He's actually right and on the latter part of typically doing nothing. People will not realize that especially the new ones. They'll have to see the market cycles first before they have understood on how this market works. Aren't we telling them for so long to just simply buy and HODL? There is no need for them to clash with other trades in the market but if like the hassle, they're free to do that but save themselves with some BTC for long term keeps.

I don't understand why people are still fascinated by what that jailbird has to say. To me, he was always a shady guy, and only a lot of money saved him from keeping company with the worst criminals for the next 20 years. He didn't do anything for all of us, but for himself and a small circle of people around him, he certainly did - hundreds of billions from overpriced service fees and listing thousands of scam shitcoins is the only legacy he will ever have.

Besides, has everyone forgotten that this man promotes the use of custody services (his CEX in particular) because he believes that 99% of people will lose their coins if they store them in a non-custodial wallet? No CZ, I'm not stupid, you're stupid for thinking that way.

Well, that's for us to follow to see every time there are fluctuations. But if we'll technically look at it, we actually don't need to do anything for these holdings to increase in value.

We can't do anything about them if that is the urgency they feel about investing in Bitcoin. But we've warned them, suggested them and told at least those that have asked us on what they should do. They're on their on and believe who and what they want to believe about investing in Bitcoin.

I totally agree with CZ.

There are some persons who bought and staked altcoin in a staking protocol with the intention of making money. At the end of the staking, the token has lost its value that the yield generated from the staking plus the initial deposit becomes worthless. But by mere holding Bitcoin and practically doing nothing about it, one will be better off.

CZ is actually a genius and he knows a lot about crypto market, and whatever he said I totally agreed with him, most of the project wants to outperform BTC but they can't and if we own BTC then we already overtook the 99% of the participants. Those 4% wants to make quick money, they know with BTC only comes safe and less volatile income but with alts they can make more money because they are more volatile.

I wonder what does extraordinary efforts looks like, does that mean trading by doing some math, using AI, technical and fundamental analysis of chart, etc. etc. or more complex things to understand trading.

For most people it's unimaginable that you can make more money doing nothing than actively choosing coins to invest, following the news, moving money between exchanges, participating in airdrops and all that.

IMO the most important thing being able to make the right choice. People who identified bitcoin early as the superior coin made a shit ton of profit in a very safe way. You just had to buy and forget about it, spend your time somewhere else, for instance by being with your family. That's what I did and managed to avoid all the shitstorms in the space like failing coins, NFTs, exchange bankruptcies and all that.

That said, one in a million investors in the space made money by entering and exiting at the right time, for instance those who bought ETH very early, or those who sold airdropped shitcoins like BSV. There were moments where even bitcoiners had to make a choice because they were given things for free and could sell, or keep them.

I still think that for an early bitcoin investor the BCH fork was one of the most profitable events ever. If you owned a few bitcoins in late 2017, these were worth $3k a piece and you were able to get 1 BCH per coin, that even in May 2018 was trading at around $1.5k, so for every BTC bought in q3 2017, 6 months later you were getting 50% return on investment. If you waited until late 2018, each of those sold BCH would buy you half a bitcoin, so for every 2 bitcoin bought in 2017 you were getting one for free a year later! That's insane if you think about it now. Basically free $100k per every $3k invested in 2017 + additional $100k profit on your investment.

There will never be an opportunity like this one in our lives.

Prolly the main reason why i laugh at political leaders and their humble believers who are claiming that they are the reason why Bitcoin has gone up and will go up in the future. Without them Bitcoin has been gaining Significant rise from 2009 till date, it does not need any influence from anyone to rise over time.

No wonder the so-called trump supporters are part of the 80% who will put all their money on shitcoins only to get dumped because their leader want it so.
Ultimate goal is focus on Bitcoin, focus on long term.

It is bitter sweet to see these kind of comments as it is a very impactful comment for a man of his position to make, but also opens the question to if he knew this the entire time that he led Binance, and while Binance capitalized on listing and allowing altcoins/tokens to be listed and trade by anyone, without this fact being present during its entire growth.

I wonder how many people would still have traded shitcoins if they saw a banner at the top of the Binance website "Remember, that holding Bitcoin is the easiest way to profit from crypto" - Of course this might constitute financial advice so it's not too practical, though regardless I'm sure my point can be understood.

Exactly staying sane in this market is half the battle. The hype cycles come and go projects rise and fall but Bitcoin keeps standing tall as a true cornerstone of the crypto space. Sometime the smartest move isn’t chasing the next big thing or getting caught up in the noise it’s zooming out trusting the long-term fundamentals and letting time do the heavy lifting. It’s not flashy or exciting but it’s a whole lot better than burning out trying to time the market perfectly. Consistency and patience tend to win where speculation fails.

Some people still need altcoin to make money from crypto while we invest in Bitcoin. Many people already experienced that and when they make a profit from altcoin, they can use that profit to buy Bitcoin. Many of them make a profit in Bitcoin so that increase their Bitcoin amount and that is why they still use altcoin to increase their wealth.

But they know that Bitcoin is a long term investment so they keep their Bitcoin and use altcoin to make money. But they also use Bitcoin to make money because the gap of the price will help them to make more profit. Following what CZ said, we can buy and hold Bitcoin as our main investment and search for more profit from altcoin.

But people must be careful when choosing altcoin to make a profit because not all of altcoin will give the opportunity so they must research first.