Can you declare your crypto asset to family members?

[Cryptoprincess101]

I'm responding to these base on the subject..the only way I can declare my bitcoin to my family members is the process whereby I'm not in good health condition, or my family have a challenge that will take the life of someone in my family, except that I can not declare my bitcoin to any of my family members, knowing that family problems doesn't come to an end as we may think, family problems is a continuous process that can never finish...so if I invest on Bitcoin I know very well that it will yield positively to me, and that's the reason why I invested on bitcoin, so my investment can not be a feast to my family unexpectedly.

I like your response to OP but even if you need to declare your asset in bitcoin as a result of health issues, it shouldn't be made known to your family members, there is a need for you to have one person among your family members that you can disclose deep secrets about your life or money to, because if you decide to tell your family members which is not your wife or your children about your asset in bitcoin when you are not in good health conditions, some bad family brothers can even find a way to make you reveal the security to your asset to them incase anything happens to you and you can take because of fear and reveal it to them while they will plan to terminate your life and claim your holdings.
         The world is very cruel now, if it is not your wife, your children or any other person that mean so much to you; there is no need revealing your holdings to your family members because it can even cause more problems or crises within them if anything happens to you in the end.

[libert19]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

Myself like to keep things to myself and do not like it when someone questions me. As such, I would take sides with the guy and find it okay that he doesn't feel right to share his holdings.

If you are independent, you owe no explanation to nobody. Heck, even if you were dependent, pay people their due and you still owe no explanation.

You know your relatives better, so you should be the only one to decide if a relative deserves trust, the chances of he/she telling it to anyone else, and if it's worth the risk.

There is wise saying: if you want to keep something secret, do not tell anybody about it, no matter how much you trust the entity, the moment secret has left the tongue, that very moment it stops being a secret.

[GeorgeJohn]

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I like your response to OP but even if you need to declare your asset in bitcoin as a result of health issues, it shouldn't be made known to your family members, there is a need for you to have one person among your family members that you can disclose deep secrets about your life or money to, because if you decide to tell your family members which is not your wife or your children about your asset in bitcoin when you are not in good health conditions, some bad family brothers can even find a way to make you reveal the security to your asset to them incase anything happens to you and you can take because of fear and reveal it to them while they will plan to terminate your life and claim your holdings.

Yeah, you're right, because I know very well that making your seed phrase or your key open to your family members, and if they see the worth of BTC or any other coin your wallet, they can contribute to your health to be worse unlike before....so we need to know the gravity of our illness before we can show off our wallet private keys to our families

         The world is very cruel now, if it is not your wife, your children or any other person that mean so much to you; there is no need revealing your holdings to your family members because it can even cause more problems or crises within them if anything happens to you in the end.

Your health status will determine if you will disclose your privacy to your siblings, including your children, the first person you should release your private key to, is your wife that have children for you, any other person is not trusted to know your private keys.

[Faisal2202]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

This is not a normal thing here in my place so I would never be in his shoes. Plus, I already declared to my parents and to my siblings how much I own, so in order to save him from declaring in front of everyone, he can declare the assets to his parents in private or to his siblings too if wanted to.

This is totally their family business I have no judgement to make, it can be easily solved because the person here is dealing with the family and if he doesn't feel comfortable, then only tell those whom he feels comfortable with, like parents or siblings. It is not a big deal as I said. Maybe the person in question holds more BTC than his brother's businesses and he fears that their relatives will think he is going to risk all that money in BTC and that is also a good consideration, therefore, he should show them something they want to see.

[Judith87403]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

This is not a normal thing here in my place so I would never be in his shoes. Plus, I already declared to my parents and to my siblings how much I own, so in order to save him from declaring in front of everyone, he can declare the assets to his parents in private or to his siblings too if wanted to.

