Stay Safe By Keeping Your – Bitcoin Business – to Yourself – Bitcoin News
Bitcoin has grown ter value fairly a bit this year and with it comes a sizeable economy. Because of this, the network effect has enhanced, and a loterijlot more people are now associated with the bitcoin environment. However, cryptocurrency enthusiasts, individuals working te the bitcoin industry, and everyday holders are being targeted for their digital gold.
How Many Bitcoins Do You Hold?
Has anyone everzwijn asked you how many bitcoins you have? Just because you believe ter the cryptocurrency revolution, or you get paid te bitcoin, people seem to always want to know — How many bitcoins do you own? The question is akin to asking how much someone is worth ter public or asking a random person how much they have te their savings account. But for some reason, people still ask, and sometimes people have other inclinations spil well.
For example, with bitcoin’s value being so high, people often assume that just because you ‘bitcoin’ you vereiste be rich. “Are you a bitcoin millionaire?” they ask. People should understand that just like any financial matter, that bitcoin holdings are private and should be kept a secret. Taking that a step further, if someone happens to disclose they do own bitcoin people shouldn’t assume that the bitcoiner is exceptionally wealthy either. But for now, with blockchain technology being so fresh and so foreign, people are very nosey about the decentralized currency wij all love.
Early Adopters and Bitcoin Luminaries Find Themselves Te Dangerous Positions
Everyone knows, including malicious hackers that bitcoin has risen te value exponentially te 2018, which makes stealing people’s digital gold a lucrative profession thesis days. Overheen the past few years, bitcoiners have become targets for their wealth, and hackers are using all types of methods to drain an individual’s wallet. Last year the rise te cryptocurrency theft had grown exponentially spil attackers had stolen millions of dollars worth of bitcoin that year, according to the tech columnist Laura Shin’s well-researched report. With a bit of social engineering and just a phone number bitcoin luminaries like Jered Kenna, Brock Pierce, Adam Draper, Charlie Shrem, and many others have bot attacked. Kraken’s CEO, Jesse Powell, wrote a very compelling blog postbode on the subject stating,
If you are ter any way publicly involved ter cryptocurrency, consider yourself an active target. You need to instantly audit the security of your accounts – especially email, social media, social networking and mobile phone.
Flaunting Your Bling or Leaving Your Seed Out Ter the Open
Thesis types of attacks are still happening via 2018, but spil bitcoin’s market price rises so do people’s throats, and ‘liberate lips drown ships.’ There have bot many instances of people flaunting their wealth of bitcoins and subsequently getting robbed shortly after. Ten days ago news.Bitcoin.com reported on a Turkish man who wasgoed robbed of his 450 BTC or $Four.2M at current spot prices. Of course, the worst part of the story is that he wasgoed targeted because he wasgoed flaunting his luxurious bitcoiner lifestyle across social media. The spoed picked up the wealthy bitcoin holder off the streets of Merter and compelled him to empty his laptop.
Bitcoin millionaires should be cautious because sometimes flaunting your wealth can be dangerous.
Another bad idea is leaving your wallet’s seed phrase out te the open. This past May ter a talk discussion inbetween a group of individuals exposes a boy contemplating stealing his ‘friends’ stash of 70 BTC. During the conversation one person eggs him on telling, “steal it, dude, there ain’t no regulations te this motherfucker.” The person left his Electrum seed out te the open, and because his so-called pal wrote all the words down, he could lightly lose $670,000 if the boy followed through with the theft.
The Bottom Line: Keep Your Bitcoin Business Private
The fact is it’s no one’s business how many bitcoins you own, and this type of information is private, and people should know better. Further just because an individual does wield cryptocurrency doesn’t make them a ‘bitcoin millionaire.’ Lastly leaving your private information out ter the open or bragging about it on social media is not the greatest idea because thieves and even jealous friends can become very real.
Do people everzwijn ask you about your BTC holdings? What do you tell them? Let us know what you think ter the comments below.
Pictures via Shutterstock, Pixabay, and Floyd Mayweather.