Topic: How important is it to keep your bitcoin investments secret from others ? - page 10. (Read 1308 times)

It's not a big deal for people like us who don't have big investments. You don't need to tell anyone about your investments, big or small, though. In a bad situation that may occur in your health, it is useful to tell a relative of your investments. Do not tell anyone about your investments in any way other than for health reasons. Because there is no need.

The subject shouldn't be limited to cryptocurrency; the victim in this case happened to be a crypto investor, it was a simple coincidence, anyone wealthy or well-off could have been the victim. Unless you are intimately linked to someone, there is typically no reason to disclose your financial situation, and even then, it is best to keep your distance. Never assume someone or anybody else who may be listening is completely trustworthy. You shouldn't brag too much about how well you're doing, just as you wouldn't count money in a public setting, you'd get mugged. You can't comprehend the lengths people will go to in order to ruin something because they are envious beings.

Dear op it's not the first time when you expose your earning, investment and salaries openly, you always face consequences. It does not matter, if your investment or salaries is in BTC or Fiat. All that matter is money. Because if the scammer, hacker, blackmailer etc. Have to ask for money they will always chose crypto as method but you know what they could also be tracked from crypto method.

The best practice is to not show your earning openly, why? Let me tell you:

• The worst scenario is what you have mentioned , because if a theft knows your earning, he could steal it from you. In any way possible like by kidnapping too,
• Second scenario is, once you showed your earning, people in your friend, relative zones will try to borrow money from you. Its not a bad practice to lend interest free money but they will borrow money for no necassary reason and always will be late to pay it of.
• Many will try to judge your way of earning and will think accordingly about you, for example if you are earning more or have big investments, manuly will think about you having a bad job which makes you more money. And that's true because i have seen people talking the same.

There were many cases about kidnapping a investor or there nearby ones (loved ones). But still many people try to show off by think that it's not that much money while to others its too much. And they fall for greed and think to take it from you with any way possible (only the devlish mind)

It is not new thing that people may not be happy with someone achievements and discussing that with many people may put someone that risk.i see nothing bad in telling your close and few people about a great thing you are doing but all I know is that  don't brag of what you worth especially in term of cryptocurrency telling them what you worth in your wallets, is never a good idea because that is main reason why many people are target. I believe if people don't know your worth it will be hardly you been target.

This brings to mind a post I read about a man who won a sizable sum of money in a bet; at first, no one paid him any attention, even he bought a car; nevertheless, the day he revealed his winnings amount, he was attacked.So let's simply be careful while bragging about our value and bragging about our accomplishments.

This is the reason Satoshi make this forum decentralized and anyone privacy is anonymous here. talking about btc with friends poses so much risk especially in those area where btc is not regulated or banned. i think we should share our crypto wallet information with our closed friend because we don't know about future and  close friends can be turned out to enemy tomorrow.

I shared about crypto detail only with my brother and i didn't shared even with my close friend. crypto is not totally legal here and we cannot disclose this in public because sometimes it's result in serious issue of money laundering

It might not be a result of him being a crypto investor that led to the ordeal, but notwithstanding, one needs to be careful about which information you share with your friends and enemies. Some of my friends recently get to know about me being into bitcoin because sometimes when I'm less busy I come on the forum to work, so in doing this some questions arose here and there.

There is no advantage, in fact it will cause social jealousy which can cause the person to intimidate you if you have a lot of money in bitcoin so it's quite clear this is very sensitive and as much as possible we have to keep what we have in bitcoin as our investment asset, but if someone has done that then he is careless and arrogant because he wants to be seen by others.

I said only stupid people do that while we understand better how to keep our assets secret as much as possible not to be known by other people, anything can happen with a risk if he publishes it to everyone and that is his biggest mistake.

I keep what I have a secret, including some of my relatives, I don't know how much BTC I have, it's enough for me to know, identity is important not to be public.

For bragging purposes.  Many people who is boastful wanted to show the world that he knows Bitcoin and is invested on it.  Little that he know that he is giving away his wealth and himself to people with ill-intention.


I agree sharing about information of Bitcoin is one thing, showing your wealth is another thing.  Let us not be confused about this two.  We can share information about Bitcoin and even promote it without showing our holdings.  If you can observe, professional streamer cover how much Bitcoin they hold and even blurring the wallet address.  They do that for security purpose and we should also follow that example and never publish our wallet address and the amount of our holdings on social medias.

You are right OP, telling people about your investment in crypto is very risky because you don't know who will take advantage of the information to gave out about your investment to extort money from you. Sometimes people that we think are our friends and not our friends but they are gold diggers and  are jealous of you,they have bad motives towards your success.

Your crypto investment should be secrete between you and your wallet,so that you don't end up being robbed. Bitcoin was created to give privacy in all aspect to its users. Therefore, we should also follow this way when you have invested to keep our mouth shut about our investment to attain a maximum private life. Your bitcoin investment should only be known to the next of kin,when the appropriate time comes.

You can talk about the presence of savings in bitcoin only to those with whom you are ready to share this, leave it as an inheritance, or simply give it away. The rest of the people don't need to know about this, for the sake of your own safety and the safety of your funds. Today you trust people and share such information, and tomorrow you can ruin your relationship with them and their desire for easy money can cost you dearly.

