Don’t Always Flaunt Your Wealth And Wallet Online

[nakamura12]

There are ways to flaunt your wealth online by creating a dummy account that won't be link to my personal identity. I think that's the problem of that person. As I stated in my previous post in another thread is that when you have crypto in your wallet that many people know then it is possible that they may ambush and threatened you if you don't give what they want. Anyway, that case is when his wife access crypto when she is in a hotel and later on she find out that all her crypto is gone which is the same as this one but the difference is the person or group of people behind it didn't ambush or anything like that but I did say that it may happen to his wife just like the one happened in this story.

[Mpamaegbu]

I really like the last sentence that Mpamaegbu said in the last paragraph.
Sure, bragging would give you humongous confidence, but what had you personally gain from doing anyway? Stay low profile.

Honestly, for me I believe nothing should make anyone feel better than keeping a low profile. It's the same way we say that a man of authority doesn't need to ask anyone "do you know who I am?" Of course, he knows he's a man of authority and doesn't need anyone to ascertain it. Those who make that statement aren't people of authority in the real sense of it. It's the same thing with real and profitable traders. They don't have anything to prove to anyone and that's why they keep a low profile. Any trader who brags about how much they earn is only advertising to hoodwink unsuspecting public or they're simply signal marketers who need referrals.

[tvplus006]

So far I don't know any people that flaunt their holdings online, but some of them do flaunt their exchange trade PNLs. While it's not as bad as flaunting wallets, it still definitely poses some risk. It's just too convenient for them as exchanges even have a share option after closing a trade.

There are quite a lot of such people, you just don't pay attention to them) Now a lot of people link their ens.domains to the name on Twitter, obviously unaware that the contents of their wallet thus become viewable. As an example, the vitalik.eth address is linked to the name Vitalik Buterin on Twitter and, accordingly, you can view the contents of his wallet by following the link: https://etherscan.io/address/vitalik.eth

[JeromeTash]

On point!

Not everyone you show your wealth is happy with your success. Some are malicious, while others are looking for a way to bring you down. I personally know a couple of folks who were localbitcoins traders with vasts amounts of bitcoins they would keep showing off in our WhatsApp group. They got robbed of their Bitcoins on gun point when they went out to meet the interested "buyers" in person.

[_BlackStar]

People nowadays flaunt their wealth online, with no idea who is watching and tracking their every step. Not all of your close ones like you because you are wealthy; they may be looking for a method to take advantage of your wealth. Keep your wealth hidden from the public; you don't have to brag about how much money you have and how well you live.

Having financial privacy, it is the best advice for anyone. Show off your wealth and crypto balance on social media will be very dangerous and will only threaten security and life. What happened to the person you describe should be one of the reasons why any of us should not display our wealth online. It was clear that it was so bad, they never knew who was lurking.

Even admit how much wealth we have on anyone offline can be dangerous. Obviously this should not be done either online or offline, financial privacy is a must and this is not to be made public.

[Renampun]

...

this is a scary story. why is it important to be anonymous? it's to avoid crimes like this!

Many people don't realize when they flaunt something they have on social media or in real life, it catches the attention of those around them. In addition to the crimes that arise, jealousy and envy will certainly arise from those who hear the news of the show-off.

my father is a wise man, when I was in school he always told me that everyone has different luck, don't show off your luck, those who are lucky will definitely make you the object of their frustration and maybe will try to snatch your luck (rob or kill you).

[Russlenat]

It is not even enough to just say, "don't always flaunt your wealth." It appears as if it is completely all right to flaunt it sometimes or seldom. The truth is that it is never a wise idea to flaunt your wealth anytime. Keep your riches to yourself. For one, others won't be happy for you that you are becoming wealthy. And, of course, others would only think of ways to get that wealth off you. So whether this story is true or not, the lesson is there.

This goes to all rich people who are used to brag their wallet achievements online, not realizing that it could bring threat to their lives from those people who are closely watching them from far. Even though its “not to brag but to inspire other people” according to them, still its not a wise idea to let other people know that you have accumulated it in your wallet. The story might be true, so hopefully it will leave a lesson to those who are able to read it.

