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Other => Beginners & Help => Topic started by: 1miau on June 11, 2020, 06:10:24 PM



Title: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on June 11, 2020, 06:10:24 PM
At first glance it doesn’t sound bad to tell other people that you own Bitcoin, but there are some details to keep in mind:


Telling all of your friends might not be a good idea

Even if they are your friends you should be very careful if you tell them about your crypto holdings.

As always, there are also those who quickly become jealous, especially if they think that you are rich (but you aren’t) and start begging that you could give them some of it. This can lead to distrust and a previously good relationship can be permanently damaged.

Or in opposite, we all know some of them can’t keep a secret and tell it others and they are telling it others again. Then, it’s possible that people get to know about it, who are jealous / have a bad relationship to you / or are just criminals and plan a robbery to get your crypto.

After all, the more people in total know about your holdings, the more likely it gets bad people find out about it.



Linking your identity on the Internet to your real identity can be very dangerous

It’s generally not a good idea to use real names on the Internet, especially when it comes to cryptocurrencies. This applies to forums, public social media accounts related to cryptocurrencies as well as for all services, where we have to use an email address or similar.

Since an email address is always required to register various accounts, you should use a newly created email without your real name. This protects against spam and also against scammers who want to find out your real name and address.

Using social engineering, scammers could draw conclusions about the person, how much crypto they own, find out where they live and plan a robbery.



KYC can also reveal your identity to people that shouldn’t know about it

There’s a big misconception between the purpose and the result of a KYC-procedure.
It’s very important to be extremely careful and know the risks of doing KYC. Better avoid it if you can and don’t want to have bad surprises. It’s possible that the KYC-Scammers / Hackers use your stolen / hacked personal information to gain knowledge about your personal address or location / sell it to others and they can plan to rob you at home and steal your crypto. Even Coinbase was caught selling user data (https://cryptolab.one/news/single/anti-coinbase-sentiment-grows-amid-data-selling-revelations).

Here are a few more reasons why doing a KYC puts you on a big risk: Why KYC is extremely dangerous – and useless (https://bitcointalk.org/index.php?topic=5221497.0)



Overly careless handling of personal data increases likelihood of being victim of a $ 5 wrench attack

There are various attacks from which you can lose your cryptocurrencies: scams, phishing sites or hacked wallets. Another avoidable attack is the famous $ 5 wrench attack:

https://www.talkimg.com/images/2023/05/17/hackerb712a1615d2d97ed.png
https://xkcd.com/538/

It can be avoided effectively if the attackers don’t know the personal data and where you live.



Finally, it's up to everyone to care for their own data and who will gain knowledge about your crypto holdings. As a basic rule, it is always advisable to be careful when in doubt. This also applies to all actions on the Internet that pose a possible threat to privacy.
Once information is revealed, we can’t make it unhappen including all (bad) consequences.



Translations:

Languagetranslated byTitle
_______________________________________________________________________________________________________________________
Nigeria (Naija)Mia ChloeWhy E de important to avoid to de tell people about crypto way you get (https://bitcointalk.org/index.php?topic=5473220.0)
Română (Romanian)GazetaBitcoinDe ce este important să nu spuneți nimănui despre cât crypto dețineți (https://bitcointalk.org/index.php?topic=5268521.0)
PakistanCompromise meاپنی کرپٹو ہولڈنگز کے بارے میں سب کو بتانے س& (https://bitcointalk.org/index.php?topic=232519.msg63602640#msg63602640)


Reserving new translations is currently not available.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Upgrade00 on June 11, 2020, 06:48:24 PM
I agree, when it comes to cryptocurrencies we act as our own bank, and we should take extra precautions when divulging information about our crypto investments, especially if you carry your assets around on your mobile phone, this increases the risk of getting robbed.
A thief is less likely to force you to make a transfer from your bank as this would give away their identity, but a Blockchain transaction can be mixed and the trace would be lost.

Once information is revealed, we can’t make it unhappen including all (bad) consequences.
Even if one deletes their account on a website after submitting personal information, that information is not deleted. The best security is to keep your data private.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: BIT-BENDER on June 11, 2020, 07:09:24 PM
When I tell my clicks, buds or fellow students about bitcoin, they start asking how much of bitcoin have I bagged, how much is the fiat equivalents of my bitcoin, what I do is always use an imaginary person to explain to them -for example Mr x transferred x bitcoin to......- I take not easy steps when securing my self, an no one should,

Don't explain to people directly using your wallet as a process of -transaction- don't illustrate with anything private


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Kakmakr on June 11, 2020, 09:33:36 PM
Do people walk around and tell people how much money they have in the Banks? NO ..... Do people walk around telling them how many Gold coins are in her or his home vault? NO..... So...why would you walk around telling people how many bitcoins you have?

How many people registered at a online casino with their Social media account? Did you withdraw bitcoins to your Bitcoin address? Well, if you did... then you are theoretically f@#%ed. (Now the hackers know you and also the people operating the casino and also the government if the site is regulated and licensed.)

Use mixer services before you use any of these third party services and split your main hoard from the addresses that you use at these services.  ;)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: gentlemand on June 11, 2020, 09:42:16 PM
You can say that same about you cash money, whats the different  ??? ???

Not many people have the equivalent of thousands of dollars or more lying around in cash. Many Bitcoin fans will. People get murdered over a few hundred dollars so it's something you want to keep a lid on.

What's more annoying is that as soon as you mention the word Bitcoin people will assume you were there in 2009 and have trillions. More than likely most will have less in it than the person asking has in their savings account, not that they'll be capable of taking that on board.

If it ever does get to the $5 wrench stage you're better off splitting it so there's one readily accessible amount with the rest hidden properly. You can do the same with hardware wallets, have a second password protected wallet with a much lower balance on the initially accessible one.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 20kevin20 on June 11, 2020, 10:14:28 PM
I have an even worse scenario: being tortured (https://www.btcnn.com/tortured-for-bitcoin-south-africa) for Bitcoin. And it's not the only case: The Netherlands (https://beincrypto.com/netherlands-man-tortured-with-drill-for-bitcoin/) had one too, so did other countries as well (but can't find the links right now).

But isn't it quite logical that by publicly shilling BTC people will know that you most likely do have some coins yourself? Like.. I talk about BTC very often and I usually chat with my friends about it too. I've never mentioned whether I do or do not have any BTC though.

The torture/hostage scenario could be avoided by having a Ledger with only $50-200 on the main account and the rest of your money on a temporary password. If someone ever forces you to give them your money, just unlock your ledger and let them take the small amount - they'll never know you have a secret wallet inside your.. brain. :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on June 11, 2020, 10:17:36 PM
You can say that same about you cash money, whats the different  ??? ???
If it ever does get to the $5 wrench stage you're better off splitting it so there's one readily accessible amount with the rest hidden properly. You can do the same with hardware wallets, have a second password protected wallet with a much lower balance on the initially accessible one.
Regarding the 5$ wrench attack d5000 (https://bitcointalk.org/index.php?topic=5254927.msg54602840#msg54602840) linked a good article evaluating how to avoid such an attack: https://cryptosec.info/wrench-attack/

Quote
https://cryptosec.info/wp-content/uploads/2019/07/IzK3NCs-e1564072726103-520x293.jpg

2. Prevent getting unwanted attention

Bitcoin or cryptocurrency stickers in your car, on your laptop, having bitcoin and cryptocurrency related license plates, those things.

As bitcoin and cryptocurrency enthusiasts and investors, Bitcoin and crypto stickers and license plates are cool and all that, but unless you work in the cryptocurrency industry and is quite well-known anyway, It’d be best to prevent flaunting your affiliation with cryptocurrencies especially in public.

Having these public gimmicks is one of the best ways to attract attention if you want to be followed by criminals on your way home.

There are some more basics and also strategies.



You can say that same about you cash money, whats the different  ??? ???
There are a few similarities but I think also very big differences. When People hear someone is owning Bitcoin, they think very often such people are rich, especially when they don't know much about Bitcoin. Many nocoiners still associate Bitcoin holders = rich.
And the most important difference is because Bitcoin is almost everytime digital (besides Casascius Coins etc.). All digital goods give some more opportunities to draw conclusions, like Kakmakr explained here:

How many people registered at a online casino with their Social media account? Did you withdraw bitcoins to your Bitcoin address? Well, if you did... then you are theoretically f@#%ed. (Now the hackers know you and also the people operating the casino and also the government if the site is regulated and licensed.)

Same when you buy coins on an exchange and someone gets access to your name.
There are much more examples.



Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Bitcoin_Arena on June 11, 2020, 10:26:47 PM
So...why would you walk around telling people how many bitcoins you have?
I guess it'some sort of stupid excitement. Some Crypto YouTubers do so mostly when they are trying to shill a coin, an exchange or a service. But what they don't know is that they are usually making themselves a target

Perfect example was Ian Balina (https://ianbalina.com/), back then when he had Millions USD worth of shitcoins. He would take screenshots of how much profits he made not knowing that he was digging a grave for himself. He got hacked (https://www.ccn.com/ian-balina-hacked-for-millions-through-old-email-account/) and things have never been the same for him


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Nellayar on June 11, 2020, 10:37:29 PM
It isn't good idea to avoid telling everyone if you are an influencer like John McAfee. But if you are a normal person (without a name in other industry), it is good to be anonymous.



When I first glanced this forum, the first thing that my mentor told was to hide my identity. I thought before that it was good also to put my real name in username since there is no one that knows me.

