Do not share your bitcoin holdings with everyone

[Bd officer]

As we know Bitcoin is digital crypto currency, investing in Bitcoin must be kept secret. In addition, there are countries where Bitcoin laws are not valid, so more caution should be taken for those countries. Be careful not only with Bitcoin, but with fiads or other assets. At present one cannot see the good of another. If you live happily and peacefully, no one else will tolerate it. OP, in the case you heard about in the news, the person who demanded bitcoins as ransom may have known about bitcoins before. Or else, the person wanted to introduce his relative to Bitcoin and showed him his Bitcoin investment. So if you want to give someone an idea about Bitcoin, you should never tell anyone about your Bitcoin holdings. However, investing in Bitcoin is best kept secret.

[Learn Bitcoin]

This is one of the worst things we do. I usually shared with my friends how much I was holding at that moment when I was new to Bitcoin. But the government banned any kind of cryptocurrency transaction in my country. So, I am trying to keep my privacy as much as possible. The mobile device becomes a problem at this moment. We use it, and there are several crypto apps, and my browser history also shows I am a crypto user. Anytime, a random police check can bring me to jail.

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

The problem is people know Bitcoin is easily accessible, and it takes no longer than ten minutes to transfer the funds, and once done, it cannot be recovered.

[bayu7adi]

And that is because I've got some gut feel with that conversation if I prolong it and tell a lot of things, it may go somewhere and I just don't like to talk to that guy. Sometimes we just have to set it to the people that we're no longer into it, these days are dangerous where people can't deal with how hard life is because of inflation, layoffs, etc.

It's smarter to avoid risky situations rather than taking unnecessary chances. Besides, there's no real benefit in showing off our wealth to others. It only makes social inequality worse because money and wealth are something that should be kept private. instead of seeking recognition, it's better to focus on self improvement to become more productive and better.

Talking about Bitcoin is fine, but never disclose the amount of money you have. Blockchain technology is indeed worth discussing and teaching to those who are interested in learning about it. we all understand that technology keeps evolving and updating. It's natural for many people to want to explore new technology and find mentors. What's unnecessary is bragging about your riches.

[Dr.Bitcoin_Strange]

"Consequences." When people make some mistakes out of their ignorance, they face the consequence of their action. Bitcoin is something that you can own without involving any third party and it's not something you can trust with someone that you don't actually trust to the root, even giving off ones investment information to your kids who are not yet of age is very risky because children talks and they can actually give up the information at the wrong place and wrong time. The person that got kidnapped and asked to pay ransom in Bitcoin, had an internal enemy who already knew how much of Bitcoin he has got. For example, you can not kidnapp someone who have just $100 worth of Bitcoin investment and ask them to pay ransom in Bitcoin.

[landheer]

Yes, it is better for us not to tell other people about BTC, except our parents, because now more and more people are familiar with the name Crypto, so sometimes criminals are not only after wealth but also after BTC. So we really have to be careful and of course we have to look after our assets well because the crypto we own is our property that must be protected.

and in my opinion, showing off crypto or wealth is not a good thing because we don't know what someone's heart is like, so as a person who invests in crypto, of course you have to be vigilant and maximally protect our crypto and other.

[Blitzboy]

"Consequences." When people make some mistakes out of their ignorance, they face the consequence of their action. Bitcoin is something that you can own without involving any third party and it's not something you can trust with someone that you don't actually trust to the root, even giving off ones investment information to your kids who are not yet of age is very risky because children talks and they can actually give up the information at the wrong place and wrong time. The person that got kidnapped and asked to pay ransom in Bitcoin, had an internal enemy who already knew how much of Bitcoin he has got. For example, you can not kidnapp someone who have just $100 worth of Bitcoin investment and ask them to pay ransom in Bitcoin.

"Consequences" gives a strong message about how important it is to protect investments, especially in the Bitcoin world, which is very chaotic. Its a strong warning that when it comes to digital assets, ignorance is not bliss and serious consequences happen quickly. Without outside interference, an autonomous currency can be both helpful and harmful if it is used incorrectly.

Using the example of the kidnapped person as an example, the internal enemy is a dangerous threat that is often ignored. Securing your assets while protecting your privacy is a difficult balance to strike. To teach caution without encouraging fear, what should we do? As the talk you start goes deeper into managing cryptocurrencies, our strategies need to be reevaluated.

[God bless u]

I think that not only bitcoin but every success cannot be share with people because now a days people are so interested in getting money that they don't think about bad or good way of earning. If someone is making an investment then he should keep it as a secret because humans are cruel and they cannot see the benefit of others.

Now a days one cannot show his wealth in front of others but I think that those who have money and power are not tortured by people but those who have no power and lack the support of family are usually threatened by the people who force them to give some amount to them. One should be thankful for what they have because as large amount of money you earned bigger will be your problems so accept what you have and if you earn large amount of money then don't share this with anyone because your happiness will be unbearable for strangers.

[boty]

And that is because I've got some gut feel with that conversation if I prolong it and tell a lot of things, it may go somewhere and I just don't like to talk to that guy. Sometimes we just have to set it to the people that we're no longer into it, these days are dangerous where people can't deal with how hard life is because of inflation, layoffs, etc.

