Topic: DO NOT BRAG ABOUT YOUR BITCOIN - page 7. (Read 1364 times)

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.

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.

One of the most important things in life is on having that kind of security you do have with you and your family on which it would really be just that common sense on what are the things that you would really be gonna
do because we do know that we are living in a world on where there are really tons of those criminals that just really looking for some opportunity on which they could really be able to abduct people and having those kind of stealing your money or your assets or whatever it would be. This is why it would really be that important that you should really know on how to limit your mouth on telling things around.
It would be that too dangerous on trying out to boast about your money posession or capability on which we know that this is something that not really recommended on doing so.
It is really just that there are really some people of this world would really be that loving on sharing up on things to public which isnt supposed to be done in the first place.

I would argue it is not enough to prevent leaking the information about your holdings.

The issue is much deeper than that and any finger print you leave may have a bad consequence at some point.  We are living in an increasingly higher risk of Bitcoin related attacks and crimes, and particularly in times of rising and more often occurring cyber attacks.  And no, this is not my typical paranoia.  This is a very serious situation no body wants to be in, even if you do not care about having Privacy.

It is important to prevent pretty much any body from knowing about your holdings.  I mean every body.  This is to prevent unnecessary risks and issues regarding your personal safety.

Do not order Hardware Wallets, Bitcoin stuff or things from obvious Bitcoin accepting stores delivered to your personal address.  If 'Bitcoin Shop' appears on the parcel, the courier is not some body to be trusted.

Try to avoid using clearnet for searching any thing Bitcoin or Cryptocurrency related whenever possible.  What if a worker of your ISP you are using is ill intended and nosy and has access to information about your history?

Obviously, no posts about Bitcoin on Social Media.  The reason is pretty common sense.

And much more.  My point is, try to think twice every time you do something Bitcoin related.  You never know who the perpetrator could be.

Just keep your mouth shut never talk about the bitcoins you have to others even when you have a lot of money plus gold stored at home you will be the next target of robbers we never know how they do it but about the finances you have then it must be kept secret.

There are still many people who always want to show off what they have now including BTC earned from profits or whatever you can tell all your friends automatically labeled as a lot of money that will be utilized or a target for theft.

I will be silent about success and even the bitcoins I have have never told anyone else except the closest person who is sure to be trusted, such as a wife.

I agree with this. Keeping all your eggs in one basket no matter how strong it is can always cause problems if something happens with the basket. Similarly, if you are keeping all your Bitcoin or other assets in a single wallet, you are making a mistake and that is now how you should be doing this, but instead, create multiple wallets and split your assets in those wallets and make sure you use very secure wallets so that your funds stay safe and in case something bad happens, you won't lose all the funds.

One should also make sure that they are backing up their wallets in different devices and aren't keeping all the keys and phrases in one place because then it wouldn't make any sense. If someone puts a gun on your head and asks you to open all the wallets with those keys, you won't have a say.

This is why, security must be the first priority, and after that, privacy. As OP said, don't discuss your finances with anyone no matter how close they are to you.

People cannot tolerate the success of others so they will hear they you are bitcoin investor then they will make target you to snatch your all bitcoins. But those who are familiar with bitcoin and know the success rate of bitcoin as well as the greedy thoughts of others will never trust anyone and will never share their investment with any relative, friends or stranger.

You should feel threat from those who have information about bitcoin because they know better that what things are necessary to get access to bitcoin but those are not dangerous for you who don't know about bitcoin because they will not believe this things and will not be able to steal your bitcoin.

I think everyone should save their bitcoin in different wallets and should not keep all asset in just a single wallet because if there happens such situations of stealing then only a single wallet will be hacked but all the remaining assets will be in save place.

Lol, that is true. Having coins stored in different wallets can help decrease the losses from theft.
But if I have a multi sig wallet with 2/3 sigs and if we tell the thief that the rest of the 2 keys are at different places.
And that we have to go there in person to retrieve the key then don't you think the thief will get frustrated and leave the place ?
Or may be he will just kill us and leave 

If that's really the case that someone's going to ask that from you at a stick up, then it's going to be easy for you to pinpoint who's taking shots at your bitcoin stash, this only works when you're quite about your bitcoin investments though so keep that in mind. Now, as I've just said, it's going to be logical to think that these thieves/muggers are after your bitcoin because someone's paid them to do so, that's the only reason and most of the time, muggers want quick cash and most of them are on the room temperature IQ so holding a bitcoin hodler at gunpoint isn't really their best option so yes, give it up when they ask for it but in the case that you'll survive that traumatic encounter, it's probably for the best that you start doing some investigations, people that have this diabolic intentions are stupid to some level anyway so a little bit of tracking in the blockchain of your stolen funds, you'd be able to find out who's the person behind.

That's a bad idea, because no matter how much you think you'll get away with giving someone only 10%, what will happen if that person/s decides to check if you're telling the truth or maybe you're lying? There is a very painful game that no one would like to try on themselves - it's called "this finger goes in..." and considering that most of us have 20 fingers in total, the game can be very painful and long-lasting.

A piece of advice sometimes even worth your life - don't brag about your wealth, unless you're a popular showbiz person who lives under protection 24 hours a day.

