Topic: How important is it to keep your bitcoin investments secret from others ? - page 3. (Read 1308 times)

It may be an exaggeration to describe our investment and financial lives as “secrets” because in many cases there is no harm in sharing them with those we trust, but it is important to acknowledge that excessive chatter can attract hunters who will seek to get part, if not all, of your profit pie in anyway or another. And here I do not exclude extortion or the threat of harm if your interlocutor knows that you are keeping a secret that can cause you trouble, especially for those who live in countries whose legal legislation does not support crypto. This also applies not only to investments in Bitcoin, but to all types of investments in general.

Thats crab mentality for you on which it is really that something that very normal for a person not to like up someones success.Although not all would really be something like this but most people does hate
when they do see you that overtaking in terms of finances and other belongings like cars or have a good looking big house on which jealousy would really be always next in line.

This is why never expect that they would really be happy on what you have achieved.Speaking about security from other people specially on strangers then it would really be just that right on having
that privacy because we know that once people would really be knowing that we are holding that much then there's always a tendency that you would really be abducted or would really be forcibly
to get those money from you on whatever means it would be. This would really be putting you up on great danger and this is why its really just that right that you should really be mindful about your safety.

Never ever make yourself get exposed when it comes to your finances and belongings on which it would really be that normal that there's someone who would really be going after you.

In our local, there have been people being stabbed and attacked and it's no different from the $5 wrench attack. And that's because people knew that they were holding Bitcoin. So, it's better to remain lowkey and avoid being too talkative especially in public when you don't know the people you're dealing with. You will never know who are the people interested in robbing you and already had a plan to steal or attack you.
That's why I am not sharing it with the public anymore but still, it's kinda hard to avoid that because in social media, people do see what you're commenting on and what you're sharing so, I am being careful there. Sometimes you really have to give it in and remain happy on your own when you're making a profit if ever you do.

In my general knowledge I think it is wise to keep secret not only bitcoin investment but all such income related information.
Otherwise, vultures will look at your earnings not only from Bitcoin but also from other sectors. And the incident you mentioned above may be happening continuously, some may have come to the media and most of them have remained hidden. Many people do not even get the correct judgment of it.
The reason why I said this is - suppose cryptocurrency is illegal in your country, and you earn a hundred thousand dollars and tell some of your friends about it and go around those friends' areas, then one of those friends must be an impostor friend who hires a kidnapper to come to you for taking the  Funds. And then since crypto currency is illegal in your country then you have nothing else to do. The incident may be called a fake story, it is a true story that has not been in the media, so only a few people know about it?

Everyone knows about Bitcoin now. Although most of the people are still not well aware but they know this much that it is a valuable asset. There will be crime as long as the world exists but one should never neglect giving oneself maximum security. Nowadays, criminals now target people who have large amounts of BTC. Because they are now aware that the remuneration that can be obtained from kidnapping or any other work is not possible on any other platform. So those who are thinking of holding bitcoins for large sums of money should try to keep themselves anonymous as much as possible. Remember that even if your portfolio is small today, it will eventually turn into a large asset.

Your life will only be put in danger if you keep announcing it to other people or the social media that you are into bitcoin, but if you keep your investment into yourself, then expect that no one will harm you since everyone is blind that you own bitcoin. Even in my country, bitcoin’s value is incomparable, the reason why these bitcoin hodlers prefer not to talk about their bitcoin investment and just stay low key in public so that no one will think that they have valuable assets in their account.

this is how our identity must be protected, especially regarding btc, because crime will overshadow us at any time.
in my country the value of btc is fantastic, so if someone has btc, they are convinced that the person's life will not be comfortable, sleep will not be sound, after the identity is known as the owner of btc

To make your investment information in Bitcoin, your capital, your wallet's addresses .. etc. and all of these are secret, will help preserve your privacy and make you not be tracked or targeted by a scammer or hacker, and so on, to be anonymous in the field of cryptocurrencies and to keep your investments confidential and not to publicly publish information related to your trading profits or information about you or with the platforms and wallets that you use, it is among the good things that preserve your privacy and your security in this arena crowded with evil souls. Blockchain technology is basically created for this matter to preserve privacy and preserve your identity if you are a Bitcoin holder, so it is wrong to do the opposite of this precious feature, and blind trust is also what makes you talk and confess to people you know or do not know about your private investment matters. This trust, if you do not get rid of it, will turn against you.

People hate someone's life if they will see you growing and improving. Maybe not all but in my country, their crab mentality really exists and yeah,  they will ruin you and destroy you once seeing you improved. It is better to have all of our investments kept secret so no bitter people around you have a plan with that and even our family members could have an evil plan with that.

Of course, we can certainly talk about Bitcoin but never mention how much you invested in it as it will gain more interest, and wonder how this person can take that.

Bitcoin investment should always be kept secret because here you can't sue it if any unforeseen event happens. And in today's civilized society there are many bad people who can be friendly to you and put you in danger. So to keep yourself safe always stay away from sharing anything you have with others. I do not disclose my investment to anyone other than myself. Because I know there are many bad people around me who can do me a lot of harm if they get the chance. That's why I always stay away from sharing my personal stuff with others.

