Topic: DO NOT BRAG ABOUT YOUR BITCOIN (Read 1121 times)
The situation is quite bad in my country. We even can't share that we are related to crypto because cryptocurrency is illegal in my country. So there is no question about sharing our holdings with anyone else. However, personally, I don't share, even with my nearest friends, how much I hold. I like to maintain maximum privacy when it's related to cryptocurrency. I just believe in myself and my family. But my family also doesn't know how much I am holding right now; they just know I am involved with cryptocurrency.
Quote from: michellee
Owning Bitcoin means you must take full responsibility for it. You can't say it to many people because you don't know who is sincere towards you. By storing your Bitcoins carefully, you have protected your Bitcoins from bad people who want to steal them.
You have the right to stop people not to have access to your BTC by creating a solid password to all your laptops and phones, that will prevent people not to see your wallet which nobody can touch the BTC apart from only you, And, you still have the right to allow people to have access to your BTC by showing them all your details, they can use to withdraw your BTC from your wallet without your permission.
I completely agree with you mate, you should not brag about anything, in general, but in this case, bragging about bitcoin could be dangerous
Quote from: michellee
Owning Bitcoin means you must take full responsibility for it. You can't say it to many people because you don't know who is sincere towards you. By storing your Bitcoins carefully, you have protected your Bitcoins from bad people who want to steal them.
You have the right to stop people not to have access to your BTC by creating a solid password to all your laptops and phones, that will prevent people not to see your wallet which nobody can touch the BTC apart from only you, And, you still have the right to allow people to have access to your BTC by showing them all your details, they can use to withdraw your BTC from your wallet without your permission.Quote
Currently, the price of Bitcoin can make people curious and want to own it. Store your Bitcoins in a place completely protected from people you don't trust.
Especially, this price that hit $73k last month that made the price to break record as the highest price investors have ever experienced from cryptocurrency, and it has made many people to prepare for the upcoming bear season so that they can use the money they save to buy and hodl for the bull run to occur before they can sell to earn from the market again. 
What if everything was in the open:
Person A +2 million
Person B -2 million
Person B claims to have been robbed for 2 million,
Do you believe Person A is in trouble ?
I don't think it's that simple in presenting the problem that the OP is trying to convey, things like what you said can be overcome easily if the case is like that, and to anticipate this problem is not to share how much bitcoin we have then store bitcoin with strict security, only you know where you store your seed pharse, that's enough, especially if you use a Multi Sig Wallet you don't need to be afraid of that kind of thing. Person A +2 million
Person B -2 million
Person B claims to have been robbed for 2 million,
Do you believe Person A is in trouble ?
After all, cases like the one you described can be read, however, transactions on the blockchain can be traced and where the bitcoin is going, so you don't need to be afraid, but if someone has the intention of cheating you, you certainly have to know how the blockchain works.
Dude, bragging about your Bitcoin is basically handing out a target sign. The world's full of folks who wouldn't mind "borrowing" your crypto if they knew how much you were stacking.
When I explain Bitcoin to people, I pull out my "dummy wallet" - the one with like $5 in it. Main wallet? Invisible. Close friends? Love 'em, but my financial life stays private. A best friend might accidentally (or not-so-accidentally) let something slip, and boom, next thing you know you're looking over your shoulder 24/7.
When I explain Bitcoin to people, I pull out my "dummy wallet" - the one with like $5 in it. Main wallet? Invisible. Close friends? Love 'em, but my financial life stays private. A best friend might accidentally (or not-so-accidentally) let something slip, and boom, next thing you know you're looking over your shoulder 24/7.
A very large percentage of Bitcoin and cryptocurrency holders tend to show off which is the reason why they disclose their private information and details in front of people which isn't a good thing because as you said, this will make one become the target of one of those people who might have bad intentions or have evil ideas in their mind after knowing this reality, so it's better if a person hides their financial status and financial holdings from everyone.
I don't even feel comfortable discussing my finances and holdings with my family members and the reason behind that is certain things are better if kept private and aren't discussed with anyone and I believe finances and financial activities are one of those things. This is why I never discuss what I do with my money, how much I earn, where it comes from, etc., with anyone.
