Topic: Do not share your bitcoin holdings with everyone - page 15. (Read 2971 times)

About disclosing you wealth to your friends depends on the the kind of friends you have, there are friends that will give you good advice on how to manage your assets well sometimes two heads are better than one, but even at that you just have to be careful of some people that think they are your friends. The envy for the rich is always there, and everybody have there own story of becoming rich, when people see successful people. And to some extent I feel its not bad telling your family or friends about your assets but it should be selected. Bitcoin have good profit but it has its own timing. One of the best things is to have good friends, because they are aware of everything I do in case of anything comes up they know what to do.

Not just with bitcoins, never show off your assets to anyone, thieves or kidnappers, they don't just need your bitcoins but they will take anything of value from you. So, showing off your wealth to others is just stupid. Stories of kidnapping for ransom in bitcoin, or threats to rob bitcoin, are similar to stories of robbery of valuable property. I mean, not only should we not show off bitcoin, but even assets like gold or fiat should never be shown off. Bitcoin is just money, nothing to brag about.

This is why you need to stay lowkey despite of your life's achievements. Well, we can't hide actually from the people if we want to live a good life, but unless you're not making any sugar coat and you don't flaunt your wealth, then no one will suspect you that you are currently successful in your bitcoin investment or whatever investment you have.

A lot of people are living in luxury but without no life's issues. That is because they just live simply as it is, enjoying what they have, and not to obviously spread one's wealth just to sound boastful or to prove to the people around you that you are better and richer than them.

Even with simply with fiat or neither on crypto, its never been that ideal on sharing up information on how much you do hold. You are really just that putting your life and your families life into danger considering that
there would really be those people who do easily get jealous or simply having that criminal minds on which they would really be ending up on abducting you or your loved ones in exchange for ransome.
Specially if we do speak about holding tons or huge amounts of crypto on having huge value then for sure it is really that an advantage considering that it would really be a decentralized payment or transaction
on which there's no way that it could really be retrieved out once it would really be passed or transact it back by the criminal.

Sharing up confidential information such as this is really just that like that you are putting up a gun into your head. Its suicide! You are really that putting everyone at risks and danger.
Even if we do say that even relatives could really make out such intent if the jealousy is really on the rooftop. They are the ones that would really be making such act considering
that they've been aware that you are really that a rich guy. So better to be low key and never ever share up those important information which it could potentially put your life
in danger and also with your loved ones.

Not only for bitcoin but in all types of investment, you have to keep your privacy and stay low-key and never disclose anything personal that will be used against you later on. As we are in the world of uncertainty, trust no one but only yourself. You don't have to let other people know your latest achievements in life, either you just want to brag or inspire other people, still you are just putting yourself in danger.

Most especially in the case of bitcoin where everyone knows that its not ordinary but a very expensive investment. So their mindset that if you have bitcoin hodlings, then you are incredibly rich. Which is really true if you convert them into cash. That's why as much as possible learn to live in private so you can prevent the people from suspecting you and make you as their new target victim. 

  I feel like some people don’t even know what privacy means anymore, they just want to put everything on the internet so that they may gain likes or views. They forget that when you are too open and available for everyone you become even more vulnerable and open for  attacks. But when you Lowkey the enemy won’t even know where to attack from cause they don’t know any weaknesses. There is this level of trust you will have with someone which can make  you open about anything to the person even  showing him your holdings wouldn’t be a thing to think twice  he may be your brother or a friend it is okay to be  open with your close ones but when you do know when to stop sharing too much information meant for you alone. Even when life is not fair and people can fall off at any time which is normal, which should know that  not everyone can have the mind to do evil deeds, and not everyone what’s the bad of you there’s are still people who wants the best of you too.
  They are things the public shouldn’t know about you, like your twelve phrase word of your account and some other personal informations. We can’t tell who is coming for us, now that every thing seems rough and the country is not helping, some are looking for who to take advantage of. In a jungle where it’s a survival of the fittest never be the prey. You know to an extent I feel it’s good to have someone that one person you can trust and vouch for to know our password so that if in the worse case we are no more the person can work and distribute our wealth they way we want them to be distributed. I know such people are rare to see but  people who are loyal to the end still exist. They exist just so we know this are the type of people we need to have  in our corner so that even anything goes wrong they can stand in for you.

Where Bitcoin was created for privacy and to create a decentralized economic system. If someone exposes important information about his holding or fund in front of a third person, then surely it is nothing but stupidity. Far from kidnapping, hackers can fall prey to everything from phishing attacks to vishing attacks. I think it shouldn't be disclosed to any other third person people about the information of Bitcoin holding neither if the relationship is not very close like family member.
Normally in countries where cryptocurrencies are legal, many people suffer from hassle for them as already mentioned in the post. And if there's a country where cryptocurrency is illegal, don't tell any of your friends or neighbors about your Bitcoin earnings or holdings.  If I speak about my country here Bitcoin is illegal,  and there are also many records that the neighborhood leaks information and at the end of the day the person faces money laundering case.

I think I am misunderstood here about flaunting your wealth, this is not about depriving your self a well deserved luxury life, but rather trying to make it excess or more so getting used to exposing them to camera. If you’re frequent on social media you will have seen many Gen z taking photos of even what they eat at home while it’s not an advertisement. There are many made people who try to avoid some of this camera stunt except when it is needed to be done, that is the kind of life I meant to say.