As much as you love your life, should you also love your Bitcoins, shouldn't you?
When we used to talk in early days that we should tell people about BTC, at that time the value of BTC wasn't worth too much. Even a $1000 BTC would have been to people like "this is scam, and will fall any day soon". But, when the days came when BTC, for the very first time, touched 10k, it brought too much awareness about it amongst media and media started representing crypto in their own way, as the saying goes, "too many cooks spoil the broth". However, then people started realising that this is something and that this does have some value (not talking about intrinsic value) and then, they started keeping BTCs more as a secret rather than bashing out in front of their relatives, friends or anybody else that they have crypto in their portfolio. There was fear, not just for getting robbed by people in their own area or anywhere else, but by the governments too because back then, the stance of governments on crypto was very strict and it wasn't good at all. However, things changed later and now, you only keep it a secret from every other person you see or meet in your life because you do have a fear of getting all your life savings being fucked up the moment someone takes access to your wallet and boom, it's gone (for some people, even buying 1 whole BTC from their complete savings and holding it forever is all they want)

Whether it's a small amount of Bitcoin investment you've got or a huge amount you've invested, the best practice is to keep our investments secret. If one cannot learn to keep their mouth shut over a small investment, it's not a huge amount that can keep them shutup; if they invest a huge amount, they will even be glad to brag around telling people they have a huge chunk of Bitcoin. But well, anyone who does not keep their investment private should also be able to bear the risk that comes along with it. Bitcoin is decentralized, and when trading on Bitcoin, we should learn how to keep ourselves anonymous unless we are only sharing such information with our wife or children. We have Satoshi to learn from on how to keep our investments secret and stay anonymous.

The issue of keeping Bitcoin investment secret from others comes only when someone invests a huge amount in Bitcoin.  Because no authorization is required to transfer Bitcoin from one's wallet, if a person invests a huge amount in Bitcoin and tells everyone about it, it can be a threat to his life.  Because there have been many cases where someone has been kidnapped and transferred bitcoins from their wallet and many have gone missing.  So I think it is very logical to keep the matter of investing in Bitcoin a secret.

Hmm quite interesting, I know some more crazy events happened in my local areas, Some of the people pretended to be Legal officers and they got the information about some Crypto investors and they tracked their activity for some days then they raid on their houses same like Bollywood movies haha but it really happened they Stole their funds by raiding on their homes and said your funds are in government custody and many cases like this reported unofficially on social media.

Why all this happened there were some rumors that the Pakistani Government will take strict action against the people who are involved in BTC or crypto by any means. The best part after a few days whole press release and the media was reporting crypto is banned but that was a piece of wrong news because the actual news was some state bank officials proposed the idea to Ban crypto and the matter was under discussion but the media reported it like that Bitcoin is dead haha. Fortunately, things are chill now and very not officially banned.

I also have the same opinion, we can keep it a secret from everyone, but it's not necessary for parents. They are the people who gave birth and raised us to be human, what we have today is also their merit. We don't need to advise them to invest but at least share our investment, I even asked them to store the seed phrase for me because they will preserve it better than me. I see many people giving advice, not to share anything with anyone, including our parents. I find them selfish and sad for their parents, who have sacrificed their whole lives to raise them, but they value money more than motherhood.

There are a few reasons why it may be important to keep your bitcoin investments secret:

1. Security - Revealing that you have bitcoin could make you a target for hackers, scammers, and thieves. Keeping it secret helps keep your coins secure.

2. Privacy - Bitcoin is meant to provide financial privacy, so revealing your holdings can encroach on that privacy. Some people prefer to keep their financial affairs private.

3. Judgment - Some people may judge you or criticize you for investing in bitcoin. Keeping it secret can help avoid that judgment.

4. Tax obligations - In some cases, declaring your bitcoin holdings to others, like family or friends, could create tax obligations that you otherwise would not have had. Keeping it secret avoids this risk.

5. Volatility - Bitcoin prices are very volatile, so if people know you have bitcoin, they may become obsessed with checking the price constantly and criticizing your decision if the price goes down. Keeping it secret avoids this.

6. Relationships - Revealing major financial decisions to family or friends can sometimes strain relationships, even if well-intentioned. Keeping it secret avoids potential conflicts.

So in summary, there are a number of good reasons why keeping your bitcoin investments secret from others may be valuable - for security, privacy, avoiding judgment or tax obligations, and avoiding potential strain on relationships. Ultimately it comes down to personal preference, but there are definitely advantages to discretion when it comes to cryptocurrency investments.

Hope this helps! Let me know if you have any other questions.

With money, you can't really "just choose" who you trust. Even the ones within your family could turn against you and leave you to dust. Adding up to what you just said, you can't even sometimes trust your parents. In Asian culture, it's a fucking no-no. They'll put the burden to you when it comes to money and good luck having something left in your wallet since they found out that you're holding crypto. Surely they heard already in the news that crypto can make people rich.

In Western culture, I am pretty sure it's different.

Hell no, your parents could even be worse than a random stranger. I am saying this not because I have a toxic family, but from a story from a friend of mine. For spouses, careful of those gold (oops) diggers.

I get your point, and you have your own preference, but you can teach them like a tip of knowledge about it. You tell them what it is and what the purpose of this is so that they are just aware. It is not making them dumb, but at least they are aware that you are doing it because other parents, if you are too secretive and find out that you are earning something,  will think you are doing something illegal, and that is where the problem starts. Though on my side, I do inform my parents about it, but only a small amount of information, like that I've been involved with bitcoin, because I want them to be aware of what I'm doing, but again, don't inform all of your relatives and other people just to be safe.

If we talk about parents, then not everyone knows how to handle technology, and even more so, not everyone understands what bitcoin is and what to do with it. I'm sure that just a few of the closest people you can confide in and who will keep it a secret are enough. If your parents are relatively young or familiar with cryptocurrencies, then this of course will be a great option, because these are your closest people and they will always take care of your well-being.

About my investment and also untrusted people having a bitcoin or don't brag on social media, that's the right thing to do. As for parents or spouses, I think we should share everything with them because we make money for them, not just for ourselves.And that property kept by relatives son can done this and don't forgettable.