DO NOT BRAG ABOUT YOUR BITCOIN

[Mpamaegbu]

It is important you do not brag about success. Don’t share how much you have with others.

Nobody keeps secret forever. There's always that one person we find a way to confide in. There's always that person who shares our dreams, foresight and aspiration. However, while talking about our success we should be mindful not to reveal all. Keep your jokers to yourself.

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.

That's the reason we should be mindful of those we share information with. Like you said at the end of your post, don't go babbling.

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.

That makes the two of us 🧐. In fact, someone recently addressed me as a crypto lord simply because he was one of those I told about Bitcoin when I newly got into this industry in my exuberance to introduce them to financial independence. It sounded weird to me because the person he addressed as a crypto lord isn't even a shrimp. I'm less of a crayfish.

[ultrloa]

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.

We should never brag anything about it nor tell that we have a lot of bitcoin since we might be at risky situation especially those people we told about it are criminal minded individual. So we should never think about doing it since we cannot get anything in return for doing that.

Much better if we keep silent on everything we do on cryptocurrency scene since nothing more better if we can sleep nicely at night without worrying anything danger that might happen to us. Simple bragging cannot give us any benefits so much better if we shut our mouth on this since sometimes some people may intercept our next move especially if we told them what is the next action we do.

[btc78]

This is such a social dilemma. On one hand, you would want to share your success to others especially to friends and family who may be suffering also and in need of something to help. On the other hand, you need to think of yourself and keep yourself safe. It’s not bad to safe so it is ok to be a little suspicious of others sometimes.

Even when talking to other people about crypto, I never say how much bitcoin I own or if I even own any. That is something that is none of their business as much as their coin is not mine.

[Baki202]

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?

After everything is put in place, the security of your asset needs to be given a high priority because if you do not take it seriously then there is a high chance that you might lose your asset starting from keeping your seed phrase safe and away from online, and very good idea splitting your assets never taught of that, in this business you just have to learn to use your head or they will use it for you and if not that someone is close to me I don't buy the idea of disclosing my assets, because you can become a target.

The value of life is more than anything and you will always get another opportunity to be able to get more assets because the process of trying to resist they might just want to cause you harm since splinting is already suggested.  you won't lose when you find yourself in that situation.  I don't think have heard of anyone being rubbed physically for their Bitcoin so it's either they got hacked or manipulated but if it happens we have to be prepared.

[michellee]

Owning Bitcoin means you must take full responsibility for it. You can't say it to many people because you don't know who is sincere towards you. By storing your Bitcoins carefully, you have protected your Bitcoins from bad people who want to steal them.

Currently, the price of Bitcoin can make people curious and want to own it. Store your Bitcoins in a place completely protected from people you don't trust. Divide your Bitcoins between several wallets and store them in a safe place.

There are many ways you can use to store Bitcoin. The important thing is that you don't tell many people you have Bitcoin. That is your secret that you must guard well.

[Zlantann]

Don't go blabbing your mouth to everyone about your Bitcoin stack.

This advic is not just for Bitcoin owners or hodlers but in all aspects of people's financial life. There is no need telling people how much you own because you will be simple calling for unnecessary attention. I prefer to live a simple life that is why I chose Bitcoin because it can hide your worth to a large extent. Bankers know how much you are worth, so banks cannot maintain privacy, but Bitcoin is different because you own the bank.

Pride and loquaciousness are some of the reason why people carelessness reveal what they own. It is now common for people to flaunt wealth on social media because they want to gain accolades. People can now be track easily through the social media because they cheaply give out vital information on these platforms.

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.

This is exactly the same mindset most people have about cryptocurrencies especially Bitcoin in my location. They just assume that anyone who owns Bitcoin is automatically a millionaire. Many of them are not aware that Bitcoin can be bought in bits so they just think you own one Bitcoin and above. I have introduced some persons to Bitcoin but they will never know how much I own because humans are unpredictable.

[Outhue]

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.

I will take this as a good enough advice but saying that you are a Bitcoin investor is different to saying that you have 100 Bitcoin in your wallet, everyone is a bitcoin investor in my country but wait till you see the balance, even someone with $20 Bitcoin counted himself as a investor.

