Whaletank Hangout #231 RSVP - Teaching Your Kids About Finances Using Steem

This is my official RSVP to Whaletank Hangout #231.

In my previous post, I shared with you one of my hopes of teaching my kids about finances.

In this post, I share with you my updates, my struggles, and my plans.

1. Updates

1. Looked into Bitshares paper wallets - to give kids something tangible
   • Don't know how to use them
2. Used BeyondBits to upvote a post (used part of the rewards to open children's account)
   • DEX block
   • Voted post
   • Needed 0.2 SBD and 27 SP (delegated SP) to open the account
3. Created account for Summer (@nathalie13)
   • Learned how to open an account using SteemConnect
   • Steps followed in Advanced Instructions - Setup the account using delegated SP by @timcliff
4. Initially delegated 27 SP to account
   • Learned that delegated SP to created accounts takes 30 days to cool down (return to your account); I thought this was only 7-days (learned from steem chat #help channel by @timcliff author of the above instructions)

2. Challenges

1. Getting my kids to post in Steemit
   • They are not that familiar with the platform (need to teach / guide them through it)
2. Teaching them how to use Steemit or any other UI.
3. Paper Wallets - how to generate and print them as tangible rewards; and make children use it; will postpone or defer for now until the need of it arises;

3. Plans

Lesson that came to mind in taking actions is something about electric current - "path of least resistance"¹:

Contrary to popular belief, electricity takes all paths available in inverse proportion to the impedance of the paths. The magnitude of the current flowing in a path depends on the path's voltage and impedance. The lower the impedance (assuming voltage remains constant), the greater the current. Conversely, the higher the impedance (assuming voltage remains constant), the lower the current.

1. Make their first post
   • I'm skipping the introductory post
   • Perhaps a video?
   • Hobby post (e.g. them playing an instrument)
2. Create a post for them (last resort)
   • They should be independent
3. Create an account for Rain
   • Remaining BeyondBits used on this post; Rewards to be used to create account
4. Creation of ChainBB forum (moderated content)
5. Fork utopian.io to build a new UI for moderated content

4. Footnotes

¹: The Path of Least Resistance

Image Sources: [1]