DO NOT BRAG ABOUT YOUR BITCOIN - page 5.

lovesmayfamilis

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Quote from: KingsDen on April 02, 2024, 03:42:47 PM

These type of advices have been heard countless time but one thing is that not everyone will adhere to the advice. Also it is important to note that it is not only when you brag about your holdings that people will know that you own some bitcoins. Merely making bitcoin related posts on social media, sticking cryptocurrency related banners in your vehicle or wearing crypto polos can also expose you.

Does this mean that a person who accidentally bought a T-shirt with a Bitcoin logo at the market or a figurine that he placed in his closet in the shape of a coin is putting himself at risk? In this case, do we harm ourselves? It seems that someone is interested in and participates in the popularization of Bitcoin, but on the other hand, he takes on the risk of being caught in the dark corner of people who decided that he has Bitcoin.

Vicious circle? Cheesy

m2017

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keep walking, Johnnie

Many people are prone to boasting, especially when things are going well, for example, bitcoin is growing rapidly. Especially for beginners, it can be difficult to resist sharing their joy with friends and acquaintances. Of course, OP is right that should be more careful with boasting about your financial successes. Everyone knows that emotions interfere with investing (bad decisions leading to unprofitable transactions). This is exactly the case when boasting (emotional behavior) can also lead to losses. In fact, any personal financial issues (not just those related to cryptocurrencies) should not be discussed with anyone other than those who are directly related to this (partners, heirs). Instead of sincere, joyful praise, you will most likely receive only hidden envy and hatred, like towards a person who has undeservedly received success. And then it will not be difficult for such people to whisper about you as a potential target for profit. Therefore, no matter how much bitcoin you have in your wallets or dollars in your bank accounts (are you really so naive to do that?

), your best ally is silence.

pinggoki

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The only time that you should be talking about your bitcoin is if someone starts it and they're also a hodler, even at that point, you still need to be vague or maybe even the best thing to do is not talk about it, that's probably the best thing that you can do. There's this meme that I've seen in my social media feed and it talks about how you're the one that's funding most of the food in the family reunion because you keep bragging about your investments, it's a funny thing to happen but there's times that things can get worse for you and it's something that's preventable. Minding your own business will always be the thing that you'd have to be thinking about.

Darker45

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🙏🏼Padayon...🙏

Quote from: LogitechMouse on April 02, 2024, 11:41:11 AM

Quote from: Darker45 on April 01, 2024, 09:19:08 PM

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.

When I start to re-accumulate Bitcoins again during the bear market after this bull run, I will do this one. TBH, I'm storing all of my Bitcoins on one wallet only, and I know, I know it's risky to store all of my Bitcoins in one wallet only, but I already made sure that no one knows where I'm storing it. After all, I'm the only one in our community that's involved into crypto, so they don't know how to steal it. Cheesy

Not a reason to be complacent. Surely, there are times when you go out from your community. Also, there are people from other places who visit your community. Some move there for good. Some just pass by. Further, how can you tell that you're the only one who's involved in crypto in your community? And even if that's right, it's just a matter of time before somebody in your community learns about it. It's not as if your community is inside a cave and nobody knows about social media.

And it's not about how good you hide your wallet or backup or how they would steal it from you. A robber doesn't have to solve a puzzle. He/she only needs his/her Bitcoin address and a kitchen knife to force you to send all your money to him/her. It's not about a perfect hiding place. It's either you take that out wherever you're hiding it or the knife will pierce through your gut.

harapan

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Quote from: Darker45 on April 01, 2024, 09:19:08 PM

While I agree that everybody should just keep to themselves how much Bitcoin they own, if somebody is held at gunpoint or at knifepoint, it doesn't anymore matter which wallet you're using, or whether it is multi-sig or not, or whether you have a copy of your seed phrase or some other backup. It's either your life or you cough up those information.

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.

Exactly,privacy they say is power and informations like that needs to be properly secured no matter what happens.For your security and safety sake,stop trying to prove a point to people or stop trying to argue with them over what you own or possess.
No one needs to be told,you shouldn't be given them an evidence as to how you get your wealth or where you profit from.

Bitcoin,whereas trading,mining,buying&selling,bitcoin engages our knowledge deeper but its not everyone that sees the signal and responds to it.Bitcoin teaches us privacy;if bitcoin can protect and grant us privacy and safety from the government,how much more developing your personal privacy level.Bitcoin can be used in a private and anonymous way.

Oasisman

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Rollbit

Quote from: KingsDen on April 02, 2024, 03:42:47 PM

These type of advices have been heard countless time but one thing is that not everyone will adhere to the advice. Also it is important to note that it is not only when you brag about your holdings that people will know that you own some bitcoins. Merely making bitcoin related posts on social media, sticking cryptocurrency related banners in your vehicle or wearing crypto polos can also expose you. But how then can we successfully avoid all these. Satoshi Nakamato had adviced us on how to avoid these linkages by separating our individual identity from our bitcoin address. This can atleast save us in some ways. Meanwhile, it is not advisable to brag about your holdings whether it is bitcoin or money.

