Bitcoin is about building generational wealth, and also generational bitcoiners, as the first children to be born during bitcoins existence, start to learn to read and write. If there’s one topic I think many of us feel we didn’t spend enough time on growing up, then it’s the topic of money. We were kept in the dark for so long and made many mistakes until bitcoin gave us the incentive to drive down the rabbit hole.
Once you do, many of us feel the obligation to orange pill others, and what better place to start than with your own family. If you do not teach the next generation the value of sound money, they will likely squander what you’ve worked your entire life to accumulate. This could be through reckless spending or, worse, poor key management and seeing those funds lost forever.
When you are not directly involved in the process of proof of work of stacking sats, you won’t have that anchor of real-world value, which is tough to communicate without practical examples.
Passing down wealth and knowledge
Even before bitcoin, a lack of communication and education has led to many a mismanagement of funds and put offspring at a higher risk of being taken advantage of by friends, acquaintances and even disreputable relatives. Financial disputes can quickly turn into infighting between siblings, and extended family, which turn into costly lawsuits that can tear families apart and make disputes public, as well as make lawyers and the legal system unnecessarily wealthy.
Passing down wealth is not a problem unique to bitcoin, although with bitcoin, there is an even bigger learning curve which is why it’s better to start as early as possible.
Understanding sound money requires a sound foundation
Children who run into trouble with money sometimes blame their parents for not showing them how to manage it. In fiat, the addition to custodial services means wealth management is often outsourced, this could be to family wealth offices, and other experts can teach the financial basics and arrange for education about legal rights and responsibilities, relationship management, wealth preservation, philanthropy and succession planning.
To educate their families, some wealthy people set up foundations that will help their kids learn how to manage money while also giving back to the community. Parents can also establish trust by controlling how much their children spend and when. Trusts can be set up when the parents are still alive through a living trust or included in a will, which is a testamentary trust.
These fiat wealth management methods can be applied to bitcoin, but you must expose your wealth to a third party. If you’re trying to keep your stack private as you pass it down, this might not be the best way to do it, and you’ll have to teach your kids personal responsibility and first principles.
Teaching kids how to hash it out
So, where do you start? Well, one set of bitcoiners, thought just that and decided to do something about it and launch their own children’s book with Bitcoin For Kiddos. This book tackles a BIG subject by reducing it to picture book format for children.
The illustrations in this book are engaging and detailed.
Big ideas include fiat money, abuses of fiat, bitcoin, bitcoin storage and finally, bitcoin adoption.
Aside from the story, the book features a nicely detailed glossary of terms which could be used for stand-alone discussions and deeper dives into the subject.
The plebs behind the pages
Chris and Frieda Bobay are the brains behind Bitcoin for Kiddos: The Story of Bitcoin. They’re another couple passionate about imparting knowledge into “children about money early,” so that “they will have the best opportunity to recognize it [uncorruptible money] when they see it.”
“We wanted to expose our kids early to Bitcoin and broader concepts of money early so they are more comfortable using the technology and talking about it when they are older.”
They add that:
“money for most adults is a taboo subject, but it doesn’t have to be.” Educating children about Bitcoin (and inherently, money) with books breaks down social barriers, unlocking “an incredible learning experience for the whole family.”
If you would like to learn more about the origin story behind BTC Publish and the Bitcoin for Kiddos book, check out this interview
Take your kids down the rabbit hole
Journey down the rabbit hole to discover why Bitcoin was invented. This story sparks the imagination of children and adults alike. Learn the basic concepts of the differences between money and currency and gain a better understanding of the importance of Bitcoin.
This engaging story will keep you asking questions long after the last page is read.
If you think spending a few satoshis today to help send your kids down the rabbit hole and keep them from squandering sats is the future, then you can purchase the book online via their website.
About BTC Publish
If you’d like to support BTC Publish or simply want to learn more about what they’re getting up to, check out their website or Twitter account.