Do not share your bitcoin holdings with everyone - page 11.

bayu7adi

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Quote from: bhadz on November 03, 2023, 05:22:34 PM

And that is because I've got some gut feel with that conversation if I prolong it and tell a lot of things, it may go somewhere and I just don't like to talk to that guy. Sometimes we just have to set it to the people that we're no longer into it, these days are dangerous where people can't deal with how hard life is because of inflation, layoffs, etc.

It's smarter to avoid risky situations rather than taking unnecessary chances. Besides, there's no real benefit in showing off our wealth to others. It only makes social inequality worse because money and wealth are something that should be kept private. instead of seeking recognition, it's better to focus on self improvement to become more productive and better.

Talking about Bitcoin is fine, but never disclose the amount of money you have. Blockchain technology is indeed worth discussing and teaching to those who are interested in learning about it. we all understand that technology keeps evolving and updating. It's natural for many people to want to explore new technology and find mentors. What's unnecessary is bragging about your riches.

Learn Bitcoin

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This is one of the worst things we do. I usually shared with my friends how much I was holding at that moment when I was new to Bitcoin. But the government banned any kind of cryptocurrency transaction in my country. So, I am trying to keep my privacy as much as possible. The mobile device becomes a problem at this moment. We use it, and there are several crypto apps, and my browser history also shows I am a crypto user. Anytime, a random police check can bring me to jail.

Quote from: mk4 on November 02, 2023, 10:48:38 AM

Yep — applies to not only bitcoin and crypto, but your wealth in general. It's simply the most nonsense thing ever as all you're going to gain is a bit of bragging rights, in exchange for a dozen of potential problems. Next thing you know your friends and family are now trying to loan money off you, and a kidnapper with a $5 wrench is waiting for you around the corner.

https://chainsec.io/wrench-attack

The problem is people know Bitcoin is easily accessible, and it takes no longer than ten minutes to transfer the funds, and once done, it cannot be recovered.

Bd officer

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As we know Bitcoin is digital crypto currency, investing in Bitcoin must be kept secret. In addition, there are countries where Bitcoin laws are not valid, so more caution should be taken for those countries. Be careful not only with Bitcoin, but with fiads or other assets. At present one cannot see the good of another. If you live happily and peacefully, no one else will tolerate it. OP, in the case you heard about in the news, the person who demanded bitcoins as ransom may have known about bitcoins before. Or else, the person wanted to introduce his relative to Bitcoin and showed him his Bitcoin investment. So if you want to give someone an idea about Bitcoin, you should never tell anyone about your Bitcoin holdings. However, investing in Bitcoin is best kept secret.

GbitG

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

In such cases, one should be very careful because, as you said, a person suffered from problems due to showing Bitcoin holdings to a relative. If seen in reality, a similar incident could result in the loss of a person's life or property. Wealth and everything else can be lost if not done carefully.

In this context, I am sharing an incident that I hope you have heard, but I am telling it again on this occasion. A Brazilian crypto streamer known as Fraternidade Crypto lost 60k on August 31, 2023. The reason for losing his money was that he accidentally leaked the private key to his wallet, and the viewer saw and stole $60k from him.

So the point of saying this is that one should be very careful in this kind of issue because one small mistake can demolish you. Be it showing someone you were holding assets or leaking a private key, both can lead to loss or even death. Whenever you have to take any action, you should think carefully because you can also become a victim in the hands of these thieves and malicious people of property.

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

Everyone knows that keeping your holdings a secret is probably the best way to go about it. Exposing your finance to your loved ones or people around you is probably not the best way to go about it especially when those people are just mere friend and I say this because the world is filled with wicked people and you can't exactly identify these wicked ones.

bhadz

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There is a guy who randomly asked me if I'm still into crypto. Yeah, he's actually not a random guy but a friend who doesn't usually approach me. I've said that I am no longer into it and sold mostly of my holdings because I have panicked. He's trying to offer me something and that's likely related to money laundering but I just kind of feel that I shouldn't tell the whole thing to him because out of nowhere, he messaged me.
And that is because I've got some gut feel with that conversation if I prolong it and tell a lot of things, it may go somewhere and I just don't like to talk to that guy. Sometimes we just have to set it to the people that we're no longer into it, these days are dangerous where people can't deal with how hard life is because of inflation, layoffs, etc.

