Quote from: panganib999 on June 04, 2023, 09:12:27 PM

Quote from: krishnaverma on May 10, 2023, 02:50:24 PM

Recently, I came to read this news

https://protos.com/spanish-police-rescue-crypto-investor-kidnapped-on-holiday/

The first thing that came to my mind after reading this was that one should not talk about his crypto investments with strangers or friends as it can pose various risks. If you are active on forums like bitcointalk and involved in trades, you should not give information which can help others relate to your identity.

Besides the threats to security that comes with letting other people know you have a wad of money under bitcoin, you are also risking yourself from getting screwed over by your spouse or girlfriends if things went south and you guys get divorced. I read a story just a few weeks ago bout some guy losing out on his investments because his wife found out somehow that he has bitcoin investments, and even though he didn't really tell the wife of anything about it, he was caught thanks to financial statements and tax reports that don't make sense.

So yeah, if you want a happy life, keep your bitcoin investments to yourself, you'd save yourself from the peering eyes, and the people who would want to get a piece of your bitcoin pie, as well as legal problems in the future that may or may not arrive.

Here are some additional things to consider regarding keeping your Bitcoin investments secret:

• Be selective - You don't have to keep it a total secret. You can selectively share your investments with people you trust the most, like a spouse, partner or close friend. Just be cautious about sharing too widely.

• Find community - Even though you may keep it secret from most of your friends and family, it can still be helpful to connect with others in the cryptocurrency space who understand Bitcoin and can provide community and support for your journey.

• Ignore naysayers - Some people will criticize Bitcoin and cryptocurrency no matter what. Don't let that discourage you from investing if you've done your research and have conviction in the technology. You don't need to convince everyone.

• Consider taxes - Your country's tax authorities will likely not care if you keep your Bitcoin investments secret. You will still be obligated to pay any applicable taxes on gains. So keep good records for tax reporting purposes.

• Manage risk - Keeping your coins secure is most important. Use strong passwords, 2FA, and hardware wallets if you have significant investments. Your security and risk management should not depend on secrecy.

• Re-evaluate over time - As Bitcoin matures and becomes more mainstream, you may feel less need to keep your investments secret. But for now, in the earlier stages, more discretion is often a good approach.

• Be prepared - If you do decide to someday share your Bitcoin story, be prepared for a range of reactions - skepticism, curiosity, envy, criticism and more. Try to stay grounded and educate others patiently.

Hope this additional perspective is helpful! Let me know if you have any other questions.

Yemson820

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