CZ started English live broadcasts after two Mandarin sessions, which I believe is also influenced by the recent public pressure on Binance. Let's dive straight into the topic. I will only list the key points of CZ's responses to the questions without elaborating too much on the questions.
In response to the recent attacks on Binance by many online trolls, many people have lost money in the past two or three months, and coincidentally, some are attacking Binance, so they want to find an excuse for their losses. However, everyone should maintain rational thinking. The most important thing is to respect oneself. As a trader, you must also respect your own decisions and actions. The market has been poor in the past two months, but not everyone is at a loss; some are making profits. Ultimately, it still comes down to one's own decisions.
Many people say that the performance of many poorly performing tokens on the Binance platform or Alpha has led to their losses. However, CZ believes that the main function of an exchange is to provide access, not to say that if a coin is listed on Binance, it means they support or endorse it. Traders should consider for themselves whether to buy or not. Binance provides access; even Nasdaq has many poorly performing stocks, yet no one blames Nasdaq.
CZ expressed optimism about the arrival of this Bitcoin super cycle a few months ago. The market has faced a lot of FUD in the past two months, and the overall sentiment is quite low, influenced by geopolitical and economic policy reasons. However, CZ still believes the super cycle will arrive.
Next, I will list simple questions and CZ's answers.
Gold has surged, but Bitcoin remains sluggish. Do you still think Bitcoin is superior to gold?
CZ: After many years of accumulation, gold has a stronger consensus, coinciding with global turmoil, so most people's first choice is still gold. However, this does not mean that gold is superior to Bitcoin; it's just that the longer accumulation time has led to a stronger consensus currently, thus gaining more support. Now AI can help people do many things, and it will be a theme of the future that everyone recognizes. However, at this stage, AI cannot directly replace the jobs of most people, so new things need a process. The superiority of Bitcoin compared to gold is evident (details can be seen in CZ's previous debates), but the time is not long enough, and the coverage is not that wide. Nevertheless, Bitcoin is still superior to gold.
Besides Bitcoin, can you suggest some other alternative tokens similar to BNB?
CZ: My investment method does not apply to many people. Everyone knows that I have now bought Aster. My usual work involves charitable education, incubating projects on BSC, and providing crypto guidance to some governments. Everyone has different tolerance for losses, so I cannot give specific purchase advice.
How can it be proven that Binance's reserves are effective and will not lead to a bank run or inability to withdraw?
CZ: The principle of reserves can actually be verified through mathematical methods to show that your money is there, but it won't reveal the specific amount or whose money it is. Binance has publicly displayed reserve proofs, which are effective.
The live broadcast here is basically coming to an end, but during this live stream, many viewers experienced lagging issues. CZ also mentioned that this part of the product is indeed not well done and needs improvement.
This is a summary of the highlights from this one-hour live broadcast that I have compiled for everyone. The words are not exactly as spoken, but I believe the meaning has been conveyed to about 80%. Finally, I wish everyone good luck continuously!#CZ币安广场AMA #金价再冲高位