We can be CZ

[davis196]

Sorry for the clickbait guys, just wanted to get your attention, especially those who keep trying to overcomplicate things just to be profitable with their investments. I just came across this post while doing my usual Facebook scroll and thought it was worth sharing.

HOLD really is still the best strategy. (according to CZ).

I'm a businessman, not a trader.  how about you?

We can be like CZ? Are you serious? CZ claims that he is a developer and he builds systems. 99% of the Bitcoiners aren't developers.
CZ is probably a billionaire. I don't know about many Bitcoiners/crypto bros, who are billionaires. HODL is the best long term strategy, but is it the best strategy in a bearish market? Most likely not. The best strategy is to sell, when the price goes down and not buy later, when the price is lower. CZ is a rich guy, he can afford to HODL, but what about some middle class dude, who puts all his life savings into Bitcoin and the BTC price drops? Is he going to HODL until the end? I don't think so. There's no "one size fits all" type of financial advice.

[Alpha Marine]

No! CZ is that guy that was arrested for money laundering and pleaded guilty, paid $4bn to settle the case. Now looking for ways to make more money.

Ever since he came back from prison, he has been bull posting nonsense on X liquidating investors bags. He will shill a coin today, hide under Bitcoin with some motivational quotes. Bitcoin this and that.

Just a business man that want to be at the top of the game.

What you said may be true. I actually have the same opinion as you, but does that make what he said false? Everything he said is true. It is easier to hold BTC than to be a trader. Not only is trading a skill, but it's also a risky skill that you can lose money on. If you're not careful, you can lose more than you make. While with Holding, all things being constant (you don't lose it or get scammed), as long as you are patient and hold, you will get back what you lost.

The fact that a person was convicted of a crime doesn't mean everything he said is false. It is our job to be objective and know the motives of people. CZ might have different motives for his quotes and all, but that doesn't mean what he said is wrong. Being an ex-convict doesn't mean that nothing you say can be true.

We can be like CZ? Are you serious? CZ claims that he is a developer and he builds systems. 99% of the Bitcoiners aren't developers.

Are you puropsing missing the point or yuure just being sarcastic? Do you need to be a developer before you hold? He is simply saying, he is a developer and not a trader, so he cannot trade.

[Charles-Tim]

We can be like CZ? Are you serious? CZ claims that he is a developer and he builds systems. 99% of the Bitcoiners aren't developers.
CZ is probably a billionaire.

You did not understand what he is implying, he is not telling anyone to be a developer, what he is implying is that people should be focusing more on where they are very skilled at than thinking of trading. Most people today just want to trade, but most of them are losing just because they want to make money in trading.

[Die_empty]

No! CZ is that guy that was arrested for money laundering and pleaded guilty, paid $4bn to settle the case. Now looking for ways to make more money.

Ever since he came back from prison, he has been bull posting nonsense on X liquidating investors bags. He will shill a coin today, hide under Bitcoin with some motivational quotes. Bitcoin this and that.

Just a business man that want to be at the top of the game.

It's a shame that some traders still rely on comments or speculations from people like CZ and others to make predictions. Many of them do this for personal gain. At this time when information is just a click away, people are still depending on someone like CZ for facts. Newbies might be excused from this fault, experienced crypto investors should know more.

However, what CZ said is true, that's also what I do. I don't have an interest in trading, hodling Bitcoin is my only option. My landlord told me that he lost about $7000 last year in crypto investments. I now understand why he lost when he said he owns more than 70 coins.

[shield132]

I understand why he holds Bitcoin but why does he hold BNB? Oh, wait, BNB is a shitcoin created by CZ and he has been making millions of dollars from that coin because he owns the platform (not CEO right now but informally he can be in charge of many things). He can pump and dump BNB to make money. The reason why he states only Bitcoin and BNB is that he wants to make BNB shine as Bitcoin shines. Otherwise, he would mention Eth and other worthy altcoins. His statement is a populistic statement. The guy owns the biggest trading platform and says he doesn't trade because he will lose money? Yeah. Of course, he doesn't manipulate the futures market to liquidate customers, that's probably just a rumor.

[betswift]

I understand why he holds Bitcoin but why does he hold BNB? Oh, wait, BNB is a shitcoin created by CZ and he has been making millions of dollars from that coin because he owns the platform (not CEO right now but informally he can be in charge of many things). He can pump and dump BNB to make money. The reason why he states only Bitcoin and BNB is that he wants to make BNB shine as Bitcoin shines. Otherwise, he would mention Eth and other worthy altcoins. His statement is a populistic statement. The guy owns the biggest trading platform and says he doesn't trade because he will lose money? Yeah. Of course, he doesn't manipulate the futures market to liquidate customers, that's probably just a rumor.

