Going public saying you own Bitcoin is not safe anymore

[mk4]

It hasn't been safe since forever, as while Bitcoin hasn't been mas adopted, it's pretty much a household name for a while now.

Not to mention that it isn't safe to flaunt your wealth in the first place, bitcoin or not bitcoin. Always watch out for $5 wrench attacks.

https://cryptosec.info/wrench-attack/
https://blog.keys.casa/how-to-protect-your-bitcoin-from-5-wrench-attacks/

[Findingnemo]

If you ask me owning bitcoin is safer than fiat, no matter how much someone tries to steal money they can't unless you give access to wallet.

If someone really wants to steal your BTC, they can do that in two ways. The first is to ask you nicely to tell them where you hide your wallet/seed, and if you refuse there are some methods by which you will tell all the secrets of your life. If you’re still some John Rambo or Jason Bourne resistant to torture, all these bad guys need to find is a weak point, and I’d love to see who says NO when they put the gun on the head of your child, father, mother, sister or spouse.

You keep your fiat in the bank, your crypto is mostly on your computer, smartphone or hardware device, and all this is at the fingertips of anyone who enters your home.

But looking at the possibilities if you are super rich you will have body guard around you all the time and you won't be available in public very easy or if you are a common man who earn decent amount you can feel safer because its very easy to steal our wallets and credit cards than finding the device where we stored our private keys.

[adzino]

What else do they expect? They are going running around telling people how rich they are. They probably are seeking attention and they are getting those attention but from the wrong people. They just make themselves an easy target for criminals. Hope that kid has been returned home safe. He learned a good lesson.

-snip-
A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.
-snip-

I don't think he is the only one who receives constant threats. Almost all public figures involved in crypto or not receives those kind of threat from day to day basis. It's nothing new for them. They just ignore it.

[Sterbens]

I agree that this case should be taken into account. As much as possible not to expose ownership. However, social media is indeed to be used as a place of exhibition, it is difficult for individuals to avoid it. We often see many posts showing the results of crypto trading.

Regardless of the case faced by a Daniel, it will be a lesson, that evil acts always monitor us from all directions that we are not aware of.

[qwertyup23]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

Ohh this is devastating news. The irony is, you want everyone to know about the basics and fundamentals of cryptocurrencies but it also has the chance of backfiring as people would assume that you have many BTCs or cryptocurrencies in your possession.

To be honest, the problem with this stems from the presumption that links being rich from owning cryptocurrencies. I do hope that people would deviate against this idea. Like before, when I mentioned to my friends that I do BTC, they quickly assumed that I had many BTCs in my possession, which in reality, is not.

[Azar138]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

You are absolutely right. It is dangerous to narrate to people that you are involved in crypto industry as you can get many enviers. It is better not to show off at all so as not to receive threats like you said. As for me, it is really seductive to tell people that I work in such an interesting sphere, but I know that it is better to keep silence, otherwise you can face problems such as police and so on.

[electronicash]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

Ohh this is devastating news. The irony is, you want everyone to know about the basics and fundamentals of cryptocurrencies but it also has the chance of backfiring as people would assume that you have many BTCs or cryptocurrencies in your possession.

To be honest, the problem with this stems from the presumption that links being rich from owning cryptocurrencies. I do hope that people would deviate against this idea. Like before, when I mentioned to my friends that I do BTC, they quickly assumed that I had many BTCs in my possession, which in reality, is not.

well if you do show on social media that you are trading BTC today, they will still assume you have a lot of it because by the looks of it you seem to be an early investor compared to those who only knew BTC after 2020.

it was wrong of me to have said to my high schoolmates that i was into BTC back in 2017. now they were thinking i have a ton of it that a few are asking for a loan of just about 0.016BTC in fiat. they don't even know how btc wallet works.    you just can't trust anyone today because a law-abiding man could turn criminal because they'd got no job for almost 2 years due to covid.