It's smarter to avoid risky situations rather than taking unnecessary chances. Besides, there's no real benefit in showing off our wealth to others. It only makes social inequality worse because money and wealth are something that should be kept private. instead of seeking recognition, it's better to focus on self improvement to become more productive and better.

Talking about Bitcoin is fine, but never disclose the amount of money you have. Blockchain technology is indeed worth discussing and teaching to those who are interested in learning about it. we all understand that technology keeps evolving and updating. It's natural for many people to want to explore new technology and find mentors. What's unnecessary is bragging about your riches.

Showing off what we have will certainly make us uncomfortable in living our lives because it can become a target for those who have evil intentions towards the assets we own. There is no point in seeking recognition from other people because you will not gain any benefit from other people's recognition.
Indeed, there is no harm in discussing Bitcoin with anyone and teaching it to everyone because everyone can collect it and can benefit from Bitcoin. you are right, we don't need to tell everyone about our Bitcoin ownership.

[KiaKia]

While growing up I am used to saying that I am not living to get recognised by people like me, I don't want to be popular and I don't want to claim any big sit or some title to my name, I want to live just like a normal person, so even if I become filthy rich I can decide to still live like a normal person.

Some people aren't even worth much, I meant their net worth isn't much but they will crave for attention themselves, they want to be head and they want to be seen, this are the type of people that easily attracts trouble to themselves.

It's safer to live your life like someone who doesn't have much, some people will say its bad to be a pretender well I believe it's better to pretend not to have than to start running your mouth, those who don't have are the real enemies of those that have, lets be careful of our environment and the companies we keep, no one can see what others have inside them, you don't have to tell anyone how much Bitcoin you are holding, its not worth it.

[bhadz]

And that is because I've got some gut feel with that conversation if I prolong it and tell a lot of things, it may go somewhere and I just don't like to talk to that guy. Sometimes we just have to set it to the people that we're no longer into it, these days are dangerous where people can't deal with how hard life is because of inflation, layoffs, etc.

It's smarter to avoid risky situations rather than taking unnecessary chances. Besides, there's no real benefit in showing off our wealth to others. It only makes social inequality worse because money and wealth are something that should be kept private. instead of seeking recognition, it's better to focus on self improvement to become more productive and better.

That's true, there's no essence for you to show off what you've got whether they are other assets that you have or the Bitcoin holdings that you own. It feels unsafe if you're going to do that at this time and it shouldn't be done by anyone for your safety. I think it's best to keep quiet and be happy with what you've got while leaving these people on their thoughts that you've got nothing.

Talking about Bitcoin is fine, but never disclose the amount of money you have. Blockchain technology is indeed worth discussing and teaching to those who are interested in learning about it. we all understand that technology keeps evolving and updating. It's natural for many people to want to explore new technology and find mentors. What's unnecessary is bragging about your riches.

Just put the discussion into being optimistic about the tech and Bitcoin but never get so optimistic in front of them as if you've been holding millions of it because they will notice you.

[fuguebtc]

While growing up I am used to saying that I am not living to get recognised by people like me, I don't want to be popular and I don't want to claim any big sit or some title to my name, I want to live just like a normal person, so even if I become filthy rich I can decide to still live like a normal person.

Some people aren't even worth much, I meant their net worth isn't much but they will crave for attention themselves, they want to be head and they want to be seen, this are the type of people that easily attracts trouble to themselves.

It's safer to live your life like someone who doesn't have much, some people will say its bad to be a pretender well I believe it's better to pretend not to have than to start running your mouth, those who don't have are the real enemies of those that have, lets be careful of our environment and the companies we keep, no one can see what others have inside them, you don't have to tell anyone how much Bitcoin you are holding, its not worth it.

But that's life, there's this person and that person, you can't expect everyone to think like you. There will be people who live very simply and discreetly even though they are extremely rich, but there will also be people who have nothing in hand , are in debt everywhere but always want to brag that they are rich.

Furthermore, in today's life, matter is what determines human consciousness, many people don't want to be looked down upon, so they often want to prove they have money to gain more respect . But trouble is often beyond their imagination. In my opinion, not only bitcoin, we should not brag too much about any valuable asset, be humble and humble to have the most peaceful life.

[sana54210]

I feel bad about him. It’s not his fault that he shared his investment to a relative. Why do those people who take advantage of the fortunate ones exists. He worked hard for it. Being a bit low-key about your crypto is like keeping your cool in a game. It's not their fault the situation happened, but being careful with what you share can definitely keep things safer and more chill.

I mean it's your relatives among all those people, it's really such a shame and I think it should not really be such a situation for most people. I am not saying your relatives should not harm you, but if you can't share the good news that you are doing better with your relatives then you should definitely share it with anyone.

I believe that we are not going to end up with anything that would be a lot more riskier than that, we should be just hiding it even from our spouse if we can. That's what I aim to do, not that I have anything but if I ever get rich one day, I am going to just hide it from my wife as well, and just make sure that I can leave some good amount for my family after I pass away, because I know that if I tell it to my wife, she will spend it all in five minutes lol. So I will make sure we live a good life, pay everything like I am earning a salary, probably act as if I make a little bit more than usual, but nothing major. I make about 1k a month right now, and I will act as if I am making 2k a month, and that's it.

