct reply. This way, first, the child won’t know information they don’t need, and second, children at a young age usually respond by saying that when they grow up, they will earn a whole lot of bitcoins themselves, and then you can simply praise the child.

[EarnOnVictor]

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 will not fault any parent educating their children about Bitcoin and other cryptocurrencies, but I will fault the parent who did it halfway, and not alert the child to the impending danger of lack of secrecy. This father, in particular, we can only guess, he might just be innocent of teaching the child. The child might know of it when the wife, friends or relatives are talking about it at home, etc. And children, when they open your gadget or just see you dealing with crypto, they are smart enough to know without telling them anything.

Above all, I love to educate my children about cryptocurrency, but it is at certain ages, and I would emphasise more on the security and safety.

[Swordsoffreedom]

People will take the words of 7 year old to be very serious?

I am not sure and even if he say any bitcoin and his father got that many bitcoins for real or he was just showing off something to their kids to look like a super hero?

Teach the kid about who they can share personal details and it should be none other than the parent and sibling.

I was also going to ask this because I have young children and there are many kids in my family. I don't think I'll pay attention to or care about everything they say, let alone what the neighbor's child or a child who isn't my own says.

Kids often repeat what they see on TV or on the internet, and exaggerating things is perfectly normal. Today the children might say their dad is a superhero, tomorrow the boy might say their house is full of gold. Would anyone actually take those things seriously?

In my opinion, this is just a minor story that's been blown out of proportion, people are overcomplicating things. It's not that serious.

[Peanutswar]

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?

I guess its better to let their children do what they want and learn depends on the age bracket do they have because thats how they built themselves and learn through environment and if you are a parent at that early age I guess let you are the one who handles their bitcoin until they meet at the right age and you think you properly guide them about the bitcoin, crypto space, exchange and etc thats its essential to them to learn now the catch is are they get interested. If yes good because at that time they are aware now about investment and financial litteracy. If no let them be because its their choice now if you still has the urge to let them have a bitcoin its nothing need to worry because you can store bitcoin and let those bitcoin make an investment and they can be use in the right time as a starter.

[bakasabo]

I think parents must teach their children that they should not talk much about how much money parents have or earn, as well as about crypto. Because people can understand that information wrongly. For example I have a physical souvenir coins with BTC on it. These coins lay among glass souvenir (sightseeing places) I have brought from abroad - on a very noticeable spot. My child asked me once what these coins and i jokingly told that they are Bitcoins. I dont know where my child got info, but he knows that Bitcoin is expensive. He has asked if he can take one coin with him to school to show class mates. How others can read that information - I have bitcoins (which is already hundred thousands) laying in not secure place. Someone who knows that might plan to break in.

[imthegreat]

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?

You're absolutely right about this child potentially putting his father in danger for sharing information about his father being a major cryptocurrency investor. Therefore, this child could be kidnapped on the spot by malicious people if they learn this information. Therefore, besides the fact that this man told the child about his crypto wallet and the large balance in it, he would do well to teach this child to keep his mouth shut for his own safety.
Because kidnapping is very common these days, and criminals will have no problem obtaining ransom in cryptocurrency.

I hope he teaches his child about security.

[bubilas]

I hope he teaches his child about security.

The topic of fathers and sons, as well as their cryptocurrency earnings, is very relevant, and I liked the example of one guy who said he'll tell his children he's a cryptocurrency user, but he won't reveal his wallet balance. And when they turn 18, he'll share this information with them and give them more insight into his savings and strategy. But before they turn 18, he'll keep them pretty much out of this subject. For their own safety. After all, even after that, he's still fulfilling his father's primary mission—providing for his family's finances and, as a result, a carefree life.

[Livingleged]

I don not see anything bad in bringing up your kids with the knowledge of bitcoin. It’s the best informal education you can give to them in this era. What I see that is bad here a child jumping into a conversation of adult and even picking the main point. although he might be a child but that is sending a message to the parents that there is still work dey have to do tho the children.. to know when to talk what to say and how to say.  But there is really absolutely nothing bad in bringing up a child with the knowledge of bitcoin. Infact it is the right thing to do and it’s even part of my plan on how to raise my own kids. Imagine you were raised by parents who know about bitcoin and were already paving the way for, you could imagine how far you must have gone by now

[Ojima-ojo]

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

Its a complicated situation, kids are known to say things the way they feel and want to say it not minding whether they are wrong or right, or whether what they are saying is something they should really say or not be saying, I won't be surprised if the father is simply into crypto but doesnt have any bitcoin at all, but because he already knew what bitcoin is and that his father is into bitcoin, his little mind believes his father owns a lot of bitcoins


This i believe will be one of the disadvantages of teaching or showing kids what or which financial market we are involved in, in a country like my country where insecurity is on the high side, what that kid said is very dangerous and could put not just the father into a serious problem, but his entire family. We should be very careful with our kids coming around to learn what we do online to make money.

[CryptoVoyager24]

This is a nightmare scenario for anyone who values privacy.

The father made a critical error here: he confused "education" with "disclosure". You can teach a child what Bitcoin is without showing them your balance.
A 7-year-old is the ultimate "security leak". They don't understand that wealth puts a target on your back. Until they are old enough to understand the physical danger, they should probably think the family is just "average" or even poor. Loose lips sink ships.

[lovesmayfamilis]

You should only worry about your wallet and your own safety. We have no right to judge or lecture anyone. If your neighbor likes to show their seven-year-old how much money they have in their wallet, whether crypto or fiat, then only they can decide whether it's right or wrong. You should always respect the opinions and actions of others, provided they are adults and independent. However, no one should decide for you what to do. In short, parents are always responsible for what a seven-year-old boy might say. If children learn about anything that happens in the family, any secrets, and so on, and they naively share it with others, it's their parents' fault. Don't blame a boy for being talkative; instead, it's important to understand their age and what's appropriate to talk about with them.

