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RE: Just Tried to explain Steem to parents
Do this @bigram13 Ask her where the money comes from when she uses her Credit Card.
Then tell her "Credit Cards ~ They are kinda like a stock, nothing really behind them, just people accepting it for having value." lol
ya pretty close, Most stocks if the company would go under. would get nothing. All the bond holders and creditors have first crack at the assests.
Ya exactly ~ with cryptocurrency's like Steem, BTC, LTC if you hold your private keys in my opinion way better then Gold/Silver/ and Stocks which are very hard to liquidate or spend more of a (hard asset store of value)...
I have avoid (ico's and altcoins) these are more like funding businesses without any proof of concept- reminds me of the 90's with the Dotcom frenzy when any idea was an IPO... lol