STOP telling people how much Bitcoin you have - page 6.

Rruchi man

legendary

Activity: 1498

Merit: 1116

Top-tier crypto casino and sportsbook

Quote from: ChiBitCTy on February 13, 2024, 12:25:44 PM

I see so many people that come around here sharing how much bitcoin they own...don't.

You put yourself at risk when you talk about your bitcoins, what you have, just like when you talk about your other success. Unless you are discussing bitcoins with people who you know own bitcoins, same amount as you or even more.

Jealousy can easily be germinated in someone you speak to about bitcoins, try not to water that evil seed by further sharing how much you own in btc to people who you may think pose no threat to you.

Keep things private, something not known by people cannot be stolen or destroyed.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: ChiBitCTy on February 13, 2024, 12:25:44 PM

I just wanted to share a piece of advice that I learned early on from Andreas Antonopoulos (if you don't know whom this is, I highly recommend looking up his YouTube page and watching his videos and or reading his book Mastering Bitcoin) never tell anyone how much bitcoin you have. Andreas use to say it's not our job to teach everyone we know about bitcoin, letting them know we own some "Let that be my job" he would say.

I see so many people that come around here sharing how much bitcoin they own...don't. Just like any of your finances such as your portfolio or how much your annual salary is..it's no one's business but your own. Being transparent about these things can be harmful to you in a multitude of ways. As an advisor this is something I tell my clients all the time. Your financial info is private and should always remain that way. I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

I see where is that coming from. Even I have seen those reels where people walk to strangers in luxury cars or big houses and ask them what they do for a living.
Some people even answered crypto. Speaking about your finances in public can be really dangerous.
It is a basic rule which everyone should be aware of. If people are still speaking about it publicly despite knowing this fact then let them be prey to fraudsters.

reagansimms

hero member

Activity: 952

Merit: 541

It's true, it's not our job to teach everyone we know about Bitcoin, but I don't want to be considered stingy in the field of knowledge when someone I know asks me to help him learn about Bitcoin. People's desire to learn about Bitcoin is increasing all the time, around where I live more and more people already understand everything related to Bitcoin, including safe storage of assets.

I can only maintain privacy so that other people do not know how many assets I have collected in the form of Bitcoin, this method can help prevent unexpected things from happening. Always avoid answering trick questions such as how long have you started investing or how many Bitcoins have been collected since starting investing in Bitcoin, because these types of questions can endanger your safety and the assets you have collected so far.

m2017

legendary

Activity: 1792

Merit: 1296

Playbet.io - Crypto Casino and Sportsbook

Quote from: ChiBitCTy on February 13, 2024, 12:25:44 PM

~snip

For beginners, advice about not disclosing any financial information is mandatory. Many people don't know this, and the first thing you should do is inform them about it. More experienced people no longer make mistakes and don't need this advice. And also, I would like to add that, according to my observations, questions regarding finance are asked by tactless and not intellectually affected people.

Public statements about the amount of bitcoin owned, like any money, are always associated with the risks of theft and robbery. Only ~~fearless~~ foolish people will reveal this information.

spiker777

sr. member

Activity: 1010

Merit: 279

Payment Gateway Allows Recurring Payments

Good advice, considering the fact that nowadays criminals are willing to harm people in real life specially for their bitcoin, it became more crucial now that everyone should keep their Bitcoin holdings to themselves, there is no point in Telling public about how much BTC you own.
I assume people would simply do that to show off and to impress others about how rich they are, but they don't know how many doors of risks they are opening to themselves.

Quote from: ChiBitCTy on February 13, 2024, 12:25:44 PM

I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

I've seen a lot of them too and I am pretty sure those social media videos are stagged, and anyone who answer them are not telling the actual figures, these rich people can't be that stupid, lol

nimogsm

hero member

Activity: 2632

Merit: 649

DGbet.fun - Crypto Sportsbook

Quote from: Litzki1990 on February 14, 2024, 08:08:00 AM

Of all the secrets I have, it's probably the secret of how many bitcoins I have. Sharing the amount of bitcoins I have with others is not likely to benefit me but if I share it with others they may try to harm me so why would I share this secret of mine with others. You should not share your bank account and how much Bitcoin you have with anyone. Rather, you should present yourself to the people you walk with in such a way that they find you very simple. Whenever other people know details about you then they will start envying you and in envy they will try to harm you. It will be seen that while trying to harm, those people are doing great harm to you, but nothing bad will remain. So you should be aware of these things in advance.

"Gentlemen don't talk about money"
In my circle of friends, it is not customary to talk about money and savings.The conversation can be abstract without mentioning exact amounts. Since discussing exact numbers can cause envy or anger and we don’t need this, this is a rule.According to my observations, those who don’t have it most often talk about money, and in this way they want to add more respect and importance to themselves. It’s also about crypto, my friends know that I have it, but how much and what they don’t know either not interesting.

