Topic: Importance of not letting others know about your crypto holdings - page 3. (Read 497 times)
November 09, 2022, 09:25:36 AM
I always remember my cousin when he told me before to trust no one when it comes to money. It was a piece of advice because I used to let some of my friends borrow money but most of them aren't paying me back, especially when the time I needed it most. It is really true that people really change when it comes to money based on my experiences as well. It is better to keep all our financial assets secret as much as possible. It is enough to let 1 to 3 people you entrust most and give them a hint in case of emergency.
November 09, 2022, 09:23:02 AM
It sounds like a fake story 
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
It doesn't matter if this story is true or not, but we can learn the lesson that we shouldn't trust anyone but our family. We should not brag to someone that we have a lot of money, not only with bitcoins but with all our possessions. I joined the market very early but until now my neighbors still don't know that I own bitcoin, they just know that I am a guy with a stable job at a company near my house and a small shop to trade.
November 09, 2022, 08:54:49 AM
the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
We often trust too much, and trust is an expensive commodity in the market these days. For people you trust, when you are around them, the tendency to let your guard down becomes higher simply because you trust them. Even apart from not letting and telling people you think you trust know the exact amount of crypto you have; you should also avoid giving an exact amount of fiat that you have especially when it is an amount that can be tempting to someone. People you trust can still exploit that trust you have in them and take advantage of you. As an individual, it is now better to always keep the trust you have in people under constant reevaluation, so you will always be conscious and will be difficult to be taken off guard.
November 09, 2022, 08:25:41 AM
So let me share a real incident with all of you that happened two months before in India. There was a businessman and he used to own some crypto for trading and also as an investment. His friends came to know about exact amount he had which was quite big amount in my country. It happened because he casually mentioned it to them and showed them his investment and profit.
Now these friends made a plan and kidnapped him and then asked him to trasfer all the crypto to their wallets. It was about 3 BTC in total. But the good thing was that he escaped them and then told police about all this and the funds were recovered. But he could might have lost his life and all the crypto because of this incident.
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Now these friends made a plan and kidnapped him and then asked him to trasfer all the crypto to their wallets. It was about 3 BTC in total. But the good thing was that he escaped them and then told police about all this and the funds were recovered. But he could might have lost his life and all the crypto because of this incident.
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
So important not to tell anyone about your holdings because we don't know if people around us will praise us because if they found out that we hold a lot of money maybe this one will cause us harm since anyone can do bad for money especially if they need that badly.
So better stay low key and slowly change your lifestyle so that they will not get surprised about little changes happen to your life.
November 09, 2022, 08:19:09 AM
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Or, never tell anything at all that may involve money, trust no one. I even rarely tell my wife how much I own but she's not the persistent one so it's fine for both of us in the end. Not everyone was really happy with what they got, others get jealous or they have others intent bad behind you.
November 09, 2022, 08:15:32 AM
Don't make your life known to other people and never make use of your money to gain fame and recognization cause we never that one of these people is just looking for an opportunity to get it from us. I hold crypto, and I tell my friends as well, however, never I discuss how it gives me money but rather tell them how it was useful to us in this generation where we are in digital adoption. In that way, they will think that crypto is just a currency like fiat money, not an investment. So, nobody has an interest in me. 
November 09, 2022, 08:14:08 AM
It sounds like a fake story
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
This account might also be real. We have had several cases of people escaping from the kidnappers' den in my location. Kidnappers are humans and are prone to errors. They can oversee or even fail to secure their hideouts.
It's hard to trust people this period because greed and materialism rule the world. There are so many stories of close family members killing each other because they want to have access to the victim's money. Currently, people can do anything just to get money. Revealing your financial status to only trusted persons is paramount because unveiling it to more persons increases the chances of becoming a target of these criminals.
November 09, 2022, 08:12:03 AM
If the goal is to get people to know more and try to follow what you are investing in, it may have a positive impact. But such cases have also brought him into danger. I prefer to keep my holdings in crypto assets confidential. Although other people know what I invest but not by the amount and the most important thing is not to show off my popularity in public. The nature of large ownership always makes us want to look valued and show off in the eyes of the public as a social status.
November 09, 2022, 08:07:43 AM
As has been said, this is not just a crypto thing. Don't let people know how much liquid / easily available funds you have in general.
It's not just the criminals who are going to rob you, or kidnap you and hold for ransom. It's the conmen, the relatives who need money, the tax people.
No, I'm not saying you should tell nobody. But, keeping your finances private and only let some people know is always a good thing.
-Dave
It's not just the criminals who are going to rob you, or kidnap you and hold for ransom. It's the conmen, the relatives who need money, the tax people.
No, I'm not saying you should tell nobody. But, keeping your finances private and only let some people know is always a good thing.
-Dave
November 09, 2022, 07:13:50 AM
Envy and jealousy is a very bad thing. Not everyone who rolls with you are your friends. No matter who they are there should be boundaries as to what you reveal to them and what you don't. This extends far beyond your crypto holdings. This goes further into other investments - real estate, companies etc.
This brings to mind the Law 2 of the 48 Laws of Power By Robert Greene: Never put too much trust in friends, learn how to use enemies
Be wary of friends—they will betray you more quickly, for they are easily aroused to envy. They also become spoiled and tyrranical. But hire a former enemy and he will be more loyal than a friend, because he has more to prove. In fact, you have more to fear from friends than from enemies. If you have no enemies, find a way to make them.
This brings to mind the Law 2 of the 48 Laws of Power By Robert Greene: Never put too much trust in friends, learn how to use enemies
Be wary of friends—they will betray you more quickly, for they are easily aroused to envy. They also become spoiled and tyrranical. But hire a former enemy and he will be more loyal than a friend, because he has more to prove. In fact, you have more to fear from friends than from enemies. If you have no enemies, find a way to make them.
