There are also traders to wherever exchange they preferred to trade. Could be anywhere and they're actively trading top coin.
I was a day trader back in the days around year 2018-2019, although not rich like the OP mentioned, I can relate to some points in here aside from just "holding a Bitcoin".

In the harsh side, there could have been possibly a holder of Bitcoin that got locked out of their wallet as they did not remember their private key along with their password. I can hear the regrets.

I thought I was the only one thinking that until I found your reply. You know it is something around fishing merits or trying too hard when users are overcomplicating simple stuffs in the forum. I thought these merit attempt posts were over, lol. It reminded me those merit-related threads in Meta back in 2018.

I can imagine if this was Facebook and the OP was talking about Peter-Sparrow Reaction story.

I am not sure about the altcoins though, since topic related to them are pretty much created to various article sites out there like Medium and Reddit. Bounties could count as a "benefit", but surely many of those bounties are now crap anyways and just desperate for a spotlight in social media along with their annoying hashtags. This forum is not an earning platform by the way. I hope that newbies would see that earlier and not make this forum as their "primary" source of income as it surely will disappoint them in the end.

It is a forum in the end and forum offers users in the internet to have a discussion/debate in a thread. That's it.

This was what I was feeling to the thread as well.
Surely users are already doing what the OP mentioned subconsciously. It is like how one should effectively eat his/her food and how should s/he chew.

@OP No offense to the OP, but I feel like there is no point of discussing on how people should post. It is either you respond to a thread, respond/reply to other users replying to the thread or do not respond at all.  That is pretty much the "tldr" of the thread. Appreciate your writing though.

Still people have the choice and we're not entirely able to convince people to go and use Bitcoin or any forms of cryptocurrency. It could be used a lot in the future, but considering that not all human being uses credit/debit card for their own reasoning, there would still be people that are going to stick to fiat regardless. It is just the way it is. Just like phones, there are still people willing to use those old keypads even if majority is now on touch screen as it already solves their need and they could not ask for more.

This is usually the case most of the time with the exception of stablecoins of course.
From the perspective of investor like me back in the days, I usually sell my Bitcoin and altcoin concurrently whenever I get the earnings that I needed. I usually move these two holdings around whenever I need to, though I do not really trade actively until late 2018-2019.

Got more losses in alts than Bitcoin if you're going to ask me.

This seems like a generic situation and not just crypto-related so I would just put my input even if it is not a crypto-related stuff.
I was traumatized back in May this year when I just attempted to buy my long dreamed GPU through Facebook and the scammer I talked to was vouched by plenty of people so it would seem legitimate. I took the bite and got scammed for amount of $200+.

Social media sites has been plagued by these scums already and they would not hesitate to adapt to how much you try to bust their scams and of course support of these social media site would do little to no help because their users are the customers in the end anyway. My trust for the Facebook groups/marketplace has been damaged beyond repair, so if I would have to involve money if it is crypto-related or not, I would stay away from social media.

Back then, faucets were really worth the claim. I had couple of conversation from some users in different boards about their experience with faucets w/o referrals back before I bought my first Bitcoin (pre-2017). Right now, they were pretty much waste of time and I can recall my experience not having to even claim my 10k sats since I usually only get 10-100 per 5 minutes and doing rotation in between faucets are so tedious that I did not even try to reach the minimum in order to do a withdrawal.

Gotta love those days if I just discovered crypto earlier.

I read those "horror stories" around Reddit though it usually is not crypto-related, but you'll see it there usually in r/personalfinance.

Jeez I can imagine a lot of gaslighting and upbraiding like "I helped your father, brother, sister out of poverty and you should be grateful for that in the first place and I even fed your pet goldfish" and you are left with no choice but to do as they say especially when they are just residing near your area. It feels being trapped to something you did not even asked for.

I also appreciate you sharing your experience in your previous reply by the way.

I have not heard nor read about these companies holding that large amount of Bitcoins, not gonna lie. I thought that these companies especially Coinbase would hold various amounts of large cryptocurrency. I am also curious to some popular companies like Amazon, Microsoft, and Apple on how much crypto are they holding right now considering that Microsoft even allowed Bitcoin payments back in the day (though I am not sure if they are still allowing it to this day). I would not be surprised if there are unreported popular companies that are obviously a "whale".

Thanks for the source by the way! I have not read anything crypto-related around Reddit for a while now.

Namaste, OP.
You've been trading since 2017? You must have been through a lot of bearish market after that year especially that I can still remember when Bitcoin plummeted that year around 4k-5k and it was like a memorable experience for me in the bearish market. Curious to what you mean by forex "rollercoaster". Did you mean by these so called "volatile market"?
I am quite confused to what you meant by you earned fortune but still lost everything? Since you are also asking for trading knowledge, you might as well move this topic to Trading Discussion section.

