You’re doing God’s work. Do you mind disclosing the ages of the kids that you’re teaching about Bitcoin? I also want to start teaching my own kids how to use Bitcoin, but wonder if it’s appropriate for their age.
Discussion
10/11 year olds. My own kids are 14 month, 4, 6, and 9. Instead of allowances we run an economy in our household too. They earn sats.
My kids get a lump sum at the beginning of every year from lunar new year, and they have to decide how much to save (I put the amount into bitcoin for them) and how much to keep for themselves to spend for the rest of the year. I was thinking of teaching them how to self custody their own bitcoin stack by installing Nunchuck on old phones for them. I guess it's the right age for the older 2 to learn about it.
In my classrooms and at home we use non custodial lightning wallets. We talk about layer 1 vs layer 2 and the trade offs. For small amounts and for conducting trade in our class marketplace lightning is much easier, but students are taught the risks and the not your keys not your coins mantra.
At home, my kids hold their own keys for their savings. Students and my kids are never given money, they have to earn it by creating value.
Sorry it’s early. We use custodial lightning wallets in my classroom. Need a coffee.
Yes, I was also thinking of setting up a lightning wallet for daily spending, probably Phoenix or Muun (not true lightning, but works with lightning). The Nunchuck wallet will be for savings. I'm concerned about them getting scammed out of their whole stack, so wonder if it's a good idea to make the Nunchuck wallet 2 of 2 multisig, where they hold 1 key and I hold a key with a tap signer. Yet, I want them to learn about personal responsibility, and doing the multisig seems to defeat the purpose. Still contemplating.
The money they get each year is from lunar new year, which is my culture's tradition for elders to give young kids money. They do provide a lot of value to the household, because they wash dishes, do the family's laundry, shovel snow, rake leaves, etc. and they do it all for free. I tell them they are part of this family and are expected to help out with family chores. Not sure if it's a good idea to suddenly start paying them for these things.
Awesome!