We can be CZ

[Faisal2202]

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?

He is not wrong, he bought btc in the early days, he even sold his apartment, he was a gambler too, he must have taken a lot of risk in trading as well, but I am not here to judge but I can agree with him, I also don't want to day trade, I also can't time the market, I make money, and try my best to allocate some of it to the BTC only at the moment.

Holding is the best strategy and there is no doubt, we might not have an idea yet, but when we calculate our earnings, which most of us might be doing, like what if we can accumulate X amount of btc and the price in the next decade will be X then how much we can make, maybe the resulted amount is not that big as they thought it would definitely be in 5 figure mostly.

But not trying and leaving it is the worst thing.

[ancafe]

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).

Not only according to CZ, but implementing a HOLD strategy is indeed much better for the growth of the assets we hold because Bitcoin is a potential asset with the ability to generate long-term profits. Except when talking about other coins, where this strategy might not be worth trying due to their lack of fundamentals. But you don't have to follow CZ and perhaps his past isn't as rosy as the case may have been.

He's now in hiding and continues to say motivational things to regain public trust and even Bitcoin has become something he can easily talk about now. We can ignore who's speaking as long as the narrative provides something profitable based on the facts, but there's no need to deify him.

[aylabadia05]

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?

Regardless of his current status with the case he is facing, it is true that anyone can become a CZ if they are willing to HOLD, and HOLD can be done by anyone who is strong enough to do so.
In addition to HOLD, regular purchases known as DCA are also part of a strategy that will last over time for those who want to invest in Bitcoin.

When he refers to himself as an entrepreneur rather than a trader, it strikes me as a subtle dig at those reading his post, as trading is a complex process closely tied to the risk of loss.

[macson]

If you mean like CZ, how he doesn't overcomplicate things by just holding Bitcoin, then yes, everyone should be able to do that, but is that really the case?  No, because everyone has different circumstances, goals, and desires when they want to profit from the market.

Maybe there are those who don't want to complicate things and are confident enough to just hold in the long term, but there are also those who want to take more risks and engage in short-term trading.

But if you ask me, I also don't want to overcomplicate things for myself, and I prefer to just hold Bitcoin. It's simpler, and you don't have to spend so much effort monitoring the market.

[rezakurnia66]

You can hold if have much back up money and investing in cryptocurrency become your side passive income, if some one the main source income from cryptocurrency trading most of them won't to hold for long term after earning profit few percent will sell and buy back later when lower price. You can't fully some one although the most influence person CZ to hold for long term exactly with his coins, BNB already break out ATH price if you still hold you loss opportunity get much profit due BNB price drop to $880 for recently price.
Someone has their own coins easily to talk us for holding exactly CZ ask many people to hold BNB, don't fully trust more with the owner of any coins because possibility when telling us to hold but they will sell their coins.

[justinlamode]

He is the example of how I want to approach cryptocurrency, not focusing on timing the market for short term buy and sell but buying t HODL. You can get rich from the market by buying and simply doing nothing, this may sound funny or too simple but that is how Bitcoin is and it's such a shame that many people have not realised this freedom that Bitcoin offers us.

[rbynxx]

Well, he's in a position right now to say those but we can really say that we can do what he did and basically it's known that he did invest in Bitcoin in the early days and now he reap that one. It's probably now worth for him to be a trader these days because he's already done it before and holding just the right coins will probably matter and scaling business or build more to create more wealth will be his motto.

[EFS]

CZ is absolutely right about this. Not everyone can make money with day trading. Very few people make a living from it. In general, those who trade end up losing money. You can make the right move 10 times, but then with one wrong move you give back all your gains. No matter how disciplined you are, you can't consistently predict the direction of the market correctly. Holding long term is much better than trading. However, very few people are actually able to do this.

[BABY SHOES]

I get the point CZ is trying to make, which is encouraging people to hodl. But the truth is that there's nothing wrong with trading. A few persons also make money from trading. The thing is, if trading is not your calling, simply quit. Also, the fact people trade does not mean they are not good hodlers. Some traders have assets they are hodling long-term and separate funds they use in trading.

