Maybe he's from a society where Bitcoin is restricted from it citizens a place where there's tough regulations by the government and citizens who secretly use it have to be careful not to attract the authorities, for instance the past administration of my country restricted the use of Bitcoin and other coins at large so we were very careful cause most the security authorities who were delusional took it personal and would immediately tag one for fraud if caught.
However I don't think it's a nice idea for him to generalise since there are countries where the regulations ain't tough and people freely use Bitcoin for different use case, what he should've said is that people should protect themselves from potential robbery by not exposing the amount they're worth to the strange people or sometimes even close neighbours, these are tough times and lazy people who can't invest or hodl Bitcoin could easily plot with kidnappers and steal your coin, it would've been very understandable if he had explained it that way.
In other words, one can spread the aware of Bitcoin and it's important, with specific reason of why it's good for people to hodl it including the benefits they stand to gain in future but avoid letting them know what she or he is worth in Bitcoin, for security reasons.
I don't fear the government because I know there are ways to acquire and hold bitcoins that the government will not even know that's what I loved about Bitcoin, it is like right under their noses, although to clear your first assumption, you are right, crypto is not legal until this year in my country, but I was not active since a long time but I was monitoring the market not regularly but like on weekly basis or monthly.
I don't like the idea of sharing our personal holdings with anyone because of such news, where you tell someone and he tell another person and the word spreads like fire, but not in an adoptive way but it can attract bad attention like in my first post the teacher got kidnapped just because his son has 3 bitcoin if you looked at it.
I can spread the word about bitcoin but most of the people already know it, I did not know it before but I had my ways which I did not know before I am going to learn about Bitcoin, so I just kept searching and learning, end up here somehow and learned a lot from here especially the Jayjuan. You are right we should not have to tell them how much we own, but we can tell them the importance and future of it. But only if they will listen, because I think bitcoin is at a stage that it need no marketing like this.
Yeah I get your point, Bitcoin really is something that even with bans people still find their way around. That’s one thing that makes it unique, it can’t just be stopped.....About sharing holdings, I fully agree with you. Once that kind of info leaks out, it spreads quick and before you know it, wrong people are aware. That kidnapping story you mentioned is a good reminder why privacy matters.
I also think at this stage Bitcoin doesn’t need too much hype anymore. The situation with inflation, governments printing money and people losing trust in banks is already pushing more people to look into it. What helps most now is just guiding those who are curious so they don’t make beginner mistakes with wallets and security.
there are guys who had transactions over the years, but then they might want to move those coins or even figure out ways to create more hops with their transactions, yet if they take coins off of an exchange and then they move the coins back to the exchange to sell them, then it may well be easier to tell them that the coins were taken off of the exchange earlier, if they are asking you from where you got the coins..so sometimes having too many hops could work against you when an exchange is asking you to verify your source of funds for coins that you send to them. It is not fair, but it is part of our current world and some of the challenges that we might have when we are dealing with third parties, so we have challenges dealing with third parties and we have challenges dealing directly with people, yet we still have to decide whether we are going to save and/or accumulate wealth in bitcoin or if we are going to hold our wealth in other ways. Some people may get scared out of their BTC if they believe it is too burdensome to try to hold it.
True talk, too many hops can sometimes raise more red flags instead of hiding anything. That’s the problem with KYC exchanges once you touch them, they can question every move probably why they call it centralized exchange and I don't see difference between it and normal banks though.... Best way is to minimize the back and forth and just focus on holding your coins in self custody, which is safer and more secure.