DO NOT BRAG ABOUT YOUR BITCOIN - page 8.

Outhue

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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.

I will take this as a good enough advice but saying that you are a Bitcoin investor is different to saying that you have 100 Bitcoin in your wallet, everyone is a bitcoin investor in my country but wait till you see the balance, even someone with $20 Bitcoin counted himself as a investor.

It is only those who made mention of their worth that will likely face a problem, its just like having money, everyone has money, but there are levels of money that draw attention, so let's say that everyone has Bitcoin but the amount they have is all that matters.

To tell the truth, I have never seen anyone saying that they have a certain amount of Bitcoin, even $5 in Bitcoin is still Bitcoin, this keeps them safe, but the moment you let the world know that you have 2 BTC upward you are inviting dangers to your door step, like I've said its rare, I've never seen anyone exposing the amount they actually own.

Zlantann

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

Don't go blabbing your mouth to everyone about your Bitcoin stack.

This advic is not just for Bitcoin owners or hodlers but in all aspects of people's financial life. There is no need telling people how much you own because you will be simple calling for unnecessary attention. I prefer to live a simple life that is why I chose Bitcoin because it can hide your worth to a large extent. Bankers know how much you are worth, so banks cannot maintain privacy, but Bitcoin is different because you own the bank.

Pride and loquaciousness are some of the reason why people carelessness reveal what they own. It is now common for people to flaunt wealth on social media because they want to gain accolades. People can now be track easily through the social media because they cheaply give out vital information on these platforms.

Quote from: adaseb on April 02, 2024, 01:14:50 AM

Yeah I already made the mistake of telling people about bitcoin in 2015 or so. And I never told them how much I bought but the problem was when the bull market of 2017 came, everyone assumed I was some crypto king. And they wanted money.

Or they wanted me to take their money and basically 10x it. Some guy needed like $50 K and he wanted to give me $5K so I can turn it into $50K by crypto trading. I obviously refused.

Hence don’t tell anyone about any crypto you own.

This is exactly the same mindset most people have about cryptocurrencies especially Bitcoin in my location. They just assume that anyone who owns Bitcoin is automatically a millionaire. Many of them are not aware that Bitcoin can be bought in bits so they just think you own one Bitcoin and above. I have introduced some persons to Bitcoin but they will never know how much I own because humans are unpredictable.

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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.

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. Divide your Bitcoins between several wallets and store them in a safe place.

There are many ways you can use to store Bitcoin. The important thing is that you don't tell many people you have Bitcoin. That is your secret that you must guard well.

Baki202

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Quote from: JunaidAzizi on April 02, 2024, 01:28:47 AM

Well, precautions are very necessary when we talk about the security of such an asset. Here most of the persons suggested spreading your BTC into multiple wallets so if such a situation can ever happen then you can just give one of them and the rest will be secure. If you can give at least one BTC it is also very workable but yeah the life of a person is much more important than a single BTC. So when all is talking about multiple wallets why someone is not focused to tell him that do not talk about your Bitcoin even to your loving ones if you want to secure your life as well as your BTC. I saw some people continue making the same mistake when they talk to their friends in a public place and talk about their assets like I don't know what the aim of this is. Are their asset increases by mentioning it to your friend or other people in the public place?

After everything is put in place, the security of your asset needs to be given a high priority because if you do not take it seriously then there is a high chance that you might lose your asset starting from keeping your seed phrase safe and away from online, and very good idea splitting your assets never taught of that, in this business you just have to learn to use your head or they will use it for you and if not that someone is close to me I don't buy the idea of disclosing my assets, because you can become a target.

The value of life is more than anything and you will always get another opportunity to be able to get more assets because the process of trying to resist they might just want to cause you harm since splinting is already suggested. you won't lose when you find yourself in that situation. I don't think have heard of anyone being rubbed physically for their Bitcoin so it's either they got hacked or manipulated but if it happens we have to be prepared.

btc78

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This is such a social dilemma. On one hand, you would want to share your success to others especially to friends and family who may be suffering also and in need of something to help. On the other hand, you need to think of yourself and keep yourself safe. It’s not bad to safe so it is ok to be a little suspicious of others sometimes.

Even when talking to other people about crypto, I never say how much bitcoin I own or if I even own any. That is something that is none of their business as much as their coin is not mine.

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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.

We should never brag anything about it nor tell that we have a lot of bitcoin since we might be at risky situation especially those people we told about it are criminal minded individual. So we should never think about doing it since we cannot get anything in return for doing that.

Much better if we keep silent on everything we do on cryptocurrency scene since nothing more better if we can sleep nicely at night without worrying anything danger that might happen to us. Simple bragging cannot give us any benefits so much better if we shut our mouth on this since sometimes some people may intercept our next move especially if we told them what is the next action we do.

