Topic: How important is it to keep your bitcoin investments secret from others ? - page 6. (Read 1399 times)

Bitcoin being popular does not mean we have to brag about our investment in Bitcoin.  We should be discreet about our investment because it deals with finance and many people are enticed to do bad things if they heard or learned about someone having a stash of Bitcoin or engaging in investment in Bitcoin.  They might think that it is a huge sum of money and may plan things against us.  This will endanger not only our life but our family. 

These bad guys might do things that will force us to give them money like blackmail, kidnapping, threat and even crashing into our house just to rob our investments.

Bitcoin and cryptocurrencies are no longer a secret today. we can just talk about everything with friends who do have the same frequency regarding any investment asset in this world. especially among young people, nowadays more young people are concerned about investing. they are in the stock market to buy some part of the company's stock.
the point, just sharing information with others because of a discussion. it's not a problem. most importantly do not give anyone access to anything related to our assets. if it's Bitcoin, you can keep your hardware wallet in a safe place, as well as the recovery seed.

It is one thing to be quiet on the source of income you make and another thing the way that you live your life. If you are doing big spending within your environment it is attract the attention of people to begin the questioning of the earnings. I will suggest to stay away from big spending in the environment that you live that way it is not much people will know how you are getting your fund. It is worse if you are the one to be exposing yourself to how many cryptocurrency you have. Some hodlers boosting of how many coins in their wallet and potential increase they will have in the next bull season, this is risky to do.

A certain distance should always be maintained from strangers and friends. You should not share your investment information with anyone, including strangers. If you can keep to yourself where you invest and how you invest, your investment will be safer. When you share your investment information with a stranger they will ask you various questions about your investment and they will not even think of harming you if you share any personal information with them. So it is better not to share about your investment with anyone.

I think the best lesson we can get here is to stay low key. Never show the public what’s your real life status and never show them that you are capable to afford luxuries in life. Instead, act like a regular person so that no one will suspect you that you have hidden wealth with you. And if you go to other places, try to be anonymous as you are and never trust strangers or even friends that you have just met that time.

It is very important to keep your investments a secret. Bitcoin is widespread and the various news talking about how it makes you a lot of money is really eye-catching for criminals. Note that it is money that we are talking about here— everyone wants money and some will take extreme length to obtain one. Revealing your bitcoin investments  can make you a victim of theft and extortion, what's even more dangerous is them getting more info on you like your location— which is what the article indicates. Don't make unwanted attention on yourself if you made some money on your investments, that is just dumb.

There may be situations where you can share some info on your investments. Such as getting some insights about it on your TRUSTED financial advisors, accountants, or your family members (I don't really recommend family members, they might be the one to boast about it to others) that can help you manage your bitcoin investments. Be smart 

The decision to keep your Bitcoin investments secret from others depends on your personal circumstances and considerations. Here are some factors to keep in mind:

Privacy: Bitcoin transactions are recorded on a public ledger called the blockchain, which means that they can potentially be traced back to you. If you value your financial privacy, you may choose to keep your Bitcoin investments a secret.

Security: Sharing information about your Bitcoin holdings can also make you a target for theft or hacking. Criminals may try to gain access to your wallet or steal your private keys, which would give them control over your Bitcoin.

Social stigma: Bitcoin is still a relatively new technology, and some people may not understand it or may view it as a risky investment. If you think that sharing your Bitcoin holdings could result in social stigma or discrimination, you may choose to keep it a secret.

Legal and tax considerations: Depending on where you live, you may be required to report your Bitcoin holdings for tax purposes or comply with other legal requirements. If you are uncertain about the legal and tax implications of owning Bitcoin, you may wish to consult a financial or legal professional.

In general, it is important to exercise caution when sharing information about your Bitcoin investments, especially online or with people you do not trust. You should also take steps to secure your Bitcoin wallet and protect your private keys, such as using a hardware wallet or a strong password. Ultimately, the decision to keep your Bitcoin investments secret is a personal one that should be based on your own individual circumstances and considerations.

When it comes to crypto, all should prefer to be rich and anonymous. 

Maybe my life is at risk? , OP you have a point and I will be careful from now on, many people knew that I am into crypto because that's how I keep getting people to teach about crypto, if I teach someone today he or she will bring someone new or group of friends.

In my view, the reason I'm safe is that many still doubt Bitcoin; the majority of my friends still think it's not something easy to do, and I also run another business. People who know me in person assume I'm a fashion designer, but they have no idea I'm also a full-time bitcoiner.

It is important to consider what surrounds us concerning our safety. In my neighborhood, there are a lot of hardworking and successful people, and I believe poverty is the cause of people's evil minds.

Never share your investment plans with any strangers. Families and close friends can be considered, but that’s not necessary also. It doesn’t matter whether it’s Bitcoin investment or any sort of other investment. It’s really sad to read news like this in the internet. Moreover the world has become so cruel that, in order to make money, people can do anything and everything. So I would better advise that not to tell about your investment plans with others.

Those closest to you need to know about your investments, this is important because the wife must have access to these funds in order to be able to provide the children with everything they need.

