Silly and scary questions, and what would you do if that were you.

[bitzizzix]

I became worried and found it difficult to answer after my friend asked me scary and ridiculous questions about Bitcoin ownership.
he asked. If friends, new acquaintances, or other people find out that you have a sizable amount of Bitcoin, and you don't tell them. Then you are kidnapped with several people covering their faces, with the aim of getting your wallet address with the risk that if you don't give it you will be killed.
And another reason, you have given your wallet address to members you trust, such as family members or your wife and children.

And I want to know, what are you going to do.
Aren't you going to give the bad guy your wallet address, and you let him get killed. However, your Bitcoins remain safe because you have given your wallet address to someone you trust.
Or you will give it away because you still want to live, and you don't have any more Bitcoins.

And it was just a casual conversation with a friend of mine who both owns Bitcoin, and I was just wondering what other people's answers to this dreaded question made me want to create a thread.

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[Apocollapse]

There was a recent thread about this case, looking at the answer, it's either you create a multisig wallet, extended passphrase, or just having more than one wallet.

But if someone getting kidnaped when he only have one wallet and the attacker know about that, well it's better to let your money go than your life.

Since you've create this thread, I guess there's no excuse anymore as you've know to overcome that.

[SquirrelJulietGarden]

The situation is serious because it relates to your life, you can be killed.

First, don't try to make noise and let people know that you are a Bitcoin investor, have a lot of bitcoin and you are rich. It is prevention.

If you already did stupid things opposite than above recommendations, you have to prepare a small wallet to gove it to bad guys when serious situation comes. Because you will be able to use that wallet, to save yourself.

Even if you give them that wallet, nothing to be sure that they will free you. So let's return to first recommendation as prevention to be attacked. You will be smarter if you keep personal actitivies in secret.

[bittraffic]

Give them what they want. You can fight back that's a bit risky but have your firearm concealed all the time. Shoot when the opportunity is on your side.
If you want to prevent this from happening then just don't share with anyone that you have Bitcoin. I don't know if the stories about people getting kidnapped and ask their passwords at gunpoint were true but it's very possible especially if you share information on social media.

Sharing anything that criminals can assume you have some tremendous amount of wealth means you can be targeted.

[rat03gopoh]

I recently caught someone trying his luck with the classic scam "privatekey bait".
My silly answer, why don't I start collecting these kinds of keys just in case? Let's say someday in a situation OP described, I'd hand over these keys to a robber. More seriously, I'd rather prevent myself from becoming a target for criminals. I thought this situation would never happen.

[michellee]

It's very scary, and I wish it hadn't happened to me. But if that happened to me, maybe I would try to trick them so they would trust me. Next, I will try to save myself. I don't want to be a victim of kidnapping or murder. And I think the rest of my family will try to find me when they find out I'm missing.

By trying to trick them, I still have a chance to live. And that's where I still have to try harder to save myself. After all, I don't store all my Bitcoins in just one wallet address. I keep it in many separate wallets, which I have told my trusted people about. They also know how to use their Bitcoin.

That would be a scary scenario if it happened. And that's why we don't need to tell other people that we have Bitcoin, let alone tell them how many Bitcoins we have.

[Orpichukwu]

Now, let us not get things confused here. You gave out your wallet address to your family and the people you trust, and anyone with the address can view what the wallet holds and cannot move out of what is inside. So aside from you, do any of your family members you trust have access to the wallet? If the person appears not to be found any day, can your family access the wallet with your phrase?
 
Then again, in a situation like this, you never can tell if you give out this wallet if they will still let you leave or treat you as trash after they get what they want. One thing is to ask for it, and the other is for them to keep their own side of the deal, so you have to take the risk involved here in order not to lose it all at once.
 
If there is some sort of guarantee that if you give out that wallet access to them, you will be set free, then the best thing will be for you to do that, as your safety and life matter more than that bitcoin. If you are alive and in good health, you can always acquire more.

[electronicash]

It's very scary, and I wish it hadn't happened to me. But if that happened to me, maybe I would try to trick them so they would trust me. Next, I will try to save myself. I don't want to be a victim of kidnapping or murder. And I think the rest of my family will try to find me when they find out I'm missing.

By trying to trick them, I still have a chance to live. And that's where I still have to try harder to save myself. After all, I don't store all my Bitcoins in just one wallet address. I keep it in many separate wallets, which I have told my trusted people about. They also know how to use their Bitcoin.

