Topic: Bitcoin Saves my relatives both of Life, Time and money (Read 951 times)
Very well, OP! Good luck to you if this story turns out to be true! I find it rather an interesting read, but I am sorry to say that the real-world scenarios are not that easy.
Nice story. This really shows how bitcoin can impact the world. One of the main challenges faced today are security issues which can be resolved easily through bitcoin.
I'm wondering how or where he was able to buy $1 million worth of bitcoin. No one could just easily convert that amount of cash to crypto unless you know someone that can do peer-to-peer trading. It's risky to do that via a country's local bitcoin exchanger because like in my country, you need to go through AMLC before buying that huge amount of bitcoin.
Buy $1 million worth of bitcoin looks not easy actually with local exchange market, need time few days later when you make deposit trough to your local exchange market before purchasing with bitcoin. But first after winning from gambling casino will use cash money to pay and need convert early to be fiat before deposit to local exchange market. Although not easy have way how to make convert $1 million to be bitcoin and hold in local exchange market or use hard ware wallet. you need to go through AMLC before buying that huge amount of bitcoin.
my country just preparing for KYC and ability deposit without any limit amount but not include when you try for withdrawing because take limit about $200,000 on daily day but you can upgrade more $200,000 by submitting few document later. 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 appreciate on what you have shared here so far, but the moment you've mentioned about buying BTC $1 million, you didn't specify on how he just simply transferring it so easy? Did he do P2P? Or through a bank and passing KYC?
For me though, if your relative is doing the P2P transaction, that would be the case because there's no KYC needed as well as the limits. But if through bank, wire transfer, etc., it would be really hard for him to do that transaction as there would be lots of barriers that's going to consume both time and money for approval.
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.
Did he bought the Bitcoins from any exchange?
I mean buying bitcoins worth 1 million is really risky. So I am wondering did he bought from exchanges by giving out his KYC details? Or did he bought through P2P trade.
Nevertheless glad to know that Bitcoins have saved someone’s life, and now he also got his money in his own hands.
Now he doesn’t have to give taxes and can easily cash out little amounts frequently when required. And btw congratulations for winning the lottery.
$1m is such a huge amount of money that even exchange would have him comply KYC and ask for additional documentation to boost his deposit and withdrawal limit. That alone could sound quite a complex procedure and the way he's telling his story sounds like it's easy to put that kind of amount into Bitcoin.
As much as I want to believe the story, but OP did not include and specify the process of transferring that fiat to Bitcoin. Coz again, that doesn't seem an easy transaction for that kind of amount.
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.
Did he bought the Bitcoins from any exchange?
I mean buying bitcoins worth 1 million is really risky. So I am wondering did he bought from exchanges by giving out his KYC details? Or did he bought through P2P trade.
Nevertheless glad to know that Bitcoins have saved someone’s life, and now he also got his money in his own hands.
Now he doesn’t have to give taxes and can easily cash out little amounts frequently when required. And btw congratulations for winning the lottery.
about on possible physical abduction or something like that.Passing up some KYC wont be an issue for sure even myself wouldnt bother out as long you are dealing with right and reputable exchange then it wont be a
problem.
Rather than making yourself getting or bringing along with those lot of cash.It could be also done with P2P but this is something risky yet you wont know
if you are dealing with the right people or not.
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.
Did he bought the Bitcoins from any exchange?
I mean buying bitcoins worth 1 million is really risky. So I am wondering did he bought from exchanges by giving out his KYC details? Or did he bought through P2P trade.
Nevertheless glad to know that Bitcoins have saved someone’s life, and now he also got his money in his own hands.
Now he doesn’t have to give taxes and can easily cash out little amounts frequently when required. And btw congratulations for winning the lottery.
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 wondering how or where he was able to buy $1 million worth of bitcoin. No one could just easily convert that amount of cash to crypto unless you know someone that can do peer-to-peer trading. It's risky to do that via a country's local bitcoin exchanger because like in my country, you need to go through AMLC before buying that huge amount of bitcoin.
