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Topic: DO NOT BRAG ABOUT YOUR BITCOIN - page 2. (Read 1364 times)

hero member
Activity: 1176
Merit: 543
fillippone - Winner contest Pizza 2022
June 13, 2024, 02:11:42 PM
Sharing your Bitcoin success could attract unwanted attention and potential risks. Using multi-sig setups and safeguarding your seed phrase can enhance security and protect your assets. Remember, discretion is key to safeguarding your Bitcoin holdings.
I don't even see a good reason why we have to share our crypto portfolio with people we know or we don't know.
It is better we stay focused and do things in a way that is mature and can help us to make more money from the market. Some people would want to show themselves that they have huge amount of funds in their portfolio which can attract more followers and fans on social media. This would not be the kind of lifestyle we must emulate because it can be risky and can attract hackers to starts tracing Al our transactions if they eventually know our wallet address or send virus inform of files to us which can compromise the wallet that contents the crypto portfolio.
newbie
Activity: 3
Merit: 0
June 13, 2024, 09:00:16 AM
Sharing your Bitcoin success could attract unwanted attention and potential risks. Using multi-sig setups and safeguarding your seed phrase can enhance security and protect your assets. Remember, discretion is key to safeguarding your Bitcoin holdings.
legendary
Activity: 2394
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Signature space for rent
April 21, 2024, 02:18:08 PM
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. 
legendary
Activity: 2576
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Catalog Websites
April 21, 2024, 02:10:03 PM
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.
It's not that simple: if someone, somehow, discovers that you own many bitcoins, and this person is a criminal, there are many ways for him to get his hands on your bitcoins without the need to know your passphrase, password, pin, or whatever. And once he convinces you somehow to make the transaction then you lost everything, there is no way to get them back. So what you're saying is true in an anonymous environment, if someone knows who you are then everything changes.
full member
Activity: 149
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Metal Seed Phrase at the lowest price! From 44.99
April 19, 2024, 01:04:27 PM
I completely agree with you mate, you should not brag about anything, in general, but in this case, bragging about bitcoin could be dangerous
full member
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Catalog Websites
April 19, 2024, 12:56:07 PM
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.
hero member
Activity: 1400
Merit: 674
April 14, 2024, 03:08:06 PM
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.

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.
hero member
Activity: 812
Merit: 619
April 14, 2024, 02:58:53 PM
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.


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.
sr. member
Activity: 854
Merit: 364
I ❤️Bitcoin
April 14, 2024, 01:41:28 PM
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.
hero member
Activity: 1316
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Leading Crypto Sports Betting & Casino Platform
April 14, 2024, 07:14:34 AM
. 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.
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.

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.
hero member
Activity: 2828
Merit: 518
April 14, 2024, 06:28:21 AM
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.
Keeping it secret is one way of protecting ourselves from risks and aggressive attacks from hackers. While we expose ourselves publicly, the more it attracts attention to evil people, and even some of our friends may think differently. Perhaps, we can live peacefully and the ease of not thinking somebody is watching us. If we keep our life low, people don't mind us but if they see us changing, that certainly makes them wonder what we did and what we make a living. We can make proud of ourselves of our great achievements silently, there is no need to tell others and let them know.
newbie
Activity: 232
Merit: 0
April 14, 2024, 04:04:31 AM
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
full member
Activity: 1008
Merit: 139
★Bitvest.io★ Play Plinko or Invest!
April 14, 2024, 03:17:54 AM
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.
sr. member
Activity: 770
Merit: 445
April 13, 2024, 04:46:00 PM
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.
sr. member
Activity: 1148
Merit: 346
April 13, 2024, 11:55:14 AM
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.
hero member
Activity: 2268
Merit: 789
April 13, 2024, 11:33:53 AM
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.
jr. member
Activity: 61
Merit: 6
April 13, 2024, 09:45:38 AM
I agree that you don't need to tell everyone about your income, especially in crypto. Be humble and keep on stacking sats.
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
April 13, 2024, 08:01:05 AM
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.

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?
full member
Activity: 476
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God is All
April 13, 2024, 05:05:45 AM
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.
There is this beautiful statement which I like and it goes people can really alter, hurt or take what they don't know about so for me keeping the secret of the amount of coins to yourself is probably the best thing one can do although there are some folks that let the influence of the Bitcoin they have to get to there and head and so fluent it just for other to know that their standards are high.
full member
Activity: 385
Merit: 110
April 12, 2024, 10:44:37 PM
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 ?
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