Nobody likes to have their finances on full display. I get that. But in Bitcoin, there are some differences. Some folks say keep your holdings secret, but the smartest investors, the best in this game, find power in strategic openness. Its about trust, its about building a strong community.
Yes, but telling every person you meet about your Bitcoin isn't community building in my opinion, and that is what we are discussing here. One isn't supposed to share how much money they have with every other person, and when it comes to cryptocurrencies, it should be hidden at all costs because those who don't know much about cryptocurrencies and have only heard about it from here and there think it is a lot of money even if you tell them about a coin that isn't worth a lot, and such things can be dangerous if one of those people you discuss it with has evil intentions.This is why, it's important for Bitcoin and cryptocurrency investors or even anyone in general to avoid discussing their finances with people around them only out of excitement or to show off because you won't achieve anything but this might become a problem for you later on.
. Don't go blabbing your mouth to everyone about your Bitcoin stack.
your financial worth should necessarily be a private affairs that's only disclosed to a selected few that are primarily close enough to get access to such information. It's never about Bitcoin. Do you go around telling people how much you have in your bank account ? For me, no one has the right to get those kind of information about me except my wife and probably my kids when they are matured enough but outside of that, we keep things as as straight as possible.The only issue is that we get a bit valnourable in the midst of those that are Bitcoin investors like us and we might get in a situation where we become too free and open to tell them the quantity of our stack because we believe they are also stacking with us. It's an area we should be mindful to know that anyone can change and become an enemy that's just after stealing of our holding.
Bitcoin is different from the traditional banks. Things are out in the open, thats the nature of the blockchain. We need to be smart, careful about what we share, nobody's saying be reckless. But sharing knowledge with the right people? Thats not a weakness, thats how you build strength. Knowing who's got big stakes in Bitcoin lets us watch each other's backs, helps us all stay secure. Privacy's important, but dont mistake it for being an island in this decentralized world.
I agree that you don't need to tell everyone about your income, especially in crypto. Be humble and keep on stacking sats.
Through investors didn't give their private informations and they didn't tell anybody that they are and investors that they have money in Their wallets cause they will know how risky their life is if there are many people will know that they are storing some Bitcoins in their wallets. And also they will not sacrifice their money in their own risk. So they will keep Their mouth silence and always humble. They will act as a normal and we don't know that they are a big Time investor.
I think the possibility must occur from observing that the most important thing is to maintain information as their investment and keep it, making a lot of money for them, sometimes keeping difficult secrets, how many bitcoins do you have as bitcoin ownership, which is to generate and keep assets in a safe position, bitcoiners, don't anyone, including those closest to you, to know even if necessary, you have to be extra careful, can lose assets that you have locked up tightly.that is the most important
Dude, bragging about your Bitcoin is basically handing out a target sign. The world's full of folks who wouldn't mind "borrowing" your crypto if they knew how much you were stacking.
When I explain Bitcoin to people, I pull out my "dummy wallet" - the one with like $5 in it. Main wallet? Invisible. Close friends? Love 'em, but my financial life stays private. A best friend might accidentally (or not-so-accidentally) let something slip, and boom, next thing you know you're looking over your shoulder 24/7.
When I explain Bitcoin to people, I pull out my "dummy wallet" - the one with like $5 in it. Main wallet? Invisible. Close friends? Love 'em, but my financial life stays private. A best friend might accidentally (or not-so-accidentally) let something slip, and boom, next thing you know you're looking over your shoulder 24/7.
What you appear is quite reasonable and true, meaning don't attract the attention of many people even though the value of our asset ownership is only a few, if you want to educate BTC even for our close friends, you don't have to look very detailed with just a small example that is easy to understand.
In the world which we find ourselves today, we have to be careful whenever it comes to financial aspects, not everyone will really be happy when they see you progress, even people close to you. So when you are teaching anyone about bitcoin, the strategy which I do use is that I am having a wallet which I have nothing inside, and I have a exchange which am having like $10 in it, that’s what I do you to explain to them, I will never show them my main wallet, nobody knows the amount which I worth. You can’t trust anyone, the person you call your close friend might end up being the one to set you up, so always make sure your investment is private. 