Fiat is dead, and now belong to numismatic collections, but we are not ready to change, especially the big bulky banks. They just cant accept that their money manipulative power has been taken away in an instant. I think now we need a bitcoin based loan system, Soon banks will loose their interests and we will loose our interest in banks. Can we imagine a fully online banking system with no branches and ATMs for cash, as there will be no cash in future.
What happens is that there is a lot of inertia built into the system already, and as such changes cannot occur as fast as we want, so there are only two options, the first one is that bitcoin slowly erodes the influence of fiat and bitcoin takes several decades in order to become as dominant as we believe it could be.The second option is that the current system eventually collapses and this gives bitcoin the opportunity to fill the space left behind by the failed fiat currencies and become dominant way faster than with the first option.
BTW, he doesn't even need to carry such amount of cash in the first place. The world is trying hard to achieve a cashless society, so why would anyone take such an ignoble decision of moving such heavy cash around physically? All the casino needed do was to transfer his winnings to his account. Just like that. The winnings are transferred to the winner, the winner then finds a way to transfer it back home to his dependents.
the story does seem far-fetched, as you said that that much money was taken easily from the casino, with no other options such as transferring to a bank account. I'm sure the casino won't spend that much cash either because it's very risky.Regarding this story, whether it's made up or real, there is a lesson we can take, namely Bitcoin is able to become a digital asset that protects everyone from crime in the real world, assets will remain safe as long as you hold the key.
Basing up on the situation then how he do able to manage on converting those millions to crypto? Does he deal up with their local exchange platform or going for global?
It might be complicated on such scenarios but since it was successfuly converted and that person goes home safe without the need on bringing those cash then it was a great call.
As long you do make yourself private and cant be that too obvious because even those money stored up on crypto but with a $5 wrench would be enough for you to
say your private key. LOL...
Fiat is dead, and now belong to numismatic collections, but we are not ready to change, especially the big bulky banks. They just cant accept that their money manipulative power has been taken away in an instant. I think now we need a bitcoin based loan system, Soon banks will loose their interests and we will loose our interest in banks. Can we imagine a fully online banking system with no branches and ATMs for cash, as there will be no cash in future.
BTW, he doesn't even need to carry such amount of cash in the first place. The world is trying hard to achieve a cashless society, so why would anyone take such an ignoble decision of moving such heavy cash around physically? All the casino needed do was to transfer his winnings to his account. Just like that. The winnings are transferred to the winner, the winner then finds a way to transfer it back home to his dependents.
the story does seem far-fetched, as you said that that much money was taken easily from the casino, with no other options such as transferring to a bank account. I'm sure the casino won't spend that much cash either because it's very risky.Regarding this story, whether it's made up or real, there is a lesson we can take, namely Bitcoin is able to become a digital asset that protects everyone from crime in the real world, assets will remain safe as long as you hold the key.
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.
Very lucky your brother can win the lottery up to 1 million usd, indeed carrying that much money will be very risky even the fear of robbery and murder can happen, the steps taken by your relatives are very appropriate because after all transferring money that many people from countries will arouse suspicion from the country authorities, exchanging them in bitcoin is clearly easier for us because one of the goals of satoshi Nakamoto to create bitcoin is to make it easier for us to make financial transactions in large or small amounts and bitcoin was originally intended to be alternative currency replacement with many conveniences. 
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.
Your friend must be very lucky to have won such huge sum of money, and I have no doubt about the story if it's true or not because people do actually win such amount of money from casinos, and $1 million is not up to what people have won on physical and online gambling casinos since the existence of gambling. But however, Bitcoin has actually ease easy, cheap and fast transactions across borders, and that's what makes it unique from fiat
We must all take a lesson from the story. Gambling can destroy your capital account. It’s not just about a certain currency or asset, you have to be careful about your decisions in all the spheres where your money is involved.