Exactly! It is not just by bragging that criminal minds recognizes their target. Sometimes these criminals are too smart to trace their target via the links they gathered from a person who happens to have engaged in social media with crypto related groups and topics and then using his primary account with all the names and photos posted in that specific platform.

I have seen this advertisement campaign about the danger of posting all kinds of information you have in social media, where they prank people by pretending to be a fortune teller using the social media information they get from them and the people that is working in the backend will be the one to feed that information to the fortune teller. People who got pranked get a slap of reality instantly, they never knew it could be used against them.
That simple phishing email and that fake bank representative that's been constantly calling anyone is the prime example that these criminals are also working the best they could to generate a lead.

Volimack

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There are few people who brag about bitcoin but bitcoin is a digital asset whose information is lost in no time and difficult to recover if shared with anyone. That's why I shouldn't argue with anyone about how much is in my wallet. One should keep quiet thinking about their safety and it is possible to get good profit from this platform. Bragging can make life worse learn from real life and proceed.

Zoomic

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My post made philipma1957 wear signature

Quote from: strictly0nGod on April 01, 2024, 08:04:36 PM

Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others. This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target. This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

Everytime I see similar posts like this advising people not to disclose how much Bitcoins they have, yet people keep ignoring this advice. I think it is even safer not to disclose at all that you own a certain percentage of Bitcoin. Bitcoin enlightenment has spread so fast that a common man out there sees people who brag about Bitcoins as money Lords. Such public displays only exposes one to security attacks as many would rather want to steal instead of learning how to invest in bitcoin too. Bitcoin investors have to first learn how to protect themselves first before any other thing. No one will be attacking your Bitcoin wallets if they had no idea that you even have a wallet. Cyber theft is on the increase everyday, this is the main reason we need to be security conscious always.

yazher

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You own the pen

If I'm not mistaken there was a site that kept updating about Bitcoin crimes the main story was about people who were kidnapped and forced to take their bitcoins from them after bragging about how much they had in their wallets. these people are actually real and they will come at you as soon as they learn your place you should take necessary measures not to be like those victims who have nothing to blame but themselves, others even have some bad endings because their lives have been taken from them along with their crypto assets. So this should not be taken lightly or else you are putting your life in danger along with your families as well.

kingvirtus09

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Quote from: strictly0nGod on April 01, 2024, 08:04:36 PM

Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others. This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target. This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

It's good what you said, and it's also right; it's just that there are people who really enjoy a lot of money and can buy what they want; they brag about it already on social media platforms like Facebook.

Even with Bitcoin, others say how many bitcoins they have, even though no one asks, What is it for? Is it for someone to comment and say that it's great? or someone will say, Wow, he has bitcoin or what? In fact, there is no reason to do that; it is done just to show off, but they will say that the Bitcoin crash is to inspire others. For me, it doesn't give inspirational feelings to others; instead, it even causes annoyance to others. That's literally legit.

boyptc

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I am not too vocal with it but you know that every bull run comes, I am having more friends again but I am expecting that.

I am not blabbering about Bitcoin anymore and they're the ones that gets close to me asking this and that about the market. It's fine for me but I wouldn't be too vocal with them anymore of how much I've got but usually, I'd just say that I am still holding a bit and hoping that I can get some good gains about it.

Other than that, I am not talking to random stranger in real life if they happen to ask about me and my personal holdings.

Ale88

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Quote from: strictly0nGod on April 01, 2024, 08:04:36 PM

Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others. This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target. This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

Don't bragging about money, bitcoin, gold, or any other asset that could be stolen, is always a good idea. Nowadays I don't think that the average Joe is going to brag around about his bitcoins, the only people that could be in some kind of danger are the early adopters who maybe told some friends and family about purchasing bitcoin when it was worth a few dollars. Whoever entered this market in the last years probably doesn't have many cryptocurrencies unless he was already wealthy before bitcoin.

Z-tight

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Quote from: JoyMarsha on April 02, 2024, 04:12:25 PM

Deactivating your crypto wallet app will be best, but make sure you have your seed phrase kept at two different safe places where it can't be tampered with.

If what you meant by 'deactivating' is to delete your wallet file from your device, instead of that, create a watch only version of your wallet. This watch only version does not hold any keys, so funds cannot be stolen from it, and from it you can check wallet balance, create and broadcast tx's if you also set up an airgapped version of the wallet for signing tx's

oktana

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Quote from: Darker45 on April 01, 2024, 09:19:08 PM

While I agree that everybody should just keep to themselves how much Bitcoin they own, if somebody is held at gunpoint or at knifepoint, it doesn't anymore matter which wallet you're using, or whether it is multi-sig or not, or whether you have a copy of your seed phrase or some other backup. It's either your life or you cough up those information.

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.

