Topic: STOP telling people how much Bitcoin you have - page 7. (Read 1156 times)

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.

I agree not to say in detail how much Bitcoin we have, just the big picture for example just an investment and nothing more. Because if you overexpose your Bitcoin holdings it will be very dangerous. Now, the increasing popularity of Bitcoin requires us to be able to maintain ownership properly and safely. For me Bitcoin is the main capital to achieve freedom of life and simply enjoy it myself. In social status and also in the business world, this kind of principle is also considered important, because successful people there always keep the capital that enables them to achieve success a secret, and let other people judge it in their own way. Bitcoin ownership is the same, Bitcoin ownership is secret but the output is for other people to judge for themselves.

Just for context, there is only one person who knows the exact amount of Bitcoins that I have (and she also knows my crypto portfolio), and there's only one person who knows that I'm into crypto, and I'm holding Bitcoins. The good thing is that we're both involved in crypto as well so he's holding some coins and Bitcoin as well,

I don't tell anybody how much Bitcoin that I have, but there are times where they're asking me regarding Bitcoin and if I'm holding some. I just answer yes, and will not tell how many for my security as well. Nevertheless, telling how much Bitcoin you have for me is like, you are bragging it to them. Don't do it. Telling it to other people will not benefit you, but instead it might cause harm and you might get in danger as well.

I mean, is there anybody here who shared the total amount of Bitcoins they hold to other people? I mean other people is that, people outside your family?

I saw someone who tells how much they have as an influencer to attract for their new follower, I never see someone like my friend telling me how much they have but just said that they investing in Bitcoin. Telling how much you have is not that risky I guess as long as we keep ourselves safe from hacking methods, if we can encourage our friend with our portfolio from Bitcoin so he will learn about Bitcoin I will gladly show him how much I earn just holding Bitcoin in a year from the last bottom price.

I've never actually read on this forum someone saying how much they own. If they do, it's an estimate, and 90% of the new posts here nowadays are all fake stories. Influencer clickbait nonsense like "I got my friend into Bitcoin" or "I just made a new business for $50 in BTC.

You wouldn't expect people to say how much savings they have or salary they make, unless it's between coworkers trying to negotiate common raise.

So it's not really advice, I think, just normal safety things to act with money.

I will lose a friend if that is my approach to them and will not do that approach since its like disrespecting them. If they ask politely then maybe I will answer them without trying to insult or hurt there ego, but as always I will not disclose any figures to them and will just say just have few chunks so they will not ask more. I know its hard to tell anyone about our balances especially if we hide huge amount in our wallet since we don't know if we can still trust them if those people know that we have a lot of money hidden on our personal wallets.

Revealing our account in public might really be a dangerous action that we do that's why its highly been discourage for anyone to do this so that they can assure their safety. Also I always believe that staying at low key life can lessen up the risk to get personal problems related with our BTC holdings.

I don't think I would also have kept such information from my friend, especially if the person is also interested in bitcoin, and it is even more better to always keep your investment in bitcoin a secret because of some valuable reasons, and the investors safety too, because the moment that information is everywhere then you will be a target to people and even scammers, they will look for different means just to hack you and steal your bitcoin and i can share such information with my family but what if you family shared the information with who they are not suppose to share with.

And as an investor of any kind of business knowing what to say and minding you business is a good sign that the person is growing because if you don't learn how to keep your mouth shut then there will be a lot of challenges and that is why some people are still have security issues until now, because what they would have kept a secret they have exposed everything and that way the problem have started.

My friends know that I have invested in Bitcoin, and whenever I meet them they come up with the topic, how many Bitcoins have now accumulated?. My reply to them has been sometimes straightforward and sometimes in a polite manner always is mind your own business. The habit of not disclosing the status of the bank account to everyone should also apply to the Bitcoin wallet. Revealing about your account status in public or to anyone might bring trouble to oneself as you never know what might be brewing in the minds of others.

Most of the videos that is like do these things like asking how much they are paying when it comes to their rent are really popular since people just are amazed that they are paying that much for just rent, probably depending on how good the location is, there are videos where they even tour the youtube to there own apartment which I think is fake or a setup because you wouldn't really let someone or a stranger at your own home that easily.

I guess people just want to actually brag on social media for sure just for the views or something like that they would really want attention these days, revealing this kind of information is going to boost their posts maybe.

Personally, I wouldn't really reveal sensitive information just for security reasons for sure, I mean we just don't know what people can do there are also cases of this where people could easily force you to take your Bitcoin or even your funds. It is for sure safe but if it is life-threatening already they could easily forced you to send a certain amount probably to the other wallet and you cant recover that fund anymore.

You raised a good point that needs discussion, I also watched these videos, and the amazing thing is people are so happy to give away their personal information like it is nothing, only because they will be on the Internet, thousands, and millions of people might watch them. This makes them excited and they throw away the information that might be used to scam them either.

For example, I saw a video in which a person was asking parents (especially the father) about the DOB of his son and daughters, and he was not remembering it while the wife was throwing away each and everything like it didn't matter, the only thing that matter is to make my husband feel the insult in front of camera hey (haha). Sorry if anyone is offended.

I suggest the same, and try hard not to expose what I have even if it make other thinks I am doing a great job, or to make a good reputations in other's eye.

