STOP telling people how much Bitcoin you have

[Asuspawer09]

I just wanted to share a piece of advice that I learned early on from Andreas Antonopoulos (if you don't know whom this is, I highly recommend looking up his YouTube page and watching his videos and or reading his book Mastering Bitcoin) never tell anyone how much bitcoin you have.  Andreas use to say it's not our job to teach everyone we know about bitcoin, letting them know we own some "Let that be my job" he would say.

I see so many people that come around here sharing how much bitcoin they own...don't.  Just like any of your finances such as your portfolio or how much your annual salary is..it's no one's business but your own.  Being transparent about these things can be harmful to you in a multitude of ways.  As an advisor this is something I tell my clients all the time.  Your financial info is private and should always remain that way.  I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

Most of the videos that is like do these things like asking how much they are paying when it comes to their rent are really popular since people just are amazed that they are paying that much for just rent, probably depending on how good the location is, there are videos where they even tour the youtube to there own apartment which I think is fake or a setup because you wouldn't really let someone or a stranger at your own home that easily.

I guess people just want to actually brag on social media for sure just for the views or something like that they would really want attention these days, revealing this kind of information is going to boost their posts maybe.

Personally, I wouldn't really reveal sensitive information just for security reasons for sure, I mean we just don't know what people can do there are also cases of this where people could easily force you to take your Bitcoin or even your funds. It is for sure safe but if it is life-threatening already they could easily forced you to send a certain amount probably to the other wallet and you cant recover that fund anymore.

[elevates]

My friends know that I have invested in Bitcoin, and whenever I meet them they come up with the topic, how many Bitcoins have now accumulated?. My reply to them has been sometimes straightforward and sometimes in a polite manner always is mind your own business. The habit of not disclosing the status of the bank account to everyone should also apply to the Bitcoin wallet. Revealing about your account status in public or to anyone might bring trouble to oneself as you never know what might be brewing in the minds of others.

[Baki202]

My friends know that I have invested in Bitcoin, and whenever I meet them they come up with the topic, how many Bitcoins have now accumulated?. My reply to them has been sometimes straightforward and sometimes in a polite manner always is mind your own business. The habit of not disclosing the status of the bank account to everyone should also apply to the Bitcoin wallet. Revealing about your account status in public or to anyone might bring trouble to oneself as you never know what might be brewing in the minds of others.

I don't think I would also have kept such information from my friend, especially if the person is also interested in bitcoin, and it is even more better to always keep your investment in bitcoin a secret because of some valuable reasons, and the investors safety too, because the moment that information is everywhere then you will be a target to people and even scammers, they will look for different means just to hack you and steal your bitcoin and i can share such information with my family but what if you family shared the information with who they are not suppose to share with.

And as an investor of any kind of business knowing what to say and minding you business is a good sign that the person is growing because if you don't learn how to keep your mouth shut then there will be a lot of challenges and that is why some people are still have security issues until now, because what they would have kept a secret they have exposed everything and that way the problem have started.

[Taskford]

My friends know that I have invested in Bitcoin, and whenever I meet them they come up with the topic, how many Bitcoins have now accumulated?. My reply to them has been sometimes straightforward and sometimes in a polite manner always is mind your own business. The habit of not disclosing the status of the bank account to everyone should also apply to the Bitcoin wallet. Revealing about your account status in public or to anyone might bring trouble to oneself as you never know what might be brewing in the minds of others.

I will lose a friend if that is my approach to them and will not do that approach since its like disrespecting them. If they ask politely then maybe I will answer them without trying to insult or hurt there ego, but as always I will not disclose any figures to them and will just say just have few chunks so they will not ask more. I know its hard to tell anyone about our balances especially if we hide huge amount in our wallet since we don't know if we can still trust them if those people know that we have a lot of money hidden on our personal wallets.

Revealing our account in public might really be a dangerous action that we do that's why its highly been discourage for anyone to do this so that they can assure their safety. Also I always believe that staying at low key life can lessen up the risk to get personal problems related with our BTC holdings.

[slaman29]

I've never actually read on this forum someone saying how much they own. If they do, it's an estimate, and 90% of the new posts here nowadays are all fake stories. Influencer clickbait nonsense like "I got my friend into Bitcoin" or "I just made a new business for $50 in BTC.

You wouldn't expect people to say how much savings they have or salary they make, unless it's between coworkers trying to negotiate common raise.

So it's not really advice, I think, just normal safety things to act with money.

[LastKiss]

~snip~

I see so many people that come around here sharing how much bitcoin they own...don't.  Just like any of your finances such as your portfolio or how much your annual salary is..it's no one's business but your own.  Being transparent about these things can be harmful to you in a multitude of ways.  As an advisor this is something I tell my clients all the time.  Your financial info is private and should always remain that way.  I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

I saw someone who tells how much they have as an influencer to attract for their new follower, I never see someone like my friend telling me how much they have but just said that they investing in Bitcoin. Telling how much you have is not that risky I guess as long as we keep ourselves safe from hacking methods, if we can encourage our friend with our portfolio from Bitcoin so he will learn about Bitcoin I will gladly show him how much I earn just holding Bitcoin in a year from the last bottom price.

