How do I explain to my dumb boomer parents that their dumb boomer stock isn't actually worth real money and that just because the price went up like 500% they aren't actually millionaires like those of us with real crypto wallets?
>>528044676Cyanide maybe. Dunno.
>>528044676Looks like the apple doesn't fall far from the tree
>>528044676You are correct, partially. Their holdings are not worth money, unless they are receiving some form of dividend or they exercise a sale. However, that's also true for your fake money (crypto). Guessing this is engagement bait thoughbeit.
>>528044730>>528045305>>528044863What I mean is that if something goes from 60 dollars to 600 dollars in a year there's a good chance it's just as likely to go from 600 dollars to 30 dollars next year.
>>528044676Both can be exchanged for dollars and then any other currency or physical good you like, just the same, right now. If not trolling, you are an idiot.
>>528044676tell them that speculative value don't bring a dime untill they actually selldividends are another thing, it's a leftover of the past stock exchange system where you were supposed to invest capital in a company and have dividends in return, it was not mean to be resold depending on speculation for profitthis was capitalism, what we're living isn't it
>>528045503No, it isnt. Especially if the buy a broad index like VTI - the worst its ever done is something like -10%, which is far less volatile than BTC. You're arguing that BTC is more stable than one single stock (can be true for many stocks, arguably not for some large and low beta ones); but I can correctly argue that VTI is far more stable than BTC.
>>528045715The drop in BTC just these few weeks is a almost as bad as the worldwide financial panic of 2008 - it's just that BTC is far less important that most normal people and businesses didnt care.
>>528045715Uh, have you ever heard of Gamestop?
>>528045503You can cash out a stock in an instant, your crypto wallet is a hostage
>>528044676>like those of us with real crypto wallets?