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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.

Nobody keeps secret forever. There's always that one person we find a way to confide in. There's always that person who shares our dreams, foresight and aspiration. However, while talking about our success we should be mindful not to reveal all. Keep your jokers to yourself.

Quote from: adaseb on April 02, 2024, 01:14:50 AM

Yeah I already made the mistake of telling people about bitcoin in 2015 or so. And I never told them how much I bought but the problem was when the bull market of 2017 came, everyone assumed I was some crypto king. And they wanted money.

That makes the two of us 🧐. In fact, someone recently addressed me as a crypto lord simply because he was one of those I told about Bitcoin when I newly got into this industry in my exuberance to introduce them to financial independence. It sounded weird to me because the person he addressed as a crypto lord isn't even a shrimp. I'm less of a crayfish.

Dr.Bitcoin_Strange

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Those who openly brag or disclose their Bitcoin investment information are just ignorant of Bitcoin security and privacy measures. Bitcoin is a private asset, and although all transactions can be traced and seen on the blockchain, not every transaction on the blockchain can be traced to the actual individuals who carried out the transaction or owners of those Bitcoin. I remember last year, a user on this forum created a thread about a kidnapping case, and the kidnappers asked the victim to pay his ransom in Bitcoin, and that was because they were already aware that the victim was a Bitcoin investor. That incident suggests that those kidnappers have inside information about the Bitcoin holdings of that victim, and it must have been something he caused himself.

Bitcoiners ought to be extremely careful with whom they share their investment information, because if they give out such vital information to the wrong person, they will have themselves to blame because it can ravage their security and privacy and lead to lose of asset.

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Your assets and swallows are privacy that needs to be maintained, after all, why should you tell the value of assets owned to friends or others.
Wanting to brag about success with Bitcoin to get them interested, I'm not even happy with that kind of chatter.

Very boring when someone asks how you can get bitcoins, how can you get a lot of money with Bitcoin and such.
It will just waste my time without any benefit.

If you are an influencer and need more followers, then this kind of bragging is needed.
But not by publishing your main wallet, but just a number that shows how much crypto assets you have.

reagansimms

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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.

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Quote from: Sebas.tian on April 02, 2024, 02:11:58 AM

Telling people around you about Bitcoin doesn't mean they will have access to your Bitcoin without your permission, and if you can flash back how you got to know Bitcoin, do you have access to the person that introduced you to Bitcoin? No. All you need to do, if you want to spread the goodnews about Bitcoin to your family members or friends, don't show them your personal details and without them know your password and your seeds phrase, it will be difficult for them to touch your coins in your wallet. I think, many investors has sold their Bitcoin when the price hit $73,000 last month to make a passive income, and the market price is still struggling to hit back the price so that those who are still holding can use the opportunity to release their Bitcoin for sale.

True, but the most efficient and peaceful way of living while you are doing and enjoying the benefits of bitcoin, is to stay lowkey, no matter what other's will say about bitcoin or no matter how other people can flex their earnings in bitcoin its better to stay low profile so no one will bother you and also you will keep your assets safe, because a little information can be used and used as advantage to hacked you or steal anything from you, especially in social media, many with malicious intents are scattered in social media gathering and using the information's they are getting there so if you really want to be safe then don't flex or share anything about bitcoin in your social medias or anything in internet. That's how I manage to be safe against hackers or people whose intention is to steal from you or take advantage of your information and use it to scam you.

adultcrypto

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The main purpose of bitcoin is to achieve a peer-to-peer payment system with no middle person, this being a recognition of the need for privacy and confidentiality. So I doubt people rarely brag about their bitcoin possession and those who do are definitely doing the wrong thing. The risk of such attitude far outweigh the benefits of the pride and expected respect that can possibly come out of it. There is also the risk factor associated with disclosing your bitcoin holding to the public.

peter0425

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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.

I am for sure to not bragging to others but my wife and mother , because they are the two person that I ever trust in this world.

Quote

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.

if you are doing this just to impress others then you deserve to be in violence , because we are investing for the future and not to make others down of your assets.

Quote

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.

thanks for the advises but we are using cold wallets to make it sure that our investments are in safer position.

Sebas.tian

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Telling people around you about Bitcoin doesn't mean they will have access to your Bitcoin without your permission, and if you can flash back how you got to know Bitcoin, do you have access to the person that introduced you to Bitcoin? No. All you need to do, if you want to spread the goodnews about Bitcoin to your family members or friends, don't show them your personal details and without them know your password and your seeds phrase, it will be difficult for them to touch your coins in your wallet. I think, many investors has sold their Bitcoin when the price hit $73,000 last month to make a passive income, and the market price is still struggling to hit back the price so that those who are still holding can use the opportunity to release their Bitcoin for sale.