[LogitechMouse]

Re: STOP telling people how much Bitcoin you have

Just for context, there is only one person who knows the exact amount of Bitcoins that I have (and she also knows my crypto portfolio), and there's only one person who knows that I'm into crypto, and I'm holding Bitcoins. The good thing is that we're both involved in crypto as well so he's holding some coins and Bitcoin as well,

I don't tell anybody how much Bitcoin that I have, but there are times where they're asking me regarding Bitcoin and if I'm holding some. I just answer yes, and will not tell how many for my security as well. Nevertheless, telling how much Bitcoin you have for me is like, you are bragging it to them. Don't do it. Telling it to other people will not benefit you, but instead it might cause harm and you might get in danger as well.

I mean, is there anybody here who shared the total amount of Bitcoins they hold to other people? I mean other people is that, people outside your family?

[naira]

I just wanted to share a piece of advice that I learned early on from Andreas Antonopoulos (if you don't know whom this is, I highly recommend looking up his YouTube page and watching his videos and or reading his book Mastering Bitcoin) never tell anyone how much bitcoin you have.  Andreas use to say it's not our job to teach everyone we know about bitcoin, letting them know we own some "Let that be my job" he would say.

I see so many people that come around here sharing how much bitcoin they own...don't.  Just like any of your finances such as your portfolio or how much your annual salary is..it's no one's business but your own.  Being transparent about these things can be harmful to you in a multitude of ways.  As an advisor this is something I tell my clients all the time.  Your financial info is private and should always remain that way.  I hate these new social media trends where people walk up to strangers on the street and ask things like "how much do you pay in rent" or "how much money do you make a year"...ignore them!

I agree not to say in detail how much Bitcoin we have, just the big picture for example just an investment and nothing more. Because if you overexpose your Bitcoin holdings it will be very dangerous. Now, the increasing popularity of Bitcoin requires us to be able to maintain ownership properly and safely. For me Bitcoin is the main capital to achieve freedom of life and simply enjoy it myself. In social status and also in the business world, this kind of principle is also considered important, because successful people there always keep the capital that enables them to achieve success a secret, and let other people judge it in their own way. Bitcoin ownership is the same, Bitcoin ownership is secret but the output is for other people to judge for themselves.

[Emmanuelex]

You don't go around telling people you own Bitcoin, it's just like going around and telling people how much you have in your bank account and how much you have kept at home. Such information is something that's meant to be kept a secret. I don't tell my friends or anyone about how many bitcoins I own, there are other ways to show you're a Bitcoin enthusiast and it's not by telling them how much you own, but by sharing knowledge.

[lovesmayfamilis]

You can also add the expression that both fiat money and Bitcoin love silence. By talking about the amount of money in your wallet, you not only arouse envy, even if there is little in there, but also additional interest from those who can go to great lengths for money. People who do not know about Bitcoin sometimes have the misconception that if there is Bitcoin, then there must be a lot of it.
An example is the recent story in Thailand when robbers took cryptocurrency from a Russian couple. And as it turned out, these robbers were also citizens of Russia. Question: Maybe the couple was too open with stories about their savings?

https://coconuts.co/bangkok/news/russian-tourists-claim-robbed-us100000-worth-bitcoin-thailand/

[criptoevangelista]

You can also add the expression that both fiat money and Bitcoin love silence. By talking about the amount of money in your wallet, you not only arouse envy, even if there is little in there, but also additional interest from those who can go to great lengths for money. People who do not know about Bitcoin sometimes have the misconception that if there is Bitcoin, then there must be a lot of it.
An example is the recent story in Thailand when robbers took cryptocurrency from a Russian couple. And as it turned out, these robbers were also citizens of Russia. Question: Maybe the couple was too open with stories about their savings?

https://coconuts.co/bangkok/news/russian-tourists-claim-robbed-us100000-worth-bitcoin-thailand/

These people were possibly talking about this openly on social media, or even showing their private assets openly to the public. I've always been very afraid of exposing anything on these social networks, especially related to my family or achievements, there is always someone watching everything you do, including people with bad intentions.

thieves are always looking for victims, today they look for them remotely from anywhere in the world, just monitoring their lives online, we need to be very careful in what we decide to post to the public

[Z390]

To say the truth, I haven't seen anyone sharing the exact amount of Bitcoin that they own, the few I can find are those that are holding $100 worth of Bitcoin, and I guess that's why they even feel like sharing it, because the value isn't enough to put you in danger.

Mind you I can share the amount of Bitcoin that I own on here, there is nothing that links me to any form of identity, and I don't put my home address on any online platforms and websites, that's for this forum though, but it's sure dangerous to tell people in the real world about how much Bitcoin you have.