This is totally their family business I have no judgement to make, it can be easily solved because the person here is dealing with the family and if he doesn't feel comfortable, then only tell those whom he feels comfortable with, like parents or siblings. It is not a big deal as I said. Maybe the person in question holds more BTC than his brother's businesses and he fears that their relatives will think he is going to risk all that money in BTC and that is also a good consideration, therefore, he should show them something they want to see.

One thing you should know is that everybody is not always the same, what if probably he ask those his extended family members to leave that he want to be left with his family alone, what is after declaring his crypto asset to his family maybe his family members still went ahead to review everything to those thier extended family what will you do?

 That is why in a situation like this you need to think twice, because it has to do with the extended family not your family alone. had it been is your family alone that would've been a different case, But since it involves the extended family of course safety precautions need to be taken because no one knows what will be thier intention probably after declaring your crypto asset to them.

[MusaPk]

I like your response to OP but even if you need to declare your asset in bitcoin as a result of health issues, it shouldn't be made known to your family members, there is a need for you to have one person among your family members that you can disclose deep secrets about your life or money to, because if you decide to tell your family members which is not your wife or your children about your asset in bitcoin when you are not in good health conditions, some bad family brothers can even find a way to make you reveal the security to your asset to them incase anything happens to you and you can take because of fear and reveal it to them while they will plan to terminate your life and claim your holdings.
         The world is very cruel now, if it is not your wife, your children or any other person that mean so much to you; there is no need revealing your holdings to your family members because it can even cause more problems or crises within them if anything happens to you in the end.

In Bitcoin, you have to tell your next of kin about your wallet and related stuff so that they can access them in case the owner is no more in this world. Those who made this mistake of not telling his/her next of kin about wallet private keys and how to access them, there all hard earned Bitcoins will lost on blockchain forever.
To OP question, I would agree that never reveal your Bitcoin assets to so many people, even if they are from your family. Just keep info of your Bitcoin to yourself and to your next of kin who you trust.

[CryptSafe]

I like that he did not declare his Bitcoin asset to them. Life is a personal race so everyone has the right to do whatever they feel like with their life. If one is not physically showing the results of what they are doing it is up to them to decide not a family affair. At least he told them he is saving that alone should tell his siblings to at least respect his decision not to declare his Bitcoin asset in the presence of other family members which could be a big threat and risk to his life. I wouldn't be surprised he might even be richer than his siblings who are agitating for him to declare his Bitcoin holdings for them to see which does not make sense security otherwise.

Possibly his siblings have no idea or knowledge about crypto and bitcoin hence they were moved to reach such a conclusion to compel him to declare his bitcoin holding in the presence of their extended family. If they were informed, they would not have made such a move because that move alone would exposed their entire family to danger in both ways and would have left them with regrets for their actions.

[Hyphen(-)]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

His crypto assets should be his personal wealth that he can chose not to share with anyone since no one can be trusted, and in this wicked world we are leaving now, anything can happen because many people can betray you and set you up especially if they see how huge your investment worth which is very dangerous.

He can even tell them the worth if they insist, but he should never share his key with anyone because he can’t trust anyone since they are all against him leaving his private life with his wealth.

[Renampun]

...

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

I would also do the same thing as that person, because it is a private matter, besides the ones who are wrong here are the other family members, why should they know the bitcoins that the person currently owns, do they want to show off or want to belittle the man!

As a sibling, we should not interfere too much in the affairs of other family members, because there are many types of people and many of them never want to share everything with other family members, help as needed but don't interfere in everything.

[tvplus006]

...He can even tell them the worth if they insist, but he should never share his key with anyone because he can’t trust anyone since they are all against him leaving his private life with his wealth.

In this case, if an accident happens to him, the bitcoins stored in the wallet will be lost forever. I think that if his family members can spend these bitcoins on their needs, they will be preferable to losing them.

[CryptSafe]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

His crypto assets should be his personal wealth that he can chose not to share with anyone since no one can be trusted, and in this wicked world we are leaving now, anything can happen because many people can betray you and set you up especially if they see how huge your investment worth which is very dangerous.

