Topic: Do not share your bitcoin holdings with everyone - page 3. (Read 2971 times)

It seems you are getting it all wrong, because in such a scenario, they can't convert your Bitcoin to money directly, but what may likely happen is that the victim's BTC can be transferred to another Bitcoin wallet, possibly a decentralized non-custodian wallet such as Bluewallet or Electrum, and then later transferred into an exchange where it could be sold and funds transferred directly into the account of the recipient in fiat. So that's how it works, and can't be traced. Hence, a reason to make security your top priority
 
Point of correction, Bitcoin is not been sent to bank account,  but rather can be sent to any Bitcoijn wallet, and when it comes to the use of mixer, it was only on this forum that Mixers were subjected to restrictions after the outbreak of Sinbad, but that doesn't there aren't mixers still in operations both outside the forum.

Of course, they are also human. But since they are the closest people, ideally they should be more trustable than other people. We also work for them, so it makes sense if we trust them. Also sometimes the mindset can change, but we must know well them for a long time. We must understand very well whether they can be trusted or not.

Each person should have their own way to secure their asset. It is okay if you share the information for a half of your asset only. But I have another way, I share all the information about my investments to my wife and children. Instead of losing a half of my assets when I die, I'd better tell everything to people I trust.

That's why it is important to learn the children about morality and religious values. So, they won't be the people who will harm us in the future.

Let people know you can buy them, but don’t let them know how much. That’s been my motto for the past few years. Letting them in on how much you really earn and how much you have in the bank is more often than not a death sentenc, mqybe just not as extreme as this guy in particular we’re talking about right now.

It’s good that you’re at least making people aware that you’re affluent enough, and that you’re able to help or even give them what they want as long as you can put a price in it, but soon as they know how much you have,that’ when the problems arise. Most of them would latch on you like a lamprey, and some may even really go to such length thinking they’d get away with it easily. So be careful with who you disclose your networth with, not just with crypto.

This is what has me confused.  How exactly do people who get your bitcoin convert it to money that they can use though?  The thing is none of them would ever cash out directly to their bank account right since there isn't an owner of it.  So couldn't that person who sends the btc to their bank account just say they had it from back then though?  I heard you can't even use mixers anymore so how could they even get the money out without an issue?


The only way would be they sell btc to someone for cash right?  However I don't think it's even legal to do that in the US?  And if you do sell it for cash, well it won't be that big of an amount.  The other issue would be  would the buyer of the btc have issues when they try to cashout to an exchange?  I remember reading about that case of that couple who hacked the big exchange and got caught but they are doing that with a big exchange.  But if it was a regular person, I'm still somehow confused how the person who stole or hacked the coins from someone would have issue sending it to exchange to cashout unless it was never reported?  Even if it's reported, does that mean the thief or hacker can't cash out the coins?  However, these coins aren't tainted or bad coins right?  Now if you hack an exchange or something like that, I heard the coins are tainted so the thief can't cash it out.  But how is it different if it's a thief doing that to a regular person though?

Well, I agree with that. we don't know bad people may be around us, and we don't realize their goals. However, showing off bitcoins or even anything valuable that we own in public, would be very risky. Not only bad people, but people who are ready to hack your device will also look for information about these assets. So, I think things like that need to have privacy.

It is truth an nothing but the truth. We should be careful of how we talk. Sometimes we get over excited over bitcoin up trend price, and decide to tell your friends about it, thinking they will give it a trial without knowing that people are very deadly. The more people know how much investment you have made the more risky you become. Because when people don't know about your investment they keep calm. But when they know about it they become jealous of you and becomes naive and bitterd over your success.

This is also applicable to what we do in our everyday life, not only in crypto. Same scenario happened in my state. A man who always brag of how successful he is, and how educated he is, how his children are all graduates and all successful with high grade in school. Hoodlums who literally never achieved anything in life became angry and lay an ambush for the man, and kidnapped him with several tuture and bruces all over his body. And he paid heavily for Ransom for his bail. After which he never speak much about his success anymore rather silence in action.