[Viscore]

This is some worst case scenario for being less private on our financial status. But of the people that I saw this kind of show off post on social are those influencers and people involved networking that using there wealth to attract people to invest or support them. I only have few friends that do posting of luxury items on social media and most of them has some investment to offer to whoever will be interested to the items that they post online.

It’s not bad to become proud of your possession but we just need to make sure that the only person that see it are those we trust the most and not on public.

Rather than assuring that only those close and trusted people can see our posts, I think it’s a much wiser idea not to show off and brag whatever luxury life we have. Because you really don’t know if your friends will see your posts as somewhat bragging or boastful, and for that they might resort into thinking doing bad to teach you a lesson. Let’s just keep our riches privately, that way we can avoid people from envy and from doing harm to us.

[isaac_clarke22]

~

Kind of reminds me of that good old meme involving rich people wherein it said that...

"The goal is to be rich, not to look rich."

Ironically those people claiming that they are rich and could brag everything in all of their social media are those who just had it really bad. Those traders that you're also mentioning could also be in a plenty of debt in reality and they were claiming that the money they had were the results of their so-called "hard work".
This is why I do not buy some people's "claimed success" in social media a lot especially FB.

[ultrloa]

Ironically those people claiming that they are rich and could brag everything in all of their social media are those who just had it really bad. Those traders that you're also mentioning could also be in a plenty of debt in reality and they were claiming that the money they had were the results of their so-called "hard work".
This is why I do not buy some people's "claimed success" in social media a lot especially FB.

Reason why I don't really impressed people flaunting their trading result on social media and post how much money they get from tradings because most of this guys is just bragging and want to show off, but in the end their losses is much higher than their winnings. I'm more impressed on those people who's silent and consistent on their trades because they are much successful and focused on what they are doing.

[Techkoy407]

showing off wealth is not a good thing,
moreover you only intend to tell or arrogant to your friends,
it's a very risky thing
because as you read above, not everyone is happy we become rich,

so it is better to remain silent in pleasure,
than showing off in fear,

and sometimes there are poor people who see the posts of rich people, they must be sad,
unless the person makes your content or shows off your wealth as motivation, it's still better,

it is better to stay away from the arrogant
because it could harm yourself.

[Cuda911]

There was a rapper in the united states that got robbed and killed because he posted some bunch of money in his car with a friend and also mistakenly revealed his location through pictures, this mistake cost him his life, I have forgotten this rapper's name, we need to be very careful what we share online.

[tvplus006]

Rather than assuring that only those close and trusted people can see our posts, I think it’s a much wiser idea not to show off and brag whatever luxury life we have. Because you really don’t know if your friends will see your posts as somewhat bragging or boastful, and for that they might resort into thinking doing bad to teach you a lesson. Let’s just keep our riches privately, that way we can avoid people from envy and from doing harm to us.

So money loves silence. The problem is not that your friends will find out about your financial success, but that due to the fact that this news will become the property of many, including criminal persons who are engaged in robberies. So such information about your financial situation will become the property of criminal structures, and the form of your wealth does not matter here, it can be fiat, gold or cryptocurrency.

[Lucius]

Not only that but they kidnapped another person and had the funds from the exchange sent to that person's bank account and withdrawn from it.
Why? Why lose more time with this second bank transfer when it's going to be fairly obvious who were the guys that sent the money and who used the second victim's ATM card, ev en for the donut police to find out?

Ok, I know some robbers are just stupid but here we're supposed to deal with ones that at least know a thing or two about currency exchange and everything else, it's just that, l mean, If I were a robber, I would just point a gun at him, make him unhand his smartphone, unblock it, send the coins to an address, and just to make sure smash the phone and the sim card so he can't do anything in the next 10 minutes.
The most important thing in all of this is that if I ever get caught I would face only a robbery charge, not a kidnapping on top of that.