There is nothing wrong with trading as long as they are able to take risks and have the skills they can make profits here not just HODL.

A lot of people make a profit from trading... applying strict discipline and good risk management they stay here.
I can't do that in trading, so having bitcoin HODL only requires long term patience.

[Shinpako09]

Hold and DCA. But you know, sometimes being greedy is human nature. People want to take profit on every swing. Some, especially those with limited capital, tend to do that, and we can’t really blame them, since we all want to build a bigger capital so that holding long term will be more worth it. They want to grow their capital first before committing to long term holding. Holding and DCA is the best approach, but if you think you can make a profit through trading, then do it. If not, just hold. Trading is not for everyone.

[Taskford]

CZ is absolutely right about this. Not everyone can make money with day trading. Very few people make a living from it. In general, those who trade end up losing money. You can make the right move 10 times, but then with one wrong move you give back all your gains. No matter how disciplined you are, you can't consistently predict the direction of the market correctly. Holding long term is much better than trading. However, very few people are actually able to do this.

Day trading really looks tempting if we look at the possibilities to get profit. But what usual situation happened there is people losing their money, since if they do one single mistake on their trades all their gains they made for a week or month will gone.

This is why long term Bitcoin holding is much really better since historically speaking and it backed up with data this is not only safer but also rewarding investment option to choose by people. People just need to be patient and consistent, since there are so many challenges for choosing long term holding. 5 - 10 years timeline is much ideal and usually base on history its more rewarding, compare for those people do short term since usually what commonly happen to them is they burn their capitals.

[Synchronice]

Am I the only one who thinks that this tweet quite a tricky thing from him? Just look at how he mentioned BNB next to Bitcoin and focused on HOLDing or probably HODLing. We all probably agree that holding Bitcoin is the best choice but why was BNB included in the list? To my mind, psychologically this is a message to the people that BNB is like Bitcoin. CZ is a sneaky guy, he only cares about his wealth. I'm confident that this tweet was meant to by being so simple with the attitude and the list, he wanted to gain trust among people, especially among those who are new to crypto or aren't very educated in crypto space. This guy only cares about his own wealth and by mentioning BNB next to Bitcoin and limiting himself to this list, he did the job very well, which was meant for his own benefit. Yes, if we hold BNB like Bitcoin, we will only make CZ rich.

[danherbias07]

Well, it's really difficult to do trading, and it's a lot of effort and sleepless nights before you learn the system. It's a very risky industry, and I have given up on it because it's only for those who can really put their time and effort into being successful.

I'd rather do what he does. Invest in buying Bitcoin and some coins that have a legitimate product, which will gain value in the future. I have done that and was successful, and was lucky to sell it at the right time during the ICO days. I made some good money, bought a house, and now I am trying to accumulate more again.

We don't need to force trading if it's not for us. Maybe we are just good at holding coins.

[buwaytress]

Haha Zhao helped criminals launder money, using crypto and banks. He trained customer support to specifically onboard people who were unbankable (because of law, not birthright), taught them how to use fake passports etc. Then he went to rich people jail, paid some fines, and got about his business. He didn't hold. He encouraged people to sell their BTC to buy shitcoins and accepted hundreds of millions to list shitcoins. Then stashed it all away into bitcoin.

Oh, he also launched his own shitcoin.

[Darker45]

It has been said many times. And it has been proven time and time again.

Ever before hodl became a word back in 2013, it was already the best alternative for those who can't sell before a dip and buy before a pump--something nobody can actually be accurate at, not even those experts going around cities sharing the secrets of a successful trader.

Hodl was born precisely because it's the best thing to do. And, of course, because the man who coined it was drunk and his "GF's out at a lesbian bar".

[john_egbert]

It has been said many times. And it has been proven time and time again.

Ever before hodl became a word back in 2013, it was already the best alternative for those who can't sell before a dip and buy before a pump--something nobody can actually be accurate at, not even those experts going around cities sharing the secrets of a successful trader.

Hodl was born precisely because it's the best thing to do. And, of course, because the man who coined it was drunk and his "GF's out at a lesbian bar".

It's a way out of frustration and painful lessons.

