Do not share your bitcoin holdings with everyone - page 13.

Texac

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Quote from: Ale88 on November 02, 2023, 09:29:25 PM

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 telling people how much bitcoin you own should be like a basic rule, especially for your own security. If you really want to brag about it eventually just say that you had X bitcoin, you sold them, and you made a huge profit, but make sure to specify that you don't own any more bitcoin at this point. Anyway personally I would avoid also this option, some people may just believe that you still own bitcoins and may come after you anyway.

This probably won't guarantee your safety either, maybe they don't just care about your bitcoins, they also care about how much money you have. if you say you own a huge amount of money, it's like you're bragging and you're also in danger. a thief or robber who steals your bitcoins will also convert them into fiat currency that they can spend, so bragging about having a lot of money or a lot of bitcoins is no different. the best way is not to brag about anything involving large amounts of money to anyone.

NeilLostBitCoin

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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.

He learned a valuable lesson about the dangers of arrogance that nearly cost him his life. Anyway, I think it's okay to mention it to your family or loved ones just in case something happens. But other than that, saying it mostly with anybody is like suicide.

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Quote from: Ale88 on November 02, 2023, 09:29:25 PM

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 telling people how much bitcoin you own should be like a basic rule, especially for your own security. If you really want to brag about it eventually just say that you had X bitcoin, you sold them, and you made a huge profit, but make sure to specify that you don't own any more bitcoin at this point. Anyway personally I would avoid also this option, some people may just believe that you still own bitcoins and may come after you anyway.

It is best to keep secret rather than tell anyone if we think it is threatening. Now, we realize how important to keep our privacy because more people have an interest in your life and even have a bad plan when they know you own a lot of Bitcoin. That is why we should be careful when talking about Bitcoin, they might ask us about it but should not mention that we are holding it. Though it was an isolated case, still we need to anticipate such a thing because we never know what is inside their mind, and whatever it is at least we are prepared.

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Quote from: lienfaye on November 02, 2023, 07:45:27 PM

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.

Sometimes we just want to show off our achievement or what we have because we're proud of ourselves. But too much flaunting like this can put yourself at risk without you knowing. It's because not all are happy, some are envious resulting for them to commit such bad deed.

Therefore, it's not advisable to flaunt your wealth (not just your crypto but in general). Keep it a secret if you can so that others won't know. Trust no one especially nowadays that even family members can be toxic and greedy. This is not often the case but still happening in reality.

Be careful with people and don't place your trust indiscriminately, especially with people who are not your relatives. There are also some cases where relatives become greedy, causing harm to us, but that is not too common. Therefore, we do not need to always doubt people, especially family members because suspicion will create distance between relatives. We want them to trust us, first of all we also need to trust them, bitcoin is just money and can be earned back at any time. But family affection is something that, if lost, will be difficult to regain, so you need to behave wisely.

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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 telling people how much bitcoin you own should be like a basic rule, especially for your own security. If you really want to brag about it eventually just say that you had X bitcoin, you sold them, and you made a huge profit, but make sure to specify that you don't own any more bitcoin at this point. Anyway personally I would avoid also this option, some people may just believe that you still own bitcoins and may come after you anyway.

bayu7adi

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Showing off wealth on social media or in public places proves that someone doesn't understand the meaning of privacy. Money is a sensitive matter for everyone, even when it comes to your friends. We never know what someone might plan if they find out that someone they know has a lot of money.

Theft, social inequality, negative attention, pressure, and more can become new problems for those who flaunt their wealth. The most frightening thing is the security threat, where anyone might do something reckless for money. They could even harm your family members or close friends if they realize that your money can be taken that way.

I myself have experienced this because when I first had money, I was never taught about ethics and financial education. Now, I have many friends who always borrow money from me for reasons I don't know. Many of them find it very difficult to repay their debts, and it's detrimental to me. I realize that more harm arises when we showing off our money.

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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's a foolish thing if you share your investment with the people. Bitcoin is a popular thing, but many people out there don't know, and consider that some people are rich because have it even you own only a few BTC. By my experience, I showed my 0.1 BTC to my friend about 5 years ago. I just sold at that time, but until today, my friend still consider me as richest people who own bitcoin, even it's not much, but because he won't know the value and always hears the news if many people suddenly get rich because of bitcoin, my friend always consider me as one of richest people who own the bitcoin.

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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.

Sometimes we just want to show off our achievement or what we have because we're proud of ourselves. But too much flaunting like this can put yourself at risk without you knowing. It's because not all are happy, some are envious resulting for them to commit such bad deed.

