Do not share your bitcoin holdings with everyone

[arhipova]

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

[Zaguru12]

This advice should be just straightforward do not flaunt your wealth. If you use the search function you will see members have created this kind of threads and posts warning of this. It doesn’t only exposes you to the government eyes but also exposes both you and your family to dangers. Sadly this is one of the many bad things social media has introduced, many People mostly Gen Z flaunts themselves and don’t see it as breaching their own privacy.

Also many people have had this bad narrative that those involved in bitcoin investment are super rich people because they make profit everyday. So when news of you having them go out you are at a huge risk of getting kidnapped or killed for it

[Orpichukwu]

In the society in which we find ourselves today, being wealthy alone makes you a target for kidnappers, and it creates more enemies for you as a human. Your financial life should be kept secret from the eyes and knowledge of others. That way, you can rest assured of your own personal safety.
 
It has already been said that time without privacy matters a lot. It's not just because you want to hide your identity, but for security reasons. If one starts broadcasting their bitcoin holdings, then there is no privacy attached to their investment; they can just add a name tag to all their addresses so that people will notice how wealthy they are in crypto.

Only those who are looking for attention always share their holdings information, and their reason for such is what I can't really figure out as they always fall victim to either being killed, rubbed, or any sort of criminal assort.

[Cantsay]

It’s never a good practice to let others know about your financial life, sometimes it’s even better if those close to you don’t even know anything about your finances or how you receive and spend money, on what form is your money keep, the type investments that you have ventured into, just be as secreting as you can be. Because there’s a higher chance that you’ll attract people with ill intentions toward you just as what happened to the person in Op.

And this is the reason why I always admire those that still go out of their way to publicize bitcoin; because if I should try to tell people what bitcoin is, even when I don’t have much in possession as long as I know what it is I’ll be categorized as a very rich person because they think only extremely rich people can have bitcoin and this is also an example of how one can be at risk for letting other know about their finance.

[mk4]

Yep — applies to not only bitcoin and crypto, but your wealth in general. It's simply the most nonsense thing ever as all you're going to gain is a bit of bragging rights, in exchange for a dozen of potential problems. Next thing you know your friends and family are now trying to loan money off you, and a kidnapper with a $5 wrench is waiting for you around the corner.

https://chainsec.io/wrench-attack

[blckhawk]

This advice should be just straightforward do not flaunt your wealth. If you use the search function you will see members have created this kind of threads and posts warning of this. It doesn’t only exposes you to the government eyes but also exposes both you and your family to dangers. Sadly this is one of the many bad things social media has introduced, many People mostly Gen Z flaunts themselves and don’t see it as breaching their own privacy.

That only works for people who have a moderate amount of wealth, when you move to a certain threshold, the money you're earning and the wealth that you've got is going to show and the only way you can be secure is hiring a security services and isolating yourself from others which is sad and deplorable as it's going to remove you the human experience as time goes on. Also, it's not entirely the fault of someone when they flex their wealth or celebrate the money that they've got, we are forgetting the fact that someone's committed a crime on someone because we want to force our ideals on others about not being a show-off, it's not a crime to flex your money or wealth anyways.

[Bananington]

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

you can often let your guard down when you find yourself in the midst of people you call very close friends and even family because you believe that these people have the same love for you and will respect the trust you have for them. But some of these people are more dangerous than the people you fear outside, because to some of them, they have no respect for the trust you have for them are not even interested in sustaining any relationship you have. As you are careful of strangers, be also careful about the people you call friends and family.

[Eternad]

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

This is not new. Actually it’s dumb to flaunt Bitcoin in public while the main goal of using Bitcoin is for decentralized transactions. Most of the people doing are those arrogant or someone who’s using his gain to attract other user to invest while benefiting on them through referral link.

I have a lot of friends like this on social media and most of them promote ponzi after sharing huge holdings of crypto asset.

Not only Bitcoin is subjected to this but anything that is valuable because you are attracting someone to rob you because you don’t who will rob you while they freely observe and wait for perfect opportunity to attack you.

[pawanjain]

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

Lol, in the current decade, the most dangerous people are our relatives.
They easily get jealous of our growth and continuously find ways to harm us in one way or the other.
It's not just about bitcoin but we shouldn't disclose any of our assets to anybody (except for the one who can inherit our holdings).

[electronicash]

even relatives couldn't be trusted anymore. heck you can't even trust your wife with your money. she'll take that away from you every chance she gets.
posting something like your wallet on social media will get you killed because people today have no jobs and no means to make money. if they can find where you are and know a life incentive, a robber can plan his entire month waiting for his chance. you best keep your social media post to posting images of your launch 

you can only trust yourself with your money. there were crimes in which sons killed their fathers for the inheritance, that's very terrible.

[michellee]

I agree with what @OP said. We can't take risks by telling how many Bitcoins we have. We don't know who is good and bad so we can only be careful. This is not only for Bitcoin ownership but also for ownership of other assets.

We have to be careful not to arouse evil intentions from people we don't know. We should just act as we are and if we want to teach Bitcoin to other people, we just teach what we know and don't need to show them how many Bitcoins.

In addition, by hiding the amount of Bitcoin we have, we can stay safe. No one will be suspicious or have evil intentions. It's better for us to be ordinary people who don't invite any suspicion from people.

