Topic: Do not share your bitcoin holdings with everyone - page 7. (Read 1998 times)

Unfortunately, the person does not know privacy so that it easily shows ownership of bitcoin assets to random friends online, it is a risk where when your friend shows ownership of a large amount, other people who are not known have planned to seize by kidnapping so that they usually control their assets, obviously this is stupid for showing off their wealth by having bitcoin.

In essence, never show off our total assets to anyone it will invite disaster including kidnappings that are around us, remember thieves by seeing $105K in assets will rebel for action so that they can own by kidnapping and this should not happen if there is already this incident.

Never reveal we have bitcoin, just shut up and don't show off to anyone our ownership.

If something is confidential, if it has been told, it is no longer secret, especially when it concerns assets, both money and money. But thieves are always looking for related information if someone meets their criteria, not just those who invest in crypto. Yes. all the data they collect.

True, a careful attitude is necessary and it is to minimize the risks associated with the most grievous effect of losing one's life. Even if you have a lot of money you are confused, if you have less money you are more confused. Just simple in appearance.

You will discuss your digital assets with others and if any of them are greedy for your assets, they will definitely try to put you in danger. In this case you do not discuss your bitcoin or any other crypto currency matter no matter how closely related you are. Don't walk the streets with the device you store your digital assets on as this can increase your risk. Always try to keep an eye on the security of your wallet.

Wow!!!  when you frame the matter like that, it seems that you don't know what is bitcoin... and/or what distinguishes bitcoin from other assets and/or monies.

First it is really difficult to reverse if you get bitcoin taken from you.  Another thing is that it can be moved around quite a bit, and yeah maybe if you get $1million or more taken from you, someone might get interested to try to help you or to block some of the liquidity of the money at the exchanges, if the money goes to an exchange rather than some places in which it might just get mixed with other coins.

There can be a certain amount of anonymity with bitcoin too.. in terms of if some kind of vulnerability is found with you and your ways of securing your coins, the way that you might be robbed might be quite subtle and you might not even know who did it. .whether something was slipped into yuour drink or some of your information was gone through by a friend, acquaintance, relative, guest of the house, and they might not even need to rob you right at that moment, but they might be able to get enough information to get into your systems.. or maybe if a more direct robbery comes at a later point, you might not realize how much information had already been gathered on you to come to realize that some of your security systems were not as secure as you had previously thought them to be.


The responses of this whole thread seems to have a bit of a dilemma in terms of bitcoin still being adopted and more and more people knowing about bitcoin, but how do they find out?  merely anonymously?

There is a modified statement from fight club:  "always talk about bitcoin.  Never talk about your own bitcoin."   So that is part of the dilemma.

In this forum and also sometimes in real life, I learn more about myself and my own strategies and my own priorities by talking about what I am doing, and I hardly ever refer to specifics about my BTC holdings, but surely sometimes people are going to infer that I have more than 0.63 BTC, and sure I have admitted it, but sometimes also accidents happen, too.

Surely I am not clear where the line needs to be drawn, even though I have been in bitcoin for 10 years, so I have made various choices about where to draw the line in terms of my online discussions and also in terms of my personal life..

I cannot completely disagree with the members here proclaiming to never say anything, but then there are variants, yet people will choose to live completely closed lives in a variety of ways and others will live relatively open lives in a lot of ways.. so surely each of us should be attempting to figure out our level of balance, but then some people who had been overly public about certain aspects of their lives will sometimes become regretful.


You raise quite a few interesting points in your post, and I agree with some of them and don't agree with others.. and gosh sometimes it can be better, easier and even less risky to share personal information with strangers, especially if they might not know other things about you, then it is like being on the forum.. it could be quasi-anonymous.. but surely sometimes it could come back to bite you too.. when you overly-share with the wrong people and sometimes people seem nice and good when you meet them, and then you might not realize some of their tricky and/or evil ways or even how far they might go to undermine you, until after getting to know them better, but then there could be questions about how much do they know about you and how much do you know about them and have they been tested under certain kinds of circumstances.