Therefore, it's not advisable to flaunt your wealth (not just your crypto but in general). Keep it a secret if you can so that others won't know. Trust no one especially nowadays that even family members can be toxic and greedy. This is not often the case but still happening in reality.

adultcrypto

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This is a sensitive information in my opinion and sensitive information should remain a secret. There is a great advantage of keeping your Bitcoin holding secret. You will be bringing so much attention to yourself when people know how much you are actually worth; this can be a huge security threat.

Apart from ego, it is really not necessary makings ones Bitcoin holding public. The temptation is actually high but we must resist disclosing this information to the public.

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Quote from: Zaguru12 on November 02, 2023, 10:43:21 AM

This advice should be just straightforward do not flaunt your wealth. If you use the search function you will see members have created this kind of threads and posts warning of this. It doesn’t only exposes you to the government eyes but also exposes both you and your family to dangers. Sadly this is one of the many bad things social media has introduced, many People mostly Gen Z flaunts themselves and don’t see it as breaching their own privacy.

Also many people have had this bad narrative that those involved in bitcoin investment are super rich people because they make profit everyday. So when news of you having them go out you are at a huge risk of getting kidnapped or killed for it

Well, the Bitcoiners who were smart enough to hodl became insanely rich, so that is where that stereotype comes from. If you can call it a stereotype in the first place? Roll Eyes

I agree with you that people should not flaunt wealth. Anyone who flaunts their wealth deserves what he/she gets. That is something that is especially idiotic to do if one lives in a poor place.

Some people have absolutely no situational awareness. You see this in the westerners who fly to third world countries because in their imagination, they will somehow help or save the people living there. Or if they are even worse in character, they go there to exploit the third worlders. But the truth is that, in the end, they get themselves get exploited and abused.

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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.

Never trust anyone even if it's your family and loved ones. Sometimes, those people will be the one to put you in danger. That is the reality especially when money is involved. Even if your intention is not to brag what you have, but eventually when other people see that you have better achievements than them, that's where envy starts to develop. And when it happens, the essence of family and loved ones is not felt anymore because envy surpasses.

However, I'm not saying this generally as there are still relatives who celebrate with your happiness and achievements, except for those who don't want to feel being surpassed or exceeded.

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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 the importance of maintaining the privacy and security of our assets and ourselves. Maintain our privacy, by not sharing the assets we own in cyberspace, social media, or directly to other people around us. Because after all, evil is extraordinary, and can happen to us anytime and anywhere. Crime can be in the form of cyber crimes which can easily hack or steal our digital assets. Or also direct crimes, like those in this thread. I don't know whether it's true or not, but, this makes sense. When someone knows our assets and that person wants them, then crime may be created. We don't know what is happening to other people and what they are experiencing. We should not trust anyone too much, especially those closest to us, especially regarding sensitive matters like this, namely money.

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Quote from: serjent05 on November 02, 2023, 05:55:30 PM

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 advice does not only include Bitcoin holdings. Anything that is valuable should not be flaunted and bragged to anyone, especially on social media platforms. Showing one's wealth brings the temptation to ill-intentioned people. This will put a person and his family's life in danger when someone is triggered to rob the person of his wealth.

It is better to be humble and keep our financial status hidden from anyone. It does not hurt to not receive praise that we are good/great people because we successfully accumulate huge amounts of money. In short better to keep a low profile and be safe than be acknowledged as high-profile but being targeted by wicked people.

I concur that unless you have had a long-term, true faith in something, you shouldn't tell people about it if it's essential to you. Because confidence is frequently betrayed by those who suddenly exploit it for their own gain based only on what they learn from having been trusted.

We also have no power over other people's thoughts, so it's still critical to know who you can truly trust. It's also preferable to be quiet and keep things simple rather than bragging to others about your own experiences. Because we occasionally talk so much that we fail to recognize that we are endangering ourselves.

GreatArkansas

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I am really curious why some people are really happy or willing to share their holdings or like worth. Especially in Bitcoin which we all know it's still new and some people misunderstand it like they don't fully understand.
Because here in our country, some people always thinking if you have Bitcoin, you already rich Cheesy

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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.

At least this has got a good ending, unlike the other stories that have been published that they have never recovered the funds that were robbed to them and even taken the lives of the owners. This is one reason why you should just shut your mouth when you're talking with other people. There's no need for you to be boasting about your holdings or just tell that you've got some knowledge but you are unfortunate that you haven't bought at the lowest price because of the volatility.

The real-life that we're dealing with is full of people that you have to deal with and shouldn't be playful to them. Just limit the information that you're going to spit on your mouth because ill intentions could be made when you're enticing with everything that you say and the person you're talking to is also dealing with some hardships.