Odusko

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

One thing that Bitcoin helped us to achieve to a great extent is privacy and freedom to be unknown and how much money you have, this is so because with bitcoin, no one can tell hiw much you have as an asset unless those that you expose your financials status to and which in most cases i see as irrelevant and risky to do so.
Its best you stay and remain anonymous with how much Bitcoin you hold, just invest and disappear, let time do the talking on the long run and also making sure that you protect your privacy at all times to avoid such as this attacks on your finances, I hope he got such an amount of Bitcoin as the kidnappers presume he has, so to be able to pay the ransom.

gunhell16

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Quote from: Orpichukwu on November 02, 2023, 10:45:24 AM

In the society in which we find ourselves today, being wealthy alone makes you a target for kidnappers, and it creates more enemies for you as a human. Your financial life should be kept secret from the eyes and knowledge of others. That way, you can rest assured of your own personal safety.

It has already been said that time without privacy matters a lot. It's not just because you want to hide your identity, but for security reasons. If one starts broadcasting their bitcoin holdings, then there is no privacy attached to their investment; they can just add a name tag to all their addresses so that people will notice how wealthy they are in crypto.

Only those who are looking for attention always share their holdings information, and their reason for such is what I can't really figure out as they always fall victim to either being killed, rubbed, or any sort of criminal assort.

You're right in what you said; when you're really rich, you don't flaunt your wealth because your life will be in danger. We know that nowadays it is very difficult to survive, and it is very difficult to earn money at the same time, to be honest.

That's why I sometimes don't understand others who show a lot of money to other investors just to encourage them to invest in their supposedly promoted business. Usually, those who do this are exploitative people like scammers, hackers, and others. So it is not really advisable to disclose the assets you have here in the crypto space.

HelliumZ

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Quote from: Mr.suevie on November 03, 2023, 04:18:11 PM

Hiding your Bitcoin or any other of your finances is essential in a world that's filled with wicked thought about people success and what the OP related is exactly an example of why one should keep his holdings or any form of wealth a secret. There is this serenity that comes to everyone when there is not much details of his or her finance because no one actually knows how to get to you or be jealous of you because their nothing to envy and be jealous about.

Intense attachment to wealth leads to envy and greed in people. Jealousy about Bitcoin will surely lead to serious crimes like kidnapping, murder and injury for Bitcoin later. So those who are holding bitcoins are definitely not required to publicly disclose the amount of bitcoins they hold. Will try to steal your bitcoins with greed for wealth and violence. However, you must be careful while walking on the roads. Otherwise any time the robbers can have a bad influence on you to steal your bitcoins.

Mr.suevie

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Hiding your Bitcoin or any other of your finances is essential in a world that's filled with wicked thought about people success and what the OP related is exactly an example of why one should keep his holdings or any form of wealth a secret. There is this serenity that comes to everyone when there is not much details of his or her finance because no one actually knows how to get to you or be jealous of you because their nothing to envy and be jealous about.

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

This news is out to prove that you can never trust a single person once money is at stake. Whether its a relative or a close friend, you should always set a boundary between the two of you. That way, your privacy will always be safe as you chose not to share every private information that needs protection. And this is where we should learn to live life being lowkey. You don't have to flaunt your wealth but keep it on your own. Otherwise, the way you tell others that you have bitcoin in your life will push them to plan a bad attack on you simply because they want to steal what you have that they even don't have.

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

I mean it's common sense though, you shouldn't flaunt your wealth in social media simply as that. We have heard a lot of knows about kidnapping and the $5 dollar wrench attack.

Here is a good read:

https://chainsec.io/wrench-attack/

Quote

1. Keep it private

2. Prevent getting unwanted attention

3. Have better home security

4. Learn martial arts

5. Set up a dummy wallet

The moral lesson here is that everyone should be low key and at least remain anonymous in the crypto world. Don't tell anyone about your bitcoin holdings as this could have dire consequences later.

oktana

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It is not just about security; it’ll also avoid unwanted attention. When you share your Bitcoin holdings (or wealth in general), you would most likely attract the attention of friends, family, or acquaintances who might ask for financial support, and this can birth uncomfortable situations or even strain the relationship you have with that person (it would be very bad if it occurred with a family member). So keep it to yourself, before you end up hearing everyone’s needs and wants.

