Bitcoin Saves my relatives both of Life, Time and money - page 3.

justdimin

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Quote from: Kakmakr on July 14, 2022, 08:27:50 AM

So, here is the question....

Why would the conversion of the money to bitcoin.... save his life? Bitcoin is still "money" ....so the people that were hunting for his money, stopped doing this, because he transferred it into his Bank and then bought Bitcoin with it?

Those same people can still take him hostage.... ask for a ransom from his family ....and then get hold of the bitcoins again. So, he is still in danger... I will suggest that he leave that country and go back to his family. Roll Eyes

The logic is that the money would have to be transferred one way or another in another form, and it would be a bit harder because how would you transfer that money from a cash in your hand to bank account back in another nation?

The idea is that crypto saved their life because it was done quickly and digitally and he wouldn't have to carry the cash, and that's how he got away with it. Plus, you can't always leave a nation with that kind of money, even transfer via bank wire takes a lot of time and effort. But with crypto? It's done in matter of minutes. Of course there are loopholes in the story, but it's not really a stretch to believe this could happen.

Pmalek

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Farewell, Leo. You will be missed!

Quote from: lovesmayfamilis on July 14, 2022, 05:26:56 AM

OP, are you a big liar or a dreamer?

Quote from: ?? on ??

I am only 27 years old .and I am using cryptocurrency & I am using this forum from 2013 . When I was 16 years old . But I was folish then I see Bitcoin price $60-70 but I didn't hold Bitcoin then. If I was bought and keep holding 10-12 btc . Now I could make a huge profit and get rich

Quote from: ?? on ??

Yes i been more then 45 years people using btc and investing on btc a much more. Because in this time they are in charge of a family so they are more inclined to seek income .so they take different approaches . And they lean towards Bitcoin

Coinerer is obviously not very proficient with the English language. The second quote you posted is not about him I think. If you check the first quote, he says "I am 27 years old", but in the second post he uses an incorrect construction and says "i been more then 45 years people...". I think he was trying to say that he knows about people older than 45 who invest and use Bitcoin, not that he is 45.

Quote from: Argoo on July 14, 2022, 01:48:29 PM

In order to buy bitcoin, we must have money on a card or a bank account. Here everyone will have problems, because you need to indicate the sources of origin of this money.

I am sure that casinos can provide receipts for such wins that can be shown to the banks and the taxing authority.

Christopher Andrews

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The story was a bit dramatic but highlights important aspects about bitcoin.

gunhell16

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Quote from: coinerer on July 13, 2022, 08:29:28 AM

One of my relatives goes to work in Singapore as a remittance fighter to earn some money. He had a habit of gambling before. One day he goes to the casino and gets free food and $10 to go there. She fell into the greed of eating free and some free dollars and started going there regularly. At some point he becomes interested in gambling. And he started gambling regularly and he started losing all the money he earned here. At one point he lost all his money. One day a lottery was arranged in that casino. And he bought a lottery there as his last attempt. And he won that lottery and got 2nd prize. Where there was 1 million usd. But this money brings danger to him at one stage. The other expatriates who were with him wanted to kill him and take his money. Then he realizes this and take the help of the police of Singapore but Carrying $1 Million was high risky and transferring money to his country by international money transfer it was matter of time. so he buy $1 million worth of bitcoin and back to his country Immediately. Bitcoin saves both his time and money. And he was able to back safely to his own country with his money.

I'm sorry Sir, I would like to ask you first and don't be offended. First, is this a true story you told here? Do you have an article or link on this matter? As a matter of fact, even if it is true, I can say that Bitcoin is really a big help to him, 1M $ is not worth it if I convert it into our currency and you are already one of the millionaire people in our country.

