STOP telling people how much Bitcoin you have

[fruktik]

Of course no outsider will know how much bitcoins I have in my wallet except me and my family. Kidnapping is more likely, especially if outsiders know. But one thing is very important if family members know about bitcoins in my wallet then in case of any accident my family members can easily retrieve my left bitcoins and spend them in future for family needs.

How lucky you are in that regard. Personally, I don't have any relatives who know anything about it at all. So there is no way they can get my Bitcoins if something happens to me. I have already thought about solving this problem more than once, but I have not come to any compromise option. It's not that simple. I have a lot to think about. I've been thinking about it for months now. )

[1714695672]

1714695672

[justdimin]

Every subject has some privacy which should not be open to everyone and if there is a possibility of danger if privacy is open to everyone then it becomes mandatory to protect that privacy. Bitcoin is one of those privacy because it is becoming so popular and expensive day by day that anyone can steal or rob these bitcoins.Privacy should not be open to anyone. Sometimes heinous crimes like hijacking, kidnapping and murder are heard to be organized for Bitcoin. Kidnapping ransoms are often demanded in Bitcoins and in some cases the investor has even been killed for these Bitcoins. However, all Bitcoin investors must protect their Bitcoin privacy if they do not.There may be major unforeseen events in the future.

It's not just about Bitcoin, but all sorts of things that have great value should be kept private and one shouldn't keep telling every other person that they own a certain thing that is extremely valuable because you never know who is trustworthy and sincere with you and who isn't because we live in a world where money is everything since wealth brings power and power is what everyone wants in the world today.

That's why, any person, poor or rich, should be careful about what they are saying when they are in public or even when they are surrounded by people that may know them. You can't even trust your family members apart from your mother which is probably the most sincere and honest relation one can have.

[shield132]

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!

Blockchain is an open book and if you use one address to receive payments, especially a vanity address, it's becoming hard to hide the number of bitcoins that you own or at least you owned. Btw it's not a good idea to speak the number of your coins in public but some people try to flex and say that they own some of them. I think that flexing is more dangerous. By the way, if you own 2, 3 and more bitcoins and are rich, you can't hide it or if you try to hide, then I don't understand what's the point of such wealth.
Btw I agree with you on the educational part, it's not necessary to enlighten everyone about Bitcoin. I have tried to do that and their response most of the time was that it's a scam, a pyramid and it will fall soon, they were saying that Bitcoin is used for illegal activities and etc. There is no point in arguing with these people, they will always close their eye on what's true with Bitcoin, they believe in lies that government tells them.

[franky1]

the main thing i notice is when people try to show off their hoard and try to win friends by trusting people.. ends up with their so called friends tricking them into scams and schemes to syphon funds from them, both in crypto and with fiat

i see many people play suck-up and trust people and later cry victim. that they lost their funds

never use money as a reason for friendship. dont trust people you cant touch with your financial information and dont ever trust anyones scheme they talk you into using if you cant then slap them with a rotten fish if they wrong you

.
i do admit i have a hoard. but never reveal the yield amount nor the addresses its on.. i also dont kiss ass or play trust games.. my inbox never gets scammer emotional mail of people trying to be friendly trying to talk me into their next big deal and i would never try to get involved if i did get any.. they are obvious emotional trap scams..

dont blindly trust people you cant slap with your bare hand

[Antotena]

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.

For people who don't know Andreas, he used to be one of us in this Bitcointalk in the early days, here is his profile Andreas. He has written many books about Bitcoin like mastering Bitcoin, Lightening Network and Mastering Ethereum, he is a legend on forum and outside forum, I remember he wanted to even help moderated some boards here, he has voluntary done a lots for Bitcoin.

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!

What people don't know, they can't hurt you with it and this is where privacy comes into play. Keep shut about your coins, not your friends nor your immediate family because people betray people when money is involved, we have seen friends poison eachother because of money and we have seen family stab one another because of money, not a good idea to tell people about bitcoin as it will make you a open and vulnerable, not just about Bitcoin but your finances should be hidden from people.

[hZti]

Thank god we all have a free will and can choose to tell or not tell basically anything we like. I feel that it is false to tell people they are not allowed to tell how much coins they have. If you are happy to share what you have then it is your decision. Usually people do post like "I bough my first 50 USD worth of bitcoin" wich is nothing bad and will not hurt you at all.
Stilll it is not wise to make everything you do transparent.

[Bd officer]

If you want to keep yourself safe, you should not tell people not only about Bitcoin but also about other assets. There are many friends who will try to harm you after seeing your success.

However, I don't tell people how much bitcoin I have. No one knows that I have invested in Bitcoin, my parents know but not how much I have invested. But taught my wife about Bitcoin. Told my wife not to tell anyone about bitcoin. I have not shared the wallet privacy with anyone, keeping it to myself.