That would be a scary scenario if it happened. And that's why we don't need to tell other people that we have Bitcoin, let alone tell them how many Bitcoins we have.

you can only hope they believe when they see you only have $5000 in one of the wallets you'll give. and then they leave also, it's a lot risky when they know you have a ton and you tried to trick them.

if those people spied on you for a month on social media and learned things about you, where you live, your wife and daughter this is more complicated. it's best to be anon on social media so no one will ever see your posts and keep the BTC secret from the public.

[kryptqnick]

I believe that kind of concern is not specific to Bitcoin, it applies to any kind of money/wealth a person has. I'm certainly not wealthy, and I try not to think about robberies. Money or any sort is not a #1 priority to me, so of course I value my life and the lives of others higher than my BTC or any kind of money. I wouldn't resist, I wouldn't try to play dumb or do anything like that. If it's a life-threatening situation, I would give access to any money that I have, provided that the robbers already know about it or suspect it. Life and well-being is something hard to make more of, unlike money.

[mindrust]

I became worried and found it difficult to answer after my friend asked me scary and ridiculous questions about Bitcoin ownership.
he asked. If friends, new acquaintances, or other people find out that you have a sizable amount of Bitcoin, and you don't tell them. Then you are kidnapped with several people covering their faces, with the aim of getting your wallet address with the risk that if you don't give it you will be killed.
And another reason, you have given your wallet address to members you trust, such as family members or your wife and children.

And I want to know, what are you going to do.
Aren't you going to give the bad guy your wallet address, and you let him get killed. However, your Bitcoins remain safe because you have given your wallet address to someone you trust.
Or you will give it away because you still want to live, and you don't have any more Bitcoins.

And it was just a casual conversation with a friend of mine who both owns Bitcoin, and I was just wondering what other people's answers to this dreaded question made me want to create a thread.

When you are a wealthy person, these problems may emerge whether you own bitcoin or not doesn't really matter. If you live in a country where there are too many criminals, then as a wealthy person, this is the problem you need to solve first. Obviously, sooner or later you will be a target and if the juridical system isn't functioning, then your wealth will get stolen from you. Let's say you don't have any bitcoins but you have lots of FIAT in your bank account. These same people may still kidnap you, put a gun on your head and tell you to send the money to an overseas account. Once the transaction is complete, it will be over.

Getting rich is a hard task, the harder task is staying rich.

[cryptoaddictchie]

If you knew to yourself that you have a lot of bitcoin that even your family could be in danger due to that then keep that to yourself. Yes family members are trusted but how sure it is. Sometimes the scariest one is your close relative or cousin who are just being quiet and monitoring you slowly. If its involved money then be sure to trust no one.

[FatFork]

Basically, this hypothetical is like asking if you'd fork over your cash or valuables if some robber stuck a gun in your face.  Well, duh - of course you gotta hand that stuff over! Money can be replaced but your life can't. 

In this whole give me your Bitcoin wallet at gunpoint or I'll kill you scenario your buddy cooked up, the only sane choice is to tell the baddies what they want.  I mean come on your life is way more important than some digital coins.   

Obviously no one wants to end up in that nightmarish spot and  best way to avoid it is to be real careful who you tell about your Bitcoin stash.  Dont chatter to friends, family, or randos you don't 100% trust.  And if you spill to someone you do trust for safekeeping, drill it into their head that the info cannot get out under any circumstances.

[Zaguru12]

There was a recent thread about this case, looking at the answer, it's either you create a multisig wallet, extended passphrase, or just having more than one wallet.

I think having more than a single wallet is the only thing that would save one from this situation, even if you have multi sig wallet the other co-signers will definitely be contacted and if they make a wrong move then your life might be placed in danger. Also for the seed phrase been protected by the passphrase it also useless in cases like this because if a wrong wallet is recovered by the kidnappers then you’re in danger again. Passphrase and multi sig wallet are just protection against phishing attempts and not attacks like kidnapping.

As to OP it will be stupid to give them wrong information at that condition, we actually accumulate bitcoin or other material stuffs just to live a comfortable life why protect those things with our life’s at risk

[Beparanf]

he asked. If friends, new acquaintances, or other people find out that you have a sizable amount of Bitcoin, and you don't tell them. Then you are kidnapped with several people covering their faces, with the aim of getting your wallet address with the risk that if you don't give it you will be killed.
And another reason, you have given your wallet address to members you trust, such as family members or your wife and children.