[m2017]

I feel bad about him. It’s not his fault that he shared his investment to a relative. Why do those people who take advantage of the fortunate ones exists. He worked hard for it. Being a bit low-key about your crypto is like keeping your cool in a game. It's not their fault the situation happened, but being careful with what you share can definitely keep things safer and more chill.

With ordinary money and with cryptocurrencies, there are only 2 problems:
1 - how to earn it.
2 - how to save it. This point includes not sharing information about the bitcoin you have, including with relatives. The implications have been discussed extensively in this thread.

I mean it's your relatives among all those people, it's really such a shame and I think it should not really be such a situation for most people. I am not saying your relatives should not harm you, but if you can't share the good news that you are doing better with your relatives then you should definitely share it with anyone.

Good news should not be shared with anyone at all. Still, no one will appreciate it properly and will not be happy for you. Outwardly, this may be demonstrated, but the dark nature in a person will probably only be jealous of your successes. This is especially evident when it comes to finances. Silence is gold.

I believe that we are not going to end up with anything that would be a lot more riskier than that, we should be just hiding it even from our spouse if we can. That's what I aim to do, not that I have anything but if I ever get rich one day, I am going to just hide it from my wife as well, and just make sure that I can leave some good amount for my family after I pass away, because I know that if I tell it to my wife, she will spend it all in five minutes lol. So I will make sure we live a good life, pay everything like I am earning a salary, probably act as if I make a little bit more than usual, but nothing major. I make about 1k a month right now, and I will act as if I am making 2k a month, and that's it.

Why then earn money if it doesn’t radically change anything in your life? Just for the inner feeling that you have money? I'm not saying you need to live your life extravagantly, but why would you need more money than you can spend? To leave it to the wife and children so they can quickly blow it off?

[HideYourKeys]

In a case like this, I would recommend having some sort of decoy wallet, and hope that the attacker/kidnapper (or relative in this case) finds that amount enough... You could even tell them that it's all a lie, and all you have is the amount in the decoy wallet... and that you only wanted to brag a bit about it 

[btc78]

This has been said to me many times and I have not shared to anyone even my friends that i have invested in bitcoin. some people might think this is selfish because you’re keeping a good financial advice to yourself but you should know when to share or keep things to yourself for your own safety for anyone who keeps their wallet in their phones you need to be extra careful and cautious of everyone but yourself

[TakeItEasy]

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.

Nothing special in that, as this can't be only bitcoin, if a person only have money the thief can ask for his money too, whether he have any other way of investment. Also, sharing the money with other people can't give a person profit as we have seen that that in this world people can only ask about your money that how much you earn but can't tell of his own.

But how could the theft kidnapped your relative and how could he directly goes to know about the bitcoin holding of your relative? Are the kidnappers were so cool that they have knowledge about the bitcoin and the crypto field? Or this is just a story you told us to stay safe from telling our holding to anyone?

[danadc]

I have learned something, that our love life, projects and whatever we have in money should not be shared with anyone, because what most people can feel is envy when they know that anyone is doing well, it is better to publish stupid things on social networks so that people believe that we are stupid, but envy and bad energies have a lot of influence, when it comes to money, the best thing is not to give information to anyone, and keep that secret in addition to envy and all that bad , what is created is an imminent danger for the person if they realize who is actually the owner of that wallet and it is a danger for their own life.

[Furious 7]

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.

Can I see the news because I searched but didn't find any related articles about this.
But indeed the most important lesson in this case is not to overexpose what you have is an important thing because after all when talking about bitcoin then surely we already know what anonymity is so why make your own condition more difficult because of showing off ownership by exposing the portopolio that we have just for a moment of exposure and popularity.
Currently, something like this is quite rampant where bitcoin is used as a place to show that they have considerable assets even though it will invite something that is not wanted.

[Stable090]

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.

Why do you have to disclose your bitcoin investment to anyone? Your investment should be secret, and if you do disclose it to anyone, I will make sure it’s someone I'm very close to, not just a random person in my family. Even if I am explaining anything about bitcoin investment to anyone, I don’t use my wallet as an example so that they won’t know the amount of bitcoin I am holding. I will ask them to create a wallet, and I will use that to explain it to them.

I can say it’s not only bitcoin investment, don’t always disclose even your bank account balance to people, if they know what you're worth, they might end up targeting you. If anyone comes to you to ask if you are holding bitcoin, just tell them you are holding a small amount of bitcoin, but never show them your wallet.

[Sexylizzy2813]

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.

I feel that's just show off and carelessness because I see no reason why he should show his sweat to not just 1 but more than one of his relatives. Definitely it would spread and they can do anything just to get hold of his money. Your passcode or anything concerning your wallet or anything that you feel you're using to secure your assets shouldn't be shown to nobody but one person that it can be shown to, just that person you trust with your life, that should be YOU and nobody else.