Sometimes even a relative could fall out of trust when we might have had thought that we knew the relative, but some certain situations arise and then we might come to realize that the relative might have different values than we had expected or even circumstances could change in the life of the relative to cause them to become much more erratic than they had been earlier in their lives.. maybe everything is going fine and then pretty soon they lose their job and maybe they lose their spouse or one or the other might have been discovered to be cheating and then when we see how they react in those circumstances, we might come to realize that they might not be as trustworthy as we had previously considered them to be. .and we also might start to be concerned about what measures they might take if they fall into seemingly desperate times...and maybe they even blame us or someone close to us or they might not even be in a rational situation as they had been thought to have had been previously.


I get your point about some kind of need to share with close relatives, but it is not a total loss to die with your bitcoin, and it is quite likely that bitcoin is getting more and more scarce because there are going to likely be more lost keys than we anticipated, and there might even be a decent number of current bitcoiners in the process of losing their keys. .because they might not know that they are not able to access or move their bitcoin.. even though they think that they can, but if they go to do it, they might not be able to accomplish it. So losing your private keys is increasing the value of the remaining BTC HODLers... and they might not be a bad group to give to because sometimes family members might not deserve it, but there might be other cases where the BTC HODLer is too selfish and/or failing to recognize and/or appreciate the deservedness of some of his/her relatives... even though sometimes receiving something for free might not create very good incentives for the recipient... which is part of the reason why anyone who earns something (by employing proof of work) will tend to appreciate the value of the thing more than the person who received the thing for free..


Sometimes it is true that people deserve more in terms of sharing in the wealth, but it is not necessarily true in all cases.


Sure there can be something greedy and materialistic about money and bitcoin, but I doubt that bitcoin is just money.. if you try to understand what is money then bitcoin may well have some money properties that are quite profound. and sure. yeah relationships have value too.. but sometimes relationships are not necessarily good and the lack of goodness may or may not relate with money.  You should not presume too much about how everyone has a good relationship with people yet money is bad or evil or whatever you seem to be suggesting with you attempt to proclaim that your priorities should be the same as the priorities that others might create in regards to those topics and/or other topics of relations to people versus things versus options.


If you are thinking like that, you better be careful with your bitcoin because you might not realize how difficult it might be to get your bitcoin back if you lose them. A lot of people are coming to appreciate that, and you should be able to either look at a price chart or just to go through some of the math to come to appreciate how difficult that it might be for people to get bitcoin back that they likely had purchased at much lower prices.

Your forum registration date is pretty similar to my own, and just think about how many BTC you would d have been able to stack 10 years ago, versus various points in between then and now, and gosh even someone who might have started stacking bitcoin 6 years ago, they might not be ever able to get back anywhere close to the quantity of BTC that they had stacked over the past 6 years, depending on how they might have gone about their stacking of sats over the past 6 years and especially if they might have had been aggressive in their stacking when BTC prices were below $10k, they may well have an average BTC cost that is well below $10k..and then just stacking for so many years.. and it is even more difficult if someone had been stacking heavily in 2014, 2015 and 2016 to even come close to being able to stack as many sats now for even a multitude of what it might have cost them in that period in which they might have an average cost per BTC of less than $1k.

That is why it is important to keep your secret with you because sometimes the person you believe in will cheat you later, some people or let me say some family members don't want you to succeed in this life and will try their hardest to keep you down, that is why anything you do you need to think before you do it, if he didn't tell anyone about his bitcoin investment I don't think they will kidnap him because they will just think is just a normal person. I believe the person you should tell about your bitcoin holdings is your blood brother or parents because if anything happens to you, they will be aware of it so that he will not be wasted in the wallet, now he has learned a lesson next time he will not expose himself on any achievement he receives or any business that he is running, he will keep it secret without anyone knowing about it.