They say don’t put all your eggs in one basket. So, if you have a lot of money which is worthy to be robbed you of at a gun point, then you should always ensure you split your funds across wallets so if anything were to happen, they’ll probably find only one wallet (you should have signed out of the other wallets). It’s a valid suggestion because the people at gunpoint don’t know how much you have, and if you had less, they’d take it so.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: strictly0nGod on April 01, 2024, 08:04:36 PM

Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

This reminds me of some friend I have their WhatsApp contact on my phone and how they show off because of little investment they made on Bitcoin, they even shill and they are encouraged people to buy Bitcoin which is good but they sometimes over do it. I have never for once posted anything about Bitcoin on my status despite been an advocator. There are ways you can promote something without making yourself and object of target for scammers and hackers or even normal close friends.

What I like about Bitcoin is that it doesn't just teach you about buying it as an asset but the inherent features that makes you to like it and one of it is "privacy". If you value your privacy, you don't have to worry about this because even your family isn't supposed to know about your Bitcoin holding and what you do with your Bitcoin. Privacy just don't end there, learn extend it to live a quiet life and learn to spend your Bitcoin without anyone understanding how, when and where, this is to beat the way fiat exist.

Mame89

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Quote from: reagansimms on April 02, 2024, 04:00:05 AM

The only reason Satoshi chose to be anonymous was because he did not want his safety to be threatened by people who were capable of committing violence over his success in creating Bitcoin which is now starting to be considered the toughest rival to fiat money. Telling friends about your Bitcoin ownership will reduce your level of safety and also the Bitcoin you own, friends could betray you if they are in financial trouble.

When you are under threat with two choices: life or Bitcoin, you cannot avoid it and will hand over Bitcoin for the safety of your life. It would be better if you store Bitcoins in a different wallet and keep a copy of the phrase or other backup safely, and when you have a number of assets that can cause other people's evil intentions, never tell anyone about the assets you own.

Correct. We must realize the importance of keeping our bitcoin amount secret from other people because we know the intentions of someone who wants to harm us. It is also important that before investing in Bitcoin, we must be smart about storing wallet phrases or reserves in several places using the safest wallet. Because many beginners think wallet security is not that important, even though this is the first thing we have to learn before investing.

In essence, when we have a lot of bitcoin assets, never tell anyone, and don't like flexing, because in an increasingly materialistic world like now, many people are jealous of us. Whatever our plans, whether they are achieved or not, if possible, don't let other people know about it. Because we don't know what someone's true character is like. We have actually often read and often heard the advice from Op, but for me it is important to repeat it again and again so that we are always careful.

Issa56

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Quote from: strictly0nGod on April 01, 2024, 08:04:36 PM

It is important you do not brag about success. Don’t share how much you have with others.

Don’t even try to share the amount of bitcoin you are holding with other people, you are just risking your life if you try that, your investment is suppose to be known to only you, or your close family members, but it shouldn’t be know by even your friends, because some people which you think they are your friends are not really your true friends, they don’t really wish you good, so you have to be careful with people you tell about your investment.

When some people knows about your investment, then they might end up setting you up, your life is already in danger, and they might end up taking everything from you. Just imagine you have bitcoin in your wallet, and you got rubbed and you were asked to send the bitcoin to a particular wallet, you don’t have choice than to do it because your life is at risk, and you will be losing your bitcoin. Your investment should be a secret.

Miles2006

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Issues like this has been discussed several times, bitcoin investment is not something you start announcing around cause if we're actually referring to attackers I think attackers will come when they smell something fishy, attackers will not just come with the aim of stealing something like bitcoin. My first question will be like who informed them and how did they get to know about bitcoin except such person had contact with the victim. Disclosing bitcoin investment to friends is also not right and I think this habit is commonly seen on social apps.

JoyMarsha

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Quote from: Darker45 on April 01, 2024, 09:19:08 PM

While I agree that everybody should just keep to themselves how much Bitcoin they own, if somebody is held at gunpoint or at knifepoint, it doesn't anymore matter which wallet you're using, or whether it is multi-sig or not, or whether you have a copy of your seed phrase or some other backup. It's either your life or you cough up those information.

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.

This is what I pray against every day of my life, let me or any of my friends not fall short in the hands of evil ones to hijack their crypto assets by force. That would be the worst experience for anyone not to forget in a hurry because having your crypto assets taken by force by transfer to another crypto wallet, there is no way it can be traced who is responsible for the act.

To stand on the safe side, don't tell anyone about your crypto holdings or leave your crypto assets on phones or laptops for display of the amount of crypto coins owned. Deactivating your crypto wallet app will be best, but make sure you have your seed phrase kept at two different safe places where it can't be tampered with.

KingsDen

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Hello Leo! You can still win.

These type of advices have been heard countless time but one thing is that not everyone will adhere to the advice. Also it is important to note that it is not only when you brag about your holdings that people will know that you own some bitcoins. Merely making bitcoin related posts on social media, sticking cryptocurrency related banners in your vehicle or wearing crypto polos can also expose you. But how then can we successfully avoid all these. Satoshi Nakamato had adviced us on how to avoid these linkages by separating our individual identity from our bitcoin address. This can atleast save us in some ways. Meanwhile, it is not advisable to brag about your holdings whether it is bitcoin or money.

Topic: DO NOT BRAG ABOUT YOUR BITCOIN - page 5. (Read 1121 times)