I'm skeptical about some things from this story, so although it's not impossible that it happened exactly like that, it could be that the story was made up by the OP, or he misunderstood what someone told him. Besides, is it that easy to add another bank account number to your crypto exchange without verification?

Something similar happened in India, but according to the report, everything lasted only 3 hours. Something skeptical in me tells me that this story from India could be the inspiration on which the OP wrote the story.

Code:

https://en.cryptonomist.ch/2022/08/19/beaten-kidnapped-exchange-bitcoin-india/

[nurilham]

I totally agree with this.
It would be better if we safeguard and protect our own assets and privacy. Because we do not know who in either the people who make friends or see our online activities in cyberspace. We must continue to maintain caution, especially with regard to sensitive and crucial data such as online wallets. We may have tried to be vigilant but hackers or scammers are very smart to take advantage of the opportunities that exist, even if they are few. Therefore, if we give them an opening, it will be a bad thing.

[stompix]

I'm skeptical about some things from this story, so although it's not impossible that it happened exactly like that, it could be that the story was made up by the OP, or he misunderstood what someone told him.

Yeah, I am too, especially about the whole ATM card thing, but I'm getting tired of calling them out on these stories, there are just so many things that don't make sense and they spin it with every explanation I'm starting to feel sorry for them. We recently had a few of those stories coming up, this kidnapping, the hidden camera in the honeymoon room, and many others, I just know some of them are things that didn't really happen to them and they are just milking the subject, but at the same time, from a reader points of view as long as the story is still true despite happening elsewhere the moral of the story is still the same.

Something similar happened in India, but according to the report, everything lasted only 3 hours. Something skeptical in me tells me that this story from India could be the inspiration on which the OP wrote the story.

Code:

https://en.cryptonomist.ch/2022/08/19/beaten-kidnapped-exchange-bitcoin-india/

As I was saying, it makes no sense with that ATM card, they got the BTC and they made a run for it, these guys got 8 BTC worth 160k, even here in Europe I have a 3k limit on ATM withdraws, it will take me two months trying to get that in cash, and let's not talk about that 300$ limit in Nigeria, it would take you 2 years!!!!!! 
But browsing around, even the "original" didn't include the social media exposure thing, but this case does:

Teenager seized and hauled into car after posting on social media about earning ‘reasonable amount of money’ trading cryptocurrency
https://www.independent.co.uk/news/uk/crime/bradford-schoolboy-bitcoin-kidnapped-gang-b1940896.html

So yeah, the threat and dangers are real!

[Alisha-k]

This is a wise advice for as many crypto trader and investor out there. The inflation rate has triggered so much hardship in the society and for crypto professionals who earn through trading and investment its likely to put themselves in danger flaunting their achievements on social media because it might attract unnecessary persons around you

[Peanutswar]

It depends how you flex with your assets some people make a post to their social media that share their motivational experience to other people so they can keep grinding to earn too, but some people just want only to flex because they have a lot of money and let the people follow them because they are curious how they got those tons of money and this is the cons thing too people with bad intention can easily monitor the activity of the particular person and grab the chance or opportunity to take that money to them.

[Pmalek]

The popularity of social media like Instagram or Facebook has made it possible for everyone to have a voice. Even those with limited thinking abilities (trying not to say stupid). There is a saying: "The goal is to be rich, not to look rich".

Sure, bragging about your wealth on online communities can attract certain types of ladies, but you can also become a target for other groups of people whose intentions are not to take you to bed, but put a knife under your throat. So be humble and down to earth. It's ok to enjoy expensive things, but have some decency. You don't need to brag about your most recent Rolex purchase online when your next door neighbor is struggling to put his kids through school. 

[isaac_clarke22]

You don't need to brag about your most recent Rolex purchase online when your next door neighbor is struggling to put his kids through school. 

I can imagine some people flexing their Lambo and Rolex, but in reality, they're into too much debt. Almost everything we see in social media is just purely the front, but not a single soul has an idea of what's really happening behind.

Almost no one wants to flex their struggles and challenges in life since they don't want to be "ego'd" by other people surrounding them.