Humans are greedy by nature though not all. Many cannot keep their integrity with money or many may become vindictive. But Bitcoin is a decentralized digital currency that is best kept anonymous. A person can certainly be in danger when he tells others about his Bitcoin holdings. He may be one of his relatives or someone else. For security reasons we must refrain from sharing our Bitcoin holdings or anything crypto related with anyone else. What the OP mentioned is definitely important especially for a bitcoin holder. There are some people among us who trust anyone else but many take advantage of their simplicity to deceive them. So of course whoever is a cryptocurrency holder or investor should keep their activities private.

People should know the boundaries of what they can only show to the people and what should be private to others especially wealth because there are lots of enviers out there who are not pleased with what you have and some of them want to get that blessing from you by force. This should not be happening if only people are not greedy but this is the true scenario right now. He can prevent this from happening to him if only he was careful but he wasn't and he became just a lesson for us in the future and learn from his fatal mistake. People should know this phrase "For every blessing there is an envier for it".

It seems to me that hiding such investments from your wife/husband will not be so easy. If you live together, you probably know about, what source of income does your family have, how much do you spend and how much do you save, so you won’t be able to hide any significant investments.

But in any case, you need to share your investment with your closest person, so that, as you said, if some force majeure will hapend, this investment does not go in vain, but benefits your family.

It's really nice that only you know the Bitcoin you have or other cryptocurrencies. Or if you have someone to trust, it's no one else but your husband, whom you know you can trust, or close family or friends.

That's a bit strange, using one's own relatives just for personal interest or greed. This is not the normal behavior of a bitcoin fanatic. This seems like a bad example for someone who believes in bitcoin in this business industry.

Wow, this is a wild story. I wouldn't wish anyone to have such relatives.

We really should not brag about our wealth, because most people will not be happy for you, but on the contrary, they will feel hatred and envy.

From the caption of the thread, the emphasis is on sharing your Bitcoin holding with "everyone", this means the public. You seems to have accepted that it is not actually a good practice. I'm yet to picture any advantage of it that is devoid of problems. One could easily become the target for hacks and other security concerns. It could also attract the attention of government authorities as question of source of funds tax details and others, might begin to trickle in.

As for sharing with family and close allies, that is another topic which have been extensively discuss in this forum. Some of the links are:

Using Locktime for inheritance planning, backups or gifts

HOW DO WE TRANSFER BITCOIN WEALTH TO HEIRS AND THE NEXT GENERATION

These days people don't want to talk about their income because of lack of attention or some other reason. Many people knowingly don't want to disclose their income because they earn a lot so that they don't face any trouble from the government. One thing I don't like in my case is that it's my income, my effort, what do you care about. Now if one person earns 10 thousand dollars a month and another person earns twenty thousand dollars, does it matter to me or to you? I don't think it will do you any harm if your close relatives know about bitcoin holdings because it's not the same for everyone. I was introduced to the Bitcoin world through a close relative of mine. You may not tell anyone how much bitcoin you hold or how much you intend to do, but that doesn't mean you don't tell those close to you about bitcoin.

Sharing our bitcoin investment with strangers doesn't really do us or our investment any favors. But if even those close to you hide it from them, is it right for you to do it? Have you ever thought that if you don't share your investment with anyone, even your closest relatives like your wife, and you suddenly pass away, those bitcoins will also disappear in waste? Are you living and investing for yourself or for loved ones like your parents, wife and children? If you only care about yourself, you're too selfish because without your parents, you wouldn't be where you are today.
Bitcoin is just money, it cannot be more precious than the love of parents or spouses. If you lose bitcoin, it is not difficult to get it back, but love cannot be regained.