[Bloodseekers]

Of course no outsider will know how much bitcoins I have in my wallet except me and my family. Kidnapping is more likely, especially if outsiders know. But one thing is very important if family members know about bitcoins in my wallet then in case of any accident my family members can easily retrieve my left bitcoins and spend them in future for family needs.

How lucky you are in that regard. Personally, I don't have any relatives who know anything about it at all. So there is no way they can get my Bitcoins if something happens to me. I have already thought about solving this problem more than once, but I have not come to any compromise option. It's not that simple. I have a lot to think about. I've been thinking about it for months now. )

Yes, it would be very good if there was someone we could entrust when we save Bitcoins, because if something happens to us then they can use it for their needs and most importantly they don't betray us by telling them the amount of Bitcoins we have been able to collect. If you haven't found someone you can trust to save your Bitcoins, it's better to save it yourself first until someone finds someone you can trust so it doesn't cause you any losses.

[LesterD]

Thank god we all have a free will and can choose to tell or not tell basically anything we like. I feel that it is false to tell people they are not allowed to tell how much coins they have. If you are happy to share what you have then it is your decision. Usually people do post like "I bough my first 50 USD worth of bitcoin" wich is nothing bad and will not hurt you at all.
Stilll it is not wise to make everything you do transparent.

Merely having free will or not is not a sufficient justification for discussing this topic. The level of investment you have made in Bitcoin is equivalent to any other form of investment and thus should be treated as private information. Such details are not meant to be disclosed without careful consideration. Ensuring confidentiality is of utmost importance in such situations.

[gunhell16]

That question is actually not correct, because if someone answers that question, it means that he is not sensitive to such a question. Think of it as if you are saying how much net amount of assets you have, and this is a signal that you are giving a reason for other people to do bad things to you who take advantage to do bad things to others.

Therefore, it is a great stupidity to answer such questions. Unless it's a big company or well-known in the business industry, if it's an individual, that's not really right for me.
Probably, if we change the question that could help more to other that is much better I think.

[Distinctin]

What op have shared is something I believe have been discussed here multiple time, well, I don't know how many, but atleast, I still remember coming across, and even commenting on same topics or subjects as this, a multiple time on this board.

Anyways, I completely agree with what is being discussed, it is always wrong to let people (both the ones we know, and ones we don't know personally) know how much bitcoin we own, and this rule is not peculiar to bitcoin alone, it is a rule we have to apply to our finance in general, the world have gone far from what it used to be in terms of safety, no one can be trusted even a sibling, letting people know how much bitcoin we own could also mean we selling ourself out, it's a very risky and dangerous thing to do honestly.

Absolutely. I don’t know but as long as money is involved, it’s like no one can be trustworthy of that as even your closest sibling or even your best of friends may plan on attacking you behind your back.  Bitcoin is not an exception as it’s even more than your fiat’s value in your bank account. If you want to pursue your investment and live your life safely and privately, hence never share what you have in your investment portfolio because people will surely not be pleased to hear that.

Sometimes, your success may be their greatest downfall. So be careful on sharing to them. You don’t know what they’re thinking when you start disclosing your plans. Most particularly when it comes to bitcoin, it’s better to deal on it anonymously.

[spiker777]

the main thing i notice is when people try to show off their hoard and try to win friends by trusting people.. ends up with their so called friends tricking them into scams and schemes to syphon funds from them, both in crypto and with fiat

i see many people play suck-up and trust people and later cry victim. that they lost their funds

Exactly, that's a common problem among a lot of people who either have become rich all of a sudden or those who have inherited wealth from their ancestors, and people who fly in the sky often have to taste the dust at the end of the day. That's why, people that show off everywhere about how much money and assets they have become easy targets for those sly scammers who are always looking for people that they can fool.

What's amusing is such people are often easily vulnerable to such things because they don't know anything at all, if you sit beside them and give them a couple of compliments, they will start feeling great and you can easily get a friendship offer if you try a little harder, this is exactly how they get scammed every time.

[EarnOnVictor]

Of course no outsider will know how much bitcoins I have in my wallet except me and my family. Kidnapping is more likely, especially if outsiders know. But one thing is very important if family members know about bitcoins in my wallet then in case of any accident my family members can easily retrieve my left bitcoins and spend them in future for family needs.

How lucky you are in that regard. Personally, I don't have any relatives who know anything about it at all. So there is no way they can get my Bitcoins if something happens to me. I have already thought about solving this problem more than once, but I have not come to any compromise option. It's not that simple. I have a lot to think about. I've been thinking about it for months now. )

Do you mean you wanted to solve the problem of transferring the ownership of your coin in case of unforeseen circumstances? This is not new here and is never a big deal as well. Many have lost their cryptocurrencies due to unforeseen circumstances, and their family members are not even able to have access to them. If it is your plan to avoid it, you can plan more on it, you should just come up with a cogent idea and you will be fine. But you have to still be very careful in this regard, it is not every family member you can trust. In some cases, not one's wife, children and relatives you can fully trust, so extreme caution is involved here. This is also the gist the OP is trying to pass across in this thread, it is not limited to your friends alone.