He can even tell them the worth if they insist, but he should never share his key with anyone because he can’t trust anyone since they are all against him leaving his private life with his wealth.

Truly anything can happen if one makes the mistake of sharing or declaring their crypto assets carelessly. I believe from the story, that he never made such a mistake of doing such because that might just be the end for him as he would not have been safe if he had done such. Looking at it this way, his siblings did not declare their assets so why should they want him to do such putting his life at risk? what if he does that and they discover that he is wealthier than them, do you not think it would raise jealousy in the family amongst siblings which would result in something else if they are not that united and cooperative?

His right to keep his asset to himself is his fundamental right which he owes nobody any explanations, it is his own personal wealth and nobody should have intefered into it by telling him to declare it in the presence of their extended family.

[Justbillywitt]

He owes nobody no fucking explanation. I will do the same thing if I were in his shoes. Provided he is not depending on anyone for his needs and he fends for himself, he shouldn't declare anything to no one. The best thing he can do is tell them that he is fine, that nobody should worry about him. Those his family members are looking for ways to start extorting money from him. And with the way the world is right now you don't have to trust anyone. If I was the young Man, I will pack out of the house if we are living together in a family house and go elsewhere where I will have my sanity, and privacy. Like what sense does it make, if I'm not asking you for anything, and you expect me to declare my assets to you. Why will I tell you how much worth of bitcoin I have. Anyone that wants to get angry should do I don't care. The moment he tells them, they will expect him to solve all their problems with the money. Let him keep that to himself.

[Princess Leah]

This is why it's good not to store all your bitcoin in one wallet. It's better to use two wallets, you keep the large amount in a seperate wallet like a cold storage and keep some amount in your online wallet, so that when such thing happens like this, you can show them your online wallet.

It's not advisable to declare all your bitcoin hodlings to anyone by force be it your family members. What of those his brothers that are into physical earnings, did they declare all their asset and funds in the bank to the family?

I think he owes them no explanation, even as his family, it's not their business how he spends his money especially when they didn't secure the job for him, the family are just ignorant about Bitcoin investment cause if they were, they should know that Bitcoin as an asset is held for long-term to bring more profits in the future and not something that would get one rich immediately.

 I'm really suspicious of his family members cause why would they even be forcing him to declare his assets, the man was very wise enough not to do so and if I were in his shoes I'll relocate to another town for a while so they won't plot against him and force him to declare it on gun point, I said so since they're forcing him against his wish to declare his assets.

[Obim34]

He owes nobody no fucking explanation. I will do the same thing if I were in his shoes. Provided he is not depending on anyone for his needs and he fends for himself, he shouldn't declare anything to no one. The best thing he can do is tell them that he is fine, that nobody should worry about him. Those his family members are looking for ways to start extorting money from him. And with the way the world is right now you don't have to trust anyone. If I was the young Man, I will pack out of the house if we are living together in a family house and go elsewhere where I will have my sanity, and privacy. Like what sense does it make, if I'm not asking you for anything, and you expect me to declare my assets to you. Why will I tell you how much worth of bitcoin I have. Anyone that wants to get angry should do I don't care. The moment he tells them, they will expect him to solve all their problems with the money. Let him keep that to himself.

Yes, there is always love and care from family but i also know about laying boundaries. Who knows how old this friend maybe, but an adult like me in his shoes, sensing the presence of related families involved in a discussion that best could be just within the nuclear household, my presence will never be felt in the meeting.

If he denies offering his portfolio for check due to security reasons, the moment he agrees during the meeting to hold Bitcoin anybody even the close relations can inflict suspicion of having too much, anyone can draft a way to steal or apprehend him casually.

[2Pizza410000BTC]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

You have to protect your privacy and you should never reveal your privacy to people. My family knows that I work in Bitcoin and earn Bitcoin, but my family has never forced me to tell anything. My family is very happy with my earnings, they always say that what I think is good for them is also good. However, I will say that the OP whose story is published here should have protected his own privacy. He should have kept the Bitcoin in his Bitcoin wallet secret and created another account, moved some Bitcoin there and showed that Bitcoin wallet to his family. And I do not support the family forcing him to see his wallet like this.

