When my kids went to work the this week on the chores they were offered a new form of payment. They had to think about it but ultimately accepted. In exchange for organizing the tupperware cupboard, wiping up some windowsills and sweeping a few hardwood floors I offered my 8 and 12 year old $10.00 worth of Ripple's XRP to be deposited into a Toast wallet. I explained the risks and the rewards, and of course, the option to cash out at anytime through the bank of dad. They said if they see a .03 cent gain they are out. I should probably have followed their investment tactics some time back.
One of my primary reasons for investing in the crypto market has less to do with which coin is going to be king and more to do with a vision for the future. So without entering the heated debate of which token will be accepted as the digital currency for mainstream society someday, let's instead agree that we all have a common vision. That vision might look like a world without checks, credit cards and cold hard cash, or, a lot less of it. Such a world might have pros and cons but it seems like a natural technological progression and perhaps wise investment.
It then dawned on me that by paying my kids with crypto it becomes a social norm for a much younger generation. Discussions will take place with friends at school, then they are learning about it online, mining it and using it. All from a generation who may never know that a check or money order ever existed. I guess I'm either part of the problem or part of the solution. I like to think that my kids will be both responsible adults who complete the chores of life while wisely investing along the way.
Thoughts?
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