There is nothing to say about precautionary measures in public forums. This has been discussed many times and is a banal safety measure on the network, which implies the following: don't talk too much.

Discussing cryptocurrency related matter with friends and strangers is not bad but when you give them you personal information then it is bad. Not all the people that are playing with you have a good intention to do you good but some of them are good. If you want to be a wealthy man, you don't have to be a gossiper. You have to listen more than the talking. And your attitude will speak for you at all corners.
If you want Bitcoin to group in your locality then you have to broadcast it to everyone so that you will have some people who interested in bitcoin in your area then you will also have people that will buy and sell bitcoin with p2p system.

It is always better for a person not to be talkative about his work in general and about Crypto in particular. One of the important features of Crypto is privacy, and here we always try to maintain privacy.

What is the use of all this privacy if we are going to go there and gossip about our business, this will put us at great risk especially in countries that ban bitcoin and cryptocurrencies.

I do not disclose my work except to family and close ones, and despite that, I feel regret sometimes because of that, because this can be dangerous sometimes.

It is just like money, but that we tend to become more lenient towards members on this forum because most of us are from the middle-class background and we all are trying to earn money more than what the average joe does.

We must not forget that we have to keep our investments safe and for doing so privacy regarding investments is a must, always speak less about what you actually own and try not to disclose numbers. Remember that the person whom you are dealing with is not always a benevolent one.

You dont give your bank account details to stranger do you? Same goes with bitcoin.

In regards to the bolded part, people who understand Bitcoin/crypto and its rules already know that. Crypto space is public or trustless environment where users real identities should not be linked to their assets in open space. Only Anonymous users maybe linked to their assets.

Users private information that's not harmful should be private but their non-private information in their transactions/exchanges should transparent.

that's why it's important for everyone to choose a friend or whoever you want to talk to. not only related to the problem of trading or investing assets that you have.
We know that nowadays almost everyone is having problems with their finances. and it can be a trigger for everyone to take unwanted actions.
you can share information, but still keep everything related to your own assets. if something goes wrong in the future, it is also part of our own fault that we are not careful.

Well spoken mate, it rather simply really OK let's look at from another of view, I have bank account and their is cash  in it whether big or small it doesn't matter so tell me now is it proper to give out the details of that account to anyone or even let anyone know about the digits that are currently stored in there ? Obviously a capital NO, and same logic applies to bitcoin but for its case it goes way more  secretive because even the bankers don't actually get to know the amount of money in your account or in this case wallet and no one will, so far as your keys are safely kept with you. So giving out little information keeps you at the risk of loosing everything on that wallet and its very important to stay sealed shut about your financial dealing because the more exposed it gets the more likely you would get wrecked.

Aside from the possibility of becoming a victim of a criminal, there are those around you who are unhappy. The truth is, they assumed you were wealthier than them since you invested in Bitcoin. And one of your relatives will eventually become envious of you. Without them realizing it, you're merely investing a fraction of a bitcoin.
Jealousy was extremely harmful since it could result in a negative outcome. It can cause a person to do things he would never do otherwise. I understand that we sometimes want to brag about our accomplishments in life, but we should always consider what might happen if we do.

It's very important to keep your Bitcoin investment information to yourself. Normally, Bitcoin is a digital asset that doesn't require the help of a third party to invest in it, so it's very wise to keep every detail of your Bitcoin investment to yourself because you can't tell if the person you are even telling about your Bitcoin is a thief in disguise who can run against you after finding out all the information they need to know about your Bitcoin investment. I know I have talked to a lot of people about Bitcoin, but if there is a need to tell them whether I have acquired it or not, I only end up telling them I have just a very little fraction of it. I don't tell anyone how often I invest in Bitcoin, how much I invest, or the amount I am holding already. Those are details one should keep to themselves. The only person likely to know all the details about your Bitcoin investment is your children or wife, and giving them such information must be at the right time; if you give it to them at the wrong time, you may still be at some risk because your children can playfully give out some pieces of information to an outsider that can make some thieves launch an attack on you or something else. Also, give your wife such information based on the trust both of you have built among yourselves and how long you have been married.

One should not tell strangers about their wealth in crypto assets, even if it is someone they know but they are still obliged to maintain the privacy of their wealth. Many people are careless about this, they trust their friends too much about their wealth, even though it can be a threat to themselves in terms of asset security. Everyone needs money, even money can turn a good person into a bad one and it's all because of money.

Stab in the back, this expression is one of the many cases where someone who is considered a friend turns out to have harmed himself. Avoid saying directly about the amount of wealth to anyone, regardless of whether they are people we know let alone strangers. On forum, you are not encouraged to post anything sensitive including the amount of wealth you have. There are many risks lurking, so always be wise in posting.

Terrible experience for that crypto investor!

These days people are desperate to have a piece of that success and things that involve money(finances), investments, what assets you own should not be shared with strangers and to some extent this should be kept away from some family members who could forcefully try to inherit all this by cutting your life short...if you have to share I suppose your spouse and kids and maybe siblings should be in the know should something happen to you.
Otherwise lets not give this information to every Jim and Jack!