Post
Topic
Board Beginners & Help
Re: Why it’s important to avoid telling everyone about your crypto holdings
by
1miau
on 11/06/2020, 22:17:36 UTC
You can say that same about you cash money, whats the different  Huh Huh
If it ever does get to the $5 wrench stage you're better off splitting it so there's one readily accessible amount with the rest hidden properly. You can do the same with hardware wallets, have a second password protected wallet with a much lower balance on the initially accessible one.
Regarding the 5$ wrench attack d5000 linked a good article evaluating it how to avoid such an attack: https://cryptosec.info/wrench-attack/

Quote


2. Prevent getting unwanted attention

Bitcoin or cryptocurrency stickers in your car, on your laptop, having bitcoin and cryptocurrency related license plates, those things.

As bitcoin and cryptocurrency enthusiasts and investors, Bitcoin and crypto stickers and license plates are cool and all that, but unless you work in the cryptocurrency industry and is quite well-known anyway, It’d be best to prevent flaunting your affiliation with cryptocurrencies especially in public.

Having these public gimmicks is one of the best ways to attract attention if you want to be followed by criminals on your way home.

There are some more basics and also strategies.



You can say that same about you cash money, whats the different  Huh Huh
There are a few similarities but I think also very big differences. When People hear someone is owning Bitcoin, they think very often such people are rich, especially when they don't know much about Bitcoin. Many nocoiners still associate Bitcoin holders = rich.
And the most important difference is because Bitcoin is almost everytime digital (besides Casascius Coins etc.). All digital goods give some more opportunities to draw conclusions, like Kakmakr explained here:

How many people registered at a online casino with their Social media account? Did you withdraw bitcoins to your Bitcoin address? Well, if you did... then you are theoretically f@#%ed. (Now the hackers know you and also the people operating the casino and also the government if the site is regulated and licensed.)

Same when you buy coins on an exchange and someone gets access to your name.
There are much more examples.