[suzanne5223]

Although some of his family members want the person in the subject to achieve some good in life but declaring one crypto portfolio to people including family members is never a good idea because we have different sets of people.
Some people want us to achieve great things in life but they never want us to surpass the achievement/success and when there jealous of his portfolio within his family he is no longer safe whenever he is with family members. Therefore, your friend did the right by keeping his crypto portfolio value to himself.
I just hope he can do something with his girlfriend because guys easily tell their girlfriends what they ought to keep secret after some good loving. 

[avp2306]

If you were in his shoes, can you declare your crypto asset to your family? Or do you think he should have declared it to them after the extended family members must have left and even if he did, the information can still leak to the extended family and from there it can escalate to other people. What opinion do you have to give in this situation?

You have to protect your privacy and you should never reveal your privacy to people. My family knows that I work in Bitcoin and earn Bitcoin, but my family has never forced me to tell anything. My family is very happy with my earnings, they always say that what I think is good for them is also good. However, I will say that the OP whose story is published here should have protected his own privacy. He should have kept the Bitcoin in his Bitcoin wallet secret and created another account, moved some Bitcoin there and showed that Bitcoin wallet to his family. And I do not support the family forcing him to see his wallet like this.

That's the least thing they should know since its important that we keep it a secret on how much we earn from dealing with crypto. Telling how much you earn is I think excessive already and some of our family members might get tempted to ask or do bad things especially if they know there's good amount come to us by doing crypto things online.

We should keep it a secret and better yet just remain low key and don't flaunt our earnings with them. Privacy should be there and just leave a reminder that if something bad happen we have crypto stored in our wallets.

Also so bad to see if there's forcing situation happen since I think that's bad action to be done by anyone and its like they are greedy to know how much money that people have.

[Pi-network314159]

I see this story  as a Case sorrounding a person from this forum who earns in Bitcoin. I am even guessing that this whole schenerio could be referring to yourself but pretending as if it was your friend. Well wether it is your friend or you I think no body has a right to ask you questions concern your welfare. Its only a child that can be forced to tell or forces to explain about his holding or what he has been doing with his fund. A full grown adult can not be moved by what people say or not.

Answer to this your question in the op topic is No.
So I can't declare my Bitcoin holding open to my family because they have no right to how I manage my finances. Though they may be doing good by caring about my welfare to know my stand but they have limits to how they can persuade me. Afterall am not a child but and an adult.

[Liliana1304]

I've read of similar cases like the one the Op just brought up and I'm going to answer like some of the ones I've read as well.
It all depends on how well you trust your family to release such an information to them because you don't know who can out you when the going gets tough.

Imagine the scene you've put in their heads and that Bitcoin is supposed to yield so much money that can help you be financially stable which is true but in every business investment, there's supposed to be ups and downs so maybe instead of showing them that there's potential in hodling Bitcoin, you could just tell them there's a downturn in price now and that way they may let you off a bit else, they would keep monitoring you. If you want to reveal that vital information, you can as well tell them about your private keys.

[NewRanger]

Declaring your crypto asset to your family may pose a great danger to you. Most people are familiar to crypto this day. Even apart from the danger that comes with it, it may also make holding difficult. They will always look to you in case of urgency or emergency not thinking of how you have worked to save such money. This is because they know you have an access that could be convert to money easily. To avoid such stories, it's highly better to keep your hodling to yourself.

Of course and I'm sure it will happen basic assumption Some people or even our family members are sometimes not familiar and do not have knowledge about crypto. if forced, they will be join and try but remember after that it will arise in their minds what we convey will be used as a reference and if it is fail there will be many demands because their money is lost or at least the estimate is reduced. If I personally let them find information independently and if there are questions it is better to just tell them in general, don't be too ambitious because the crypto market is very volatile.