I thought that by hiding my name means this is illegal sites and I could be a suspect for a crime. LOL. But when I studied everything about anonymity and security, I understood that I should use a pseudonym whenever I will log in (in all sites).



Just like what OP said, I am really careful in sharing this stuff to my friends. In fact, I graduated already but they don't still know that I am earning money online. My colleagues thought that I was ignorant in tech, specially that in my province blockchain technology term is not yet popular.

Though I am hiding my real identity, there are still people knows my name. And of course, those who are I really trust.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: LTU_btc on June 11, 2020, 10:43:19 PM
When I tell my clicks, buds or fellow students about bitcoin, they start asking how much of bitcoin have I bagged, how much is the fiat equivalents of my bitcoin, what I do is always use an imaginary person to explain to them -for example Mr x transferred x bitcoin to......- I take not easy steps when securing my self, an no one should,

Don't explain to people directly using your wallet as a process of -transaction- don't illustrate with anything private
Yeah, same. Many of my friends, family members know that I have Bitcoin and they often ask how much I have, how much it's worth in fiat. But obviously, I don't it them. I'm not too much concerned about my security, but it's just some common sense. It's same that they don't need to know how much money I have in my bank account.
But I don't agree that's something wrong to show in public that you use Bitcoins. I doubt that having Bitcoin logo on your car or T-shirt can make troubles for you. If you have Bitcoins, it doesn't neccessary means that you're rich. While I think it's more risky to show that you have lot of money in fiat.
And by the way, in my early days on forum, I posted in topics such as "how many BTC you have" many times and I didn't even thought that's something wrong :D.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: gentlemand on June 11, 2020, 10:47:40 PM
I doubt that having Bitcoin logo on your car or T-shirt can make troubles for you. If you have Bitcoins, it doesn't neccessary means that you're rich. While I think it's more risky to show that you have lot of money in fiat.

Hmm. Not sure. One of Bitcoin's prime problems is still the ignorance of people who haven't bothered to look beyond the odd headline. In many a mind 'Bitcoin' equals 'rich' even though most owners don't have a lot of it.

The stories they've heard in the news are about people making outrageous gains. Or drugs.

Realistically a fiat rich person is going to have most of it in assets that can't be liquidated easily whereas the perception is that someone Bitcoin heavy could be cleaned out in a few minutes, though hopefully they have some things in place like multi sig or whatever. That might inform the behaviour of dodgy people.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Rikafip on June 12, 2020, 06:36:11 AM
Hmm. Not sure. One of Bitcoin's prime problems is still the ignorance of people who haven't bothered to look beyond the odd headline. In many a mind 'Bitcoin' equals 'rich' even though most owners don't have a lot of it.
To be honest, my experience is quite the opposite. When they heard that I am into crypto, huge majority of people somehow assume that I bough BTC at the ATH, and they think that I am at the loss now. Might be because I wasn't into crypto back then at the beginning, so my life didn't change dramatically, I didn't start driving lambos or buying villas. I made some money, but not a life changing amount, not even close, and I guess it shows.

I am not hiding from my family and friends that I am into all this, but one thing I avoid is talking people into buying. If they ask, I will say pros and cons and let them decide for themsleves (I even talked few out of it as I knew that they are not kind of people that will keep being cool when BTC goes down) but for sure won't sell them moon stories, as that can ruin relationships.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xxjumperxx on June 12, 2020, 06:54:19 AM
Finally someone says it.

I mean yes, my friends ask me if I hold Bitcoin. But I always brush it off as. "Bitcoin is a great investment and I would tell you about it so you can create an opinion yourself about it".
Questions such as "How many do you have etc.?" I brush aside telling them I wouldnt tell how much money I have on my Bank Account.
It might not be FIAT, but its still considered value.

Just keep it private, no good can come from telling anyone about the Bitcoins you hold.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: DdmrDdmr on June 12, 2020, 06:54:48 AM
It’s rather a paradox really, that we presume that people with BTC could be targeted by ruffians, yet we can also assume that everybody (ok, many people) will have fiat and jewels stores at home and/or the bank. BTC perhaps has this (semi-false) aura of pseudo-anonymity, but that goes just as well for the other personals one may have, that could be stolen and used or sold with anonymity. Perhaps the question resides in the potential that one may have stored in BTC, I don’t really know.

When I made a poll here (modest in results, non-conclusive, and recently closed – not by me) on B&H, on how people found out about Bitcointalk (https://bitcointalk.org/index.php?topic=5219706.20), 32,6% responded through a friend or acquaintance, and (only) 2,9% through a relative. One does not presume that people here necessarily store Bitcoin in significant amounts (as of today) in general terms, but there is a fair share of potential cases where one tells another, and thus the risk surfaces through 1:n propagation of the gossip, never knowing who will eventually find out.

The risks is larger though, if one’s identity and BTC addresses become known to a third party, since the quantities could also be known (even if to a partial extent, depending on how one manages his portfolio distribution amongst  different wallets/addresses).


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: masulum on June 12, 2020, 08:30:27 AM
It seems like the community in my country is different, there are many people who share their balances openly with other people in the group with the aim of getting referrals or for other purposes like give a phishing/malware sites or apps. Although I do not know whether it is real or not they are have that balance, from here I actually think otherwise, that every time someone shares his crypto balance, I will judge that 90% of people like this are just trying to commit fraud and not interested to join. I don't know, maybe I was thinking too negatively on someone  ??? ;D


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Coyster on June 12, 2020, 08:42:48 AM
Telling all of your friends might not be a good idea
I second that, and the situation could be worse for people who do not know how to create strong passwords, anyone who doesn't know how to create strong passwords, read: How to create strong/secure passwords (https://bitcointalk.org/index.php?topic=5132378.0). If you use weak passwords like your name, date of birth or something personal to you, definitely your close friends would have those information about you, and if they think you're rich and get jealous, they can try to attack you if they get access to your device; they could even try to hack your bitcointalk account, if you've also told them about that.

As a university student (like myself) it's even more difficult, sharing a house with other kids, it's also hard to stay personal with lots of friends (knowing you need to write out seed phrases, private keys etc) I'm sure i would have lost a lot of my funds in cryptocurrency if i wasn't on bitcointalk (where you can learn how to safely store your coins, create strong/impenetrable passwords, stay anonymous etc).


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: stadus on June 12, 2020, 09:52:20 AM
The very reason is it's very dangerous, maybe not your relative going to ask your for money or borrow money, but what I'm afraid of is the evil minds who think of hurting you just to get your bitcoin, so I am always secretive about my holding and even what I have now since people can see with the property I acquired, I still don't tell them what really my job and how I acquired it.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: pakhitheboss on June 12, 2020, 10:28:49 AM
I guess they forget cryptocurrency has a currency which means money and no one should reveal or discuss the amount they hold in their banks or in their wallets.

Because, if you do you will be in trouble.

They KYC part is very critical as there are many exchanges where it is mandatory to complete KYC. It is very hard to skip it as most local exchanges will always ask for KYC



Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: fillippone on June 12, 2020, 11:13:21 AM
I think this is a way undervalued concept.
I personally had more than a few people telling me exactely how many satoshi they had in their account and where. Something no one would ever do with their bank account.
This is some weird logic displacement in my mind. A lot of people are still thinking to BTC like they weren't real money.

In this situation I always rely to the king in topics relating Bitcoin Privacy: Jameson Lopp.
His lopp.net (https://www.lopp.net/articles.html) webite is a great place of inspiration when looking for privacy-related resources.

Known Physical Bitcoin Attacks (https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md)

How to Protect Your Bitcoin from $5 Wrench Attacks (https://blog.keys.casa/how-to-protect-your-bitcoin-from-5-wrench-attacks/)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: OcTradism on June 12, 2020, 12:13:39 PM
Some people make lots of status on their Facebook accounts. So attackers do know they are crypto investors and sure they put themselves under future attacks because of their self disclosures. Careful people do not disclose to the others that they are crypto investors that in turn minimize risks of attacks on their privacy, and their crypto funds.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xxjumperxx on June 12, 2020, 01:23:15 PM
Some people make lots of status on their Facebook accounts. So attackers do know they are crypto investors and sure they put themselves under future attacks because of their self disclosures. Careful people do not disclose to the others that they are crypto investors that in turn minimize risks of attacks on their privacy, and their crypto funds.

Now this is crazy, you wouldnt go posting on facebook how much €/$ you have on your bank account?
That is like putting a target on your back...


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Lucius on June 12, 2020, 01:44:43 PM
10 years ago when you would tell someone you have 100 BTC they would probably look at you weirdly and wonder what it is and how much it is worth. Then such a statement would go completely unnoticed, no one would care to steal a few dollars from you. If you had repeated the same thing 5 years ago, someone would surely have been interested because 100 BTC times $200 is already a very nice amount of money. Today, the situation is such that even if you have only 10% of that amount, make it public and literally draw a target on your forehead.

There are already many documented cases where people have been robbed and in some cases even killed because they have publicly confessed to have Bitcoin or any crypto. By behaving in this way, you are not only endangering yourself, but also your family, who can become the target of kidnappers, which has also already happened in at least one case.

I think this is a way undervalued concept.
I personally had more than a few people telling me exactely how many satoshi they had in their account and where. Something no one would ever do with their bank account.
This is some weird logic displacement in my mind. A lot of people are still thinking to BTC like they weren't real money.

