Topic: Do not share your bitcoin holdings with everyone - page 3. (Read 1998 times)

What about the real popular youtubers who talk about btc nonstop?  Certainly they aren't' walking around with security with them like Elon Musk?

Money is very powerful and it can divide a very close family brother against brother, keep your seed phrase to yourself and your mouth shut concerning anything that has to do with your fund or wallet. It's just that everything has gone south if not the safest people to disclose such an information to is your family but since money can change the character of someone, your financial security is your responsibility alone so for me, I'd rather back up my seed phrase instead of disclosing it to a family member in the off chance that I forget or misplace it.

Definitely, we shouldn't share not only the amount of Bitcoin we own but also any of our financial assets with others. Unfortunately, especially today many people have become unreliable and many of these people are unfortunately around us. In a news article I read before, I saw that a child (I said child because if I remember it correct, he was 17) who owned a very high amount of Bitcoin shared it with many people around him and was later kidnapped and then killed because he didn't agree to share his wallet password and send all his Bitcoins. Of course, it is necessary not to believe all such content and I don't know if it is really true news but with such events, we learn that we shouldn't share our financial wealth with anyone. I think that someone who has gained financial freedom with Bitcoin or earned a very good amount of money behaves in this way for show-off purposes in order to attract attention with the increasing popularity of cryptocurrencies today but when we see such content we confirm how wrong this behavior actually is. As Ahzee, a singer I love very much, said;

''We got money not to show, we just got money to blow.''

Not everyone likes to see you have a lot of money so spreading bitcoin ownership to other people is not a good decision. We never know how people will take advantage of our weaknesses and when they have the opportunity they will blackmail us for personal gain. Being anonymous when involved in bitcoin would be much better because the level of security would be much more guaranteed and showing off bitcoin ownership to other people is quite reckless behavior.

This does not only apply to cryptocurrency or more specifically to bitcoin because wealth is a level of security that we need to maintain and if we are negligent and continue to expose ourselves, people will look for loopholes to blackmail us. Always be alert and careful because being anonymous will be much safer than showing off the arrogance of having some bitcoins.

The best and most secured way to live life now is low key, let people not know anything about your finances and let your accomplishments come as a surprise to them. The more you allow people gain knowledge about your financial strength, the more you're gathering unnecessary attention in your direction and not all those who are celebrating you are really happy for you. A lot are friendly enemies. Bitcoin was created to enhance privacy and financial security, but its sad to know that people are now  publicizing the content of their wallet and drawing unnecessary attention to themselves.

People cause their own problems most times with unnecessary publicity just like the man described by OP,  he showed his extended family members his wallet, with clear intention, but the sad truth is that most family members intentions aren't clear towards one another. The best practice is to live a private life and allow your success make the noise. No one should know the actual content of your wallet, but your immediate family is supposed to know that you've crypto, and where they can find your seed phrases in case anything happens to you.

It's right everytime try to hide your holdings. In our country crypto is illigali if you are investing money in it if amy how government know that you are investing and holding crypto that's create a bog problem in you life. I always hide my holding and some people in my family know that I invest in cryptocurrency and hold. In my opinion don't share your investment it's harmful for you in future.

When I mean spouse, I am actually referring to a wife/husband, not just a random girlfriend/ boyfriend.
Ii understand that there may still be partners who may not mean well.for their spouses, but that shouldn't discourage us from still trusting and revealing our secret to our wife/husband just in the case of eventualities.
That being said, know your partner before you reveal your secret to them, so they don't end up selling you out.

The fact remains that not all family members will want to defraud you but then also, some family members might utilize that opportunity when it present itself, moreso, you can't really know people. You can't go about trusting everyone. Even wife and husband's betray themselves, still  there are trustworthy people amongst us who really do not care about our finances, but since we can't read people minds, it is better to be safe than to be sorry

One of the features of Bitcoin is it anonymity as a hodler it's expected not disclose your asset to any close friends, because lack of trust as well as avoid flaunting of your Bitcoin asset once you did that you would be become a kidnapper target mostly if you are based in a notorious city, I read a similar story of guy who live in country who was kidnapped at gun point and forced to transfer all his Bitcoin asset in his Binance account unfortunately he emptied all his coins to the kidnappers before he was let off the hook thereafter after some investigations it was discovered that the guy live an extravagant life style as well flaunting his wealth which prompted his kidnap.

If you are wealthy, you don't have to tell people before they will know that you have money. There are something people will use to detect you that you have money. And one of those things are, the foods you eat, the clothes you wear, and in the highest one is your wife and children. These are some of the things people will use to know that you have money. A girl was kidnapped in the city I am. Her boyfriend kidnapped her and asked her father to pay $3,000 and he paid the money to release her. And she was kidnapped because of her luxurious lifestyle. And to add it to what the Op has said, the above should also be avoided.

In real life we should not Post anything involve in money we have in public or in social media cause the outcome of these are like what you've said there's a chance to be kidnapped as we all know that nowadys there are many people who are actually do illegal if we speak about money. Like that you've said above the relative's of a person who showed a  bitcoins he/she have had been kidnapped and the kidnapers ask for Bitcoin for the ronsom. Even in real life we should not give our details in toe the Public if we have. Alot of money cause if someone will interested then there's a possibility that our life is in risk.