In this situation the person might have learnt his lesson, why disclosing your wealth and money to friends and relative in this modern world where poor people are envy of peoples success and wealth. Maybe his intention was just to inform his relatives or friends about his wealth (bitcoin) unknowingly to him that this will happen, And most people see bitcoin as an investment with high profit. There are two set of people when it comes to financial matters, the ones that have I don't care life, nothing will happen to my money even if I disclose it to people and the ones who are always careful when and where to talk about their wealth. Honestly speaking the choice of friends we keep matters a lot for example making friends with a harm robber the end result will tell, it's either you join them or you fall victim.

As a financial advisor and someone who takes security very seriously, I highly recommend telling NO ONE how much bitcoin you have or money or what your yearly salary is etc.  It's no ones business except for if you have a spouse.  Other than that, friends and family don't need to know.  Never brag about your money either.  It's important to stay private in this area.

I see all these stupid social media clips where people with a camera and mic walk up to people and just straight out ask "how much is you rent" or "how much money do you make per year".. your answer should always be.."thanks but that's information I don't share, have a good day".

It's good advice especially when you don't know what the value of your investment will be in a year or two and believe me, people you show it today will remember about it in a few years.

You may think like it's not a big deal, you told your friends that you bought 1 bitcoin last year at 16000 dollars which was a price of a new motorcycle so nothing special, unless you're dirt poor.
Now it's 30 000 so you can buy a nice car for that, and not the cheapest little thing, but something fancy like a 2020 challenger or mustang. That can make them envious already.

Next year if ETF gets approved we'll be expecting to see bitcoin at 60 000, or even at a new ATH. In terms of cars that's a Tesla S. Many people would kill for that money.

Some peoole always have that characteristics of intemedating people with what dey have. Not only in crypto currency sometimes I wonder how somebody will be intimidating his fellow human being because of what he/she has. life should be a simple thing that everybody should understand. Sometimes we drag on peoples attention to ourselves. A man Got kidnapped by just telling his friends his achievements. and paid a huge sum of money for his Ransom.

Many things are happening these days which, we need to be very careful who will share our BTC investment details with because you don't know who is your enemy and your enemy that can do such evils to you can be your relatives or friends who you helped some years ago or the ones you are trying to help to rise like you.

Now that many people know what BTC is all about in the society and, the moment they discovered you are a bitcoiners in the environment, they know you are a wealthy man or woman and they can use anything to get money from you either by kidnapping your lovely wife or your handsome husband that will make you to send BTC as a ransom before they can release he or she which you must pay for the person to get freedom.

Let's see, I would like to relativise the general opinion that you have to keep your wealth secret.




If you have an income that is in the top 5% of earners in your country, what are you going to do, move to a poor neighbourhood, live in a shitty flat and drive a shitty car to hide? It's one thing if you don't show off, but if you have a high income it's normal to live in a good neighbourhood and drive a good car, to give a couple of examples.

Only a fool shows his wealth or the amount of Bitcoin ownership he has, because it is very risky and invites problems that can have fatal consequences. And if you look luxurious or rich, it doesn't matter, because
There are many people like this and even poor people can look like rich people.
Because people can become evil if they find out the amount of their wealth because they feel jealous which will give rise to evil thoughts to take it in any way, and maybe only newly rich people act like that because they feel arrogant.
In fact, there have been many cases like this that should be used as examples and lessons so as not to carelessly show large amounts of ownership to anyone, including family and friends.

It's not only about crypto. Everyone should clearly understand, if you shout about your wealth, always flex your money - one day you might have huge problems. Because people with bad motives are not sleeping, they constantly monitor rich and heady guys, and after do whatever they want to reach seed phrase etc. My recommendation is still actual, work on your finance, invest, become richer and richer, but don't tell it to others, don't run own pages in social media with rich life. Otherwise, one day you might lose all your wealth or even worse - you may lose your life. Money loves silence. FACT.

One of the most terrible mistakes we make as individuals is disclosing our financial power to an outsider.
Most times we just want to show up or being less secretive, as a person it endangers our life expeccially when we do it among the poor.

Have you ever ask yourself why the rich people stay far from the poor, it's because they are afraid of their safety.
Exposing your financial status is very dangerous to you, remember that people can only ruin what they know, they can't ruin what they don't know.

The world is wicked, and so is the heart of men, and that's why I will always keep respecting Satoshi for staying anonymous despite after Bitcoin got mass adoption and the price skyrocketed higher for his safety and other reasons best known to him/her. But however, financial literacy is one that I have noticed that most people lack after investing, and securing their funds, knowing fully well that no matter whatever relationship you may have got with anybody, when it comes to financial status, that's one thing you ought not to have reviewed to anybody, but yourself alone. As you never can tell who could hurt you tomorrow, since people changes everyday, and as such the only way to avert such scenario is to keep our finance private.

I agree with what @OP said. We can't take risks by telling how many Bitcoins we have. We don't know who is good and bad so we can only be careful. This is not only for Bitcoin ownership but also for ownership of other assets.

We have to be careful not to arouse evil intentions from people we don't know. We should just act as we are and if we want to teach Bitcoin to other people, we just teach what we know and don't need to show them how many Bitcoins.

In addition, by hiding the amount of Bitcoin we have, we can stay safe. No one will be suspicious or have evil intentions. It's better for us to be ordinary people who don't invite any suspicion from people.

even relatives couldn't be trusted anymore. heck you can't even trust your wife with your money. she'll take that away from you every chance she gets.
posting something like your wallet on social media will get you killed because people today have no jobs and no means to make money. if they can find where you are and know a life incentive, a robber can plan his entire month waiting for his chance. you best keep your social media post to posting images of your launch 

you can only trust yourself with your money. there were crimes in which sons killed their fathers for the inheritance, that's very terrible.