Really weird logic, and I think the thing is mostly that people like to brag about something out of the ordinary in the sense that they want to look smart because they invested $xxx, and they turned that into a $xxxx amount in a very short time. Bitcoin is still not perceived as money, because if we turn around and look at where we can spend it, we will not see the BTC logo in too many stores (if there are any at all).


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: hatshepsut93 on June 12, 2020, 01:58:47 PM
I never told anyone about how many coins I have, but still I regret telling my relatives that I was involved with Bitcoin, because now they assume that I'm some sort of millionaire. And words travel far, they swear they didn't tell anyone, but I don't trust them.

People here often encourage others to spread the word about Bitcoin, get their friends on board, basically be an evangelist, but they don't think about how it will make you look in the eyes of others - when the price rises, every earlier hodler is viewed as a richman. So, not only be careful about telling how much crypto you have, also be careful about talking about crypto in general.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: taufik123 on June 12, 2020, 02:23:13 PM
People who already have a lot of followers, an influencer, a famous person and have a big company certainly will not be able to be anonymous about the ownership of crypto and others.

Being anonymous is only done by people who don't have too many followers, not well-known or ordinary people like me.
Being anonymous is certainly a good choice, with the reason that it is safer to be anonymous, rather than having to tell others about ownership of crypto and about bitcoin and blockchain technology.

Trying to hide your real identity is certainly very difficult if some people already know about us in this forum.
I really avoid telling my friends about the world of crypto and about this forum, even some people in my family don't know about my work in the online world. I also avoid sharing about bitcoin and crypto on my personal social media so that no one asks and is curious about what work I do in the online world.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: BITCOIN4X on June 12, 2020, 03:09:51 PM
People who already have a lot of followers, an influencer, a famous person and have a big company certainly will not be able to be anonymous about the ownership of crypto and others.
Sorry, I do not agree with you. Bitcoin is a new financial innovation that allows anyone to hide the identity of ownership of their assets in storage even though they are famous people. Someone here is very likely to buy large amounts of bitcoin only through an ATM or using a master card, then they store it in a secure wallet. Do we know who owns the assets ? I dont think we can, its just that we can track the amount in the storage wallet.

Trying to hide your real identity is certainly very difficult if some people already know about us in this forum.
I never even know how much bitcoin has been bought by most famous users here. Unless they tell us how much of their actual bitcoin storage wallet is and how much is stored.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: AakZaki on June 12, 2020, 03:41:25 PM
As someone who is closed I'm not too concerned about people who argue about bitcoin but that person doesn't understand and never uses bitcoin. Lay people who do not understand about bitcoin will consider bitcoin as a fictitious currency and only an investment that has no value.

Telling all your friends is not a good idea because it will be considered an expert and has a lot of money from bitcoin, and some friends don't understand what bitcoin is. They will continue to ask what the benefits are.

Maintaining privacy in the online world is very important to maintain our identity. better to be someone who is closed in the online world.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: plvbob0070 on June 12, 2020, 04:09:57 PM
I think it's just the same with fiat, you don't just tell or brag the amount of money you have. Things like this, especially money should remain private because sharing it with everyone can attract people even those opportunists. It's more prone to scammers and opportunists sharing private information on social media, so we should really be careful sharing information with others.

There's nothing wrong with sharing your knowledge about crypto and bitcoin, but of course, there's also a limitation because you can't just share every information. Know who to trust and can be trusted before sharing such information. My friends are also into crypto and bitcoin so it's okay for us to talk about crypto, but not to the point we tell each other the amount of bitcoin we have.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Lucius on June 14, 2020, 10:43:04 AM
I think it's just the same with fiat, you don't just tell or brag the amount of money you have.

It is not only about fact that you may share some info about how rich you are (in fiat or crypto), but how much you show it with your lifestyle. For example, if you drive a $100 000 car or have a $10 000 watch on hand, you don't have to say anything - those things speak for themselves. There are people who observe such things, gather information and assess whether they can in any way derive material benefit from it. Physical robbery, blackmail or kidnapping are just some of the most common methods used to achieve their goals.

When it comes to crypto, a completely new vector of attack opens up, which will always follow the line of less resistance and risk. Social engineering that includes phishing is certainly something that thieves will try first, but also the infection of your computer by inserting a USB stick into your mailbox with the note play me. They say curiosity killed the cat, but it is similar with humans - thieves always play on the two strongest cards, greed and curiosity.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Saisher on June 14, 2020, 12:42:55 PM
It's not good to tell people about your Crypto holding it's like exposing you wealth and how much you are making, friends will ask for a loan,bad elements will target you and the government may impose additional taxes for your holding, all they will see are the profits but not the risk,once you are expose you are targeted rich people have banks but since you only have your information you are going to be in trouble.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: famososMuertos on June 14, 2020, 01:49:15 PM
Actually, the big problem is not saying someone, although in a certain way many rightly see it that way, it is a part, but you have to have a little common sense, the same as you have with your assets and liabilities in your offline world.

The real danger or another real danger is lived by those who change to their local currency, not everyone can do hodl and at some point they need their BTC, but they make the mistake of giving their data to receive their deposits, via local transfer, not all countries They use dollars, obviously, that is, you go an exchange like binance you change to dollars and send to your bank account.

In practice you can have your btc and change them to dollars or euros and then take them in various ways to your local currency, but many do not know the process, instead they go to places like LCBT and give more valuable information than a simple KYC. And in their minds they not suspect that this user with 10,000 transactions and 100% confidence, can sell your information, not today or tomorrow, but in the future when you have forgotten that exchange.

So maybe you do not lose bitcoin, but have arrived in your offline world, where perhaps losing a bitcoin has no comparison with what can happen to you in your real life, just for the simple fact of having made a transaction with many errors.

That is the most critical mistake that many have when they do not need to talk to friends or strangers, to be giving away privileged information.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: ShowOff on June 14, 2020, 05:33:17 PM
It's not good to tell people about your Crypto holding it's like exposing you wealth and how much you are making, friends will ask for a loan,bad elements will target you and the government may impose additional taxes for your holding, all they will see are the profits but not the risk,once you are expose you are targeted rich people have banks but since you only have your information you are going to be in trouble.
In certain circumstances a person must also be a little arrogant with his assets with the aim of killing the arrogance of others with arrogance but not for the purpose of showing off. Of course human nature will not be underestimated especially if we have a lot of wealth. In real life you have to throw an ace to show that you are in front of it. But in crypto, you might not need to do it because you will be the target of cyber criminals.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: GDragon on June 14, 2020, 07:05:29 PM
I never told anyone about how many coins I have, but still I regret telling my relatives that I was involved with Bitcoin, because now they assume that I'm some sort of millionaire. And words travel far, they swear they didn't tell anyone, but I don't trust them.

People here often encourage others to spread the word about Bitcoin, get their friends on board, basically be an evangelist, but they don't think about how it will make you look in the eyes of others - when the price rises, every earlier hodler is viewed as a richman. So, not only be careful about telling how much crypto you have, also be careful about talking about crypto in general.

I guess I'm lucky with my family knowing I'm in btc but still doesn't expect much about it. I never tell anyone about my coins too, what I tell my family is that I am into btc and is trying to earn with it. They understand that it doesn't mean I would get it right away.  In ma case, whenever I tell a friend about btc, I always clarify that I am interested about this technology but I am no way a huge earner. I trust my friends so I always tell them about btc but not about my keys or my holdings and so on. I just want them to be interested in it. But yep, will never tell it to anyone I don't trust.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: cryptoperkele on June 14, 2020, 07:23:57 PM
I've been focusing really hard not to link any of my crypto activity to real life id. I have handful of friends i talk with and compare different projects with, also i am helping out one friend who is new to this stuff. None of us usually talk about this with anyone in real life and i am so paranoid i don't even comment any crypto related news on facebook.

Naturally i mess this up from time to time if i get drunk and someone start to talk about cryptos. Drunk me thinks it's a good idea to join in. And paying my beer with wirex card is a hint too. I'll avoid talking how much i have and right now i don't have too much, but i know from the past that can change very much and next bull run people will do the math.

Maybe i'll just say i have lost mine.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: asianguy845 on June 14, 2020, 10:04:10 PM
Just a side note.
If you tell your friends you have a lot of money in some coin, they can find out your wallet (maybe).
Since you know them well, they might be able to guess your password (if you use a wallet like Coinbase and not a hardware wallet).
And since crypto is nonrefundable, you will be screwed  :'(


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: KrisAlex18 on June 15, 2020, 02:32:44 AM
Very well said, in terms of cryptocurrency we should be careful, let us keep the privacy on our selves because there would be many instances like scamming and hacking of accounts in this virtual world so we should always be careful when doing some actions here. We should never tell anyone the amount of money we have in our wallet because once they have known the amount of the money and they find it so big they may become interested in it and do something bad even though you are considering them as your friend.

There would be no person that you should trust except your friends, even your friends can do bad things on you when you talk about money because money is power there are many people who do unpleasant things just to have money.

Do not also give some of your important details to anyone, or to show it in public, that is really dangerous once they get all of your important information they can use it for some bad things. That is why being anonymous is very important in cryptocurrency.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: libert19 on June 15, 2020, 04:56:21 AM
The first point is way too relatable. Wish I could change it.

Regarding kyc, it's kinda necessary, since it's only gateway to fiat-crypto and vice versa, if you avoid these exchanges, there is only p2p available which puts you at even bigger risk imo

Also, I was stupid enough to do kyc for airdrop, which I deeply regret.



Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xxjumperxx on June 15, 2020, 05:03:59 AM
Just a side note.
If you tell your friends you have a lot of money in some coin, they can find out your wallet (maybe).
Since you know them well, they might be able to guess your password (if you use a wallet like Coinbase and not a hardware wallet).
And since crypto is nonrefundable, you will be screwed  :'(

How will they able to find out my wallet? Say as a beginner I do have an wallet at coinbase, they would still have to physically login into my coinbase.
Coinbase also has a security function, to make sure to confirm my login.
So they would have to know my coinbase password, know my email account password to access it.

No friends or family should know your passwords, regardless of crypto or not...


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: fillippone on June 15, 2020, 08:45:19 AM
Not telling everyone about you crypto holding is important.
But what if you fail in that?
It is important to have a plan B, a scheme on how to operate on an occasion where you might be forced to disclose your holding amount.
Bear in mind that this could happen both in a legal or an illegal way.

So it is important to setup a "plausible deniability" scheme.

Just to start the spark of toughts, read this pearl (https://bitcointalk.org/index.php?topic=178336.msg54617989#msg54617989) I just found on the WO thread.
 


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Lucius on June 15, 2020, 11:08:30 AM
So it is important to setup a "plausible deniability" scheme.

Plan B is something necessary in most things we do in life, and when it comes to crypto anyone who relies on just one solution has a great chance of losing their coins at any moment. Plausible deniability is definitely something to look out for, and if we are already in a situation where we are forced to give someone confidential information (seed/private keys), then let’s make sure it’s only a small percentage of what we really have.



Some may have seen this video before, but it shows us in a very clear way that we should always be careful. Sometimes even those people we trust turn against us at some point.

Schloss Bitcoin (2020) - deutscher Kurzfilm - Crime Black Comedy Subtitles in English, French & more (https://www.youtube.com/watch?v=hf97ofTlZhk&feature=youtu.be)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xxjumperxx on June 15, 2020, 11:19:48 AM
Plausible deniability is definitely something to look out for, and if we are already in a situation where we are forced to give someone confidential information (seed/private keys), then let’s make sure it’s only a small percentage of what we really have.


This is exactly my idea.
To have a cold storage that contains most of my Portfolio and have a Plan B Wallet (Hot Wallet) that I use for casual use.
I always use a multiple wallets in between to make sure that there isnt a 1 to 1 connection from my Hot Wallet to my "safe Wallet".

Im still trying to make myself be safer but there arent any bitcoin atms around.
P2P is just too much of a risk for me.



Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Assface16678 on June 15, 2020, 12:22:21 PM
Today while bitcoin is going into rapidly increasing popularity and which is good at the same time because they are now increasing supporting the use of bitcoin at the same time they are giving a lot of contribution to the world of the market price. Some of the people are saying their investment into the world of cryptocurrency because they are proudly supporting the use of it but the main problem is all about the people they are giving that information.  Sometimes even the closest one we have and the trusted one they are the one who has a dark side because of too much attraction on the money.

I don't want to refer to all of the people that they have plans on your money but the main problem is there is a chance that they will do this to you because you have a large number of money and still money is a money.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Maxstl007 on June 15, 2020, 05:53:26 PM
True, you can easily become a target for preying eye or bad people around your surroundings or street, it's not wrong tell people about how good crypto currencies are but don't ever tell them about how much you make or holding, it's 100% dangerous and unsafe


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: asianguy845 on June 15, 2020, 06:20:47 PM
Yes, never tell anyone you know about your crypto holdings (unless it's your wife or something lol)
A Norwegian bitcoin millionaire almost lost his life.
Why? Some person robbed his house and threatened him at the door saying, "Lie down or I'll shoot."
He managed to escape by jumping down from his balcony, luckily without major harm.
However, this could've definitely gone way worse, like with him dying or getting seriously injured.

Another such case was when a bitcoin trader was kidnapped and tortured by several people because of his bitcoin riches.
Article: https://cryptopotato.com/why-you-should-never-tell-anyone-youre-a-bitcoin-millionaire/

Reading this frightened me. I'll not tell anyone about my crypto when I have a lot  ;)
And neither should you.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Subbir on June 18, 2020, 02:00:05 PM
I accept as true with you that it's not right to inform any folks about crypto because there's no shortage of violent people around us this is often not about crypto work it's about other work. Because if we mention crypto it'll bring us danger we will be victims of blackmail repeatedly That's why you would like to stay all information about bitcoin investing confidential Protecting privacy is particularly safe at add crypto.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: KiloFoxtrot on June 19, 2020, 05:16:11 PM
At first glance it doesn’t sound bad to tell other people that you own Bitcoin, but there are some details to keep in mind:

Wow! :o Thank you for providing us a glimpse of what to avoid and what to do in order to avoid such pitfalls, even before they could possibly happen.

I'm actually not aware or maybe I failed to notice that I may be susceptible to any of those circumstances you've mentioned. Granted that I may not be successful yet right now, but maybe I might become luck somehow in the future.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Coin-Keeper on June 19, 2020, 09:52:52 PM
This thread is full of great comments.  My spouse knows I have some coins but has no idea of how many.  I have it setup where my BIP password is located in three parts.  She will need to get all 3 and connect the password characters together in order to discover the 30-50 digits needed to open the wallet.  I do this for security knowing that a stolen/hacked Trezor presents no threat and the 3 locations are miles apart.  She has no interest, only she wants to know that they won't be lost if I die.  I don't have to trust the holders of my password partials because they don't know each other, or what those digits are for.  I am a lucky "old timer" in this game.  KYC was never an issue back in the day.  The SEED sits in my vault.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: pixie85 on June 19, 2020, 10:24:34 PM
I stopped telling people about it not because I was afraid but because they were asking me about scams, deep web, tax evasion and things like that.

The word Bitcoin to an average worker like your typical gardener or plumber is scary and usually a understood as a tool for hackers or some child porn addicts.

People will kill you for money that's true but there's not much difference in driving that tesla without the bitcoin license plate or with it. To a criminal you will still look like you have a bag of cash under the bed.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: jademaxsuy on June 21, 2020, 11:46:26 AM
It is much safer if you don't tell people about your holdings or else many people will send you trap just to steal your money before you know it's gone. As what you have stated it could also link your identity to the address that you use in transactions and other things you do. I do tell people that I have bitcoin and that's it no more information to tell except that you have bitcoin.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: lovesmayfamilis on June 21, 2020, 02:49:21 PM
In several countries, the attitude towards Bitcoin is very doubtful. For example, Russia regularly makes changes to laws on ownership of cryptocurrencies. Accordingly, I believe that talking about the fact that I have bitcoins can lead to many problems.
Even close friends, I think, should not talk about the fact that there is some kind of capital in cryptocurrencies. People are envious and talkative. Sometimes secrets a revealed by close people to scammers quite by accident.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: peterurb on July 01, 2020, 05:04:49 PM
1. People who don't understand crypto will think, that you are just trying to lose your money, or you did a bad thing
2. IRS can force you to sell your crypto - really there is an article https://news.bitcoin.com/irs-tells-couple-with-7-million-in-bitcoin-to-liquidate-crypto-assets-and-pay-off-tax-debt/ (https://news.bitcoin.com/irs-tells-couple-with-7-million-in-bitcoin-to-liquidate-crypto-assets-and-pay-off-tax-debt/)
3. You can be liked with some coins which are from some crypto "robbery", but you bought them legally



Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xZork on July 01, 2020, 06:20:15 PM
In my country there is a saying that "if you have money but don't know how to keep it, you will look like a three year old kid holding a bag of gold going to the market".
Telling others about the amount of cryptocurrency you hold will likely bring you unnecessary danger. Bad guys will try to steal your money, which can even bring danger to you and your family.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: acdc on July 01, 2020, 06:25:49 PM
I think we should tell people about cryptocurrencies and the great things they bring, but it's best not to disclose the amount of cryptocurrencies we hold.
There have been many robberies and even extortion of cryptocurrency owners, we cannot know if it will happen to us or not.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Subbir on July 02, 2020, 08:21:26 AM
When it involves working in crypto most traders keep their identities secret because there are tons of scammers out there. tons went on with the knowledge that they need to be lost their cryptocurrency Therefore, it's better to not disclose the existence of cryptocurrencies we'll be those to suffer the foremost.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: lovesmayfamilis on July 02, 2020, 09:47:41 AM
I also agree that it is not worth talking a lot about the fact that you have some assets in cryptocurrency. Today, the time is very difficult, all analysts predict a big crisis, people lose their jobs, and, accordingly, the number of crimes is growing. The criminals do not sleep, they seek any means of deception. And if someone actively talks about his income in the crypto industry, then this once again provokes scammers to become interested in his personality. Proper storage and silence - these are several ways to maintain a good mood and not worry every second about your capital.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: actmyname on July 02, 2020, 09:54:42 AM
In my country there is a saying that "if you have money but don't know how to keep it, you will look like a three year old kid holding a bag of gold going to the market".
Telling others about the amount of cryptocurrency you hold will likely bring you unnecessary danger. Bad guys will try to steal your money, which can even bring danger to you and your family.
If we draw from simplicity, you wouldn't tell random people that you won the lottery, nor that you hold precious metals or high-value stocks. The same should be applied to any financial instrument, bitcoin or not.

