Topic: STOP telling people how much Bitcoin you have - page 2. (Read 1268 times)

Personally I really enjoy reading success stories here on the forum. It's nice to see how other people got into crypto currencies and how they overcome their own struggles. For me these stories are not really so much about how many bitcoins someone owns today, but rather about people that believe in something and follow their strategies. If someone takes the risk of buying bitcoin than he should also be rewarded for that. I am not going to look at someone differently just because he owns 10 bitcoins and is bragging with that publicly. It's the same like meeting a person that directly tells you he is a millionaire, this is not something I care about and I don't see any benefit of sharing that information publicly. Because I don't even know if the information is true, and if it's true then this just puts a target on your back. There might be people that want to take advantage of your wealth and this could lead to big problems.

Ah great I thought it was only me who had been asked about how many bitcoins I own. This question was asked after we had discussion about how bitcoin is good investment. Peeps dont talk about how bitcoin is goo investment or why is it good investment opportunity? They will straight go to the question how much you own or how much worth is it! That is actually funny. But anyways, I usually end up telling them that I keep buying bits now and then so that I can follow the strategy of DCAing making me good returns over the period of time. I really think that its none of anyones business to ask how much we own, what they gonna do about it?

Someone who keeps Bitcoins in their Wallet should learn from Satoshi Nakamoto attitude. Even though Bitcoin is starting to be widely adopted almost all over the world, he still adheres firmly to his principle of keeping his identity anonymous. Bitcoin is a valuable asset like gold and other property, whoever owns it has the responsibility to look after it well.

You have the right not to answer questions like that, maybe it's just a trap for them to find out how many assets you store in Bitcoin. Satoshi intelligence in maintaining the security of his identity must be followed by all investors who store Bitcoin in their wallets. Close the space that could endanger yourself and your assets by not telling anyone how much Bitcoin you store.

It's quite inappropriate to tell others about your investment hand not even the closet person to you,  this is because when we talk about money,  most especially in an overhyped asset like Bitcoin,  many have misconceptions about Bitcoin investment and this is because of the lack of knowledge on what Bitcoin really is and how best to handle it as an asset.

You are right when you say that,  when people know that you own Bitcoin,  they will think you have a lot of money,  and not want to know how much of Bitcoin you actually own.

Bitcoin investment has to be done with high privacy and one of the unique features of Bitcoin is that it doesn't have a physical representative and at that,  you only give people access to your Bitcoin holding informantions only when you want to do so if not,  you can remain anonymous forever.

Telling someone how much Bitcoin you have is obviously rude because it's the same as telling them how much money you have in your bank account. These people can cause a lot of problems for you because you never know who you will give your secret to. Alternatively, you might say that while the person is filming, he might share the video online and you have no idea how many thousands of people will watch it.

Since a smile is only on the face and we have no idea what is really going through people's minds, we should exercise caution when doing things or disclosing our secrets to others. It's as if you were disclosing your secret to the world and they might start looking for your investment in an attempt to con you.

At present, any financial information must be kept confidential. Otherwise any kind of untoward incident may occur. We envision Bitcoin not just as money, but as an asset of the future. If the information is shared with anyone else, that money will be at risk. Bitcoin digital currency and digital wallet are safe to hold but insecure if there are flaws in its security aspects. Covetousness over other people's property has become a common trend of people. The number of scams has increased so much that there is no room for people to neglect past security. If the bitcoins were held by a third party, I could blame someone else or take legal action, but there is no way to do that as i am the responsible for the security of my own assets.

Bitcoin is equivalent to money so keeping your financial holdings a secret is definitely something that everyone should do because the world today is a an evil world and you don't what the next person would be thinking or capable of so i wouldn't advice anyone in any situation whatsoever to actually let people know about their financial background, i believe keeping it a secret reduces the eye of people on you because you cant attack what you dont know about.

Sure, if someone is aware about the personal data, he won't share it to other people. Personal data isn't something available for sharing, we must keep it secretly. So if people ask about the number of our Bitcoin, just ignore the question. It is not a proper question to answer, we can suspect there is something wrong with the people. The number of Bitcoin and the amount of money in the bank account, are 2 secret things that should be forbidden to share with other people.

Bitcoin or fiat money, its never been recommendable that you should really be that sharing up in regarding about information on how much you do hold or how much you do actually posesses on which this is really a
private thing or information on which on the time that you would really be dealing up with other people even if we do speak that it would really be relatives then there's always the risks on telling on how much you do
really have. We do know that when it comes to money then anyone could instantly changed up and this is something that would really be totally a risky thing to be done.

Stay yourself being low key. Accumulate coins as much as you could on a secret manner on which you wont really be that be able to mess up yourself on letting someone on how
much you are possessing. Its always been that important and its always been that safe on how to deal up with things and act accordingly.

If you keep telling people about the Bitcoin that you're holding, one day the people you told about your Bitcoin will plan evil for you. People are looking at people that own Bitcoin as very rich individuals because of the way Bitcoin has been rising and being on the news for giving investors profits. You might just be investing in Bitcoin recently but as you tell you friends that you have Bitcoin they might think that you have being holding Bitcoin for a very long time and your have made big amount of profits. Don't tell anybody about your investment so you don't becomes a victim of attack. Keep holding your Bitcoin and only tell your family members that involves your wife and children so if your suddenly pass away they can get access to your investment and not suffering when you have money in your investment that's growing.