[uneng]

It's risky indeed, but when people make a living from crypto universe, sooner or later they don't have any choice besides telling someone here or there they deal with bitcoin, as it's part of our social relationships to talk about facts of routine and work to others.

In this case I think it's important to always minimize the impact of bitcoin in your personal life. Usually people ask if you are able to earn a decent amount of money from crypto, so the answer should be something like: not too much, just the minimum necessary for monthly expenses.

By doing this you are relatively safe, because you won't be considered a precious target by bad people around. The key point here isn't to deal with bitcoin, but the emphasis you give on how much money you make from it, just like in any conversation about your fiat income, for an example. And of course, nothing regards personal finances or businesses (being bitcoin or not) should be shared in social medias where anyone can have access to.

[Viscore]

It's risky indeed, but when people make a living from crypto universe, sooner or later they don't have any choice besides telling someone here or there they deal with bitcoin, as it's part of our social relationships to talk about facts of routine and work to others.

In this case I think it's important to always minimize the impact of bitcoin in your personal life. Usually people ask if you are able to earn a decent amount of money from crypto, so the answer should be something like: not too much, just the minimum necessary for monthly expenses.

By doing this you are relatively safe, because you won't be considered a precious target by bad people around. The key point here isn't to deal with bitcoin, but the emphasis you give on how much money you make from it, just like in any conversation about your fiat income, for an example. And of course, nothing regards personal finances or businesses (being bitcoin or not) should be shared in social medias where anyone can have access to.

Regardless of your source of living, either from crypto or not, its always not proper to say things or show things in public that you are earning a huge amount or you have been holding bitcoin for a long time. This will only give hints to the scammers or criminals out there to keep an on you as you become their new target. To be more safe, stay out from social media or any public appearance that will put yourself into danger. You maybe think that you are going to inspire others that is why you let other people know that you're into crypto, but we don't know what will be the impact for them so better avoid doing it to keep you safe all the time.

[Hypnosis00]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

Why we should have to tell people? That will be the question in the first place.

I don't think that really matters on the age as he was 14years old and was easy for them to kidnap unlike if you were age is already 40 years old, that is something different? But because Bitcoin is now hot and people will think that you are rich already, I believe it is a need for us to keep silent and always anonymous if possible. In fact, it was not necessary to shout and show on social media that you own 1 full Bitcoin just to make yourself proud coz this will only attract people to get rid of you.

[eaLiTy]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

This is not the first time we are hearing about criminals targeting cryptocurrency users who are showing off their cryptocurrency wealth in social media, ironically the first cases i read was also from UK where a family was held at gun point to get his private keys and he was a social media influencer and used to boast his cryptocurrency investment through his social media pages and this was well before the last rally.

So be smart and never post about your investments publicly and if you are doing so make sure you can protect yourself against these criminals  .

[Oilacris]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

Stay low-key!

This is what i do have in mind because if you do brag or boast up about your crypto earnings or assets then you would really be putting yourself in danger or risk
because criminals are really just lurking in the dark and finding out the best or perfect timing on dealing with things.

We know that crypto could give out that probability on gaining big amounts which means you are a good target and able to holdup or kidnapped
just to get your assets.

Never ever share up that you are dealing with crypto because you dont know on whose looking on you.

[Baofeng]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

That's the obvious truth, I mean way back 2017 where we have a massive bull run and many individuals making money and then telling it in public? It's like they are inviting criminals to their home and perform a $5 wrench attack on them.

So as crypto enthusiast in this current bull cycle, we need to keep mum and low profile in the public and not tell anyone specially people that you don't recognise personally.

[Rengga Jati]

Having Bitcoin and also having money in cryptocurrency means -> just shut up and act accordingly. Not to boast about showing off our assets, especially in a virtual world that is accessible to everyone.
Maybe there will be people who don't like it, hackers are rampant and are waiting for our carelessness, and so on.

Just work as we love to do, trade and invest in cryptocurrency as we can hold it, not for telling other people nor show off it in public.
We are working and making money for ourselves and our family, not for other people's judgment.