I agree that you don't need to tell everyone about your income, especially in crypto. Be humble and keep on stacking sats.
Through investors didn't give their private informations and they didn't tell anybody that they are and investors that they have money in Their wallets cause they will know how risky their life is if there are many people will know that they are storing some Bitcoins in their wallets. And also they will not sacrifice their money in their own risk. So they will keep Their mouth silence and always humble. They will act as a normal and we don't know that they are a big Time investor. 
Talking about Bitcoin in public, I don't think this is a problem as long as they don't know how much we have collected. Moreover, if our delivery is good, of course there will be those who are interested in learning about it and this will make Bitcoin continue to grow and for those who have Understanding Bitcoin well will of course keep your wallet keys well and don't give them to other people so that the assets we own are not used by irresponsible people.
What you appear is quite reasonable and true, meaning don't attract the attention of many people even though the value of our asset ownership is only a few, if you want to educate BTC even for our close friends, you don't have to look very detailed with just a small example that is easy to understand.
In general we all have mobile phones and our average assets may also be stored there in trading applications provided by exchanges. And often we unconsciously carry out trading activities in public places that are very easily monitored by others. I think this should also be taken care of as well for security as well.
I agree with the points you raised but just to add to what OP has provided, there is a big distinction between bragging and educating.
When you brag your BTCs, you are blindly telling to everyone that you have "x" amount of BTCs in your wallet. It is like you are saying that you have $1 million on your bank without providing any details as to how you acquired the said amount. Additionally, you are putting yourself in a security risk that may definitely compromise your safety as a whole.
When you educate a person about cryptocurrencies, you explain on what processes are involved in order to acquire BTCs in the process. You educate people by giving them insights and sharing your experiences that can be helpful when a person decides to start their cryptocurrency journey.
In other words, don't give a man a fish; teach a man how to fish and they wll be satisfied until the end.
I agree that you don't need to tell everyone about your income, especially in crypto. Be humble and keep on stacking sats.
I think it's completely stupid to reveal to social media or other people how much wealth we have or how much bitcoins we have invested. If we keep telling everyone about our particular assets, we may be exposed to physical threats, making it more likely that our assets or invested bitcoins will be stolen or hacked. Moreover, now people are more greedy towards digital assets especially Bitcoin. If a person has a large amount of bitcoins, if someone finds out, that person can be in great danger because other people can covet his wealth.
Additionally, Bitcoin is not legal in most of the countries where our community members are affiliated, making it even more dangerous to disclose Bitcoin investments in their countries. I have also heard of many investors who are investing in Bitcoin but they didn't even tell their family about their investment maybe they did the right thing for their own safety. Investing in Bitcoin and keeping our investment safe requires security. When I first invested in Bitcoin then when my investment passed 2 to 3 years then I told my family but it was revealed by doing a job.
I think there are some "influencers" who use what they have as a way to promote how "good" they are. So they share the amount of money they have, the life style they have, showing the world how "rich" they are, so that seems like the most important part of it.Additionally, Bitcoin is not legal in most of the countries where our community members are affiliated, making it even more dangerous to disclose Bitcoin investments in their countries. I have also heard of many investors who are investing in Bitcoin but they didn't even tell their family about their investment maybe they did the right thing for their own safety. Investing in Bitcoin and keeping our investment safe requires security. When I first invested in Bitcoin then when my investment passed 2 to 3 years then I told my family but it was revealed by doing a job.
I believe that the best thing regards to these influencers is that they do provide every single data, so people could actually try to hack into them and use the images these influencers shared, to gain access to their account as well. I am not saying it would work, but there is a bit of a possibility of it as well. This is why you should avoid it. However, at the same time, an influencer who shares nothing would find it hard to get some followers to become an influencer.
There are other influencers who really brag, the ones who don't need to brag but they do it for the sake of views. Even if what they say is not true, they still do what they do.
But even so, we shouldn't brag about how much bitcoin we have, let's just keep it, because it's to prevent others from thinking bad things about us. Maybe this people will destroy us in the long run, right?