The secrecy in demand to keep your owned Bitcoin volume in a private note due to security conciousness is likewise the same of telling out there how much you have in your bank account with the risk of it being that you have the money right there with you. Due to the digital and electronic era of transactions these days, people doesn't look at your pockets or physical wallets anymore, all they needed is to know your networth and so they can take you with a rebelling or any form of harmful manners and then, forces you to make a deal of ransome with with an immediate effects through an electronic transactions.
So, this is to say that the physical finances aren't more attractible anymore before one thinks evil against you.

Telling people amount the amount of Bitcoin you own is even worse because the Influence that upholds owning Bitcoin to the hearing of the public is indeed something attractively different, they literarily feels anyone who deals on Bitcoin is a Big shot worthy of millions of investments to the hearing and sights to the public thoughts.
Limit public attentions in you despites your financial capacities and better safe yourself from dangers or you can minimize the manner of thoughts of people towards you.

absolutely agree with OP!
I would also add that it is useless to talk about bitcoin in public/even with friends or relative. Of course for security reasons! 
you never know what our interlocutor might think. “he has bitcoin = he is rich”.
Imagine if you met someone who told you about it when it was worth a few dollars. nowadays you will be sure that he has practically become a millionaire...

The more you are private with some things, the better and more mature you actually are. You do not have to be running your mouth all the time, and the fewer people know about you, the better. This is not about strangers alone, even friends and families shouldn't know everything about you because you do not know the content of their thoughts toward you and how they will feel about your progress, not to mention what they can do to rob you of your joy.

Particularly about the stranger, though it is unspeakable to be allowing strangers to interfere or have the privilege to know so much about you, at times too, the country you are in and your status matter if we are using social media to judge. Some countries are more secure than others, so telling the media stranger about you based on the question they asked might just be a mere interview. It could bring you into the spotlight but no harm may happen. If not, people would have stopped disclosing such.

But for Bitcoin, I do not think it is good to disclose your worth in it whether it is for media purposes or not. Crypto is a different asset entirely that attracts privacy risk if disclosed.

I suppose asking the question (how many Bitcoin do you have) is one of the first that comes to mind when engaging with someone that is not familiar with crypto or Bitcoin in general. I do not think that is a very bad thing if they are curious and it is because they probably try to make the connection between it being real money or not.

Slightly off-topic, some people crypto is still something that is not mainstream enough. It is because they have been used to reading stories about hacks and crypto being stolen as well as (the unfairly made connection with) money laundering, that makes some people not learn about the basics of Bitcoin as for them it is associated with crime.

These are indeed personal and, therefore, confidential information. I also don't tell people how much Bitcoin I own. As a matter of fact, as much as possible, I don't even tell people that I am into Bitcoin.

However, there are circles or communities in which you may seem comfortable sharing certain information. This forum, for example, is more or less composed of like-minded individuals, that's why one could be somehow comfortably open about sharing that he/she has Bitcoin and it is kept in a cold storage whose seed phrase is buried somewhere.

You shouldn't tell other people that you own any Bitcoin at all, and that means never bringing up this topic ever. But if you already made such mistake, the second best thing you can do is to lie to them and significantly downplay your Bitcoin holdings to the point it won't attract much attention. Because if you try to be evasive and not give any concrete number, people will naturally start suspecting that you're very rich, and I think I don't need to point out all the negative implications of that.

Right on this forum, I have also written many comments concerning this issue of sharing one's cryptocurency investment information with others. Even sharing your investment information with your kids when they are not yet adults is risky because children talk a lot, and you don't know where or whom your child will be giving that information to. 

For example, if you told your child what Bitcoin is and also told him or her that you have 100 bitcoins, let's say in school or in a random place, the child is having a conversation with their friends, and he ends up saying, "My daddy told me he has 100 bitcoins and that the bitcoins will make us very rich." If, as the child was making such a speech, a scammer overheard it and decided to start tracking the kid, what would be the end result of such a situation? (I believe we all know how it can only end.). 

I can actually tell people or even teach many people about Bitcoin, which I have been doing, but the mistake I have not made is to tell them the amount of Bitcoin I am holding. Even in my business, I accept Bitcoin payments. Most people ask me what I do with those Bitcoins, and I just tell them that I usually sell them to Fiat, which enables me to buy more goods. But that's not the truth. I still have my strategy, which is why I am able to hold a large sum of Bitcoin.

This is the common question the majority of us encounter, and when I'm asked about my holdings, I used to say that once I had a few bitcoins, but now I'm done with them and I don't have anything left. People never ask further questions because, in the past, my life was completely dependent on cryptocurrency and I was spending a lot of money. Now I don't have any, and I've changed my lifestyle, and people will be noticing every change. As mentioned, we should not say it to anyone, and I've made this mistake in the past. None have stolen or threatened me, but many have said he has big money, and finally, I don't have anything.

question: How many Bitcoin  do you own?

reply: Can you keep a secret ?

Answer: Yes, of course...

Reply: Me too

actually people won't know how much bitcoin we have, IF we don't start discussing what bitcoin is,
However, sometimes we intend to introduce Bitcoin to our friends, but what actually traps us is being asked how many Bitcoins we have
So before being asked how many Bitcoins you have, it's better to save discussing the Bitcoin issue


just my opini