It is only natural that when a person invests in bitcoins and tells others about the money, they must try to harm him. If you share your Bitcoin holdings with a second person, he will certainly be greedy for your money. And when that relative of yours comes to know about Bitcoin, he will definitely try to get hold of your money in various ways and try to trap you. This incident is actually known by one person who informed a second person about the holdings due to which the person demanded bitcoins as ransom. That's why we should be careful not to tell anyone about these holdings when we invest in Bitcoins, rather it's our own personality. It is better to keep the investments than to share these investments with others for your own safety as you may face losses at any time.

i am having this experience as it stands now.  Because of the environment I stay that has so many persons staying with me, whenever I'm working on my phone a particular guy will come asking what I'm doing with my phone and i will just shun him off but then he just looked into my and immediately he saw the bitcointalk.com in my phone he understood I was into Bitcoin although he doesn't know ty amount of bitcoin I have accumulate but the unnecessary attention and conversations he is bringing up to me is becoming strange by the day.

It's easy to hide your bitcoin holding from people but once some persons know that you are into bitcoin, they seems to have a particular way they see you.

Cases like this happen quite often. And that's why people have to start considering that privacy must be properly protected. And we shouldn't trust anyone too much, even if it's our own relatives. But that doesn't mean we just have to hold it alone without anyone knowing. At least there must be someone we can trust who knows that we have an asset that we store safely. I only told my wife about this. Because he is the only person I trust about this. Because we have struggled from zero from before marriage to marriage and now we have children. That's why i trusts my wife. Because even I wouldn't have gotten to this point without the support of my wife. We have a dream together and we are in the process of making it a reality. So I have good reason to believe it. But I didn't tell my assets even to my siblings. It's not that I don't trust my brother. But I think one person is enough for me to tell about the important assets I keep. But I am very concerned about today's young generation who sometimes trust their friends too much. And in my country there was even a case of murder by a friend of his own friend. And yeah that's about crypto. I don't know the details of the story but it was broadcast by the news media. And quite viral at that time. Even though they are still young. But they share a boarding house. And the mistake was that A told B that he had a lot of crypto assets in his personal wallet. And one day this incident happened. This is truly a lesson for everyone. To not trust anyone except the family closest to us.

It's like this is all I can think of—your most important treasure. Of course you keep it and don't let others know about it. Do we think that if this is told to others, especially those we don't know or who are close to us, you will tell them where your treasure is? Of course, the logical answer is no.

Can anyone do that to a rich man in this day and age? Isn't there already? Now, in the topic made by Op, maybe the one who holds the bitcoin told the one who asked for the ransom, so that is the condition that was asked of him. In short, the lesson is, if you have holdings, don't talk; just keep quiet. Here on the forum platform, it's okay because we're all anonymous.

Wife or children they are humans as we are, money changes the mindset of every individual and it only takes a well disciplined (some though) person to avoid such temptation.
If I'm to be in your shoes from what you said, I'd rather have things in twos, move some of my funds to the other wallet which nobody knows about but me and let whosoever I would want to share my hard earned hustle with to know about the 1st but not the second, that would help should incase things goes out of hand.
You children can one day become the lion that fights against you for your wealth.

Just My Wife , but not the totality there is still enough percent for my safe keeping that whatever happens will remain for me .

we cannot see what life's might bring in the future , our best friend today is our worst enemy tomorrow , our wife today and maybe wife of others if not end well so yeah , security wise ? i only let her know more than half of our investment and the other part is purely mine , and yeah still planning what to do in case there is accident that cross my way as i don't want my hard earned to go for nothing but my children.

Some of those who watched or love seeing the wealth being shared are people that wanted to have a inspiration (aside those greed people that loves seeing luxury and just dream of it)
because those who used as inspiration make their life grows as they believe that if you are looking for something to copy in life then better that this is overwhelming amount to push you through the target.
also this is why they are called influencer to influence people having a better life, while some of those are just want to show their luxurious life for own stupidity.
our family is our defense system ,but some are greed and yeah these days Blood is not important now , but the desire to become rich and yes they will try taking your money from you.