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Quote from: BALIK on April 01, 2024, 11:44:19 PM

Even though I don't like this, I won't deny that people who brag about their bitcoin investments on social media are making a lot of money and they have been living peacefully for many years. This depends on each country's security, not everyone will be in danger if we brag about our investments with the aim of making more money. There are many famous investors in my country who always brag and make extra money by bragging on social networks to call people to join their group. But the interesting thing is that they still exist from 2017 until now and I guess they have made tens of millions of dollars or even more through their investments and they have attracted many people into thier group.

Yes, they are indeed making cool money from their influence on social media, but they may also be targeted by numerous unknown individuals in real life. Most of these social media crypto stars lack a good understanding of how security truly works. They might know the basics, but unfortunately, a significant percentage of people who lose their funds are usually such individuals who lack proper knowledge on how to store their funds securely.

In some countries, they might be exposed to potential risks such as kidnapping and much more. It's crucial that as a Bitcoiner, you maintain your privacy and anonymity to avoid becoming a target. Additionally, I recently learned about passphrase security, where an extra word is added to your original seed phrase, creating hidden wallets for you. You can use different words with the same seed phrase, so if an attacker tries to obtain your seed phrase, you can provide them with a decoy seed while still being able to recover your real funds using the seed phrase plus passphrase. It's a really cool technique, but we shouldn't make our holdings known to everyone to avoid such risks.

JunaidAzizi

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Well, precautions are very necessary when we talk about the security of such an asset. Here most of the persons suggested spreading your BTC into multiple wallets so if such a situation can ever happen then you can just give one of them and the rest will be secure. If you can give at least one BTC it is also very workable but yeah the life of a person is much more important than a single BTC. So when all is talking about multiple wallets why someone is not focused to tell him that do not talk about your Bitcoin even to your loving ones if you want to secure your life as well as your BTC. I saw some people continue making the same mistake when they talk to their friends in a public place and talk about their assets like I don't know what the aim of this is. Are their asset increases by mentioning it to your friend or other people in the public place?

albon

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

Don’t share how much you have with others. This is yet another reason to use a multi-sig setup. [...]

We are less than a month away from the halving, so these tips came at an appropriate time, and although many topics refer to these tips, investors must be reminded again of the safety of their Bitcoin holdings. Truly, anyone bragging about the amount of Bitcoin can bring dire consequences. It may put him under legal scrutiny if he is in a country that prohibits crypto, and if someone with malicious intentions is listening, he might find a way to steal him. Therefore, I strongly agree with minimizing chatter in front of others regarding personal investments.

Also, multisig is a wonderful feature that I prefer to use through hardware wallets instead of desktop wallets. It perfectly protects the investor’s Bitcoin, as the percentage of his assets being compromised is very low. Still, the person must not lose the backups containing all the seed phrases of the wallets supporting multisignatures. These must be kept in very safe places and not be lost over time.

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Quote from: OcTradism on April 01, 2024, 10:40:52 PM

Prevention is better than any cure, isn't it?

If you are fearful of physical attacks, don't reveal anyone that you are a Bitcoin investor.

Known physical Bitcoin attacks

Interesting website, the only thing is that I clicked on a couple of links to see the source and they are broken.

I agree that the best thing to do is to keep secret how much bitcoin you have and if you have a lot it is even more important. As for you can enter your home and threaten your physical integrity, if I had a lot of money in millions I would have HW in several places so that if they enter your home and you can kill you transfer them what you have there but that is only a part of your total bitcoin holdings. For modest amounts, being discreet is enough.

adaseb

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Yeah I already made the mistake of telling people about bitcoin in 2015 or so. And I never told them how much I bought but the problem was when the bull market of 2017 came, everyone assumed I was some crypto king. And they wanted money.

Or they wanted me to take their money and basically 10x it. Some guy needed like $50 K and he wanted to give me $5K so I can turn it into $50K by crypto trading. I obviously refused.

Hence don’t tell anyone about any crypto you own.

Jawhead999

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

This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin.

Let's say you create 2-3 multi sig wallet, if you leave 2 keys at the same place, they can steal your coins.

Another possibility, someone can attack you with $5 wrench attack.

In order to be fully safe you're need to shut your mouth and never link any of your activities to Bitcoin or cryptocurrency.

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

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.

Some wallets didn't use seed phrase i.e. Muun wallet, if you have Muun wallet's back up, you can't retrieve your coins in other wallets except Muun wallet.

Topic: DO NOT BRAG ABOUT YOUR BITCOIN - page 8. (Read 1355 times)