And I can also say that he is a very lucky person, you would have thought that you got the 2nd prize jackpot in the lottery and the action he took was also good that he went to the police to tell his situation. I just hope that when he returns to the country of his birth, he will be able to release most of the 1M$ he won.

kamvreto

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Quote from: AmoreJaz on July 14, 2022, 07:59:15 PM

Quote from: TelolettOm on July 14, 2022, 07:50:48 PM

Whether this story is real or not, at least we can learn from it. especially gambling habits that are not accompanied by the ability to control themselves. But oddly enough, when he wins the lottery, doesn't he usually gamble again? Or because the urgent situation is dangerous because someone wants to kill him huh?
However, Bitcoin is indeed a way that might save someone's life or maybe vice versa. This depends on the condition of each person.
btw, she or he?

true, whether this is true or not, it may give us a good example on how to use bitcoin for inter-border transfer of money. btw, the OP is interchangeably using he or she, that's why we're confused here...lol
anyway, the person may have used the OTC method to exchange his money to btc, and then just transfer it to the other country via another crypto wallet. that's better because he can cash out little by little and not all at once. remember, binance has p2p that anyone can use, if the fiat currency is listed in their system.

The OTC method with $1 Million USD lol, it's very risky if it actually happens in the real world and without any escort. Many will target the person with $1 million USD in cash just like in the movies. It won't be that easy, but the OP's explains it a bit ambiguously. and keep in mind also that binance p2p also requires KYC to use the p2p feature and there will be a limit where transactions depend on the availability of p2p merchants.
I think the fiction or non-fiction debate is over, and of course stories like this only exist in movies.

AmoreJaz

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Quote from: TelolettOm on July 14, 2022, 07:50:48 PM

Whether this story is real or not, at least we can learn from it. especially gambling habits that are not accompanied by the ability to control themselves. But oddly enough, when he wins the lottery, doesn't he usually gamble again? Or because the urgent situation is dangerous because someone wants to kill him huh?
However, Bitcoin is indeed a way that might save someone's life or maybe vice versa. This depends on the condition of each person.
btw, she or he?

true, whether this is true or not, it may give us a good example on how to use bitcoin for inter-border transfer of money. btw, the OP is interchangeably using he or she, that's why we're confused here...lol
anyway, the person may have used the OTC method to exchange his money to btc, and then just transfer it to the other country via another crypto wallet. that's better because he can cash out little by little and not all at once. remember, binance has p2p that anyone can use, if the fiat currency is listed in their system.

TelolettOm

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Whether this story is real or not, at least we can learn from it. especially gambling habits that are not accompanied by the ability to control themselves. But oddly enough, when he wins the lottery, doesn't he usually gamble again? Or because the urgent situation is dangerous because someone wants to kill him huh?
However, Bitcoin is indeed a way that might save someone's life or maybe vice versa. This depends on the condition of each person.
btw, she or he?

Zlantann

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Great story whether it is fiction or non-fiction because Bitcoin really saved someone. Security risk is one of the greatest challenges we also have in my country. Immediately people begin to suspect that you are doing well or won a kind of lottery, you become an instant target of armed robbers and kidnappers. Instead of living a flamboyant and luxurious lifestyle I perceive Bitcoin as one of the best investment to hide your wealth. Your relative acted smartly but what did he tell the people that wanted to kill or robe him because of his money? Were they told that he has spent all the money?

Ahli38

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I don't know if this is fiction or real. but I appreciate the meaning of the story. However, there are points in the story that are missed. whether it was intentionally shortened or not. what is clear is that this point makes people ask how to exchange 1 million USD into bitcoin easily, especially if he is in someone else's country.
here is the oddity.

But whatever steps are taken to exchange the money for bitcoin then it is the right step. because if your friend sends money directly through the bank then of course you can't. because each country has a maximum limit per month for each person if you want to send a certain amount of money to a different country.
but with bitcoin there is no such limit.
this is the advantage of bitcoin.

romero121

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Majority of the users find this to be a made up story. Though it is a made up story it has got something to teach the people. Whenever you gamble/make money, it is always good to stay on the secure environment. Because more similar incidents have taken place. Few months back too one incident happened. 66 year old man was killed once after winning good.

