Note: I'm eating crow about my first reaction to the GA article. My reading comprehension was pitiful... Crypto is just one of many financial life skills they are teaching, and the list looks helpful. I didn't learn any of them from school, and my parents basically taught me the stock market was just a place to gamble and lose all your money. So I'd have been better off with the financial literacy they listed.Prahasaurus wrote: ↑Mon Apr 26, 2021 12:30 amI highly doubt there is anything relevant schools can teach kids about crypto. It reminds me of those IT classes I had in the 90's, with 50 year old professors teaching things 5 years out of date. By the time it's in a book, it's too late...txhill wrote: ↑Sun Apr 25, 2021 8:08 pmSometimes it helps to click through the link. The article says this about the bill:case_of_ennui wrote: ↑Sun Apr 25, 2021 7:50 pmThrough elementary school, middle school, high school, and college I didn't have a single course teach me about balancing a check book, what a bond is, what stocks are, the different types of savings or investments accounts, or the pitfalls of debt. But sure let's prioritize teaching HS students about crypto.Gadget wrote: ↑Sun Apr 25, 2021 3:52 pmOK, I'm pro crypto but this is ridiculous. We should be teaching kids budgeting and financial literacy well before they learn about crypto. Budgeting and saving should be first priority of life skills.make_a_better_world wrote: ↑Sun Apr 25, 2021 2:54 pm Georgia passes a bill to teach high school students about crypto
https://invezz.com/news/2021/03/12/geor ... ut-crypto/
Maybe if crypto was like the last week of a financial literacy class or something fine. But if crypto is their first exposure to finances, it seems like a path to disaster.Not quite as ridiculous in that context, especially given that a lot of the younger generation are interested in crypto. With all of the pitfalls associated with crypto (irreversible transactions, specific requirements for self-custody), it's not too crazy to spend a few days teaching them some basics about it. I mean when I was in grade school, we had a class called "Home Economics" that didn't teach ANY financial literacy and instead taught us how to do things like sew together a pillow. So this is an upgrade over that...The new program would consist of 16 new areas of financial literacy such as cryptocurrency, balancing a checking account, money management, making investments, and completing loan applications, among other traditional subjects.
Crypto is evolving so fast it's just mind boggling. And these new kids, growing up on crypto, who are trading tokenized stocks, currencies, options, derivatives, etc. like pros at 19 from their basement, are going to destroy Wall St veterans. I can't wait. Those rich guys whose daddies got them into an Ivy League school and think it was on their own merit will have no chance against what is coming.
I'm reminded of poker. Those old "pros" were laughing at the young internet kids, who grew up playing internet poker. The old pros couldn't wait to get them in live games, and then... The old "pros" got destroyed, most went bankrupt. You had 19 year olds using AI solvers competing with the old guys who thought they had a "system" or just a "feel" for the game, etc. That's nice, but math and AI wins every time, over large sample sizes.
Prahasaurus, I respectfully disagree to your point that schools can't teach ANYTHING about crypto. Think about the basics. They could learn what a blockchain is. They could learn about encryption/decryption algorithms. They could learn about split key encryption, and why protecting your seed phrase in crypto is vital to not getting scammed. They could learn about proof of work vs proof of stake on a network. Most of this is fundamental to understanding crypto, at least if you want to understand past the point of most people today who just install robinhood and hit buy dogecoin.