There have been cases where spouses and family members are the devils and betrayals, and there are situations where it is the friends. It can be any of them in anyone's cause, and that is why they call it "betrayal," something you least expect. So be wise. I've resolved to always update my assets in my Will, the crypto asset is included as well, and it is in such ways that some access will be with my lawyer in the Will document, while the other access to make it completely accessible will be with my spouse/children. By that, if anything happens, they can solve the puzzle together instead of revealing my assets to them carelessly.

Perhaps, that's the way you let everyone gain access to your bank account with huge money or your life savings?

[Rufsilf]

You know, I read this issue on this forum a lot, perhaps more than any other, and I always keep coming back to it. Although you guys go by different titles, you both seem to be trying to advise people not to reveal how much bitcoin they hold to just anybody.
 
I believe that certain people are displaying their riches or bitcoin holdings in order to show their financial status or investment ability. I mean, it may be a way to get approval or affirmation from other people. Perhaps they are proud and want to brag to others, which is one of the reasons they want to tell everyone how much money they make. People tend to think that if you spend a lot of money on anything, it indicates that you are financially capable and that you have succeeded as a result. Perhaps this will encourage other people to invest and check whether it is legit or not.

[Ale88]

My favorite go-to line when asked about my bitcoin, goes like this:

them: "how many bitcoin do you have?"
me: "how much money do you have in your bank account?"

and then and there it'll click in their heads. I've heard this answer on a podcast/interview in the past, I think it was Erik Voorhees? Not sure.

I think that probably just at that moment they realize that we are talking about personal things, that shouldn't be shared with people. In a certain way I can also understand why some people ask this kind of questions: if you're not into bitcoin probably you don't take it seriously and you struggle to understand that it's money, so it's private.

[lalabotax]

If you want to keep yourself safe, you should not tell people not only about Bitcoin but also about other assets. There are many friends who will try to harm you after seeing your success.

However, I don't tell people how much bitcoin I have. No one knows that I have invested in Bitcoin, my parents know but not how much I have invested. But taught my wife about Bitcoin. Told my wife not to tell anyone about bitcoin. I have not shared the wallet privacy with anyone, keeping it to myself.

Of course, keeping the secret about our assets is a must if we want to be safe in crypto investment. When people know our assets, they may think negatively and may plan something badly. This is probably threaten the security of our assets. And this is also possibly dangerous for ourselves. Even if it is our friends, they also may have the desire to rob our assets.

It is a good way to keep hiding your Bitcoin. People don't need to know about our Bitcoin. There is no advantage that we share the information about our Bitcoin to others. If we want someone to know it, we just share the information to the very close people (wife, children, parents). The secret data about the Bitcoin shouldn't be easy to share to others.

[barto123]

yes agree, however if you haven't bought all your BTC P2P in a private way (VPN, fake name, email etc), the government knows exactly how many BTC you bought (& they're the biggest criminals). Whilst they can't easily prove how much you have at any one point, as BTC is pseudonymous, it's no where near ideal. so I think this much more concerning than a $5 wrench attack.

[rexioderum]

I have none.

[CryptoHeadlineNews]

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.

Yes, it's true how dangerous it could be sharing how much money you own in Bitcoin to either family members or friends, and not just only Bitcoin in this aspect, but how much asset/finance you owned to third parties. Due to the fact how many have lost their lives sharing this details to the wrong whom they trusted, and as such, disguising oneself remains the best way to live long in this 21st century, just as Satoshi Nakamoto disguised himself (i.e the true creator of Bitcoin)

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!

Yes, I also agree with you on this to either work away when been approached by these content creators who goes about asking people "How much money they make yearly". But in a scenerio where you wish to play along the line, you could probably divide how much you make a year into half or quarter and tell those people that's how much you make, without telling the public the exact figure.

[$weetne$$]

People don't need to know about our Bitcoin. There is no advantage that we share the information about our Bitcoin to others. If we want someone to know it, we just share the information to the very close people (wife, children, parents). The secret data about the Bitcoin shouldn't be easy to share to others.

If you keep telling people about the Bitcoin that you're holding, one day the people you told about your Bitcoin will plan evil for you. People are looking at people that own Bitcoin as very rich individuals because of the way Bitcoin has been rising and being on the news for giving investors profits. You might just be investing in Bitcoin recently but as you tell you friends that you have Bitcoin they might think that you have being holding Bitcoin for a very long time and your have made big amount of profits. Don't tell anybody about your investment so you don't becomes a victim of attack. Keep holding your Bitcoin and only tell your family members that involves your wife and children so if your suddenly pass away they can get access to your investment and not suffering when you have money in your investment that's growing.