The criminals do not sleep, they seek any means of deception. And if someone actively talks about his income in the crypto industry, then this once again provokes scammers to become interested in his personality.
Considering the esoteric nature of bitcoin, there are a number of quite involved scammers in the industry, and I would even say that the ratio of scammers to regular users must be higher in the space considering the fact that there are no chargebacks on non-centralized blockchains. Users have no scam protection but their own intelligence, and with increasingly advanced accessibility options for new crypto users, the number of potential scams grow quickly.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xZork on July 02, 2020, 06:33:14 PM
In my country there is a saying that "if you have money but don't know how to keep it, you will look like a three year old kid holding a bag of gold going to the market".
Telling others about the amount of cryptocurrency you hold will likely bring you unnecessary danger. Bad guys will try to steal your money, which can even bring danger to you and your family.
If we draw from simplicity, you wouldn't tell random people that you won the lottery, nor that you hold precious metals or high-value stocks. The same should be applied to any financial instrument, bitcoin or not.


I think we should not tell people about the money we have.
Tell people about bitcoin and its greatness, spreading the word about bitcoin and cryptocurrencies to people will help the market grow and we will make money.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Digitradez on July 02, 2020, 10:20:37 PM
Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Rengga Jati on July 02, 2020, 11:53:30 PM
Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.
It is not paranoid, It's a prevention to avoid bad things that may happen to us. You cannot say a harmful statement to your friends or random people that can lead to losing your asset or losing trust from others. Especially if you are in a country that still cannot legalize crypto. Telling much about your crypto assets may trigger people to not trust you again as they may think you did an illegal activity. On the other hand, we don't know that there are people who become intending to steal or hack your crypto assets. Except you are a rich person like Roger ver, Vitalik, Charlie Lee, then you can hire private guards to protect you at any time. But if you are an average person, you can't do it.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Digitradez on July 03, 2020, 12:14:43 AM
Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.
It is not paranoid, It's a prevention to avoid bad things that may happen to us. You cannot say a harmful statement to your friends or random people that can lead to losing your asset or losing trust from others. Especially if you are in a country that still cannot legalize crypto. Telling much about your crypto assets may trigger people to not trust you again as they may think you did an illegal activity. On the other hand, we don't know that there are people who become intending to steal or hack your crypto assets. Except you are a rich person like Roger ver, Vitalik, Charlie Lee, then you can hire private guards to protect you at any time. But if you are an average person, you can't do it.

This is the type of paranoia that caused the patriot act to pass and it is why they are banning encryption. We all have to watch out for those bad terrorists! they will all hurt us. ridiculous.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on July 03, 2020, 01:14:01 AM
Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.
It is not paranoid, It's a prevention to avoid bad things that may happen to us. You cannot say a harmful statement to your friends or random people that can lead to losing your asset or losing trust from others. Especially if you are in a country that still cannot legalize crypto. Telling much about your crypto assets may trigger people to not trust you again as they may think you did an illegal activity. On the other hand, we don't know that there are people who become intending to steal or hack your crypto assets. Except you are a rich person like Roger ver, Vitalik, Charlie Lee, then you can hire private guards to protect you at any time. But if you are an average person, you can't do it.

This is the type of paranoia that caused the patriot act to pass and it is why they are banning encryption. We all have to watch out for those bad terrorists! they will all hurt us. ridiculous.
??? ???

I don't know all details of the "patriot" act, but it's actually the total opposite of privacy protection (what's recommended in my OP) and the result of the patriot act is such shit like identity theft (by KYC) and similar BS endangering users privacy. In Europe, some retards (a minority) are even talking about forcing internet users to use solely their real name on the internet (Forums etc.) 

That, what you call here paranoia is actually the opposite of the patriot act, it's privacy... ^^

In fact, the patriot act encourages crime against individuals by exposing their privacy.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Digitradez on July 03, 2020, 03:51:27 AM
If you wanna be private than stay private, I'm talking about how people are so scared that everyone in the world is going to hurt them. This type of fear with terrorism is how the patriot act got passed which allowed government to do even more sketchy shit.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: samputin on July 03, 2020, 04:29:03 AM
True, you can easily become a target for preying eye or bad people around your surroundings or street, it's not wrong tell people about how good crypto currencies are but don't ever tell them about how much you make or holding, it's 100% dangerous and unsafe
That's the primary reason why you should keep some things in private especially when it involves money (either bitcoin or cash). It's something that doesn't need to be announced to everyone else. It's part of your privacy and being safe. Also, it's one act of being humble; not bragging about how much you have or gain whether big or small. Just talk about it when someone asks you about it but of course, don't go much into details.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 20kevin20 on July 03, 2020, 05:38:58 AM
In Europe, some retards (a minority) are even talking about forcing internet users to use solely their real name on the internet (Forums etc.)  
What?! Is this official or just a thing you hear around? I'd be interested to read more.

In fact, the patriot act encourages crime against individuals by exposing their privacy.
All that under the name of "fighting terrorism". Every time. It honestly just feels like they have been lately only using the names of "racism", "terrorism", "drugs" etc to push a privacy-shrinking agenda. Without these names, we wouldn't be the only worried ones.

Same goes for the Russian school face recognition system named "Orwell" (https://www.dailymail.co.uk/sciencetech/article-8433065/Russia-use-facial-recognition-named-Orwell-monitor-children-43-000-schools.html). I mean, the purpose of it is literally in its name. Most people go for the "it's fine as long as it's used for our good" opinion but they never question if they are ever really used for us and not against us..

And then comes the "yeah but that's russia, man" argument. Yea, sure.. (https://baltimore.cbslocal.com/2020/05/01/baltimore-police-launch-surveillance-plane-pilot-program/)

Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.
I doubt Charlie Lee, Rorger and any other big name in the crypto industry live their life completely normally. If I was a big name in this domain, I'd be paranoid as hell but it probably wouldn't be too evident.

Even larger company owners are usually paranoid - it's their (and their families') life at stake. That's why you used to see bigger names carrying around Blackberries and guns years ago. Some big names out there probably even wear bulletproof vests under their clothing when going in public.

If Lee was to be taken hostage for his crypto holdings, it would've hit the news and a massive investigation would've taken place. The same thing happening to a not so well known guy would probably only have a small article over the web talking about it.

As a criminal, it's quite stupid to go for big targets. We're more vulnerable than they are.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: xxjumperxx on July 03, 2020, 05:46:30 AM
In Europe, some retards (a minority) are even talking about forcing internet users to use solely their real name on the internet (Forums etc.)  
What?! Is this official or just a thing you hear around? I'd be interested to read more.

Its been talked about alot!
The german Party CDU, Wolfgang Schäuble (CDU) is all for a Full Name requirement on the internet...
Yeah why dont we all just put a target on our back...

German Source: https://www.tagesschau.de/inland/schaeuble-klarnamenpflicht-soziale-netzwerke-101.html


Yes the article is a bit older, but I dont think its off the table yet... We will hear more about this I fear.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Coyster on July 03, 2020, 09:27:40 AM
Look at all the famous crypto whales: Roger ver, Vitalik, Winklevoss twins, Charlie Lee, etc. Do you see anything happening to any of these guys? Nope. stop being so paranoid.
You see nothing happening to people like them because they are actually more paranoid than a regular Joe (cause they have more to lose) and not because they just live normally without any privacy. It's the same scenario for very wealthy people, you must protect yourself all the time or else face the consequences. I'm very sure the money guys like Vitalik, Charles Lee etc spend on protecting themselves from scammers will be worth more than a lot of people's crypto holdings, isn't that paranoia.
If you wanna be private than stay private, I'm talking about how people are so scared that everyone in the world is going to hurt them.
Everyone in the world may not be able to hurt you, but there are quite a lot of people that'll do that if they get the opportunity, that's why there are scammers, thieves, kidnappers, looters, bandits etc, you cannot feel less concerned about what you own in our society at this time and that's what the op is about.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Pmalek on July 03, 2020, 09:49:58 AM
It's not paranoia being protective of your belongings. And it is not paranoia being secretive about your crypto possessions. Do you tell people at the bar how many gold necklaces and earrings you have at your home or how much money you have saved up in your bank? You just don't do that. It's nobodies business what I have.

Very few close friendly and my family know that I am into crypto. Those are the people I share my life with. The others don't need to know. Why would they? I am not the sort that will turn around to see if someone is following me but I also don't discuss my possessions in the public to brag and act tough.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on July 03, 2020, 11:08:25 PM
In Europe, some retards (a minority) are even talking about forcing internet users to use solely their real name on the internet (Forums etc.)  
What?! Is this official or just a thing you hear around? I'd be interested to read more.
Yes, sounds like a joke but unfortunately it's true, xxjumperxx gave you already a link. Here's another article: https://www.handelsblatt.com/politik/deutschland/hass-im-internet-schaeuble-fordert-klarnamenpflicht-im-netz/25424450.html

Quote
Schäuble calls for a real name requirement on the Internet

Berlin. President of the Bundestag Wolfgang Schäuble (CDU) demands that users are only allowed to use the social platforms by using their real name. "I'm in favor of a real name requirement in the social networks and support all suggestions brought up by the Federal Minister of Justice to enforce rules and transparency in the digital world too," said Schäuble to the newspaper "Bild am Sonntag".

But the other party involved in the governemt (SPD) is against it, even large parts of his own party (CDU) are against it and that means much because his party is always trying to undermine privacy. ^^
The opposition is against it as well.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Vod on July 03, 2020, 11:46:03 PM
Linking your identity on the Internet to your real identity can be very dangerous

Agreed - it's a temporal mistake.  You make it innocently in the past, then years/decades later it can come back to haunt you.  For law enforcement, that's what makes the blockchain so attractive.  A mistake you made years ago (such as not using a mixer) can never be taken back - never be undone.  Another example will be quantum computing.  We will use quantum encryption to counter, but that document with those private records, the one you encrypted with old fashioned (current) encryption, is already untouchable on hundreds of hackers computers...