Any big fella would do the same, if not worse, on his socials.

But I agree and digress - he could of mention much more in his statements, yet he went for the option that's the best for him

[purple_sparkles]

I share the accumulation strategy and I believe it makes sense. I can’t trade actively or frequently, I feel like I lack the necessary skills and knowledge for that. I also consider trading to be very stressful, and I don’t think this type of activity suits me. The option of gradually accumulating bitcoin feels much closer to me.You should focus on work that brings you joy, that you are good at, and that people are willing to pay you for.I think this is exactly what CZ meant.

[Pablo-wood]

I don't want to know how true CZ's words I will rather take the positive side of his statement and do away with his personality. 20 years of hold is quite lucrative but it requires having a steady source of income to avoid being tempted to sell some of the bitcoin we hold due to urgent needs that could arise from the blues. All I see about CZ statement is just to promote the accumulation strategy which is just the only way to build a future we have always dreamt of

[_act_]

With 2x leverage, your position will be liquidated when price changes around 50% to 55% opposite to your position, that's it and in cryptocurrency market, a quick drop of 50% or 55% is not too barely seen.

He was referring to good coins like bitcoin and ethereum at the time. Those shit coins can easily increase 10 times and fall back 10 times. I have seen coins that increased 5 times in just few hours and I have seen some that drop so much within just few hours. I do not see those coins as trading but as gambling.

Unfortunately, leverage enthusiasts don't satisfy with 2x leverage and they would prefer to use higher ones like 3x, 4x, 5x, 10x, 25x, 50x or even higher. Hence, with most leverage enthusiasts, they fail to control their greediness, action and used leverage at beginning while what will happen with their position depends on the market manipulation and centralized exchange works against users.

Most of time, over leveraged users will be liquidated and lose most of their initial money.

People like James Wynn that was using 40x. Leverage is what that mostly makes trading to be very risky.

[john_egbert]

I don't want to know how true CZ's words I will rather take the positive side of his statement and do away with his personality. 20 years of hold is quite lucrative but it requires having a steady source of income to avoid being tempted to sell some of the bitcoin we hold due to urgent needs that could arise from the blues. All I see about CZ statement is just to promote the accumulation strategy which is just the only way to build a future we have always dreamt of

He could something regarding accumulation through a reliable source of income, yet, of course, that's not the case.

He has all the funds to make it happen.

We need to work hard to even start doing it

[Maus0728]

I guess some of us have to experience that loss first so we can finally realize that trading isn't for us anymore. There's also some other benefits with hodling only too, less stress and if you have the mindset to only sell when you're near or at your price goal then you wouldn't worry too much when the price dips so bad that it's causing panic on others in the market. I don't like the idea that we frame CZ as the model for this type of market behavior though as this kind of hodl mentality has been around for awhile now and even before CZ became famous, people have been doing it already.

[Furious 7]

I applied this scheme for the last few years even though at the beginning I did the same thing but the focus was still divided when choosing some projects that I invested in so I tried a lot of junk projects especially when the NFT hype or even some that carried the theme of play to earn like some games that were busy a few years ago, but for now (since the last few years) after I saw no improvement whatsoever I felt then my focus is now only one and of course bitcoin is the most worth it thing I have done until now.

I realize that there will probably be many people who say I'm quite naive and waste a few years but on the one hand I'm quite grateful because even though there are always words “it's too late to be in bitcoin” but instead I feel this is the right time for myself to be in bitcoin because with me trying so many projects before that it makes me not feel curious anymore and not hesitant to be in bitcoin because I know hype alone is not enough to make beautiful things happen in the future.

[john_egbert]

I guess some of us have to experience that loss first so we can finally realize that trading isn't for us anymore. There's also some other benefits with hodling only too, less stress and if you have the mindset to only sell when you're near or at your price goal then you wouldn't worry too much when the price dips so bad that it's causing panic on others in the market. I don't like the idea that we frame CZ as the model for this type of market behavior though as this kind of hodl mentality has been around for awhile now and even before CZ became famous, people have been doing it already.

We don't need to frame him as the model.

He is simply another KOLer inside his own info bubble.

Which can be burst and seen for what it really is - he tells what he wants to because he can.

Sure, he can tell many stories or ideas - but as he said, he is a businessman, and the final goal is either traction or profit.