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.

I don't see any benefit of bragging the amount of Bitcoins that you're holding to other people.
No benefits. Just pure risk. Risking your security for the sake of what?

I mean there's no reason at least for me to brag that I'm holding X amount of Bitcoin. I might say that I'm holding some Bitcoin, but I will not tell the amount, and I will teach them how to invest into Bitcoin instead of bragging.

Bragging about Bitcoin means increasing your risk or bringing your own danger. Because there is nothing to be proud of. So don't make the mistake of telling anyone about your own crypto. You are not allowed to reveal how many bitcoins you have in storage. It is most important to keep it secret. Because it helps protect your privacy and security. It also reduces the risk of theft or fraud. Because if someone knows the amount of bitcoin you have, they can track you. To access your wallet or your user to track the wallet or your system. This is why I consider it safe to store BTC in multiple wallets. Although MultiSig is a really great feature that protects an investor's Bitcoin perfectly,.
However, if I'm not mistaken, CitBitCty made a thread on a somewhat similar topic a few days ago. https://bitcointalksearch.org/topic/m.63658943

Agreed, we should never disclose our holdings or even say we have holding huge chunk and I rather prefer a very low profile when it comes to Bitcoin and don't even jump into conversations when people discuss about Bitcoin in real life as we will be the easiest target if someone happens to figure out we had Bitcoins and at gun or knife point there is no way one can get out without coughing up the information. It's advisable not to boast about your Bitcoin or any crypto holding with others as there may be third person observing it.

We should learn on being reserved with what we have invested on bitcoin, its not by force that we should keep announcing ourselves to the world or claiming that we are having a particular rate of investment on bitcoin, we don't need to brag because we are not impressing anyone, instead, doing such could put us more in danger, many have invested in bitcoin because they needed to retain and have their financial privacy back from centralized institutions and government, it will not make any tangible efforts or benefits on us if we go public with what we are up to in bitcoin.

To be honest, I've been considering a case like this for quite some time, because even though I've never told anyone about owning Bitcoin, information can easily spread by word of mouth and we can't prevent it. Therefore, there are several alternatives where I have to divide my holdings into several wallets and several devices. So this can give me enough time to avoid losing all the assets I have. I'm not going to put it in a 1 container that if I lose it will rob me of everything I own. The risk of distributing assets is also the same, but when compared with the risk in one basket, the first option can still save me from threats, indeed someone has to be sacrificed if an undesirable event occurs, be it a robbery or an accident.

May God always protect me!

It is a good idea not to openly discuss or flaunt your wealth to others. It helps protect your privacy & security, reducing the risk of becoming a target for theft or scams. It stops jealousy & potential strain in relationships. Also it allows you to focus on genuine connections & meaningful interactions rather than being defined by your financial status.

You have got things wrong here, if your device is compromised or your backup exposed and you lose your funds, you cannot get it back with your seed phrase, because the attacker is going to send the funds into their own wallet. Yes, BTC is stored on the blockchain and whoever has access to the seed phrase can spend the coins.
Multisig set up is a good extra layer of security, but you have to know exactly what you are doing, i.e. some people set up a multisig wallet in a single device, and this defeats its main purpose. A passphrase is also a good extra layer of security and it is great for plausible deniability.

OP, while I agree with you that it is risky for a Bitcoin investor or a Bitcoin holder to expose his/her assets worth to some trusted friends, it can also be extended meaning the good testimony of yourself you think it was worth sharing amongst you and your friends would not only remain between you as a friendly or family hoods but would be extended from person to person and on that note, someone that might even be related to you might have that evil mindset towards you and not even the primary persons you formally exposed yourself to that would have you for a treasury hunt.

But talking about how you can recover your stolen Bitcoin through which you loose guarded with your seed phrases is worth in doubt about.
I dearly disagrees that a lost fund can be recovered at the basic of you recovering your lost seed phrases again.
What I am sure of is that on a case like this, you can only regain access to your Wallet.

And moreover, Bitcoin does not have a backup phrase instead the blockchain which it is stored as a wallet does. The only option to regain your lost Bitcoin is either by trace through an authorized securities in the blockchain which takes processes and basically not on the track of implying recovery of your seed phrases.

As a crypto investor, you should be discreet with your investment to avoid attracting unnecessary attention to yourself because not everyone that smiles with you have your best intentions.

I hope you know that creating a multisig wallet and having all the keys to yourself or at one location does not make your Bitcoin safe? As a matter of fact it's goes against everything that multisig wallet stands for.

I believe you wanted to write device. And yes, it's advisable to have multiple backups of our seed phrase in different locations incase your device is lost or stolen, you can still lay claim to your Bitcoin.

There are many things that you shouldn't speak about, things that you should keep privately to yourself, like the exact amount of bitcoin or a suggestion of how many bitcoins that you own.

Leaving suggestions of the amount of bitcoins you own can make you a target for whichever of the people you call friends and entertain or even family members to prey on, and you may never know until your bitcoins are gone.

Tell people about bitcoins, but don't over share and leave suggestions of how much you have been able to accumulate.