66-year-old Baltimore man followed from the casino, shot for his winnings, wife says

Gyfts

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Quote from: CryptoBuds on July 13, 2022, 11:58:08 PM

Quote from: coinerer on July 13, 2022, 08:29:28 AM

One of my relatives goes to work in Singapore as a remittance fighter to earn some money. He had a habit of gambling before. One day he goes to the casino and gets free food and $10 to go there. She fell into the greed of eating free and some free dollars and started going there regularly. At some point he becomes interested in gambling. And he started gambling regularly and he started losing all the money he earned here. At one point he lost all his money. One day a lottery was arranged in that casino. And he bought a lottery there as his last attempt. And he won that lottery and got 2nd prize. Where there was 1 million usd. But this money brings danger to him at one stage. The other expatriates who were with him wanted to kill him and take his money. Then he realizes this and take the help of the police of Singapore but Carrying $1 Million was high risky and transferring money to his country by international money transfer it was matter of time. so he buy $1 million worth of bitcoin and back to his country Immediately. Bitcoin saves both his time and money. And he was able to back safely to his own country with his money.

There is a fundamental difference between bitcoin and traditional assets today in that it can be used in such situations. It will not be easy when you carry a suitcase of cash to be able to move from one country to another without any danger. But the story doesn't seem very clear to me, how can he convert that 1 million dollars into bitcoin, how?. Did he use CEX or DEX exchange to convert? And is your friend a bitcoin or crypto lover?.

You don't have to carry a suitcase of cash. I'm not defending fiat currencies here, but most banking is done online and the entirety of someone's net worth exists through pixels on screen. I'm not sure what OP is getting at here with this story, I suppose using crypto to avoid regulations, and perhaps taxes which might not be legal in their jurisdiction, is the point. I'd generally agree with the premise of using Bitcoin to avoid international fees and regulation, because taking currency overseas is absurdly expensive due to how many intermediate banking institutions you need to go through.

Argoo

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Quote from: Pmalek on July 13, 2022, 09:35:36 AM

It feels weird to tell someone their story is fake especially if it really happened to a family member. But there seems to be too many illogical things in this one.
I once won a few grands in a physical sportsbook and I was asked to submit my banking information where the money would be routed. They didn't want to give me the cash. I find it hard to believe he was given a suitcase or a bag full of money and shown the exit door. You also mentioned he talked to the police and they helped him apparently. How did they help him, and if he got the help he needed, why did he still need to buy the bitcoins? If attempt were made to kill him, those responsible should/would have been arrested.

I also think that this is most likely a beautiful fantasy. There are many things that do not correspond to our realities of life. Of course, no one will give out the prize won in cash. Especially in a large amount - one million dollars. It is also unrealistic to reverse the transformation of cash into bitcoins. How was it done? In order to buy bitcoin, we must have money on a card or a bank account. Here everyone will have problems, because you need to indicate the sources of origin of this money. In general, not everything is as simple as described by the OP.
The only question is, why did he do it? Just to write a nice post?

Kakmakr

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So, here is the question....

Why would the conversion of the money to bitcoin.... save his life? Bitcoin is still "money" ....so the people that were hunting for his money, stopped doing this, because he transferred it into his Bank and then bought Bitcoin with it?

Those same people can still take him hostage.... ask for a ransom from his family ....and then get hold of the bitcoins again. So, he is still in danger... I will suggest that he leave that country and go back to his family. Roll Eyes

kamvreto

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The story described by the OP's will indeed illustrate how important bitcoin is during an emergency situation like that and can save the money he has and save his life.
But even though many respond to the story as being fictitious and fictitious, we can still benefit greatly from how privacy is very important and how investing in bitcoin with $1 million will change anyone's life in the years to come.
Bitcoin becomes a digital asset that is useful for everyone, for all countries and for anyone who needs it, not regulated by anyone and not centralized.

Bobrox

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Quote from: coinerer on July 13, 2022, 08:29:28 AM

he buy $1 million worth of bitcoin and back to his country Immediately. Bitcoin saves both his time and money. And he was able to back safely to his own country with his money.

