DO NOT BRAG ABOUT YOUR BITCOIN

[strictly0nGod]

Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others. This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target. This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

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[Darker45]

While I agree that everybody should just keep to themselves how much Bitcoin they own, if somebody is held at gunpoint or at knifepoint, it doesn't anymore matter which wallet you're using, or whether it is multi-sig or not, or whether you have a copy of your seed phrase or some other backup. It's either your life or you cough up those information.

Perhaps it will help if your coins are stored in different wallets. If such a thing happens, God forbid, you will give the information of only one wallet.

[SickDayIn]

If you are held at gun or knife point for your bitcoin, it is because someone has found out you have bitcoin, another very important reason why you must never discuss it.

[OcTradism]

They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target.

Prevention is better than any cure, isn't it?

If you are fearful of physical attacks, don't reveal anyone that you are a Bitcoin investor.

Known physical Bitcoin attacks

This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin.

Multisig wallet will cost you more transaction fee. Don't use multisig wallet only because you think it is safer and you only have to use multisig wallet because you want to be known by others, that you are a Bitcoin investor. Keep your investment in secret is better.

Concurrently, your Bitcoin can be backed up.

What you back up is your Bitcoin private key, or your Bitcoin wallet mnemonic seed.

How to back up a seed phrase

[DabsPoorVersion]

Despite having this kind of reminders repeatedly over the years there are still a lot of people, especially those who are new to crypto that were recently being able to gain profit by investing in Bitcoin. Bragging it to other people is of their ways to show off and make other people see them as a successful person that should be followed.

This is one of my observations which can sometimes they use to take advantage of other people to gain more money, increase their followers, increase their referrals, and sometimes they even take a step forward of initiating a paid seminar just because they made a profit with their investment during the rally.

By doing this, they are forgetting the most important thing, to keep the information of their investment as their privacy. They don't imagine the risk involved of doing this because they are more focused on bragging and letting other people know that they are making money through Bitcoin.

[BALIK]

Despite having this kind of reminders repeatedly over the years there are still a lot of people, especially those who are new to crypto that were recently being able to gain profit by investing in Bitcoin. Bragging it to other people is of their ways to show off and make other people see them as a successful person that should be followed.

This is one of my observations which can sometimes they use to take advantage of other people to gain more money, increase their followers, increase their referrals, and sometimes they even take a step forward of initiating a paid seminar just because they made a profit with their investment during the rally.

By doing this, they are forgetting the most important thing, to keep the information of their investment as their privacy. They don't imagine the risk involved of doing this because they are more focused on bragging and letting other people know that they are making money through Bitcoin.

Even though I don't like this, I won't deny that people who brag about their bitcoin investments on social media are making a lot of money and they have been living peacefully for many years. This depends on each country's security, not everyone will be in danger if we brag about our investments with the aim of making more money. There are many famous investors in my country who always brag and make extra money by bragging on social networks to call people to join their group. But the interesting thing is that they still exist from 2017 until now and I guess they have made tens of millions of dollars or even more through their investments and they have attracted many people into thier group. 

[bobbybkk]

Despite having this kind of reminders repeatedly over the years there are still a lot of people, especially those who are new to crypto that were recently being able to gain profit by investing in Bitcoin. Bragging it to other people is of their ways to show off and make other people see them as a successful person that should be followed.

This is one of my observations which can sometimes they use to take advantage of other people to gain more money, increase their followers, increase their referrals, and sometimes they even take a step forward of initiating a paid seminar just because they made a profit with their investment during the rally.

By doing this, they are forgetting the most important thing, to keep the information of their investment as their privacy. They don't imagine the risk involved of doing this because they are more focused on bragging and letting other people know that they are making money through Bitcoin.

Even though I don't like this, I won't deny that people who brag about their bitcoin investments on social media are making a lot of money and they have been living peacefully for many years. This depends on each country's security, not everyone will be in danger if we brag about our investments with the aim of making more money. There are many famous investors in my country who always brag and make extra money by bragging on social networks to call people to join their group. But the interesting thing is that they still exist from 2017 until now and I guess they have made tens of millions of dollars or even more through their investments and they have attracted many people into thier group. 

If you like to brag about your Bitcoin wealth, maybe  just brag about 10 % of it. Then have a matching amount of Bitcoins in a dedicated wallet and the other 90 % in other wallets.

Advantage:

1) You can publicly brag as much as you want, maybe to attract some female company 

2) If bad things happen you lose only 10% of your holdings and can easily give it up when needed...

[Jawhead999]

This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin.

Let's say you create 2-3 multi sig wallet, if you leave 2 keys at the same place, they can steal your coins.

Another possibility, someone can attack you with $5 wrench attack.