November 09, 2022, 07:01:51 AM
~snip~ So the lesson here is to never tell anyone exact amount you hold. ~snip~
One thing: don't show off. It doesn't matter how many bitcoins you have, how rich you are, how good you are, just don't tell anyone.Two things I've been doing while interacting in the real world; act like you have nothing and act like you know nothing. It will give you 2 benefits:
1. Everyone thinks you are not rich; this is good for your money and safety.
2. People will give you knowledge once they think you're just an idiot.
November 09, 2022, 06:41:02 AM
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Heck, I'm going to go as far as to not mention bitcoin/crypto in general unless really needed. Pretty much only my closest friends know that I'm into crypto, and I mention my other non-crypto ventures when asked by other people about my income.
I do the same but not because I'm scared but it also changes the social conversations into something awkward where they ask me if it's legal, if I'm laundering money, if I'm a hacker. I had enough of it so now I tell people that I manage social media and stuff
OP is showing a general problem with showing off wealth, not only crypto. There's a guy in my town who was a famous youtuber and he bought a Mercedes AMG and used it in his videos. The car was parked in front of his house surrounded by a high fence and automatic gate. He also had cameras. Some guys came at night, unscrewed hinges of the gate and moved it out of the way, then used an electronic cracking tool to find frequency of his car, unlocked it and drove away. The car was later recovered but some of the parts were stripped. They probably got 10k just for the wheels.
November 09, 2022, 06:19:13 AM
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Or, never tell anything at all that may involve money, trust no one. I even rarely tell my wife how much I own but she's not the persistent one so it's fine for both of us in the end. Not everyone was really happy with what they got, others get jealous or they have others intent bad behind you.
November 09, 2022, 06:12:56 AM
This story is not only applicable to crypto hold. it's a story about criminals who want someone's money, the form of the money doesn't matter.
what is interesting to me, is how the hell your acquaintance considered such people to be his friends. let's be clear, maybe that amount of 3BTC seems big to you, but it's certainly not big enough to risk prison. even if that amount is divided among several people, it is definitely not worth such a risk.
so, they weren't real friends, plus they weren't particularly smart either.
what is interesting to me, is how the hell your acquaintance considered such people to be his friends. let's be clear, maybe that amount of 3BTC seems big to you, but it's certainly not big enough to risk prison. even if that amount is divided among several people, it is definitely not worth such a risk.
so, they weren't real friends, plus they weren't particularly smart either.
November 09, 2022, 05:44:21 AM
~
Was it locally reported in India? I do not reside in India, but I have never read any news about any kidnappings of a businessman in crypto.This unwritten rule does not only apply in crypto but to fiat as well. Never tell anyone how much you earn weekly, daily, and even monthly. Even if you see plenty of influencers like Musk and Jeff out there sharing their net worth to the whole world, you are far more at risk encountering some scums including backstabbers from either your friends or anyone inside your social circle.
Usually I just tell my relatives and close friends that I am particularly just an enthusiastic about crypto, but I had never told anyone that I am earning from it.
November 09, 2022, 05:43:15 AM
He's lucky not to have learnt a lesson frombthe best mistake of his life, having 3btc is not something some holders could consider big because they have about 30btc in their disposal, but his mouth could have place him to where he would ever regret being, i wonder how he had managed to get to where he was without being secretive, privacy is what some people with their own hands chased away and they will always find excuses to blame others for thier actions they should be responsible for.
November 09, 2022, 05:29:20 AM
You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Tbh not even people that are part of my contingency plan in case something happens to me don't really know how much in crypto I have and you simply don't share that info around (I can understand telling your wife though if she asks).How can a kidnapped person can escape and told the police about a criminal in his home?
Maybe kidnappers were amateurs (and probably are as they were his "friends") that made a mistake and he managed to escape, and who said that they were still in his home when police came? I don't see it as very unlikely to happen.businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
Since he said that funds were recovered, it probably means that kidnapped person eventually gave them bitcoin, and after police arrested them they managed to retrieve it.
November 09, 2022, 05:01:09 AM
So the lesson here is to never tell anyone exact amount you hold. You can inform just one member like your parents or wife about this so that they can recover the funds in case anything happens to you but never tell this information to casual friends or distant relatives.
Heck, I'm going to go as far as to not mention bitcoin/crypto in general unless really needed. Pretty much only my closest friends know that I'm into crypto, and I mention my other non-crypto ventures when asked by other people about my income.
November 09, 2022, 04:13:21 AM
It was dumb to show what he earned exactly really. If you really wanted to share (or brag), vaguely suggesting it should be enough, no need to go into specifics about it. If possible you don't really have to share it, especially if your profile was pretty vulnerable/public to the people you were sharing it about.
Got curious and snooped around, and found this article detailing a kidnapping and ransom event.
https://en.cryptonomist.ch/2022/08/19/beaten-kidnapped-exchange-bitcoin-india/
Except it wasn't 3, it was 8 BTC.
Got curious and snooped around, and found this article detailing a kidnapping and ransom event.
https://en.cryptonomist.ch/2022/08/19/beaten-kidnapped-exchange-bitcoin-india/
Except it wasn't 3, it was 8 BTC.
November 09, 2022, 03:55:21 AM
It sounds like a fake story
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
How can a kidnapped person can escape and told the police about a criminal in his home? businessman or an average person doesn't learn self defense since they're only learn about money management and investment. I just imagine a person who get kidnapped or $5 wrench attack, they must tell the private key or seed phrase to the criminal since he will scared and think his life is more important than money.
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