Everything is presented to us properly as it is, we just need to use it

[Lucius]

Am I the only one who thinks that this tweet quite a tricky thing from him?
~snip~

What to expect from a cunning fox like him? His only goal is to extract another $100 billion from his cryptocurrency business by providing infrastructure for all possible shitcoins and of course by shilling his token.

Haha Zhao helped criminals launder money, using crypto and banks. He trained customer support to specifically onboard people who were unbankable (because of law, not birthright), taught them how to use fake passports etc. Then he went to rich people jail, paid some fines, and got about his business. He didn't hold. He encouraged people to sell their BTC to buy shitcoins and accepted hundreds of millions to list shitcoins. Then stashed it all away into bitcoin.

Oh, he also launched his own shitcoin.

People not only love him for that, they would also love to be like him. We have long abandoned the ideas of honesty and morality, on the path to success, no one and nothing should stand in the way. When characters like these become role models for new generations, you know we've taken a completely wrong turn.

[tabas]

Very simple words and that is to HODL. We're holders, we're businessmen and there's no need to deal with trading which people have to do in a day-to-day basis. Although there are traders that might say they only trade after a few days or weeks of doing it. But we can understand how important and powerful is becoming a holder/investor. That speaks a lot not only for CZ but also for everyone who's stayed to become a long term holder. The more profit is in it and all you need to overcome is the emotional part when the market is full of uncertainty.

to be fair, conflating these things is exactly how people get into trouble. there are two completely different systems at play here.

System one is the Bitcoin network: a permissionless protocol where 'HODL' simply means you control a private key tied to a UTXO.

this system is governed by math and has no emotion.

system two is the world of regulated financial services, which is where CZ operates. this system is governed by Terms of Service, AML/KYC laws, and compliance departments. when you praise CZ and 'HODLing' in the same breath, you are confusing the two.

people who 'HODL' on Binance aren't HODLing bitcoin; they are holding an unsecured claim on a database entry within a private company.
that company can, and will, freeze your 'assets' the second their risk algorithm flags you.

its not personal, its just their operating procedure to stay compliant with regulators.

We don't have to complicate things, hodling is simply as holding. And we do that in practice of doing it in our own wallets where we control the private keys and not with exchange. If we see people that does that, we remind them to withdraw their funds from these exchanges and hold it on their own.  I agree to what you've said and that's what centralized exchanges is for us, that's why no need to keep funds there.

so when you talk about 'overcoming the emotional part,' youre missing the real risk in my view. the emotional strain of watching the price drop is nothing compared to the emotional strain of getting an email that says your account is suspended 'pending review.'

The former is a feature of a free market. the latter is a feature of a centralized, permissioned system that you voluntarily opted into.

you can't be a 'businessman' if you dont even have custody of your own business assets. its a systemic feature, not a bug, that exchanges are a risk.

people just choose to ignore the fine print until its too late for them.

It's okay to learn things by having mistakes in the beginning and that's how we get into the actual thing and gives us that lesson of being able to hold it by ourselves. We cannot remove the emotional part because trader, holder or investor, we have that feelings for the funds we've spent for investing and that's why it cannot be removed to someone's mind when the market changes its behavior.

[JeffBrad12]

I trade because i'm profitable. I think the point that CZ want to deliver is, do what you're good at. He is a developer so he builds something. His $BTC and $BNB possession is an investment.
If you're good at trading, you should do it. If you're good at something else, don't force yourself to trade. Simple. I don't think there's any need to look deeper into what he wants to say.

[Fiatless]

CZ is absolutely right about this. Not everyone can make money with day trading. Very few people make a living from it. In general, those who trade end up losing money. You can make the right move 10 times, but then with one wrong move you give back all your gains. No matter how disciplined you are, you can't consistently predict the direction of the market correctly. Holding long term is much better than trading. However, very few people are actually able to do this.

Sometimes we can miss vital information because we are considering the past of an individual. People might think that because CZ is an ex-convict and has promoted some shitcoins, he shouldn't be taken seriously. Trading is complex and requires some technical knowledge. Not everyone can be successful in Bitcoin trading. But with little knowledge, anyone can be a Bitcoin holder and make a profit if they keep it for a long time.