[decodx]

That's the obvious truth, I mean way back 2017 where we have a massive bull run and many individuals making money and then telling it in public? It's like they are inviting criminals to their home and perform a $5 wrench attack on them.

So as crypto enthusiast in this current bull cycle, we need to keep mum and low profile in the public and not tell anyone specially people that you don't recognise personally.

I can agree with this. I know that many people like to brag about their achievements, including their crypto assets, but that is by no means the smartest move. You never know who might be listening and what intentions they might have.

[stadus]

Same here, in our country, if I say that I owned bitcoin, people would assume that I'm rich and if they think that way, I already created a risk that my life would be in danger. It's better to keep it a secret and continue working and investing peacefully as we need that to continue to experience success in our venture in the crypto world.

Better to say that you have money in the bank than saying you have bitcoin as bitcoin is precious as gold, they'll assume you at least have 1 btc which is worth millions in some countries' currency.

[DoublerHunter]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champins.

This is not the first time we are hearing about criminals targeting cryptocurrency users who are showing off their cryptocurrency wealth in social media, ironically the first cases i read was also from UK where a family was held at gun point to get his private keys and he was a social media influencer and used to boast his cryptocurrency investment through his social media pages and this was well before the last rally.

So be smart and never post about your investments publicly and if you are doing so make sure you can protect yourself against these criminals  .

^ You can do this like other reach people or influencer people who keep talking about BTC and their investment and there is nothing we can do with them.
Reach people can buy or pay their security to avoid those who had interested in your asset or any valuable assets and BTC belonged to that list.
We should be careful of anything that we tell online, this will probably put us in danger once they know about your asset. I would rather choose to be silent than rub with someone.

[GeorgeJohn]

Even without been told, we are meant to know that we are supposed to be extremely careful of exposing the status of our bitcoin we have right now, even from when bitcoin have not been shifted or accelerated to this level of price, on my own even though i have five bitcoin (5BTC) i will not let the public know about it's existence, because in my country bitcoin is not yet legalize officially and their are lot of restrictions order towards it.

So from my views the only people who are meant to expose their bitcoin to whosoever they wishes, is those who  from countries that bitcoin is been legalize and adopted fully without a doubt, but that shouldn't make us to rely or depend on government legalization of bitcoin, because it come to my knowledge that soon criminals will be desperate to trace whosoever that have a cryptocurrency especially bitcoin, and if they notice someone that have huge amount they will be force measure to uproot it from the person with abnormal conditions.

[hatshepsut93]

IMO this is one of the arguments against widespread Bitcoin adoption, because security against such attacks is one of the reasons banks became popular. And Bitcoin really does make such crimes easier, because you don't need to meet in person to get money, and you can anonymize it rather effectively. Bitcoin is already the go-to payment method for ransomware, it's only natural it will be such for real world ransoms too.

Telling people to not flash their stash  is a good advice, but there's also no security by obscurity. So this is likely another reason why in the future there will be Bitcoin banks.

[davis196]

Nowadays we need to be careful when publicly admitting to owning Bitcoin. A lot of crypto traders have been receiving threats as in the case of Daniel one of the guys from Chart Champions.

Things are escalating as, apparently, a 14-year-old kid from England got kidnapped after bragging on social media posts about having lots of money made from trading cryptocurrencies.

That's why I don't like anyone to know I'm in the Crypto business.

It doesn't matter if it's Bitcoin or fiat money,bragging is a sign of stupidity.
Kids and teenagers are going some really dumb mistakes.What if this 14 year old kid is actually lying and he never made any money?His kidnappers would be pissed and we don't know what are they doing to do with him.
I would never admit to anyone in my social circle,that I have Bitcoins.Not even my family.
Not because they are going to tell me the usual "Bitcoin is scam" BS,but because most people can't keep a secret.
I really hate people,who can't keep secrets and people,who like to gossip and spread lies.
There's a special place in hell for such people.