Yes, it's true how dangerous it could be sharing how much money you own in Bitcoin to either family members or friends, and not just only Bitcoin in this aspect, but how much asset/finance you owned to third parties. Due to the fact how many have lost their lives sharing this details to the wrong whom they trusted, and as such, disguising oneself remains the best way to live long in this 21st century, just as Satoshi Nakamoto disguised himself (i.e the true creator of Bitcoin)

Yes, I also agree with you on this to either work away when been approached by these content creators who goes about asking people "How much money they make yearly". But in a scenerio where you wish to play along the line, you could probably divide how much you make a year into half or quarter and tell those people that's how much you make, without telling the public the exact figure.

I have none.

yes agree, however if you haven't bought all your BTC P2P in a private way (VPN, fake name, email etc), the government knows exactly how many BTC you bought (& they're the biggest criminals). Whilst they can't easily prove how much you have at any one point, as BTC is pseudonymous, it's no where near ideal. so I think this much more concerning than a $5 wrench attack.

Of course, keeping the secret about our assets is a must if we want to be safe in crypto investment. When people know our assets, they may think negatively and may plan something badly. This is probably threaten the security of our assets. And this is also possibly dangerous for ourselves. Even if it is our friends, they also may have the desire to rob our assets.

It is a good way to keep hiding your Bitcoin. People don't need to know about our Bitcoin. There is no advantage that we share the information about our Bitcoin to others. If we want someone to know it, we just share the information to the very close people (wife, children, parents). The secret data about the Bitcoin shouldn't be easy to share to others.

I think that probably just at that moment they realize that we are talking about personal things, that shouldn't be shared with people. In a certain way I can also understand why some people ask this kind of questions: if you're not into bitcoin probably you don't take it seriously and you struggle to understand that it's money, so it's private.

You know, I read this issue on this forum a lot, perhaps more than any other, and I always keep coming back to it. Although you guys go by different titles, you both seem to be trying to advise people not to reveal how much bitcoin they hold to just anybody.
 
I believe that certain people are displaying their riches or bitcoin holdings in order to show their financial status or investment ability. I mean, it may be a way to get approval or affirmation from other people. Perhaps they are proud and want to brag to others, which is one of the reasons they want to tell everyone how much money they make. People tend to think that if you spend a lot of money on anything, it indicates that you are financially capable and that you have succeeded as a result. Perhaps this will encourage other people to invest and check whether it is legit or not.

Do you mean you wanted to solve the problem of transferring the ownership of your coin in case of unforeseen circumstances? This is not new here and is never a big deal as well. Many have lost their cryptocurrencies due to unforeseen circumstances, and their family members are not even able to have access to them. If it is your plan to avoid it, you can plan more on it, you should just come up with a cogent idea and you will be fine. But you have to still be very careful in this regard, it is not every family member you can trust. In some cases, not one's wife, children and relatives you can fully trust, so extreme caution is involved here. This is also the gist the OP is trying to pass across in this thread, it is not limited to your friends alone.

There have been cases where spouses and family members are the devils and betrayals, and there are situations where it is the friends. It can be any of them in anyone's cause, and that is why they call it "betrayal," something you least expect. So be wise. I've resolved to always update my assets in my Will, the crypto asset is included as well, and it is in such ways that some access will be with my lawyer in the Will document, while the other access to make it completely accessible will be with my spouse/children. By that, if anything happens, they can solve the puzzle together instead of revealing my assets to them carelessly.

Perhaps, that's the way you let everyone gain access to your bank account with huge money or your life savings?

Exactly, that's a common problem among a lot of people who either have become rich all of a sudden or those who have inherited wealth from their ancestors, and people who fly in the sky often have to taste the dust at the end of the day. That's why, people that show off everywhere about how much money and assets they have become easy targets for those sly scammers who are always looking for people that they can fool.

What's amusing is such people are often easily vulnerable to such things because they don't know anything at all, if you sit beside them and give them a couple of compliments, they will start feeling great and you can easily get a friendship offer if you try a little harder, this is exactly how they get scammed every time.

Absolutely. I don’t know but as long as money is involved, it’s like no one can be trustworthy of that as even your closest sibling or even your best of friends may plan on attacking you behind your back.  Bitcoin is not an exception as it’s even more than your fiat’s value in your bank account. If you want to pursue your investment and live your life safely and privately, hence never share what you have in your investment portfolio because people will surely not be pleased to hear that.

Sometimes, your success may be their greatest downfall. So be careful on sharing to them. You don’t know what they’re thinking when you start disclosing your plans. Most particularly when it comes to bitcoin, it’s better to deal on it anonymously.

That question is actually not correct, because if someone answers that question, it means that he is not sensitive to such a question. Think of it as if you are saying how much net amount of assets you have, and this is a signal that you are giving a reason for other people to do bad things to you who take advantage to do bad things to others.

Therefore, it is a great stupidity to answer such questions. Unless it's a big company or well-known in the business industry, if it's an individual, that's not really right for me.
Probably, if we change the question that could help more to other that is much better I think.