Sanitough

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

Not only bitcoin but certainly in all investments that you are currently into. Learn to live life privately and keep sensitive information only to yourself. Even if you say your relatives deserve to know about your investment since they are asking too, but know that when it comes to money, you can never trust a single person even if he is part of your family. That is why it's best to keep your mouth shut about your current investment and achievements in life. You don't owe any explanation for them as each of us has a private life that we need to protect.

Lorence.xD

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Quote from: Publictalk792 on November 03, 2023, 12:44:47 PM

Yes of course my dear friend. This will be harmful for you or for that person who will show its holding amount of Bitcoin or any other crypto. Like you have mentioned a story which is totally telling us a moral. Which is that never show your holdings to anyone. So if anyone will do that so he/she can face a tough time because anyone can do anything bad and can ask you to withdraw your holdings and will ask to send it to him. So always show your holdings to a trusted person.

Revealing that you are owning a Bitcoin especially to strangers could literally be a threat as they might do illegal things just to attain your holdings like hacking your device, stalking and worst is violence. That's why it's really better to share your Bitcoin experienced to people you trust and you know that they would acknowledged your introduction to Bitcoin, because we know that the common reason why some people share their Bitcoin experience is to spread the benefits and opportunity they can get from Bitcoin. Plus in case of emergency like something bad might happened to you, then there's someone that can help you to recover your funds.

Y3shot

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

This is not just about bitcoin, but anything that has to do money or wealth. The person was kidnapped because the people understands that bitcoin have value and they might have also know the amount of Bitcoin he has in the wallet. If it was also fiat they discovered that he had the same incident would have happened. People just need to be very careful keeping their wealth secrete to themselves, and to reduce the level of flamboyant life they live, this is the easiest way of letting people know how much one is worth.

SOKO-DEKE

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

That is why it is never a good idea to tell people much about yourself, because that will later be the channel that they will follow whenever they want to attack someone. I may say that if nobody knows much about it cryptocurrency involvement, they could not even kidnap the person because. But I don't know why some people love telling so much about themselves to people or
show much about themselves in social medias especially when it term of their financially abilities,but may be they doing it to gain respect because I don't see why I need to tell people so much about myself, if not the reason of respect people are looking for.

Bitcoin investment It is a very calm and cool privacy investment that if you don't tell anyone about yourself, they will know nothing about you. It is not like others physical investments. In fact, nowadays, anyone who tells a person that they are into bitcoin investment will always assumed that person is rich because they know the value of bitcoin. So the idea of someone exposing themselves to people can easily lead them into different which can even make them lose their life's in short even their families.

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Quote from: Natsuu on November 03, 2023, 06:04:07 AM

I feel bad about him. It’s not his fault that he shared his investment to a relative.

It is his fault for showing his cryptocurrency investment to relatives because humans will always be human and we have seen good people go bad because of money. Besides, the news of crypto investors getting killed and robbed by close friends/family should be a lesson for him.

Quote from: Natsuu on November 03, 2023, 06:04:07 AM

Why do those people who take advantage of the fortunate ones exists.

That's because it's human nature to be jealous but every human that can't control his/her jealous buzz will lead into something else and that is the case of what happened to the person OP was talking about. Besides, this reminds me of Fernando Perez Algaba a crypto billionaire who was murdered years ago.

chmod755

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Quote from: coolcoinz on November 03, 2023, 01:08:50 PM

The advice is good and I agree that it's important not to brag, but on the other hand you want others to know about this opportunity.

I told some people that I made crypto profits in the past, but I did not tell them that I still own some cryptocurrency.

Profits in the past are not an indication that people will profit from crypto in the future, maybe something else will replace cryptocurrencies completely...!

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Quote from: arhipova on November 02, 2023, 10:34:24 AM

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

I have also heard about lots of kidnapping news and the kidnappers asking about Bitcoin wallet accessibility. Whenever we improve the safety of our income by using technology and create new income through new technology, we should also be alert to scammers both online and offline. Online scammers are stealing our money and data; robbery and kidnapping are situations that are even more threatening or dangerous to our lives. Bragging about our income directly or indirectly leads to trouble, not only from strangers, but most close ones are the real culprits sometimes. So apart from trading and making money, learn how to safeguard the money by using technology.

Topic: Do not share your bitcoin holdings with everyone - page 11. (Read 2726 times)