[CryptoHeadlineNews]

I was listening to a news that one of the relatives of a person kidnapped him and asked him for bitcoin in ransom. This happened because that person showed his bitcoin holdings to many of his relatives and news spread among them that he has lot of money invested in crypto. Though, finally funds were recovered from that guy but he could have even lost his life in the whole scenario. Thus, you should be careful with disclosing about your bitcoin holdings to everyone.

The world is wicked, and so is the heart of men, and that's why I will always keep respecting Satoshi for staying anonymous despite after Bitcoin got mass adoption and the price skyrocketed higher for his safety and other reasons best known to him/her. But however, financial literacy is one that I have noticed that most people lack after investing, and securing their funds, knowing fully well that no matter whatever relationship you may have got with anybody, when it comes to financial status, that's one thing you ought not to have reviewed to anybody, but yourself alone. As you never can tell who could hurt you tomorrow, since people changes everyday, and as such the only way to avert such scenario is to keep our finance private.

[letteredhub]

One of the most terrible mistakes we make as individuals is disclosing our financial power to an outsider.
Most times we just want to show up or being less secretive, as a person it endangers our life expeccially when we do it among the poor.

Have you ever ask yourself why the rich people stay far from the poor, it's because they are afraid of their safety.
Exposing your financial status is very dangerous to you, remember that people can only ruin what they know, they can't ruin what they don't know.

[Grizzly888]

It's not only about crypto. Everyone should clearly understand, if you shout about your wealth, always flex your money - one day you might have huge problems. Because people with bad motives are not sleeping, they constantly monitor rich and heady guys, and after do whatever they want to reach seed phrase etc. My recommendation is still actual, work on your finance, invest, become richer and richer, but don't tell it to others, don't run own pages in social media with rich life. Otherwise, one day you might lose all your wealth or even worse - you may lose your life. Money loves silence. FACT.

[bitzizzix]

Only a fool shows his wealth or the amount of Bitcoin ownership he has, because it is very risky and invites problems that can have fatal consequences. And if you look luxurious or rich, it doesn't matter, because
There are many people like this and even poor people can look like rich people.
Because people can become evil if they find out the amount of their wealth because they feel jealous which will give rise to evil thoughts to take it in any way, and maybe only newly rich people act like that because they feel arrogant.
In fact, there have been many cases like this that should be used as examples and lessons so as not to carelessly show large amounts of ownership to anyone, including family and friends.

[Don Pedro Dinero]

Let's see, I would like to relativise the general opinion that you have to keep your wealth secret.

This advice should be just straightforward do not flaunt your wealth.

In the society in which we find ourselves today, being wealthy alone makes you a target for kidnappers, and it creates more enemies for you as a human. Your financial life should be kept secret from the eyes and knowledge of others. That way, you can rest assured of your own personal safety.

Yep — applies to not only bitcoin and crypto, but your wealth in general.

If you have an income that is in the top 5% of earners in your country, what are you going to do, move to a poor neighbourhood, live in a shitty flat and drive a shitty car to hide? It's one thing if you don't show off, but if you have a high income it's normal to live in a good neighbourhood and drive a good car, to give a couple of examples.

[Zanab247]

Many things are happening these days which, we need to be very careful who will share our BTC investment details with because you don't know who is your enemy and your enemy that can do such evils to you can be your relatives or friends who you helped some years ago or the ones you are trying to help to rise like you.

Now that many people know what BTC is all about in the society and, the moment they discovered you are a bitcoiners in the environment, they know you are a wealthy man or woman and they can use anything to get money from you either by kidnapping your lovely wife or your handsome husband that will make you to send BTC as a ransom before they can release he or she which you must pay for the person to get freedom.

[Pi-network314159]

Some peoole always have that characteristics of intemedating people with what dey have. Not only in crypto currency sometimes I wonder how somebody will be intimidating his fellow human being because of what he/she has. life should be a simple thing that everybody should understand. Sometimes we drag on peoples attention to ourselves. A man Got kidnapped by just telling his friends his achievements. and paid a huge sum of money for his Ransom.

[pixie85]

It's good advice especially when you don't know what the value of your investment will be in a year or two and believe me, people you show it today will remember about it in a few years.

You may think like it's not a big deal, you told your friends that you bought 1 bitcoin last year at 16000 dollars which was a price of a new motorcycle so nothing special, unless you're dirt poor.
Now it's 30 000 so you can buy a nice car for that, and not the cheapest little thing, but something fancy like a 2020 challenger or mustang. That can make them envious already.

Next year if ETF gets approved we'll be expecting to see bitcoin at 60 000, or even at a new ATH. In terms of cars that's a Tesla S. Many people would kill for that money.

[ChiBitCTy]

As a financial advisor and someone who takes security very seriously, I highly recommend telling NO ONE how much bitcoin you have or money or what your yearly salary is etc.  It's no ones business except for if you have a spouse.  Other than that, friends and family don't need to know.  Never brag about your money either.  It's important to stay private in this area.

I see all these stupid social media clips where people with a camera and mic walk up to people and just straight out ask "how much is you rent" or "how much money do you make per year".. your answer should always be.."thanks but that's information I don't share, have a good day".