[pawanjain]

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

My way would be to talk to that kid and tell him not to talk about bitcoin in public because cam create trouble for his family.
Try to come up with a story that the kid can relate to and then try explaining him why not to speak about bitcoin in public.

Teaching kids about bitcoin is not the wrong thing but we have to make sure that the kid doesn't end up telling unwanted information to others.
That is the first thing we should teach our children probably.

[Danica22]

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

My way would be to talk to that kid and tell him not to talk about bitcoin in public because cam create trouble for his family.
Try to come up with a story that the kid can relate to and then try explaining him why not to speak about bitcoin in public.

Teaching kids about bitcoin is not the wrong thing but we have to make sure that the kid doesn't end up telling unwanted information to others.
That is the first thing we should teach our children probably.

I think that approach wouldn't be effective because a 7 year-old's cognitive abilities don't allow them to understand and remember everything we tell them. Children often act on emotions and what they find interesting, or what comes to mind, rather than on logic like adults. That's why children always need adults by their side throughout their growth, from eating to daily activities, no matter how carefully you've taught and guided them.

Teaching children about Bitcoin isn't wrong, but it needs to be done at the right time and age, seven years old is not the appropriate age. At this age, children are not yet capable of keeping secrets and are not ready to learn about complex things like Bitcoin.

[iBaba]

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Showing them what you hold is wrong best could even be to avoid teaching them about crypto directly as showing them your balance might also mean same harm like telling them about crypto just like the child publicly said my dad owns some bitcoin he could also say it outside that my dad knows about bitcoin which could also make people target the dad.

Kids will continue to be kids, kids talk and repeat things even without completely understanding the consequences behind it. The real issue is why would the dad even expose sensitive information to the kid in the first place, that's the clear mistake from the dad and not the kid. Why does he have to show the child an actual wallet balance or even letting them know specific amounts.

Is he telling the child to prove a point to him or for the child to do what exactly? When you know such kinds of information can slip out in public either at school or around friends and could pose you the dad at a security danger and when something later happens, you will be like how comes did this information go out forgetting you carelessly let the info out yourself.

[LogitechMouse]

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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 don't see this as either bad or good one, but as somebody that's been involved into cryptocurrency, I might be a bias on this one, and I see it as a good at least from my perspective.

Why? I mean the kid is exposed not only about Bitcoin, but on investing in general already, and at the early age, he might be better compared to other 20's or 30's out there when it comes to investing when the time comes that he's at that age as well. He will learn more about investing, and that includes Bitcoin, and other assets as well. TBH, I don't see it as something that's "not good". I mean how harmful will it be for the son if his father exposed or at least said something with regards to Bitcoin to him?

I don't see this as harmful, but I don't think that this is the perfect approach and perfect age for a kid to be exposed not only about Bitcoin, but in investing in general. As for me though, my approach would be to teach him the basics of investing first then will teach to him different asset classes and that includes Bitcoin.

[Marykeller]

The way someone lectures someone they know about Bitcoin without revealing the amount of Bitcoin held, they can also use the same way to lecture their sons about Bitcoin at an early age, without revealing the amount of Bitcoin held. What's important is for the kid to have the right information about Bitcoin, and how to deal with it when they come of age, to invest and hodl on their own without losing their Bitcoin to scammers. That's the reason behind the teaching of Bitcoin to our kids, for them to be aware of how Bitcoin operates at a young age and be successful investors in the future

[lizarder]

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?  

There is no harm in teaching children about bitcoin because this is quite useful when they enter adulthood and at least they can prepare themselves to try to take an approach to bitcoin when they are adults. The mistake made by the parents in your story is that they told the amount of bitcoin ownership to their child and it could be a little or much more dangerous if your neighborhood is filled with crime because it could be that people will target the planned crime to blackmail the father.

If this happens, then tell your child not to talk about the number of bitcoins his father has with other people and his father should also divert the child's attention to other things so that the child will no longer talk about bitcoins to strangers he doesn't know. Slowly, children will understand that discussing Bitcoin openly and freely with other people can endanger their parents even though the child is still seven years old.

[Youngrebel]

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?

I dont think either ways is wrong as you say. Because for me I'll also tell my child and teach him about bitcoin at an early stage.  But the difference will be the age. I'll educate my child when he is more sensible and knows when to and when not to talk outside. Atleast that age when he has a little sense of responsibility.  Maybe above 10yrs. But this also depends on the individuality as well because some children are smarter than others

[Agbe]

Everything has an advantages and disadvantages. And this is one of the advantages of teaching our children bitcoin either ways bad or good it is good to teach them so that they would grow up with it and they will not learn it difficult when they have grown. We can see it here in the forum. Those adults who have not known bitcoin and only hearing the name here in the forum, have difficulty to comprehend bitcoin here. Till now bitcoin is problem to many Legendary Members in the forum so I prefer teaching them at the early age so they can understand many things when growing up. All what you have to do is to teach him advantages and the disadvantages.

[Su-asa]

If I'm to teach my child about bitcoin I will first of all know the child's character before I can tell him or her anything related to Bitcoin because by not doing these. the child can share the same informations the father has given to him with someone else, maybe while telling his or her friends, someone else might hear and think bad toward the parents, either to harm the parents and take the bitcoin or to scam the parent's. So what I'm just trying to say here is that parents should endeavor to know the character of their children before they tell them any important information.