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Quote from: ChiBitCTy on February 13, 2024, 12:25:44 PM

Your financial info is private and should always remain that way. I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

What you don't allow people to know about you they eull never know, sometimes we put ourselves in trouble by giving important information to strangers that can later harm us. Telling people the amount of bitcoin you have or letting them know your worth is very dangerous. I think this is something that needs to be private, telling people about the amount of money you have can not make you to have more money. Most people show up what they have just tell let people know they have money and to impress people.

For safety purpose their is no need letting strangers to know the amount of money you have on you. Investment in bitcoin is suppose to be very private, I don't see reason why people like boasting to show the amount of Bitcoin they have, they just feel it is necessary for people to know the amount of Bitcoin or money they possess.

Litzki1990

sr. member

Activity: 1386

Merit: 406

Of all the secrets I have, it's probably the secret of how many bitcoins I have. Sharing the amount of bitcoins I have with others is not likely to benefit me but if I share it with others they may try to harm me so why would I share this secret of mine with others. You should not share your bank account and how much Bitcoin you have with anyone. Rather, you should present yourself to the people you walk with in such a way that they find you very simple. Whenever other people know details about you then they will start envying you and in envy they will try to harm you. It will be seen that while trying to harm, those people are doing great harm to you, but nothing bad will remain. So you should be aware of these things in advance.

Assface16678

full member

Activity: 1484

Merit: 136

★Bitvest.io★ Play Plinko or Invest!

If someone is literally doing this thing, flexing stuff about bitcoin, or showing other people who don't have any idea or interest in what bitcoin is, then they are just shaming themselves or just bragging. If someone is listening to something that they don't know and you are talking about money-related things, they will have a conclusion or think that you are just showing off and bragging about what you have. Its not bad to share with others about your achievements, but out of nowhere or just suddenly saying that stuff is not appropriate. It's much better to be low-key when it comes to bitcoin stuff so that no one will be annoyed if they take an interest in it and keep nagging you about what they should do. It will be a hassle. It's not bad to help, but taking responsibility for them is not good, because, of course, you are the one who introduced and influenced them with crypro stuff.

Zigabel

full member

Activity: 462

Merit: 205

Duelbits.com

Its wvey irrational and not making sense enough to share your portfolio without with others when you are not sure of the personality such person carries, sometimes even family shouldn't be trusted that much for informations such as that because some of these people may not have good intentions towards you but may want to pretend because they are family But they may have a bad motive towards you unknowingly to you.

Your Bitcoin portfolio should be something you keep private to yourself and make sure to protect every of the information except you have a trusted person you could share with just should Incase there will be need for those person in the future.

Inwestour

hero member

Activity: 980

Merit: 947

Quote from: Blitzboy on February 14, 2024, 07:05:45 AM

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Many learn the hard way; I've seen financial transparency's risks. The comparison to not disclosing salary or portfolio size is accurate; they are personal expressions of our financial experience. As you correctly point out, social media trends blend private and public display, giving many a false sense of security.

I advise them to maintain their digital wallet as close as their actual wallet. Being transparent about financial holdings, especially in a volatile and targeted asset like Bitcoin, is risky. Your wisdom inspires people in the community to remember that in the information era, what we dont say has power.

I know people who enjoy it when they talk about how much they earn. It seems to me that only life can teach them, they will do it until they suffer financially from it.

It’s not worth talking about the fact that you have Bitcoin, but there are examples of crypto bloggers who show their lives and are not shy about talking about their funds. This desire to show off their success often ends very badly for them, but instead of it becoming a lesson for others, people continue to think that it will not affect them.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

What their doing is just flexing everything including their salaries and overall assets and that includes cryptocurrencies as well. I have read lots of incidents where people have been terrorized because they have been transparent with the bitcoins they have in their wallet and they were victims of kidnapping and some serious cases which include threatening their families if they don't give the bitcoins to the suspects. We need to know why we have bitcoins as our personal assets and one of the main reasons is we are hiding our money and our identity at the same time without getting help from any 3rd parties which is included banks.

livingfree

hero member

Activity: 3024

Merit: 580

Hire Bitcointalk Camp. Manager @ r7promotions.com

I couldn't agree more that it's not their business to know about how much we earn and how much Bitcoin we earn. And the same goes for them, it's not our business to know how much they have for the same things.

Quote from: Blitzboy on February 14, 2024, 07:05:45 AM

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Precise yet meaningful.

This is true that oversharing on social media can put you in danger. You'll never know that some of your friends have been stalking and monitoring your moves because you showing them money.

In their eyes, you're golden too but if you're just going to keep silent and remain low-key person that let things do on your own then you're loving your life to keep safe.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Blitzboy on February 14, 2024, 07:05:45 AM

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

It comes from their own personal traits and characteristics. Some people always want to have private life and they don't mind to share personal information exclusively profit from investment or what they invest money in.

Some other people, in contrast, want to be recognized by the crowd and they share personal information that they believe can help them to be more recognizable, more famous. By this, they self-break their privacy and worse, can have danger in life.