It is only those who made mention of their worth that will likely face a problem, its just like having money, everyone has money, but there are levels of money that draw attention, so let's say that everyone has Bitcoin but the amount they have is all that matters.

To tell the truth, I have never seen anyone saying that they have a certain amount of Bitcoin, even $5 in Bitcoin is still Bitcoin, this keeps them safe, but the moment you let the world know that you have 2 BTC upward you are inviting dangers to your door step, like I've said its rare, I've never seen anyone exposing the amount they actually own.

[Rruchi man]

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. 

There are many things that you shouldn't speak about, things that you should keep privately to yourself, like the exact amount of bitcoin or a suggestion of how many bitcoins that you own.

Leaving suggestions of the amount of bitcoins you own can make you a target for whichever of the people you call friends and entertain or even family members to prey on, and you may never know until your bitcoins are gone.

Tell people about bitcoins, but don't over share and leave suggestions of how much you have been able to accumulate.

[sokani]

As a crypto investor, you should be discreet with your investment to avoid attracting unnecessary attention to yourself because not everyone that smiles with you have your best intentions.

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

I hope you know that creating a multisig wallet and having all the keys to yourself or at one location does not make your Bitcoin safe? As a matter of fact it's goes against everything that multisig wallet stands for.

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.

I believe you wanted to write device. And yes, it's advisable to have multiple backups of our seed phrase in different locations incase your device is lost or stolen, you can still lay claim to your Bitcoin.

[EluguHcman]

OP, while I agree with you that it is risky for a Bitcoin investor or a Bitcoin holder to expose his/her assets worth to some trusted friends, it can also be extended meaning the good testimony of yourself you think it was worth sharing amongst you and your friends would not only remain between you as a friendly or family hoods but would be extended from person to person and on that note, someone that might even be related to you might have that evil mindset towards you and not even the primary persons you formally exposed yourself to that would have you for a treasury hunt.

But talking about how you can recover your stolen Bitcoin through which you loose guarded with your seed phrases is worth in doubt about.
I dearly disagrees that a lost fund can be recovered at the basic of you recovering your lost seed phrases again.
What I am sure of is that on a case like this, you can only regain access to your Wallet.

And moreover, Bitcoin does not have a backup phrase instead the blockchain which it is stored as a wallet does. The only option to regain your lost Bitcoin is either by trace through an authorized securities in the blockchain which takes processes and basically not on the track of implying recovery of your seed phrases.

[Z-tight]

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.  

You have got things wrong here, if your device is compromised or your backup exposed and you lose your funds, you cannot get it back with your seed phrase, because the attacker is going to send the funds into their own wallet. Yes, BTC is stored on the blockchain and whoever has access to the seed phrase can spend the coins.

This is yet another reason to use a multi-sig setup.

Multisig set up is a good extra layer of security, but you have to know exactly what you are doing, i.e. some people set up a multisig wallet in a single device, and this defeats its main purpose. A passphrase is also a good extra layer of security and it is great for plausible deniability.

[DeathAngel]

It is a good idea not to openly discuss or flaunt your wealth to others. It helps protect your privacy & security, reducing the risk of becoming a target for theft or scams. It stops jealousy & potential strain in relationships. Also it allows you to focus on genuine connections & meaningful interactions rather than being defined by your financial status.

[naira]

To be honest, I've been considering a case like this for quite some time, because even though I've never told anyone about owning Bitcoin, information can easily spread by word of mouth and we can't prevent it. Therefore, there are several alternatives where I have to divide my holdings into several wallets and several devices. So this can give me enough time to avoid losing all the assets I have. I'm not going to put it in a 1 container that if I lose it will rob me of everything I own. The risk of distributing assets is also the same, but when compared with the risk in one basket, the first option can still save me from threats, indeed someone has to be sacrificed if an undesirable event occurs, be it a robbery or an accident.

May God always protect me!

[Aanuoluwatofunmi]

Don't go blabbing your mouth to everyone about your Bitcoin stack.