In order to be fully safe you're need to shut your mouth and never link any of your activities to Bitcoin or cryptocurrency.

If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use.

Some wallets didn't use seed phrase i.e. Muun wallet, if you have Muun wallet's back up, you can't retrieve your coins in other wallets except Muun wallet.

[adaseb]

Yeah I already made the mistake of telling people about bitcoin in 2015 or so. And I never told them how much I bought but the problem was when the bull market of 2017 came, everyone assumed I was some crypto king. And they wanted money.

Or they wanted me to take their money and basically 10x it. Some guy needed like $50 K and he wanted to give me $5K so I can turn it into $50K by crypto trading. I obviously refused.

Hence don’t tell anyone about any crypto you own.

[Don Pedro Dinero]

Prevention is better than any cure, isn't it?

If you are fearful of physical attacks, don't reveal anyone that you are a Bitcoin investor.

Known physical Bitcoin attacks

Interesting website, the only thing is that I clicked on a couple of links to see the source and they are broken.

I agree that the best thing to do is to keep secret how much bitcoin you have and if you have a lot it is even more important. As for you can enter your home and threaten your physical integrity, if I had a lot of money in millions I would have HW in several places so that if they enter your home and you can kill you transfer them what you have there but that is only a part of your total bitcoin holdings. For modest amounts, being discreet is enough.

[albon]

Don’t share how much you have with others. This is yet another reason to use a multi-sig setup. [...]

We are less than a month away from the halving, so these tips came at an appropriate time, and although many topics refer to these tips, investors must be reminded again of the safety of their Bitcoin holdings. Truly, anyone bragging about the amount of Bitcoin can bring dire consequences. It may put him under legal scrutiny if he is in a country that prohibits crypto, and if someone with malicious intentions is listening, he might find a way to steal him. Therefore, I strongly agree with minimizing chatter in front of others regarding personal investments.

Also, multisig is a wonderful feature that I prefer to use through hardware wallets instead of desktop wallets. It perfectly protects the investor’s Bitcoin, as the percentage of his assets being compromised is very low. Still, the person must not lose the backups containing all the seed phrases of the wallets supporting multisignatures. These must be kept in very safe places and not be lost over time.

[JunaidAzizi]

Well, precautions are very necessary when we talk about the security of such an asset. Here most of the persons suggested spreading your BTC into multiple wallets so if such a situation can ever happen then you can just give one of them and the rest will be secure. If you can give at least one BTC it is also very workable but yeah the life of a person is much more important than a single BTC. So when all is talking about multiple wallets why someone is not focused to tell him that do not talk about your Bitcoin even to your loving ones if you want to secure your life as well as your BTC. I saw some people continue making the same mistake when they talk to their friends in a public place and talk about their assets like I don't know what the aim of this is. Are their asset increases by mentioning it to your friend or other people in the public place?

[Hatchy]

Even though I don't like this, I won't deny that people who brag about their bitcoin investments on social media are making a lot of money and they have been living peacefully for many years. This depends on each country's security, not everyone will be in danger if we brag about our investments with the aim of making more money. There are many famous investors in my country who always brag and make extra money by bragging on social networks to call people to join their group. But the interesting thing is that they still exist from 2017 until now and I guess they have made tens of millions of dollars or even more through their investments and they have attracted many people into thier group. 

Yes, they are indeed making cool money from their influence on social media, but they may also be targeted by numerous unknown individuals in real life. Most of these social media crypto stars lack a good understanding of how security truly works. They might know the basics, but unfortunately, a significant percentage of people who lose their funds are usually such individuals who lack proper knowledge on how to store their funds securely.

In some countries, they might be exposed to potential risks such as kidnapping and much more. It's crucial that as a Bitcoiner, you maintain your privacy and anonymity to avoid becoming a target. Additionally, I recently learned about passphrase security, where an extra word is added to your original seed phrase, creating hidden wallets for you. You can use different words with the same seed phrase, so if an attacker tries to obtain your seed phrase, you can provide them with a decoy seed while still being able to recover your real funds using the seed phrase plus passphrase. It's a really cool technique, but we shouldn't make our holdings known to everyone to avoid such risks.

[Sebas.tian]

Telling people around you about Bitcoin doesn't mean they will have access to your Bitcoin without your permission, and if you can flash back how you got to know Bitcoin, do you have access to the person that introduced you to Bitcoin? No. All you need to do, if  you want to spread the goodnews about Bitcoin to your family members or friends, don't show them your personal details and without them know your password and your seeds phrase, it will be difficult for them to touch your coins in your wallet. I think, many investors has sold their Bitcoin when the price hit $73,000 last month to make a passive income, and the market price is still struggling to hit back the price so that those who are still holding can use the opportunity to release their Bitcoin for sale.