In crypto, you should adopt a philosophy of "only trust proof".  Ignore any claims that cannot be verified.

IMO, the best solution is:
- create a new identity for crypto activity
- build reputation based on that activity
- trust no one
- "stake" existing reputation if you want


(If you agree with this, and are an experienced HTML/CSS designer, please contact me ASAP)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on July 04, 2020, 12:29:14 AM
IMO, the best solution is:
- create a new identity for crypto activity
- build reputation based on that activity
- trust no one
- "stake" existing reputation if you want
That's a very important argument when people start saying "an anonymous internet does not work because of scammers". This forum is a very good example that it can work very well. People are completely anonymous here (or pseudonymous since a fix username is set). Trust feedbacks, posting history and earned Merit are good metrics to evaluate how trustworthy an account is. (And also a reason to discourage account sales if Quickseller is reading here ^^)

It just requires a little bit common sense to avoid falling for scammers and when in doubt using escrow for big deals.



(If you agree with this, and are an experienced HTML/CSS designer, please contact me ASAP)
I agree but unfortunately, I'm not an experienced HTML/CSS designer, not even an inexperienced one...


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: virasog on July 04, 2020, 04:43:57 AM
True, you can easily become a target for preying eye or bad people around your surroundings or street, it's not wrong tell people about how good crypto currencies are but don't ever tell them about how much you make or holding, it's 100% dangerous and unsafe
That's the primary reason why you should keep some things in private especially when it involves money (either bitcoin or cash). It's something that doesn't need to be announced to everyone else. It's part of your privacy and being safe. Also, it's one act of being humble; not bragging about how much you have or gain whether big or small. Just talk about it when someone asks you about it but of course, don't go much into details.

I never tell anyone how much money i own or how much bitcoin i posses even if someone ask them. These are my personal belongings and i have the right not to tell anyone about it. However, there should be someone or very few people whom you can tell everything like your parents, your siblings or maybe your very close friends who have no intention to harm you or think bad of you.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: zasad@ on July 08, 2020, 10:58:59 AM
Thank you for the article. Very good recommendations are gathered in one place and everything is written briefly and clearly.
Translation into Russian:
https://bitcointalk.org/index.php?topic=5260797


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: JayJuanGee on February 07, 2021, 04:34:53 PM
At first glance it doesn’t sound bad to tell other people that you own Bitcoin, but there are some details to keep in mind:


Telling all of your friends might not be a good idea

I'm even nervous about telling my wife. Since there is dilemma. Eventually the prefix "ex" can be added to wife  ...  but then again, anything can happen, so many people are passing away unexpectedly...  I don't want to have that happen and my Bitcoins to disappear with me. Looking for the middle ground, but didn't find yet, sighing.

(NOTE: Yes, I realize that I am reviving an "old" topic, but the topic does still seem relevant to BTC HODLers - and likely is not easily resolved through a lot of different opinions on the matter and even changing circumstances that individual BTC HODLers might experience - including changed perceptions of the value and/or importance of their BTC stash due to changes in the BTC price since the last post in this thread - we are around 4x or more increased BTC prices since the middle of 2020, no?)

I have some agreement with you in that, you do not really want to create incentives with anyone whether it be a wife or otherwise that you are worth more dead than alive, and it is a bit sad to be in a close (intimate) relationship with another person in which you cannot feel sufficiently comfortable that she might want to kill you in order to be able to live in a way that she perceives to be better.

Personalities are going to differ - that's for sure, and there are some people who are completely trustworthy because they have in-built limitations, and other people might either NOT have such limitations or they might feel that some circumstances justify their behaviors to go beyond certain boundaries that others would not so easily cross.

So, yes there could be some financial vehicles that are available that do not reveal all of the details of what the wife would get if you were dead.. but still allow a way to pass the coins upon such death, were it to occur (hopefully by means that are not attributable to the conduct of the wife or any of her potential agents).

This thread is full of great comments.  My spouse knows I have some coins but has no idea of how many.  I have it setup where my BIP password is located in three parts.  She will need to get all 3 and connect the password characters together in order to discover the 30-50 digits needed to open the wallet.  I do this for security knowing that a stolen/hacked Trezor presents no threat and the 3 locations are miles apart.  She has no interest, only she wants to know that they won't be lost if I die.  I don't have to trust the holders of my password partials because they don't know each other, or what those digits are for.  I am a lucky "old timer" in this game.  KYC was never an issue back in the day.  The SEED sits in my vault.

Some of this obscure description of your security is interesting, and sure I suppose there could be ways to accomplish what you are describing... including that some persons might be holding something that they realize to be important (so they will safeguard it), but they are not sure about such significance until such time that you were to pass and purportedly there would come available instructions in order that at least one person is going to know what the fuck is going on in order that the value is not lost forever because of security that might be too great... Hopefully, that is the case with you.

If you wanna be private than stay private, I'm talking about how people are so scared that everyone in the world is going to hurt them. This type of fear with terrorism is how the patriot act got passed which allowed government to do even more sketchy shit.

You are full of shit, Digitradez because you take your stupid-ass logic to extremes to make a point about something that was not even happening through the posts here in this thread.  

Merely because members are talking about various ways to attempt to take precautions does not signify that they are either "overdoing it" or in a kind of "irrational panic state."

In other words, you are overly generalizing and thereby making disingenuine and nonsense points about folks supposedly being too scared or precautious because they are sharing ideas on a topic, you disingenuous dweeb.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: AWMM24 on February 09, 2021, 04:32:47 AM
At first glance it doesn’t sound bad to tell other people that you own Bitcoin, but there are some details to keep in mind:


Telling all of your friends might not be a good idea

Even if they are your friends you should be very careful if you tell them about your crypto holdings.

As always, there are also those who quickly become jealous, especially if they think that you are rich (but you aren’t) and start begging that you could give them some of it. This can lead to distrust and a previously good relationship can be permanently damaged.

Or in opposite, we all know some of them can’t keep a secret and tell it others and they are telling it others again. Then, it’s possible that people get to know about it, who are jealous / have a bad relationship to you / or are just criminals and plan a robbery to get your crypto.

After all, the more people in total know about your holdings, the more likely it gets bad people find out about it.
Yes telling them that i hold crypto or specific amount is not good for you as you mentioned how.
But i think we should aware them to invest there. We should tell them about profit they can get.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: AWMM24 on February 09, 2021, 04:40:31 AM
Do people walk around and tell people how much money they have in the Banks? NO ..... Do people walk around telling them how many Gold coins are in her or his home vault? NO..... So...why would you walk around telling people how many bitcoins you have?
I think he is talking about your friends. Or any relatives asks you about what do you do for living. Then you have to tell them something to satisfy them. Then if you are doing job you tell them about your salary. And about money in the bank, i think no one tells about how much they have it. Same for gold.
But then why do tells about crypto. Because it's new for them. They are excited or getting profit.thats why they tell them about crypto,basically source of income.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Renampun on February 10, 2021, 05:03:53 PM
Do people walk around and tell people how much money they have in the Banks? NO ..... Do people walk around telling them how many Gold coins are in her or his home vault? NO..... So...why would you walk around telling people how many bitcoins you have?
I think he is talking about your friends. Or any relatives asks you about what do you do for living. Then you have to tell them something to satisfy them. Then if you are doing job you tell them about your salary. And about money in the bank, i think no one tells about how much they have it. Same for gold.
But then why do tells about crypto. Because it's new for them. They are excited or getting profit.thats why they tell them about crypto,basically source of income.
sometimes it is not wrong to tell our crypto holdings to friends or family...
my family, especially my parents, really care about their children even though we all are married. Often my mother asks about our current source of income so she can find out if her children have any problems. I often say 'Mama don't worry, I can still make money from the internet', but I didn't tell her it came from crypto because she certainly wouldn't understand.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on October 03, 2022, 08:31:03 PM
I'm bumping my topic today, because I believe it will continue to be essential to follow these simple rules. Even when crypto becomes much more widespread, it's of great importance to follow the advice stated in my OP.
Incidents, like Ledger's hack and the aftermath draw a very clear picture how dangerous leaked personal data can get for you.
By keeping you private data for yourself, you'll be able to avoid many problems: 

Finally, it's up to everyone to care for their own data and who will gain knowledge about your crypto holdings. As a basic rule, it is always advisable to be careful when in doubt. This also applies to all actions on the Internet that pose a possible threat to privacy.
Once information is revealed, we can’t make it unhappen including all (bad) consequences.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Bholutefe on October 05, 2022, 02:45:08 PM
One of the things that helps with securement of our wallet is keeping secret to oneself, it is a very good thing to be secretive in life especially when it comes to dealing with money or any valuable asset. Trust nobody when it comes to keeping or holding your crypto in your wallet as it is very risky to divulge confidential informations like that. You do not know other people’s intentions towards you financial values. A secret should be kept secret and not the other way round, when you lost your funds in your wallet to the hands of the scammers, you are accountable to your losses and you will hold no one responsible for that. That’s why it is very important to know how and when to handle your wallet in front of third parties or on other people’s phone as this could lead to hacking of your wallet. You also need to be cautious of keeping your phones or laptop lock securely so that no one can gain access to it easily without your Consent.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Belinda1732 on October 08, 2022, 05:17:15 PM
This is a very good question, telling people about your crypto is very risky, imagine showing somebody your crypto that worth thousands of dollars, after seeing it, all he would be thinking about is how to snatch it away from you.