In the business world, incidents like this usually happen often and friends never really want to see other friends succeed in building their own businesses. If someone is jealous of a friend who is progressing then it is a sign that he does not have a sincere heart and he also does not understand true economic concepts. When someone succeeds from our education then we have actually succeeded in making big changes in other people's lives and we will also receive results/compensation in the future without us realizing it. The level of friendship has limits and not all friends can be trusted to be involved in our progress, especially in work that makes money.

Have you ever heard the words of previous parents that there are several types of friends who can be trusted? There are friends who can be invited to the house, there are friends who can be invited to the room and there are friends who cannot be invited to the house. In the past, I often listened to this advice from my parents and after we were adults did we understand what this advice meant. There must be boundaries between ourselves and friends and personal items such as cellphones or laptops are not something that should be shared and they are never allowed to touch personal items without our knowledge as the owner and if you don't limit personal matters, privacy and other boundaries then a friend will never be able to respect our privacy.

Yeah, I think what we earn should only be known by you, your wife and parents, that’s all. Lolz. I’m not sure what’s the trust status overseas but these would be the peeps with whom I would share my holdings and no one else. There is really no point in flaunting our wealth with anyone. We earn it, we should just spend it for ourselves and on our family. Things we earn can only be trusted with them as they are closest soul to us who understand the importance of that wealth and they have no ego or jealousy against how much I am earning or saving. They know very well I’m doing it for them, for the family well being. I think that is pretty well settled and one can actually nominate them in case of emergencies so that wealth can be safely transferred.

The example that is mentioned shows the person trusted relatives. Well, anyone outside family with any close relationship is always a risk to be honest. Better earn, invest and save with full confidence.

If we are in Bitcoin then it is most stupidest thing to expose about Bitcoin holding as it destroys the whole purpose of anonymous nature of Bitcoin.

People(who see some one asset uploaded on soc-med) hope that by following and engaging with those who flaunt their wealth, they will receive advice on how to make money and become rich by copying whatever the showy individuals are doing. However, it should be noted that it is not useful at all because everyone has secrets that cannot be shared on social media. As for someone who has just started and is new to this, hoping to make more money? That's highly impossible. Even big investors will keep their investment strategies confidential to avoid competition.

Showing off on social media is just seeking attention, and it is truly useless for oneself or anyone else. Instead of engaging in such show off in socmed, it's better to focus on self improvement and self evaluation to maximize future income.

Just as one should not tell others about Bitcoin holdings in case of being scammed by scammers, one must tell someone in the family about Bitcoin holdings for financial security of the family. At any time if death occurs due to accident or natural causes then recovery of the bitcoins will not be possible. So every investor should inform a trusted family member about his holdings. However, if friends or relatives tell someone about these holdings, if they are dishonest for any reason, then the holder may be exposed to danger. A holder is responsible for the security of his bitcoins and knows best who is worthy for sharing his holdings.

Not everyone has the same motive for holding bitcoins but my personal opinion is to share with your family because family is the closest when times are bad. If there is any danger someone in his family can easily use bitcoin. May cause harm to others no one else like the family would ever want to get in trouble for harm. Let's share with one of the family to eliminate their own problems.

Yes, most people who constantly show off their assets on social media have a purpose behind it and no one can verify that what they post is actually their real account. Because I just think one thing, if they can make money so well, why do they have to charge others? And instead they should focus more on their investments to bring maximum returns.


I also do this because I not only live for myself but also have a family. But what I find strange is that some people don't even want to share it with their loved ones. They are always suspicious of everyone, even the closest people like parents and wives. Is Bitcoin more important than our parents, wives and children?

Many sheare their Bitcoin holding with others because they want to show them and take intention of them. But that's the foolish work ever. I think gaining intention is foolish work ever. Hide your holdings from others even family to if they want helps help them if you can. You showing of will create problem in future.