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

Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

Never do that personally and even on online. Don't be comfortable to tell anything about your assets to other people because when you are on the spot and they kidnap or harm you, can you do anything with that? No. They are prepared but you're not prepared to protect yourself so just shut your mouth and let the conversation be on them to focus.

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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 advice does not only include Bitcoin holdings. Anything that is valuable should not be flaunted and bragged to anyone, especially on social media platforms. Showing one's wealth brings the temptation to ill-intentioned people. This will put a person and his family's life in danger when someone is triggered to rob the person of his wealth.

It is better to be humble and keep our financial status hidden from anyone. It does not hurt to not receive praise that we are good/great people because we successfully accumulate huge amounts of money. In short better to keep a low profile and be safe than be acknowledged as high-profile but being targeted by wicked people.

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Quote from: LogitechMouse on November 02, 2023, 05:00:49 PM

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.

TBH, I don't know what's the reason why do we need to brag our portfolio to other people?

I mean there's nothing wrong with sharing that you own cryptocurrencies, but to share the total amount? That lessens your security because things like the OP shared can happen. I know not all of our relatives can do such things like this, but always take note that anything can change when there's money involved.

Well anyways, I guess the best thing to do is to not share to anyone your total holdings. Saying that you own cryptocurrencies is enough already, and if there's a chance, you can teach them how to do it as well. Don't brag it like you are the richest man already, and try to help your relatives so that it will not end up like this.

Exactly, when it comes to money, specifically with crypto investment, sharing it to the other people or even with your relatives is a NO. Hiding your money to the relatives doesn't mean they are not trustworthy, but I don't see any valid reason for doing so. Who would know what the other people can do for money. Also, bragging your own portfolio might lead your life to be in danger.

Yes, as there are some people who can do anything for money. Letting anyone know the amount you own especially in cryptocurrency should not be done. It's enough to have other people/relatives to know that you have crypto or know about crypto.

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Lesson learned: never ever share anything on social media. Well, it's not bad to share your achievement, but do not brag about it, and never share the wealth you have because that's when scammers or people who take advantage of people do so. You see, that is the problem now. People always share even the little things on social media; it's like a new norm now.

I also have friends who flex their bitcoin things or their trading journey or screenshot, which I don't contradict, but the thing is that they give the wrong idea about bitcoin or trading to the viewers of their posts or stories. Beginners in bitcoin will think that it is easy to earn in bitcoin, and if those viewers of their stories or posts nag them, asking for help on how to earn, which is a hassle because they want to learn bitcoin just because of the money. That's why I'm not a fan of flexing my achievements and earnings on social media.

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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.

TBH, I don't know what's the reason why do we need to brag our portfolio to other people?

I mean there's nothing wrong with sharing that you own cryptocurrencies, but to share the total amount? That lessens your security because things like the OP shared can happen. I know not all of our relatives can do such things like this, but always take note that anything can change when there's money involved.

Well anyways, I guess the best thing to do is to not share to anyone your total holdings. Saying that you own cryptocurrencies is enough already, and if there's a chance, you can teach them how to do it as well. Don't brag it like you are the richest man already, and try to help your relatives so that it will not end up like this.

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Quote from: Vaculin on November 02, 2023, 04:56:50 PM

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 a very basic rule but it seems it's so hard for majority to follow. Why? Because we have this attitude that if we share our successful story to other people, we can inspire them to do the same thing and experience the same success. But its not happening in reality, it will only make them feel belittle and its like you are underestimating their own skills and capabilities. Until they become offended and get back to you for revenge.

This is why instead of sharing everything we have most especially when it comes to the success of our bitcoin investment, its better to save it on our own and never disclose anything about them. It's safer that people will think that we have no bitcoin hodlings or any expensive investment with us so that they won't think of getting an edge over us or trying to think things that will put ourselves in danger.

Not really that totally a rule but rather it is really just that something which your common sense would really be telling you, you wouldn't really be that just so dumb on easily trying out to proclaim on how much money you do have, doesnt matter if its on crypto for or would really be in fiat form. Tendency or chances for you to have those life threatening situation would be high and this is something that we must avoid. Disclosing or sharing up
on how much you do own and i do agree on some points earlier that even your relatives would really be having that hidden jelousy considering that no one really likes in overtaken or specially seeing that you are living a life which is really that much better compared to them then it would really be just that normal that getting envy would really be there. The worst thing on here is that when that kind of feeling comes more severe
then this is where wrong intents and plans would really be mold up and this is why we should really be that careful.

Topic: Do not share your bitcoin holdings with everyone - page 13. (Read 2726 times)