People can tell you that they have Bitcoin, but not the exact figure, it's left for you to think about it, maybe $10 worth or $100,000 worth of Bitcoin, there is no way to know, as a matter of fact, almost everyone on this forum has Bitcoin, the exact amount that each person have remains unknown.  

[DaveF]

Smart investors have never really told anyone how much they have of anything.
Full stop.

BTC / crypto / stocks / bonds / property. Unless there is a need to know it, other people should not know it.

Not even for the risk that may or may not be involved, but for best practices.

Something changes and you want to liquidate something privately for whatever reason and later someone casually asks you what happened to that stock you had in DaveF inc?
When for whatever reason you didn't want that fully out there since you got a job working for Dr.Bitcoin_Strange Inc. who is a competitor of DaveF Inc.

And although it did not happen to me, yes the above did happen to someone who I have known for 30+ years and yes it caused an uncomfortable conversation with management when they found out that she was selling stock in the company that hired her while accumulating stock in the competition. All because of a small casual conversation at a party.

-Dave

[Blitzboy]

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Many learn the hard way; I've seen financial transparency's risks. The comparison to not disclosing salary or portfolio size is accurate; they are personal expressions of our financial experience. As you correctly point out, social media trends blend private and public display, giving many a false sense of security.

I advise them to maintain their digital wallet as close as their actual wallet. Being transparent about financial holdings, especially in a volatile and targeted asset like Bitcoin, is risky. Your wisdom inspires people in the community to remember that in the information era, what we dont say has power.

[hd49728]

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

It comes from their own personal traits and characteristics. Some people always want to have private life and they don't mind to share personal information exclusively profit from investment or what they invest money in.

Some other people, in contrast, want to be recognized by the crowd and they share personal information that they believe can help them to be more recognizable, more famous. By this, they self-break their privacy and worse, can have danger in life.

I advise them to maintain their digital wallet as close as their actual wallet.

I don't really understand this advice that seems to be incorrect too.

Digital wallets can be custodial or non-custodial, open source or close source.

A good wallet to use is open source, non-custodial.

https://bitcoin.org/en/choose-your-wallet

[livingfree]

I couldn't agree more that it's not their business to know about how much we earn and how much Bitcoin we earn. And the same goes for them, it's not our business to know how much they have for the same things.

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Precise yet meaningful.

This is true that oversharing on social media can put you in danger. You'll never know that some of your friends have been stalking and monitoring your moves because you showing them money.

In their eyes, you're golden too but if you're just going to keep silent and remain low-key person that let things do on your own then you're loving your life to keep safe.

[yazher]

What their doing is just flexing everything including their salaries and overall assets and that includes cryptocurrencies as well. I have read lots of incidents where people have been terrorized because they have been transparent with the bitcoins they have in their wallet and they were victims of kidnapping and some serious cases which include threatening their families if they don't give the bitcoins to the suspects. We need to know why we have bitcoins as our personal assets and one of the main reasons is we are hiding our money and our identity at the same time without getting help from any 3rd parties which is included banks.

[Inwestour]

I've learned the dangers of oversharing online, especially about Bitcoin. Silence is golden.

Many learn the hard way; I've seen financial transparency's risks. The comparison to not disclosing salary or portfolio size is accurate; they are personal expressions of our financial experience. As you correctly point out, social media trends blend private and public display, giving many a false sense of security.

I advise them to maintain their digital wallet as close as their actual wallet. Being transparent about financial holdings, especially in a volatile and targeted asset like Bitcoin, is risky. Your wisdom inspires people in the community to remember that in the information era, what we dont say has power.

I know people who enjoy it when they talk about how much they earn. It seems to me that only life can teach them, they will do it until they suffer financially from it.

It’s not worth talking about the fact that you have Bitcoin, but there are examples of crypto bloggers who show their lives and are not shy about talking about their funds. This desire to show off their success often ends very badly for them, but instead of it becoming a lesson for others, people continue to think that it will not affect them.

[Zigabel]

Its wvey irrational and not making sense enough to share your portfolio without with others when you are not sure of the personality such person carries, sometimes even family shouldn't be trusted that much for informations such as that because some of these people may not have good intentions towards you but may want to pretend because they are family But they may have a bad motive towards you unknowingly to you.

Your Bitcoin portfolio should be something you keep private to yourself and make sure to protect every of the information except you have a trusted person you could share with just should Incase there will be need for those person in the future.

[Assface16678]

If someone is literally doing this thing, flexing stuff about bitcoin, or showing other people who don't have any idea or interest in what bitcoin is, then they are just shaming themselves or just bragging. If someone is listening to something that they don't know and you are talking about money-related things, they will have a conclusion or think that you are just showing off and bragging about what you have. Its not bad to share with others about your achievements, but out of nowhere or just suddenly saying that stuff is not appropriate. It's much better to be low-key when it comes to bitcoin stuff so that no one will be annoyed if they take an interest in it and keep nagging you about what they should do. It will be a hassle. It's not bad to help, but taking responsibility for them is not good, because, of course, you are the one who introduced and influenced them with crypro stuff.