I wish you still the best at the end, OP.

This is why you go first for Bitcoin and think about altcoins later on, since there are way plenty of altcoins out there that just don't survive the bear market. They are what you see called "shitcoins".
Those people that you're talking about are surely short-term holders and usually some. if not most of them, are just purely driven by hypes and those coins do not have utility at all. You would hear meme coins a lot in this section and I am pretty sure that you are not in crypto for memes anyway.

If you're into altcoins, just go to CMC and trade the top coins. It ain't worth risking your first investment/capital for such shitcoin that are way below top 10.

I mean from the definition of it already.
Surely if you hand it out to some random strangers that promise you anything, the chances are surely not zero.  Technology is not perfect and as long as it is programmed and developed by someone, there's always possible vulnerabilities that would screw the device around. That is why even in the most established devices out there there are always going to be software updates even though people just overlook that kind stuff quite often and it is saddening.

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Source: Definition of cold wallet

Back in my high school, no one taught anything about handling of money until I took Business and Management Strand in my Senior Level. Knowing that some schools and some individuals are taking step forward to teach their students/people pertaining anything crypto and the blockchain, surely we are now stepping away from that kind of mindset of a "typical human mind".

Ironically a schoolmate of mine during those years, introduced me roughly to crypto without any definition. It is just that "yo look into Bitcoin, trust me it is not anything illegal or something you should be worried about once you get it".

If you can't be bothered by all these warnings that you should not be into meme coins if you are indeed committed to long-term investment then just go for Doge. I hate it when I say that, but it seems like there is nothing that stops people from investing in these meme coins in the long-term.
I have not looked into Baby Doge since Doge already exists anyway, so I am not sure what these two are different from each other.

If you are going still for the long-term, go with BTC or ETH. It is still worth it in the end.

You do not need to be so social at conference. I am an introvert and even though I do not feel comfortable in groups, I still enjoy attending something that I am interested.
It should be an experience for you, OP. If you have other higher priorities at the moment, it might not be worth it at all so just go for it if you indeed have plenty of spare time.
You might be able to learn a thing or two in that conference since it is group discussion anyway.

I would be looking forward to attend one someday and I wish I could be luckier in schedule, so go for it if you can, OP.

That is pretty much understandable considering that you had related personal experience with it. Surely when a large amount of money arrives and one has a debt, it should be expected that repayment of the debt should be next. I would somehow react the same way regardless especially if we are talking about large amounts in here.
I would be hella mad to my relatives for such decision like that. Good thing that he did not ask you to pay at his own end in that scenario, since I heard some horror stories of relatives wanting their close ones to pay their debt in exchange of something of "sentimental value" they though.

I see in your profile that you are 19 y/o. You could be qualified to some freelance platforms like Upwork which according to their ToS that you might need to be at least 18.  I would advise you to fix your writing first, OP since that kind of writing ain't going to budge the first place in freelance platforms which is the approval of profile.

Skills that are in-demand in that platform as of writing this were mostly web dev which is also my niche since every business owners out there are always looking for someone to build website for their businesses. If you are really desperate to earn quickly, you could go for data entry, but it is extremely saturated and highly competitive and it might take a while for you to land your first job there.

This was a discussion back in 2017-2018 and yet it is still being discussed til this day, lol. The coin that you're describing in the OP surely does not have utility at all that is why that it still has a peak of value and due to lack of reasoning to invest to that coin, it just go down easily to zero. Like Upgrade00 mentioned, it surely is a shitcoin and the way that you're describing the possibility, that is how shitcoin behaves by default. Meme coins could be another example but due to almost undying hype around it, it just does not die at all unlike those shitcoin in the market.

What would happen if it happens? Surely everyone would just stop buying and before it goes down to zero it surely is going to have a lot of selling pressure.

It is not going to happen. Bitcoin going down to zero is just another sentence to be added as another entry in Bitcoin Obituaries obviously. People keep spreading FUDs for good.

Same thoughts, KingsDen. It feels good to at least not having the liability to pay someone. Knowing that all your net profit is all yours and nothing will go to payment of your debt.
This thought of mine came from when I usually pay my bills monthly and I admit that I feel sometimes unsatisfied knowing that a portion of my earnings would go to payment of bills, but hey I would not be able to work if I did not pay my usual monthly dues.

Going back to the topic, if one would go for loan or borrowing money, at least make sure that the money would indeed guaranteed to be paid back at its due. I kinda feel bad to those people that got buried in debt from their stories in Reddit.