So when my friends ask me about my crypto I only told them that crypto is very good to venture into.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Coyster on October 08, 2022, 05:26:18 PM
You also need to be cautious of keeping your phones or laptop lock securely so that no one can gain access to it easily without your Consent.
A better advice will prolly be that users shouldn't keep their crypto funds in their online wallet/phone that they use for their day to day activities, such as browsing, surfing the internet, downloading, and other general stuffs, that is a no-no, even if you don't tell people about your crypto holdings, if you are hodling crypto in that way you can easily be hacked by scammers who spread malware or any unsuspecting phishing method, your funds should safely be stored offline, and away from any sort of internet connection.
This is a very good question, telling people about your crypto is very risky, imagine showing somebody your crypto that worth thousands of dollars, after seeing it, all he would be thinking about is how to snatch it away from you.
Would anyone show people that they have thousands or millions of dollars in their bank accounts, since they won't with traditional currencies, then they shouldn't with cryptocurrencies too.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Franctoshi on October 08, 2022, 05:35:40 PM
This is very important that we start avoiding telling people about our crypto holdings (our net worth in crypto), Because this pose a kind  risk to you getting robbed or kidnapped by your enemies when you're living in an unsecured areas. One recent senario in my area ,Is that a guy was robbed in the night and after the robbery the robbers kidnapped him and they took him to an unknown location and there they took his phone and transferred all money in the guys wallet before he was released, who knows if this guys might be people that knows about his Bitcoin and crypto holdings.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: GazetaBitcoin on May 14, 2023, 02:05:37 PM
Dear 1miau, in case you are not aware, imgur will stop supporting images uploaded on our forum. There is a very short time frame until these images can be saved from imgur: the change will apply on May 15th (https://bitcointalk.org/index.php?topic=5452415.msg62230551#msg62230551). So it's not just the fact that the pictures do not show on the forum anymore; imgur will also delete them.

As a consequence, after a tremendous effort, I managed to save all the images from my topics and re-upload them. Now all my topics contain visible images.

Among my topics there are also all the translations of your topics. Since I don't think you wish the save all your images from your topics one by one, then re-upload them then change all their links from inside your topics, you can simply take their URLs from my translations. I hope this helps.

The topics I translated for you and which contain images are the following ones:

[Guide] How to create your customized Bitcoin-Address (vanitygen) – step by step (https://bitcointalk.org/index.php?topic=5096373)
How to add a Bitcoin address to Electrum / difference sweep and import priv. key (https://bitcointalk.org/index.php?topic=5096376)
Why it’s important to avoid telling everyone about your crypto holdings (https://bitcointalk.org/index.php?topic=5254941)
Historical Coinmarketcap: ranking of all cryptos at any time from the past (https://bitcointalk.org/index.php?topic=5140111)
MLM – a dangerous marketing strategy (https://bitcointalk.org/index.php?topic=5116935.0)
Make sure to avoid wasting BTC for too high fees – step by step guide (Electrum) (https://bitcointalk.org/index.php?topic=5182906)
Why people should be using SegWit addresses (https://bitcointalk.org/index.php?topic=5355829)
List of interesting Bitcoin statistics (https://bitcointalk.org/index.php?topic=5404074)

Now I'll try to fix as many images as I can from the other posts I made. But, at least, the images from the topics are fixed...


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on May 14, 2023, 10:54:03 PM
Hello, dear GazetaBitcoin  :)

As a consequence, after a tremendous effort, I managed to save all the images from my topics and re-upload them. Now all my topics contain visible images.

Among my topics there are also all the translations of your topics. Since I don't think you wish the save all your images from your topics one by one, then re-upload them then change all their links from inside your topics, you can simply take their URLs from my translations. I hope this helps.
Wow, that's a very nice support, that you are saving images from my topics and you are re-uploading them.
Of course it helps a lot, dear BAE.  :)
I really appreciate it because I've renewed some pictures in my latest replies (just from April and Mai 2023) and it's really so much work to do, especially for picture-heavy topics.
Let me give you some Merit for your effort.

But no hurry, I will integrate your re-uploaded pictures when I've more time probably next weekend or later. 

Have a nice day, dear GazetaBitcoin and many thanks for helping me out.  :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: GazetaBitcoin on May 15, 2023, 09:03:24 AM
Wow, that's a very nice support, that you are saving images from my topics and you are re-uploading them.
Of course it helps a lot, dear BAE.  :)

Glad to hear :)

Let me give you some Merit for your effort.

Thank you!

Have a nice day, dear GazetaBitcoin and many thanks for helping me out.  :)

You are always welcome :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on May 16, 2023, 11:40:56 PM
Wow, that's a very nice support, that you are saving images from my topics and you are re-uploading them.
Of course it helps a lot, dear BAE.  :)

Glad to hear :)
I've so many pictures in my topics, so it's a really nice help.
Of course, it will take me some time to change all of it.
And when I'm at it, maybe I'll find some time to add all translations for each topic, too.  ;)

Have a nice day, dear GazetaBitcoin and many thanks for helping me out.  :)

You are always welcome :)
Well, it's my topic here, I've created it a while ago, dear GazetaBitcoin.  :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Mia Chloe on November 06, 2023, 03:20:57 AM
1miau I would like to make a translation of this topic in pigin in my local board therefore I wish to reserve a slot


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: knowngunman on November 06, 2023, 08:36:19 AM
Even if they are your friends you should be very careful if you tell them about your crypto holdings.

As always, there are also those who quickly become jealous, especially if they think that you are rich (but you aren’t) and start begging that you could give them some of it. This can lead to distrust and a previously good relationship can be permanently damaged.

One of the main concerns is that sharing information about your bitcoin could make you a target for scammers. They may even try to physically steal your Bitcoin by targeting your home or other property. It's important to be aware of these risks and take steps to protect yourself and your cryptocurrency at all costs.

May I also have permission to translate this to our local language (pidgin) in Nigerian local board? It will be of help to us.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: AYOBA on November 06, 2023, 02:27:34 PM
Just a side note.
If you tell your friends you have a lot of money in some coin, they can find out your wallet (maybe).
Since you know them well, they might be able to guess your password (if you use a wallet like Coinbase and not a hardware wallet).
And since crypto is nonrefundable, you will be screwed  :'(
Telling a friend that I have many coins in my wallet does not imply that they can gain access to my wallet without my permission, and even those wallets you mentioned have their own security, but one thing to keep in mind is that if you don't know much about it.

that's where some people have problems with their wallet. Some people make their passwords visible to their buddies, and because you are together, they can copy or snap your password while you are not around.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: BABY SHOES on November 06, 2023, 02:36:45 PM
Even if they are your friends you should be very careful if you tell them about your crypto holdings.

As always, there are also those who quickly become jealous, especially if they think that you are rich (but you aren’t) and start begging that you could give them some of it. This can lead to distrust and a previously good relationship can be permanently damaged.
One of the main concerns is that sharing information about your bitcoin could make you a target for scammers. They may even try to physically steal your Bitcoin by targeting your home or other property. It's important to be aware of these risks and take steps to protect yourself and your cryptocurrency at all costs.
It is carelessness if someone who holds bitcoin but shows off to others on the pretext that he can successfully store bitcoin in his wallet, IMO it is a stupid act because it is not permissible for anyone to disclose this personal bitcoin ownership should remain private until any time and other people should not know how much bitcoin we have.
If a friend knows you have assets then it can be a grudge and the intention of theft at their house arises, this may happen a little but if the person is determined anything will be done for the sake of wanting to have your bitcoin.

Don't share bitcoin screenshots, talk about bitcoins you have, let alone tell where to store your assets, it's dangerous.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on November 06, 2023, 07:53:36 PM
1miau I would like to make a translation of this topic in pigin in my local board therefore I wish to reserve a slot
Hello  :)

Local translations are always a good thing and your request is officially approved.
I've added your request in my list:

Languagetranslated byTitle
_______________________________________________________________________________________________________________________
Nigeria (Naija)Mia Chloe (reserved)reserved (https://bitcointalk.org/index.php?topic=5254941.msg63111809#msg63111809)

You can link your translation here, when you are ready.  :)



May I also have permission to translate this to our local language (pidgin) in Nigerian local board? It will be of help to us.
Mia Chloe already submitted a request a bit earlier (https://bitcointalk.org/index.php?topic=5254941.msg63111809#msg63111809), so Nigerian local board is already reserved.
I'm sure, you'll find another interesting topic from me or from another established member to provide a translation.  :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Mpamaegbu on November 07, 2023, 06:34:46 AM
~snipped~
Telling a friend that I have many coins in my wallet does not imply that they can gain access to my wallet without my permission...
Yes, it's highly unlikely that they will gain access to your wallet but knowing you've Bitcoin (or any other cryptos worth their salt) could trigger a sinister motive against you and this is what many people tend to avoid by not announcing what they've. Why release a piece of information that will put you in danger in the first place, an information that will constantly make you look over your shoulders? It's like announcing to people you've certain appreciable amount of fiat in your bank account; people will overlook it if it doesn't show you've much but not the same way when you're worth millions in fiat. It's the same thing with hodling Bitcoin and announcing it. Everything shouldn't be for the public to digest.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Learn Bitcoin on November 07, 2023, 08:46:14 AM
Telling a friend that I have many coins in my wallet does not imply that they can gain access to my wallet without my permission...