Since greed works in people, it takes no time to change. Especially money-related matters can cause a quick reaction, even a trusted person in one's family can do this. I don't think it's better to tell about the money. And if someone needs to be informed then only he can be informed that he has money but to reveal how much money he has can create a different reaction. Even if you don't trust an outsider, you must trust a member of the family. But you have to take responsibility for your own financial security or else it will be risky. As much security as possible regarding crypto assets that will be better for the assets holder.

Some people show off thier crypto assets without any typical reason while other need to show off that they have a lot of bitcoin and crypto and they feel unsatisfied until they know that all of thier family members and friends know that he has that much assets, Usually these are those people who will show off themselves to be rich and for this they won't be limited to showing thier crypto but also willing to show everything they own like car, home etc


Well, if you show your wallet balance to anyone, they can't steal anything from you but sometimes when other people know that you have that much balance then they may become jealous and think bad about you. Maybe try to harm you or anything like that, so for this reason i am that sort of person who won't be much interested to show off his assets to anyone.

I just heard something similar to this story, but the guy was not so lucky. he resisted and did not tell the passcode to his wallet and the thief got angry and shot him!

Many people want to showoff their profitable earn from bitcoin and never hidden yet with how much profit earned or how much bitcoin assets have in their wallet, some people want to get respect from the other by showoff their bitcoin. No recommended sharing with how many bitcoin or altcoin assets have in our wallet but make it private only know by our family only. Many people have understood well with bitcoin transaction and how to withdraw become fiat, when getting chance with people interested for showoff their bitcoin assets will be target by thief how to stole his bitcoin assets.

Some one want to get more interested with their social media account by showoff with how many bitcoin in their wallet, I think better make privacy with your assets and close chance from thief or criminal cases happen to us when not sharing with how many bitcoin asset we hold in wallet.

Yes, that's true, but we can't be completely closed to Bitcoin ownership. at least it is a family member or someone closest to us. surely you will tell them.
The most important thing is to only talk about Bitcoin with people who really know and are in the right environment. it's like fellow people investing in Bitcoin.
Of course, avoid posting anything related to your Bitcoin asset balance. As far as possible, keep away from screenshots and uploads on our social media. We ourselves know the limits of what we can do and what we should avoid. all for safety and comfort.

You have good advice there, but I would still like to warn you that revealing your wallet status to your spouse must be rethought as it's not in all relationships that spouses mean well for themselves, so the advice shouldn't be general. Some spouses are good, some are bad and some are ugly, so if yours is wise and good, then you can go ahead with it but also be sensitive to the revelation since the world is cruel. At times, it might not be the spouse that would perpetrate the evil against their fellow spouse but someone who the spouse reveals it to without an evil intention might be those who would do it. This is why we have to be smart even as we disclose to our spouse and let them know the danger of letting a third party know about it.

Besides, it's a very bad and dangerous thing to be running our mouths like a fool, and if someone is naturally mature, they do not run their mouth anyhow, they will be calm, and listen more than they speak. These attributes should be inculcated in our wallet possessions as well, we should never dare reveal the worth of our wallets, it's better to pretend to have nothing at all or very little crypto assets if we can't deny it entirely. After all, the main reason why Satoshi invented Bitcoin was to keep the anonymity and privacy that the centralized system is depriving the masses.

Today's culture of inappropriate attention to wealth connects with your cautionary approach to asset display, particularly Bitcoin. Indeed, financial discretion protects against dangers. Why should asset holders pay for crime prevention? Society improperly places crime prevention on individuals. Now consider Bitcoin's values: Financial autonomy is the goal, not just a currency. By promoting secrecy, arent we reducing its appeal? This is crucial: Balance advocacy and personal safety. We must promote cryptocurrency awareness and education to create a culture where wealth- digital or otherwise - empowers rather than criminalizes.

I think people who announce bitcoin they have only want to show up and let people know they have bitcoin, to give people the impression that they have money. But they forget that doing this they are opening themselves to danger. Letting people know that you have some amount of bitcoins is just calling those who will  come and steal from it.
Having some amount of Bitcoin is supposed to be made secrete, because people still try to keep the money in the bank as secret,  if people hide the amount of fiat they have that means bitcoin also needs to be keep secret too.

If we want to live safely, we must be able to take care of ourselves and not provoke people to commit crimes, such as showing off our assets, for example gold and crypto. because we will not know someone's heart even if he is our friend or relative. Bitcoin is a very valuable asset, even though we have 1 or 2 Bitcoins, of course in certain countries you can buy a house by selling just 1 Bitcoin. So we shouldn't show off Bitcoin to everyone, even if it's our relatives, so that we are potentially free from the threat of crime. So your advice is very good and certainly useful. Indeed, lately there has been a lot of news circulating, including in my country, that was the result of showing off crypto to his friend until he was finally killed by his own friend and his friend wanted the crypto that was on his friend. so we have to look after our assets seriously.

In my opinion, it is better for us to be considered poor, but we have valuable assets, rather than showing off our assets which will potentially cause us harm.