[peter0425]

Many experts believe Bitcoin's surge to over $72,000 is just the beginning of its potential growth. Investors may also see this surge as a validation of Bitcoin's potential as a long-term store of value. It is important you do not brag about success. Don’t share how much you have with others.

I am for sure to not bragging to others but my wife and mother , because they are the two person that I ever trust in this world.

This should be obvious, but there are people that may not be so excited for you. They may tell their friends, and sooner or later someone who you don’t know, who may have the capacity for violence, may decide you are an appetizing target.

if you are doing this just to impress others then you deserve to be in violence , because we are investing for the future and not to make others down of your assets.

This is yet another reason to use a multi-sig setup. Even if someone obtained 1 of 3 keys, they cannot steal your Bitcoin. Concurrently, your Bitcoin can be backed up. If you lose your Bitcoin you can literally just magically get it back if you have back up, that's because your Bitcoin is stored on the blockchain. If you have a copy of your "seed phrase" you can regain access to all your Bitcoin no matter which wallet you use. Don't go blabbing your mouth to everyone about your Bitcoin stack.

thanks for the advises but we are using cold wallets to make it sure that our investments are in safer position.

[adultcrypto]

The main purpose of bitcoin is to achieve a peer-to-peer payment system with no middle person, this being  a recognition of the need for privacy and confidentiality. So I doubt people rarely brag about their bitcoin possession and those who do are definitely doing the wrong thing. The risk of such attitude far outweigh the benefits of the pride and expected respect that can possibly come out of it. There is also the risk factor associated with disclosing your bitcoin holding to the public.

[Assface16678]

Telling people around you about Bitcoin doesn't mean they will have access to your Bitcoin without your permission, and if you can flash back how you got to know Bitcoin, do you have access to the person that introduced you to Bitcoin? No. All you need to do, if  you want to spread the goodnews about Bitcoin to your family members or friends, don't show them your personal details and without them know your password and your seeds phrase, it will be difficult for them to touch your coins in your wallet. I think, many investors has sold their Bitcoin when the price hit $73,000 last month to make a passive income, and the market price is still struggling to hit back the price so that those who are still holding can use the opportunity to release their Bitcoin for sale.

True, but the most efficient and peaceful way of living while you are doing and enjoying the benefits of bitcoin, is to stay lowkey, no matter what other's will say about bitcoin or no matter how other people can flex their earnings in bitcoin its better to stay low profile so no one will bother you and also you will keep your assets safe, because a little information can be used and used as advantage to hacked you or steal anything from you, especially in social media, many with malicious intents are scattered in social media gathering and using the information's they are getting there so if you really want to be safe then don't flex or share anything about bitcoin in your social medias or anything in internet. That's how I manage to be safe against hackers or people whose intention is to steal from you or take advantage of your information and use it to scam you.

[reagansimms]

The only reason Satoshi chose to be anonymous was because he did not want his safety to be threatened by people who were capable of committing violence over his success in creating Bitcoin which is now starting to be considered the toughest rival to fiat money. Telling friends about your Bitcoin ownership will reduce your level of safety and also the Bitcoin you own, friends could betray you if they are in financial trouble.

When you are under threat with two choices: life or Bitcoin, you cannot avoid it and will hand over Bitcoin for the safety of your life. It would be better if you store Bitcoins in a different wallet and keep a copy of the phrase or other backup safely, and when you have a number of assets that can cause other people's evil intentions, never tell anyone about the assets you own.

[taufik123]

Your assets and swallows are privacy that needs to be maintained, after all, why should you tell the value of assets owned to friends or others.
Wanting to brag about success with Bitcoin to get them interested, I'm not even happy with that kind of chatter.

Very boring when someone asks how you can get bitcoins, how can you get a lot of money with Bitcoin and such.
It will just waste my time without any benefit.

If you are an influencer and need more followers, then this kind of bragging is needed.
But not by publishing your main wallet, but just a number that shows how much crypto assets you have.

[Dr.Bitcoin_Strange]

Those who openly brag or disclose their Bitcoin investment information are just ignorant of Bitcoin security and privacy measures. Bitcoin is a private asset, and although all transactions can be traced and seen on the blockchain, not every transaction on the blockchain can be traced to the actual individuals who carried out the transaction or owners of those Bitcoin. I remember last year, a user on this forum created a thread about a kidnapping case, and the kidnappers asked the victim to pay his ransom in Bitcoin, and that was because they were already aware that the victim was a Bitcoin investor. That incident suggests that those kidnappers have inside information about the Bitcoin holdings of that victim, and it must have been something he caused himself. 

Bitcoiners ought to be extremely careful with whom they share their investment information, because if they give out such vital information to the wrong person, they will have themselves to blame because it can ravage their security and privacy and lead to lose of asset.