This is a fact. That does not mean you are safe. I believe you read the OP where 1miau pointed out a couple of possible things that can happen to anyone and why you shouldn't tell everyone that you have Bitcoin and the amount. I feel like I have seen similar threads somewhere in this forum. Possibly, it was influenced by 1miau.

Let's say someone kidnaps your loved ones and asks for Bitcoin, and then they will release your loved ones. What would you do? They won't use bank transfers or centralized services where you can know who they are. But how would you track someone if they can rob your Bitcoin?


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: ultrloa on November 07, 2023, 09:00:43 AM
~snipped~
Telling a friend that I have many coins in my wallet does not imply that they can gain access to my wallet without my permission...
Yes, it's highly unlikely that they will gain access to your wallet but knowing you've Bitcoin (or any other cryptos worth their salt) could trigger a sinister motive against you and this is what many people tend to avoid by not announcing what they've. Why release a piece of information that will put you in danger in the first place, an information that will constantly make you look over your shoulders? It's like announcing to people you've certain appreciable amount of fiat in your bank account; people will overlook it if it doesn't show you've much but not the same way when you're worth millions in fiat. It's the same thing with hodling Bitcoin and announcing it. Everything shouldn't be for the public to digest.

If you didn't show the volume and just tell that you have bitcoin then you would provably fine with that. But if you show how large your holdings then it might trigger something that we don't like especially money is root of evil and the person you told that you have this amount might do some actions that we don't want to experience. So we should better stay low key all the time and keep silent regarding on the balance we have and what we do using our crypto so that we would not rise up some curiosity of people then we will not put ourselves in huge risk.

There's no need to update someone about our current status since in situation where majority experiencing a financial struggle for sure some can do crime just to solve their financial struggles in short period of time.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Compromise me on November 07, 2023, 09:53:22 AM
Snip
Hello @1miau

I reserved this slot for translation

I take a permission to translate this topic in my local thread Pakistan (Urdu language).


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Dunamisx on November 07, 2023, 01:28:58 PM
It's something good for privacy reasons, why should I have money and be coming out to declare my worth to the public, is doing that is to intimidate others not having or to show my worth when it's like a peanut in the eyes of other people richer than me, let's consider the security aspect of it as well, if we are making such declaration openly, it means we are inviting any forms of trouble to come towards us by informing them what we are upto, if we are privacy minded, we cannot do all these things by exposing ourselves.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Mia Chloe on December 23, 2023, 09:32:11 PM
Hi 1miau my translation is ready.
Here is the link ; Why E de important to avoid to de tell people about crypto way you get (https://bitcointalk.org/index.php?topic=5473220.msg63119295#msg63119295).
Was really an eye opener and interesting topic. I am very sure my local board members learnt a lot from it.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on December 23, 2023, 10:01:10 PM
Hi 1miau my translation is ready.
Here is the link ; Why E de important to avoid to de tell people about crypto way you get (https://bitcointalk.org/index.php?topic=5473220.msg63119295#msg63119295).
Well done, dear Mia Chloe.  :)
Translation is approved and now added to my OP as well:

Languagetranslated byTitle
_______________________________________________________________________________________________________________________
Nigeria (Naija)Mia ChloeWhy E de important to avoid to de tell people about crypto way you get (https://bitcointalk.org/index.php?topic=5473220.0)


Was really an eye opener and interesting topic. I am very sure my local board members learnt a lot from it.
For sure, it's very important to know about it, especially for newbies but also for experienced people.
Everyone of us can get a victim of the famous 5$ wrench attack:

https://www.talkimg.com/images/2023/05/17/hackerb712a1615d2d97ed.png
https://xkcd.com/538/

Reducing risks of getting attacked via 5$ wrench attack is definitely a good topic to create awareness about.
And that's only one dangerous attack from many more listed in my OP.
At least your local community will (hopefully) be aware about it now.  :)
Well done.  :)


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Samlucky O on December 24, 2023, 01:18:44 AM
Yes it is very very important for us to always stay away from things that will implicate us.  Like all you have explained in Detailed above, but the major problem people have is:
1) ignorant or not being security conceous.
2) always relautant and thinks that what you feel about people is how people feel about you.
3) pride and lack of self orientation on how to handle security or private matters outside.
4) teaching or passing information to the wrong people, in the mindset of helping them.  Not knowing that the heart of men is deceitful.

Humans always have that nature of hatred. when they see you are progressing more than them in life, they think they deserve what you have or should be in between position than you. I remember my friend that usually comes around when I haven't join this bitcoin community, he was very close and we always interact but ever since my other friend told him I have started seeing small money from signature campaign. Just because I couldn't tell him how much I make per week he concluded that am not a good friend and complain to some of my friends that am now a rich man. I have money now I Don want to help him. That he heard am recieving bitcoin,  like I get 1 bitcoin every week. Because he is not awear of how bitcoin works he thinks anybody who owns a bitcoin is rich. Not knowing that bitcoin can be divided into fractions according to amount needed.

So people always have that mindset that 1 bitcoin is $40k + and when they hear you have bitcoin, all there mind you are super rich .so we should be careful with friends. They turn to your energy the moment they know you are aiming higher than them.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Mpamaegbu on December 24, 2023, 04:28:06 AM
4) teaching or passing information to the wrong people, in the mindset of helping them. Not knowing that the heart of men is deceitful.
William Shakespeare illustrated that attitude is one of his famed plays – Macbeth– where he said there was no art of finding the mind's construction on the face. It was the same Macbeth whom King Duncan trusted so much that assassinated him while playing host to the king. Humans (I use it loosely here because I know there are a few good men) can't be fully trusted.

Quote
Just because I couldn't tell him how much I make per week he concluded that am not a good friend and complain to some of my friends that am now a rich man. I have money now I Don want to help him.
It's this entitlement mentality that's destroying a lot of youths who believe that someone somewhere owns them help. They think because someone earns more than them or is rich by their estimation they should become parasitic to. If it were that easy, shouldn't they too be making their own money and helping others too? Until people realize that the streets are tough and that no one owns anyone anything, they will awaken from their slumbers.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Samlucky O on December 24, 2023, 05:19:41 AM
It's this entitlement mentality that's destroying a lot of youths who believe that someone somewhere owns them help. They think because someone earns more than them or is rich by their estimation they should become parasitic to. If it were that easy, shouldn't they too be making their own money and helping others too? Until people realize that the streets are tough and that no one owns anyone anything, they will awaken from their slumbers.
The funny part is that even if u introduce them to what you are doing, instead of them to focus and do what you are doing they will come with the mindset of competiting with you. instead of training them self on how to grow in wisdom and understanding of how the forum works. They will start asking you how to get merit and grow in rank and even asking you to give them merit or asking you on how they can be like you.  Instead of thinking on how to make quality post and grow, they will be monitoring How you get merit or where you make post that receive merits.

When ever you are being introduced to a platform and you come with the mindset of competition, you will never grow because your comment will always be complain or commenting out of point. Each person has his grace on life and you can never be someone's else just try to be you. Because your real you might even grow more than who introduced you. Everybody must not be the same.

For example many people that entered this forum at the same year, some are legendary while some are hero members and some are senior members while some are still full members  and some gave up to another thing because they think they are not fit for the job.  You can only grow the moment you chose to make use of your time very well And decide to focus otherwise you'll be jumping from one thing to the other.  That's why it's good never to give up easily in what you do because consistency in the wright track is the key factor of success.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Mpamaegbu on December 24, 2023, 05:39:20 PM
Each person has his grace on life and you can never be someone's else just try to be you. Because your real you might even grow more than who introduced you. Everybody must not be the same.
Exactly! People should realize that they've different 'graces' and on no account should anyone struggle to be like someone else. Long time ago, when Wole Soyinka (WS) was starting out to be famous for his plays someone addressed him as the William Shakespeare (WS) of Africa. He didn't find that funny and had to instantly correct the person. He believed both WSs weren't the same and should be treated differently even though both were playwrights and poets.

Quote
You can only grow the moment you chose to make use of your time very well And decide to focus otherwise you'll be jumping from one thing to the other.  That's why it's good never to give up easily in what you do because consistency in the wright track is the key factor of success.
You wrote like an elder there. Apt! Quitters won't ever be winners.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: Wakate on December 24, 2023, 06:40:43 PM
Mere looking at it from angle, it does not make sense for us to be telling people about our crypto holdings especially when we are holding huge cryptocurrency in our portfolio. Safety is important as a cryptocurrency holder the same way the market is decentralized. Telling people our cryptocurrency holdings could prompt them to be looking at how they can scam us or hack our account if they don't have the login to detail or how to get into our account. It is important for us to stay anonymous and don't make unnecessary conversations that would tell people how much we are holding even though the amount is small.


Title: Re: Why it’s important to avoid telling everyone about your crypto holdings
Post by: 1miau on April 06, 2024, 04:06:15 PM
I take a permission to translate this topic in my local thread Pakistan (Urdu language).
Your translation is checked and approved.
I've added it to my list as well:

Languagetranslated byTitle
_______________________________________________________________________________________________________________________
PakistanCompromise meاپنی کرپٹو ہولڈنگز کے بارے میں سب کو بتانے س& (https://bitcointalk.org/index.php?topic=232519.msg63602640#msg63602640)


Many thanks for translating this important topic for our fellow members from Pakistan!