The question is how will people find out about your huge holding without disclosing it publicly? Isn’t distributing it to other people will make you more exposed to danger because you will put others on your same spot?

The best thing to do is make your holdings private at all times and never talk about it to anyone if you want to avoid this kind of situation. Prevention is better than cure especially if you have a choice to become silent at all times while enjoying your Bitcoin holdings benefits.

[umbara ardian]

Discretion is key. Publicly broadcasting your financial situation, particularly in volatile and potentially risky sectors like crypto, can attract unwanted attention. Think of it like carrying a bullseye on your back. Keeping your financial life private is not about secrecy or shame; it's about minimizing unnecessary risk.

While your example uses Bitcoin, the principle applies to any valuable asset. Flaunting wealth, regardless of its source, can be a magnet for trouble. It's like wearing a flashy necklace in a dark alley – it makes you a target. True wealth, in all its forms, often thrives best in the quiet, away from prying eyes.

Ultimately, the choice of how much to reveal about your financial life is a personal one. But remember, true security often lies not in flashy displays of wealth, but in quiet prudence and a measured approach to sharing personal information.

[Alana Arden]

It sounds a bit cinematic, but many people face such situations in earthly life.
And in such a terrible situation, it is better to save lives. Because they will attack you by planning so that even if you try, you will not be able to fight them.
It is better for you to fulfill their wishes than to be injured or killed.
 Because you can get back your lost wealth at some point if you live, but if you lose your life in the illusion of wealth, then there will be none.It seems that well-wishers with knives in their backs under the guise of friendship are all around us, but we don't recognize them.

But the most important thing is to keep you and your assets, or bitcoins, safe so that you never end up in such a scary situation. And your assets will be safe only when you don't share your assets (bitcoins) with everyone.
Not only digital assets (Bitcoin), but earthly assets also need to be protected. Of course, those who have bad intentions sit there, hoping for such tempting news, and attack when they see the opportunity.

 That's why you have to take responsibility for your wealth management in all circumstances. So keep yourself in check. Do not share any information with anyone that may put your precious life at risk.

[Z-tight]

This is the reason why privacy and anonymity is very important when you use BTC. If you own BTC you should not go around telling people you do, and if you want to spend or receive funds from friends and people who know you, use a fresh address, do not use an address that contains the majority of your funds. You cannot spend $5 on coffee from an address that holds 5 BTC, it is not a wise thing to do.

If you are kidnapped, there is nothing you can do and you have to hand over the funds to the criminals. But you can extend your seed phrase with a passphrase, and you can use it to create plausible deniability in a case of a $5 wrench attack or a kidnap, the criminals may fall for it and only steal the funds in your base wallet.

[Davidvictorson]

And it was just a casual conversation with a friend of mine who both owns Bitcoin, and I was just wondering what other people's answers to this dreaded question made me want to create a thread.

As someone who prioritizes family, my responses will be based this principle. The significance of my family cannot be  overemphasize. They are my utmost priority. Their presence gives my life meaning, and I love them so much. I with a second thought give up my bitcoins repeatedly if it means being able to witness the growth of my family and share in key moments of my children's lives, such as graduations, weddings, purchasing their first car or home, and more. I will always be able to accumulate bitcoins again over my lifetime, but I cannot have another family. I would willingly give up my bitcoins to criminals multiple times. Family always comes first in my life.

[SatoPrincess]

Only a foolish person would put money above their life. Yes, it will hurt to lose money in worked hard for but money can always be made by the living. The only sensible thing to do is to pay the ransom and pray you get home safely. This is a good example of what can happen when you make your bitcoin hodlings public, you create a unsafe space for yourself.

[nakamura12]

That is scary indeed but it won't happen to anyone if you as a person and knows the danger it may bring but there's a way that it won't happen. Even though no one knows that you have bitcoin but you shouldn't tell anyone that you have except the people who you trust the most and you should also have something that will protect yourself or for self defense. I don't see anyone who is willing to risk his life just so that he can keep his/her btc. My question is, how will you manage your bitcoin when you're dead?. The answer to your question would be to give the wallet so that you can live.