Some important things about oneself must be kept secret from everyone. I feel that sharing about my investment with others will not benefit me so why should I discuss my investment with others where I am not benefiting. Our main objective of investing is to earn profit from that investment and not to invest to inform others. What's the guarantee that someone you trust today about your investment won't try to harm you some time later? Bitcoin is a very valuable digital currency and when you invest in Bitcoin you have a chance of getting a lot of good things in the future, it is better not to tell others that good things should be kept to yourself. If I make money by investing from my place no one will know that I have made money and if my money is lost then no one will know that I have lost money i don't like these things at all its my personal thing only i will know other  no one

Being secretive isnt the only reason; its also a smart move. Really think about it: Bitcoin is an autonomous thing at its core. This is made clearer by the fact that there is no central person like Satoshi. His privacy isnt just for his own safety; its also a sign of Bitcoin's philosophy, which is decentralization.

To keep your wealth a secret, read on. Of course, 100%! Being smart is more important than being afraid. Why tell people about your holdings? Having a sign that says "Hey, I've got valuable stuff here!" would be like that. Theres no reason to be suspicious; the goal is to lower the risk. After all, chance does make a thief.

But lets be honest: Bitcoin isnt just money; its a movement. Supporting Bitcoin is more than just holding it; it means knowing how it works. Satoshi got it. So should we. Dont tell anyone about your Bitcoin business. Its smarter, safer, and, well, its more Bitcoin.

The person or victim in the story above did not learn from the strategy used by Satoshi, that's how great Satoshi was in being able to predict something that had not yet happened or he was able to think 10 steps ahead before taking action. I think one of the reasons Satoshi hid his true identity (still anonymous) was because he predicted something like this would happen. He will be the target of crimes from people who want to take over the Bitcoins in his wallet.

There is no need to show off wealth in any form to other people, including relatives and family, crimes occur not because there is intention on the part of the perpetrator, but because there is an opportunity. Never give other people a chance, let only you know the wealth you have. Satoshi has done this more than 10 years ago, he has never given a chance to anyone who has evil intentions towards him because he has managed to hide his identity until now.

Rich men and tycon business men that flaunt their wealth are often escorted by police and dedicated law enforcement agencies and security guards talk more of a person that hold one of the most precious gift in the world. Why will you flaunt and show off about your wealth, that's a dangerous thing to do to be honest. I don't mean to be rude but not even a family member should know about your bitcoin except for rare occasion if you are in sick bed and may not be able to survive.

The world is a crazy place in that when you have money, don't tell people that you have and when you have that it's obvious, tell them that you have 1/3 of that so that you don't have the attention all centered on you, the people you think might like you today will be the first people that will set you up for bad things. Don't be surprised that it's even a friend that leak such information of the guy having bitcoin to kidnappers.

That's not a productive way to be a communicative person, what you need to do is to be smart about who you are planning to share this kind of information, I mean how can you exactly share information about bitcoin to other people if you aren't sharing some stuff about your bitcoin journey, it's not inspiring or even engaging to have someone share you some information but they're so secretive about their own or even dismissive when you ask them right? The take here is that the paranoid approach isn't the best option because it's bad for both parties, the best thing to do is to be able to know who you will share the information and have the instinct to know if someone is having malicious intentions against you, maybe not sharing the actual amount but I think that part should always be private.

Exactly, haven't we questioned why Bitcoin is giving you anonymity? It isn't to provide users their security and safety by not revealing their identity. If you really want to share your experience in Bitcoin with your family or relatives, I think it would be better to not tell how much funds you have or choose wisely the people that you can literally trust like your parents, cause we know that even blood-related people can still do such things. We should always be careful, cause we don't know what people can do just to attain someone's money or Bitcoin, this not only applies to funds but also to any valuable things.

It is better to keep the exact personal information secret as it will reduce the risk. The use of modern technology has speeded up people's lives and at the same time increased privacy and security risks. Many people put their personal information in danger if they know it in which case it is better not to share it with anyone except their family. It is not a wise thing to disclose all your information to others there is a high risk of being in danger. Therefore the things that are exposed to people should be kept away from them.