Topic: Can you declare your crypto asset to family members? - page 2. (Read 165 times)

You can be different than me in privacy, but I only tell people who are my family members, but are people I intend to give them inheritance of my bitcoin. I don't plan to tell anyone else about my Bitcoin investment and my Bitcoin wallet backups or exchange accounts, if they are not people who will inherit my bitcoin if I have an accident, lose my conciousness or pass away after that.

Family members can do bad things against you too, who knows?

What if he has different wallets and decides to show them the one with little coins inside they will still not be contented with the amount they will see there as they will feel that he has mismanaged his funds.

No one should be pressured to declare their asset to anyone but the brothers and the family were literally concerned that he is not doing well from their own perspective since they haven't seen any physical improvement based on how people feel that when you start making money from your investments, you will now start doing things that will convince them that you are doing well for yourself. And moreover, he has already told them that he's into bitcoin.

People who are into cryptocurrency in general should be cautious of their privacy and security but this people are literally your family members who are concerned in what you do and want to know if you are making a headway from it.

It is up to you with your concern about your privacy and safety. The more people know what you are doing, the more risk that your privacy will be leaked more. It can affect your safety too, and if you are worry about privacy and safety of your fund and life, just don't tell anyone about your investment in Bitcoin.

2025 is different than 2009, 2010 and Bitcoin is mentioned widely on media, so if your family members hear about Bitcoin but don't invest in bitcoin, it is because they don't like it, don't believe in future of Bitcoin.

It is up to them for learning about Bitcoin and change their thinking on it.

This is why it's good not to store all your bitcoin in one wallet. It's better to use two wallets, you keep the large amount in a seperate wallet like a cold storage and keep some amount in your online wallet, so that when such thing happens like this, you can show them your online wallet.

It's not advisable to declare all your bitcoin hodlings to anyone by force be it your family members. What of those his brothers that are into physical earnings, did they declare all their asset and funds in the bank to the family?

I have a friend who earns in bitcoin while his other three brothers earn in Fiats from their businesses and professions. His other brothers are progressive and doing better in their businesses but this friend of mine decides to hodl his bitcoin for future growth then he can establish a physical business from the profits he hope to make from bitcoin in the future while he will still hodl some amount in his wallet. Now, his family and his brothers are worried that they are not seeing any physical reflection of someone who is earning in bitcoins as he proclaimed because they were expecting that since he is earning in bitcoins that he will sell it to Fiats and use the money to establish a business or a project that will be visible to them that he is progressing as well. His family have now called a meeting to question him about what he does with the money he earns in bitcoins since they haven't seen any physical impact from him. He told them he is hodling the bitcoins till he must have acquired a sizable amount in his portfolio and make huge profits from it before he can think of selling and use the money for physical businesses and projects but his family didn't believe him and they ask him to declare his asset in bitcoins before they can be convinced about what he is saying. He then refused to declare his asset in bitcoin because he has already hodl a large amount and since the meeting comprised some of his extended family members, he was not comfortable declaring his crypto asset due to some personal and security reasons.

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?