Perhaps it will help if your coins are stored in different wallets. If such a thing happens, God forbid, you will give the information of only one wallet.
Are you directly encouraging people to used multiple wallet to store their assets?What about those that are not good with having several wallets or that are not with storing their wallet seed phrase safe and they lost access to their account what would they do to restore it back. Most times we just need to be very mindful with the way we speak publicly or distribute information about yourselves, when people noticed you are holding much bitcoin they wouldn't mind to know whether it's 10 btc or 1 btc they would planned against you to rob you for those coin.
What if everything was in the open:
Person A +2 million
Person B -2 million
Person B claims to have been robbed for 2 million,
Do you believe Person A is in trouble ?
Person A +2 million
Person B -2 million
Person B claims to have been robbed for 2 million,
Do you believe Person A is in trouble ?
Yeah absolutely You are right that one doesn't need to discuss their finances and financial holdings with anyone no matter how close they are with them because we live in an era where you can't trust anyone, not even your family members. So the first step for anyone involved in cryptocurrencies and who has holdings should be to keep that secret to themselves.
Yeah I have heard enough of how to secure your bitcoin and other crypto asset to avoid from getting scammed or hacked or even attacked physically to forcefully steal your bitcoin. And of course we should not talk about our assets publicly or in the internet and social media platform. I mean, all of these are correct and what should everyone must of follow. But, keeping it a secret even with your own family, like your wife? I think that is just overreacting and so wrong on so many levels. Why would you keep a secret to your wife? when all you have been holding onto why you get married is because you trust her and she trusted you too. That's just don't make sense to me though.
This is what I see many people on the forum doing, they consider bitcoin more important than anything, including their love between husband and wife as well as their feelings towards their children and parents. This makes me feel like bitcoin was created to make people suspicious of each other and tends to destroy mutual trust. Thanks to bitcoin, these people begin to doubt and distrust their closest loved ones, so is owning bitcoin good or bad?
It's confusing, they can't even trust their wives, so why does that person get married? What is he investing in bitcoin for if not to seek wealth for his family and relatives?
I think there is a lot of logic in what you say because if you invest bitcoins it is better not to share it with anyone to protect your privacy, but some people must share it. It is also a good idea to invest bitcoins and not share them with friends and neighbors or relatives, but rather share them among your family, such as spouse and children. Because people can die at any time and if he has invested bitcoins if no one knows about his investment then it will be useless no one can enjoy those bitcoins. And we basically invest in bitcoins only so that our next generation can live well with that money in the future. But many times it is seen that many husbands and wives quarrel and secrets are often leaked so it also creates suspicion and mistrust so owning Bitcoin is good. Of course, it is right that if he cannot trust his wife then he should not have married, however a man must share this investment with his wife. When that person passes away, his Bitcoin investments are the greatest thing that his children can enjoy. And Bitcoin is basically invested not only to hold it but to do something for one's future, so I think it's better to share it with spouse and children instead of sharing it with relatives.
The relatives I am talking about here are the people we trust the most, the people we are working day and night to take care of, and that is our wives and children. I don't know about everyone, but for me, I am even willing to risk my life for my children, so bitcoin is not too big for me to create doubt and distance between me and my family. Or my parents, they gave me this life, without them there would be no me. If I lose them, I'll never find them again, but if I lose my bitcoins, getting them back isn't too difficult. So there's no reason just because of bitcoin, because of money, that I should doubt them. After all, bitcoin is money and making money is never easy, but it is not so difficult that it is impossible to earn it back.
Perhaps it will help if your coins are stored in different wallets. If such a thing happens, God forbid, you will give the information of only one wallet.
Are you directly encouraging people to used multiple wallet to store their assets?What about those that are not good with having several wallets or that are not with storing their wallet seed phrase safe and they lost access to their account what would they do to restore it back. Most times we just need to be very mindful with the way we speak publicly or distribute information about yourselves, when people noticed you are holding much bitcoin they wouldn't mind to know whether it's 10 btc or 1 btc they would planned against you to rob you for those coin.
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