We should learn on being reserved with what we have invested on bitcoin, its not by force that we should keep announcing ourselves to the world or claiming that we are having a particular rate of investment on bitcoin, we don't need to brag because we are not impressing anyone, instead, doing such could put us more in danger, many have invested in bitcoin because they needed to retain and have their financial privacy back from centralized institutions and government, it will not make any tangible efforts or benefits on us if we go public with what we are up to in bitcoin.

[kentrolla]

Agreed, we should never disclose our holdings or even say we have holding huge chunk and I rather prefer a very low profile when it comes to Bitcoin and don't even jump into conversations when people discuss about Bitcoin in real life as we will be the easiest target if someone happens to figure out we had Bitcoins and at gun or knife point there is no way one can get out without coughing up the information. It's advisable not to boast about your Bitcoin or any crypto holding with others as there may be third person observing it.

[Alana Arden]

Bragging about Bitcoin means increasing your risk or bringing your own danger. Because there is nothing to be proud of. So don't make the mistake of telling anyone about your own crypto. You are not allowed to reveal how many bitcoins you have in storage. It is most important to keep it secret. Because it helps protect your privacy and security. It also reduces the risk of theft or fraud. Because if someone knows the amount of bitcoin you have, they can track you. To access your wallet or your user to track the wallet or your system. This is why I consider it safe to store BTC in multiple wallets. Although MultiSig is a really great feature that protects an investor's Bitcoin perfectly,.
However, if I'm not mistaken, CitBitCty made a thread on a somewhat similar topic a few days ago. https://bitcointalk.org/index.php?topic=5485048.msg63658943#msg63658943

[LogitechMouse]

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.

When I start to re-accumulate Bitcoins again during the bear market after this bull run, I will do this one. TBH, I'm storing all of my Bitcoins on one wallet only, and I know, I know it's risky to store all of my Bitcoins in one wallet only, but I already made sure that no one knows where I'm storing it. After all, I'm the only one in our community that's involved into crypto, so they don't know how to steal it.

Re: DO NOT BRAG ABOUT YOUR BITCOIN

I don't see any benefit of bragging the amount of Bitcoins that you're holding to other people.
No benefits. Just pure risk. Risking your security for the sake of what?

I mean there's no reason at least for me to brag that I'm holding X amount of Bitcoin. I might say that I'm holding some Bitcoin, but I will not tell the amount, and I will teach them how to invest into Bitcoin instead of bragging.

[Lucius]

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.
~snip~

That's a bad idea, because no matter how much you think you'll get away with giving someone only 10%, what will happen if that person/s decides to check if you're telling the truth or maybe you're lying? There is a very painful game that no one would like to try on themselves - it's called "this finger goes in..." and considering that most of us have 20 fingers in total, the game can be very painful and long-lasting.

A piece of advice sometimes even worth your life - don't brag about your wealth, unless you're a popular showbiz person who lives under protection 24 hours a day.

[Maus0728]

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.

If that's really the case that someone's going to ask that from you at a stick up, then it's going to be easy for you to pinpoint who's taking shots at your bitcoin stash, this only works when you're quite about your bitcoin investments though so keep that in mind. Now, as I've just said, it's going to be logical to think that these thieves/muggers are after your bitcoin because someone's paid them to do so, that's the only reason and most of the time, muggers want quick cash and most of them are on the room temperature IQ so holding a bitcoin hodler at gunpoint isn't really their best option so yes, give it up when they ask for it but in the case that you'll survive that traumatic encounter, it's probably for the best that you start doing some investigations, people that have this diabolic intentions are stupid to some level anyway so a little bit of tracking in the blockchain of your stolen funds, you'd be able to find out who's the person behind.

[pawanjain]

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.

Lol, that is true. Having coins stored in different wallets can help decrease the losses from theft.
But if I have a multi sig wallet with 2/3 sigs and if we tell the thief that the rest of the 2 keys are at different places.
And that we have to go there in person to retrieve the key then don't you think the thief will get frustrated and leave the place ?
Or may be he will just kill us and leave