Bitcoin not only with lightening transaction but also give chance for help every one from criminal cases, I think what did by your friend after lottery winning with $1 million to buy or invest with bitcoin are good decision. But you saves him without show his identity and keep anonymous about who's your friend have $1 million worth with bitcoin. I think what did by your friend very good choose he try not only saving fund with safety but also he has invested with bitcoin, but not describe about how much price when your friend invested in bitcoin, but if bought bitcoin last several days before he has did good job because bitcoin price still on lower, just waiting few years later when bitcoin reach higher price and get much profit.

lovesmayfamilis

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✿♥‿♥✿

Quote from: Poker Player on July 13, 2022, 11:35:07 PM

This story has more to do with hoping to get merit (unsuccessfully so far) than with actual facts.

This is not the first time we have seen such a story, especially on this board. It's something like the threads in the B&H section that praise the merit system, higher ranked members or things like that.

First, he went for free lunches and 10 dollars, then he played in the casino... and so on.

It's a beautiful script or the OP's own dream. Once such winnings happen to someone, I do not argue. But here, everything coincided. A beggar man who goes for free meals, but he is very literate in all aspects of buying and handling Bitcoin. Cool. In my country, the poor think about how to feed themselves and how to feed their families.

I'll show them your OP story Grin

. Perhaps this will encourage the poor fellows to explore bitcoin.

Edit:
OP, are you a big liar or a dreamer?

Quote from: ?? on ??

I am only 27 years old .and I am using cryptocurrency & I am using this forum from 2013 . When I was 16 years old . But I was folish then I see Bitcoin price $60-70 but I didn't hold Bitcoin then. If I was bought and keep holding 10-12 btc . Now I could make a huge profit and get rich

Quote from: ?? on ??

Yes i been more then 45 years people using btc and investing on btc a much more. Because in this time they are in charge of a family so they are more inclined to seek income .so they take different approaches . And they lean towards Bitcoin

Pmalek

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Farewell, Leo. You will be missed!

Quote from: coinerer on July 13, 2022, 11:05:19 AM

first he deposited his money on his bank account on Singapore. then He used many different way like p2p trading , buy with debit card and more way as much as possible . It's keep him safe from attackers. he bought btc from a secret place Where attackers will not find him. Something like this happened.

As if the story wasn't weird enough already, it just got weirder. So he managed to deposit his million dollar winnings into a local Singapore bank, but instead of transferring that money to his home country, he started buying bitcoin with it. The moment the money got deposited in the bank, he was safe from having his cash robbed. I don't see what changes just because he decided to purchase bitcoin. He could have just moved that money safely via the bank to any other place in the world. The transaction costs are a different topic entirely.

kotajikikox

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congrats to your relative and maybe thanks for supporting and trusting bitcoin , the only problem I see here is that since he already Knew bitcoin and surely sooner he will find about the gambling in crypto casino?
then surely that 1 million USD will fell into another gambling activities and might lose that as well like most of the loser in crypto gamblign as they loved the game and not the money .

GiftedMAN

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Leo is resting.

Quote from: coinerer on July 13, 2022, 08:29:28 AM

so he buysss $1 million worth of bitcoin and back to his country Immediately. Bitcoin saves both his time and money. And he was able to back safely to his own country with his money.

Good to know that your relative was saved from the stress and danger of having bucks of some fiat currency around especially in a strange country. How was your relative able to purchase $1 million worth of Bitcoin that fast since he was in danger and some forks were after his life because of the prize money? Does the casino where he won the lottery accept bitcoin as a means of payment or was he able to convince them so he could use the $ 1 million to purchase Bitcoin. The story may be a true-life story but the way it was explained is making me feel that it's incomplete but it's all good the message appluads Bitcoin as the saving grace for human time and money.

yhiaali3

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Although the story seems illogical and unrealistic, but the final idea that we can conclude is that owning bitcoin is much better than owning paper money, you can safely own millions of dollars of bitcoin by keeping it in a small wallet, whether it is a hardware wallet, a desktop wallet or Mobile and this money can be easily transferred to any country in the world without much risk, while if this money was paper it would be very difficult to move it across the border and might get killed and robbed, this is the main idea of the story and this is one of the many advantages that Bitcoin outperforms Fiat .

Topic: Bitcoin Saves my relatives both of Life, Time and money - page 3. (Read 890 times)