Should the opportunities and dangers of cryptocurrency (e.g. Bitcoin) be taught to adults in the U.S. ?

Submitted by David Rosen on Wed, 10/04/2017 - 07:46
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Financial Literacy Colleagues,

Should cryptocurrency (e.g. Bitcoin) be taught to adults as part of U.S. financial literacy? It is being taught to children in Russia. See https://news.bitcoin.com/russia-cryptocurrency-financial-literacy-strategy/   What do you think?


David J. Rosen

djrosen123@gmail.com

Comments

I know the original post is dated, but cryptocurrency continues to pick up steam and I've noticed more and more willing to "take a chance" on it. Here's a good article in the USA Today that talks more about that. 

It's definitely a concept that has been hard for me to understand, yet; alone explain to somebody else I've had to do a ton of my own research to understand it.

For me, the greatest 2 ways I've learned how been:

  1. Watching YouTube videos - There are some great educators out there and others to stay away from.  The best overall channel I've found is 99 Bitcoins.  He does a good job of breaking down the basics of cryptocurrency.  Another great video that is educational and entertaining in this one by Andrei Jikh: How to Buy Bitcoin Safely. 
  2. Buying Crypto - I put off buying any and finally jumped in with a small amount a few years ago.  Turns out investing in Bitcoin, albeit a small amount, helped me understand how it and blockchain works. 

I still have a lot learn as the new cryptocurrencies are popping up what feels like every day.  But the basics and a decent understanding are essential. 

What other resources have you found?