[panarky]

What you're saying is so obviously true that it's virtually meaningless.

Of course XRP is less liquid than Google common stock and more likely to go to zero. XRP is also more likely than Google stock to increase 10x.

It's so obvious it should go without saying that some assets are more risky than others. Nobody would disagree.

If the price of your Google common stock doubles, is that not a "paper gain"? And if the price of your XRP is cut in half, is that not a "paper loss"?

All gains and losses in typical assets are "paper", so this seems to be a distinction without a difference.

[jstandard]

It sounds like you're talking about a more binary approach to categorizing wealth. It either "is paper" or "is realized". To me, not all paper is created equal.

I see assets representing wealth as a spectrum. There are shades of paper wealth that make it closer to realized wealth than others. Google stock doubling is a paper gain that is more substantial than a paper gain in XRP because Google stock has larger current utility than XRP.

Everyone has different ways of calculating utility which impact how substantial they feel a gain in a certain asset is when compared to another.

That's my theory, how do you see things?