How to explain ETH to my parents?

>>1689827
damn

>and they are wondering how it's doing

Its their fault for being uneducated about what they are investing in

lie lol

Good. Now you're going to learn a lesson you'll remember for the rest of your life.

>>1689827
Tell them they have invested in magic money and like magic on stage, it likes to make things dissapear. Don't forget to add a ba dum tss sound effect at the end.

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>>1689827
hacks
when did they invest lol?
also show them this

>>1689827
tell them it's volatile and bitcoin (which is digital gold) is currently doing better than their ether (which is digital oil)
it's volatile and it's early stages where it's really far away from it's real future value
also i hope you learned your lesson you stupid underage banned

>>1689827
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.*

*except when retards write bad contracts that negatively affect investors

>>1689827
You still have 10,000. Short ETH or LTC with leverage on Poloniex and you might get all your money back and then some. Other than that you could just convert it to bitcoin and wait 5 years. I've heard worse stories, like the kid that bought BTC over 1000 and sold it like at 200 or whatever.

>>1689839
THIS, BIG TIME
Also, more importantly, don't act as if you're qualified to give financial advice, when you aren't.

You're very much allowed to take risks with the money you have, no matter what, that's your money. If you're right, you can win big, both with your family and yourself. If you're wrong, you lose your own money, fine, but even worse, you have to explain to your parents what an idiot you actually are. How awkward is that, btw?

Welcome to real life, friend. Learn the lesson. Lesson: Keep it to yourself, and let someone else take the blame. Don't risk money you can't afford to lose. Don't give people advice who aren't able or willing to do their own due diligence, especially if you're not making money off of it or don't care about them. You just blew their trust COMPLETELY.

Wow. Hope it works out in the end. Sheesh.

>>1689878
Whoops, I got too negative. I mean "especially if you care about them."

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>>1689827
Blood is on your hands, you're a moron. Never give investment advices to people, that's called bullshitting. You will have to make 100% sure they understand the risks and can lose all.

>>1689827
oh by the way i literally did the exact same thing with $3000
but made it all back before they asked about it
>yea it hasn't moved much
is what i told them

>>1689883
With family, 100% isn't enough. You just don't do that. You can make suggestions, but let someone else pull the trigger. I just had my father-in-law clean my boiler today. In spite of him offering and insisting to do it for free, we forced him to take $100, as I would anybody who would have done the task, so that there is no imbalance in our relationship. You never know when a situation will arise when you need to provide no leverage. Stick with strictly business, even with family, and this would never have been a problem.

>>1689895
If the turkey tastes a little weird next Thanksgiving, and you have a decent life insurance policy, spit it out. All I've got at this point.

>>1689890
But give a lesson. That wasn't a good idea, was it? Had no gains or losses, you lucked out. Was the risk worth it? Give him something to nibble on.

>>1689827
>It's like stocks and the market for it went downhill

>>1689827
well im not exactly sure how the technical analysis for these things work but you can see that the current level it's at is a point of support, and has been for many instances, you can even see that a few months prior it broke that point of support but came right back, so you might not be completely fucked, there's a chance that it might bounce back up to either the initial buying price or might even go up to the point of resistance and you might see a nice profit. maybe, maybe not, you may be completely fucked anon

>>1689827
wtf is ethereum and why would 2 mature adults be retarded enough to give a 17 year old 20 grand to "invest"? seems like they got what they deserved. next time, spell it E...T...F... when buying from the broker

the problem is instead of investing in *the* cryptocurrency you invest in *a* altcoin. you either invest in bitcoin alone, or you invest in bitcoin + a basket of altcoins.

never go all in on something that can be replaced in a few months with something newer and shinier and with more hype around it for circa 2012-2013 profits.

>>1689827
post proofs of your ETH holdings

this is too retarded to be real

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>>1689827
lol you shoulve charged them with commission for brokering the sale and therefore you're family wouldn't be entirely losing your investment because they paid you commission

>>1689827
just think, you could've invested in btc and your family would be praising you as an investor god

altcoiners...the only people more pathetic than nocoiners

sorry bud

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You can still sell and go all in on Bitcoin. The rally has not even begun, we are going for 2k+