Bitcoin Saves my relatives both of Life, Time and money - page 5.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: bittraffic on July 13, 2022, 10:05:52 AM

I wish he won't be gambling the all the $1M, a money that big don't normally come twice in a lifetime.

I thought this as well, if you're a gambling addict, bitcoin is probably a bad currency to own compared to lots of others (stocks might be one of the best on the other hand too as the market closes for a while).

bittraffic

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Regardless of whether the story is true or not, BTC serves a situation like this. This is not a bizzaire story of sensing betrayal due to money but seeing they are both expat in the country can be daunting for a killer to execute a plan.

Moving to Singapore to work means he is not that rich. I wish he won't be gambling the all the $1M, a money that big don't normally come twice in a lifetime.

ChrisPop

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Not your Keys, Not your Bitcoins

Well... that's quite an interesting story --> maybe more suitable for the gambling section of the forum, yet I doubt that he got that lucky.
But yes, Bitcoin is very powerful and as you said it can literally save lives through the high portability and its digital properties.

I'm curious though... how he managed to buy $1M worth of Bitcoin with cash? Found some local p2p sellers?

Rruchi man

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Bitcoin Casino Est. 2013

Quote from: NeuroticFish on July 13, 2022, 09:17:45 AM

So sorry, it sounds wonderful, but I don't think that's a real story

Seems like a fabricated or exaggerated story to me as well, something to interest the community, I get the gist that bitcoin saves life, time and money...but how did it all happen so fast. All casino's definitely understand the risk involved with giving cash to lottery winners especially immediately, and certainly they will not want to put a winners life in danger. Plus If you win a huge sum, it takes a while for any casino to process it, it is certainly not instant.

Pmalek

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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.

NeuroticFish

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

so he buy $1 million worth of bitcoin and back to his country Immediately

Wonderful story, but I think that it's just a fantasy. Things don't go that easy.
I don't see any good reason why that prize was not sent to a bank account in the first place.
Then, in most cases, such big prizes are not given out as a whole and not so easy. It's usually like "you get this monthly amount for that number of months or you get 75% of the full prize if you want it all now".
Then nobody just sells you $1M worth of bitcoin for cash. Or well, maybe the Mafia does, but it's usually easier to lure you, then kill you and get that fiat.

So sorry, it sounds wonderful, but I don't think that's a real story.

_act_

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How was she able to trade the money for bitcoin? Also bank would have been used legally to make the transfer. But buying bitcoin makes cross border transfer faster and cheaper, which is a good advantage over fiat.

I did not see anything like noncustodial wallet when you were narating the event, possibly she used a crypto exchange for the purchase? If so, she should know that she do not have complete control on her coins and it is better to move the coin to a noncustodial wallet. Getting a hardware wallet will be perfect for better safety.

If the story is true, I am glad about your relative.

Doan9269

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Good enough reason to avoid bulkiness of fiat cash but i think there's a lot to understand beyond the steps he followed, first how did he got to exchange the money from fiat to bitcoin is a thing of concern, secondly what exchange did he make use of DEX or CEX? Thirdly it would have been better if he also learn or understand how to go private with his bitcoin on the wallet been used in other to increase the security and privacy, if he had been using bitcoin prior the time then fine, but if not i think he need to understand the implication of using a centralized exchange.

coinerer

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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.

Topic: Bitcoin Saves my relatives both of Life, Time and money - page 5. (Read 899 times)