If you say that this is a matter of trust, then you will be right and you must completely trust your wife (or husband), otherwise what is the point of living with a person whom you do not trust? But a limited number of people should know about your investments, only those closest to you, whom you can fully trust.

Not everybody is your friends, mostly they are circle of influence and they're circle of interest as a friend's, so have a limit with them and also not to open your investment wallet, but rather discuss the the price movements of Bitcoin price, by advising to buy if them have, rather you have already have Bitcoin and keep it secret from friends.

Well, the same personal security prevention strategies are applicable for the money that you have in the Bank or the expensive jewelry that you are wearing in public. In my country you do not walk around with the latest phone or Gold jewelry in some areas of the city, because it is simply too dangerous.

Also, when you pay for something.... you do not flash a wad of cash, because you rather pay with your credit card or some kind of online payment that does not show your balance. This forum are full of scammers that are lurking around to find some kind of "hook" to get you to reveal your stash and also to dox you. 

Always invest with caution, not just on the market volatility, but also to the people around that may cause you harm in exchange of your assets. Whether they’re close friends or relatives, you should still put some limits and boundaries not to tell them everything about you and your investment. Sometimes when all our intention is just to motivate them to invest and be successful, instead they turn out to develop jealously on our achievements and plan some attacks that will put our lives into danger. The reason why trust should not be given easily to everyone, especially when money is directly involved.

In this world, I do not consider anyone as my own except my parents. I have seen many people fall victim to betrayal. Here you cannot guarantee that your friend will not cheat on you. So I want to say here that you should not trust anyone so much no matter how good you are. You may have a very good mindset but your friends may not have the same mindset as you. You cannot always judge others by yourself. I speak from real experience that I have been cheated by many of my close friends. You should always believe that you should trust no one but yourself.

Yeah I agree but at the same time, just mentioning cryptos and Bitcoin during casual IRL conversations can potentially get you into trouble.

Online, everything is more or less manageable, you can even give some personal information without being identifiable. You just have to select the information you reveal, remove the EXIFs and metadatas from the photos you publish, and have a minimum of protection for your IP. I'm not talking about social networks which I think are only tools to autodoxx.

To come back to my first sentence, I think you have to be careful, if you say to randoms "I have Bitcoin", even without specifying the amounts, many ignorant people will imagine that you are "rich". For many idiots and uneducated people, Bitcoin = wealth. Even if you only have a few satoshis.
That's why I never respond to IRL conversations about cryptos and Bitcoin, I don't even mention it. You don't know who you might run into. They can either come after you, or indirectly get you in tax trouble for example.

I don't really see a problem talking with my friends about crypto currencies, as I trust them and don't think they would do any harm to me. Most of my friends have at least invested a small amount in cryptos themselves and shouldn't be jealous when crypto prices are going to rise again. Also all my friends are already older and we know each other for a long period of time, if one of them would become rich overnight I wouldn't feel jealous and try to take advantage of it, rather I would feel happy for them. Talking with strangers about cryptos is something else completely, because you should never reveal how much money you have. Speaking generally about the idea of crypto currencies is fine, but don't tell strangers how many coins you have. It the same with Fiat money, you should never tell strangers on the streets how much money you have in your wallet or bank account. The same goes for the internet, some form of privacy should always be maintained as we can't trust strangers.

Thus they have understood the level of risk that will be faced and it returns to each individual to keep it secret or be open to everyone, but it would be nice to be anonymous is much more useful to prevent something unexpected from happening to each of us

There is no need to tell many people that you and I have assets in bitcoin, someone who knows the basic risk will keep this secret to the public, the anonymous nature of bitcoin is in line with the secrecy that we carry out in investing in, you don't even need to talk about it to friends close about the assets you have in bitcoin.

Do you invest forever and never sell the bitcoins that you have, that's the same as your statement above, that not everyone keeps bitcoins for a long time, because there are some people who will sell bitcoins when the price reaches ATH like in previous years.

Our secrets as owners of crypto assets are necessary. For me it is a privacy like a private key for a crypto wallet. But on the link you have linked it says that he is a luxury car dealer and a crypto investor. I believe he is an influencer or he is a famous person in his country. Such people I think are fair to point out they are crypto investors. My point is such a person is very difficult to hide the fact about it.

I just wonder how someone like that could be kidnapped. I mean does he not have a security team? Looks like I need to find out more about this person.

I see this as relative, because there comes a time when you can't hide it and it doesn't make sense. Think of Elon Musk or Jeff Bezos, for example. But without going to those extremes, it is not logical to have a net worth of $10M and live in a slum, hiding your net worth because it would be very dangerous if people in your neighborhood knew that you are rich. You can live in a neighborhood according to your economic level and drive a car according to your economic level, without hiding it.

The OP's case isn't that of someone who does not hide his wealth, it is that of someone who engages in stupid behavior. Letting on that you have a lot of money in a vacation spot, where you have traveled alone and are drunk most of the time is putting a bullseye on yourself saying "mug me" or "kidnap me", which is what has happened.