Quote

I advise them to maintain their digital wallet as close as their actual wallet.

I don't really understand this advice that seems to be incorrect too.

Digital wallets can be custodial or non-custodial, open source or close source.

A good wallet to use is open source, non-custodial.

https://bitcoin.org/en/choose-your-wallet

Blitzboy

hero member

Activity: 1344

Merit: 565

Leading Crypto Sports Betting & Casino Platform

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Many learn the hard way; I've seen financial transparency's risks. The comparison to not disclosing salary or portfolio size is accurate; they are personal expressions of our financial experience. As you correctly point out, social media trends blend private and public display, giving many a false sense of security.

I advise them to maintain their digital wallet as close as their actual wallet. Being transparent about financial holdings, especially in a volatile and targeted asset like Bitcoin, is risky. Your wisdom inspires people in the community to remember that in the information era, what we dont say has power.

DaveF

legendary

Activity: 3500

Merit: 6320

Crypto Swap Exchange

Smart investors have never really told anyone how much they have of anything.
Full stop.

BTC / crypto / stocks / bonds / property. Unless there is a need to know it, other people should not know it.

Not even for the risk that may or may not be involved, but for best practices.

Something changes and you want to liquidate something privately for whatever reason and later someone casually asks you what happened to that stock you had in DaveF inc?
When for whatever reason you didn't want that fully out there since you got a job working for Dr.Bitcoin_Strange Inc. who is a competitor of DaveF Inc.

And although it did not happen to me, yes the above did happen to someone who I have known for 30+ years and yes it caused an uncomfortable conversation with management when they found out that she was selling stock in the company that hired her while accumulating stock in the competition. All because of a small casual conversation at a party.

-Dave

Z390

sr. member

Activity: 938

Merit: 334

DGbet.fun - Crypto Sportsbook

To say the truth, I haven't seen anyone sharing the exact amount of Bitcoin that they own, the few I can find are those that are holding $100 worth of Bitcoin, and I guess that's why they even feel like sharing it, because the value isn't enough to put you in danger.

Mind you I can share the amount of Bitcoin that I own on here, there is nothing that links me to any form of identity, and I don't put my home address on any online platforms and websites, that's for this forum though, but it's sure dangerous to tell people in the real world about how much Bitcoin you have.

People can tell you that they have Bitcoin, but not the exact figure, it's left for you to think about it, maybe $10 worth or $100,000 worth of Bitcoin, there is no way to know, as a matter of fact, almost everyone on this forum has Bitcoin, the exact amount that each person have remains unknown.

criptoevangelista

sr. member

Activity: 448

Merit: 691

In ₿ we trust

Quote from: lovesmayfamilis on February 14, 2024, 05:55:04 AM

You can also add the expression that both fiat money and Bitcoin love silence. By talking about the amount of money in your wallet, you not only arouse envy, even if there is little in there, but also additional interest from those who can go to great lengths for money. People who do not know about Bitcoin sometimes have the misconception that if there is Bitcoin, then there must be a lot of it.
An example is the recent story in Thailand when robbers took cryptocurrency from a Russian couple. And as it turned out, these robbers were also citizens of Russia. Question: Maybe the couple was too open with stories about their savings?

https://coconuts.co/bangkok/news/russian-tourists-claim-robbed-us100000-worth-bitcoin-thailand/

These people were possibly talking about this openly on social media, or even showing their private assets openly to the public. I've always been very afraid of exposing anything on these social networks, especially related to my family or achievements, there is always someone watching everything you do, including people with bad intentions.

thieves are always looking for victims, today they look for them remotely from anywhere in the world, just monitoring their lives online, we need to be very careful in what we decide to post to the public

lovesmayfamilis

legendary

Activity: 2072

Merit: 4265

✿♥‿♥✿

You can also add the expression that both fiat money and Bitcoin love silence. By talking about the amount of money in your wallet, you not only arouse envy, even if there is little in there, but also additional interest from those who can go to great lengths for money. People who do not know about Bitcoin sometimes have the misconception that if there is Bitcoin, then there must be a lot of it.
An example is the recent story in Thailand when robbers took cryptocurrency from a Russian couple. And as it turned out, these robbers were also citizens of Russia. Question: Maybe the couple was too open with stories about their savings?

https://coconuts.co/bangkok/news/russian-tourists-claim-robbed-us100000-worth-bitcoin-thailand/

Emmanuelex

jr. member

Activity: 137

Merit: 2

You don't go around telling people you own Bitcoin, it's just like going around and telling people how much you have in your bank account and how much you have kept at home. Such information is something that's meant to be kept a secret. I don't tell my friends or anyone about how many bitcoins I own, there are other ways to show you're a Bitcoin enthusiast and it's not by telling them how much you own, but by sharing knowledge.

Topic: STOP telling people how much Bitcoin you have - page 6. (Read 1268 times)