What do you mean? The OP's relative won 2nd prize on the casino which is a million dollars, how does that destroy your "capital account". I guess the best lesson here is privacy and safety especially when you have a huge lump sum of money.Anyway, I'm not really convinced that the story OP provided is true as there are various ways for you to safely transfer your funds but they choose to do so on crypto or bitcoin. Also, being able to buy that kind of amount of bitcoin isn't as easy as you will need find exchanges that will allow you to do so. Another thing to consider is the value, The amount his relative won may have significantly reduced if they've exchange it to bitcoin.
We must all take a lesson from the story. Gambling can destroy your capital account. It’s not just about a certain currency or asset, you have to be careful about your decisions in all the spheres where your money is involved.
(...)
It's thrilling and exciting through your story. I find that person lucky to have won the grand prize and also lucky to remain safe from the greedy envy of the bad guys. I believe that BTC brings more benefits than just the case from this story, even as I live in a life where people around me always consider what they know and give. It is the goal of life and success to have things like having a lot of money, real estate, gold, silver, ... and others must see them. Sometimes I feel very uncomfortable with that thought, and I hold BTC and do not want anyone to know and understand what I have. Even though they thought I had nothing, I had everything they were looking for.
...... 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.
How was the process done? How was your friend able to purchase $1 million worth of BTC without providing any KYC functions? Generally, exchanges have been very stringent with KYC requirements and personal records. From my experience alone, if a transaction involved high amounts of BTC, my exchange would most likely freeze my account to question the genuineness and veracity about the origin of my funds.
He just said his friend converted from cash to bitcoin so maybe his friend used centralized exchange to buy bitcoin. This is a large amount of money so making a p2p transaction is very difficult and can be dangerous, if yes, he has to do it many times.
He just wanted to think of a way to convert his assets into bitcoin and be able to return home safely so choosing a centralized exchange is not so bad.
I think the stories of how bitcoin can be used for personal benefit are endless, I don't think they have to be so dramatized to give more value to the advantages that bitcoin offers.
...... 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.
How was the process done? How was your friend able to purchase $1 million worth of BTC without providing any KYC functions? Generally, exchanges have been very stringent with KYC requirements and personal records. From my experience alone, if a transaction involved high amounts of BTC, my exchange would most likely freeze my account to question the genuineness and veracity about the origin of my funds.
Though that may be the case, your friend indeed saved his fortune by converting them into BTCs. The difficult part is converting them back to cash in the exchange that he purchased them, unless he sells them via p2p transactions or via escrowing your funds.
BTW, he doesn't even need to carry such amount of cash in the first place. The world is trying hard to achieve a cashless society, so why would anyone take such an ignoble decision of moving such heavy cash around physically? All the casino needed do was to transfer his winnings to his account. Just like that. The winnings are transferred to the winner, the winner then finds a way to transfer it back home to his dependents.
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.
Nice initiative i would say on which you could really save up yourself on different hassle and the risk specially you are dealing with a million dollars which lots would really be having that bad intent towards you because money is really just too hot and could easily trigger out those criminal minds once they are really that aware on someone who had been holding those huge funds.A good thing that he knows bitcoin which he had able to think up directly for some solution on the current problem that he's facing considering that security is indeed at risk on bringing those funds.
but still not that enough for you to get confident because anytime they could abduct you but to know that getting private keys wont be simple but if you are on a situation where
life and death involves then you might really ending up on giving.
So sorry, it sounds wonderful, but I don't think that's a real story.
Same here, there are a lot of inconsistencies in the story.
Quote
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.
It was a he first then become a she and later become a he.The prize looks like given in cash since
Quote
The other expatriates who were with him wanted to kill him and take his money
But I doubt that will happen, probably a cheque.But then if it is in cheque then he needs to cash it out thru his bank or in cold cash.
Then if it was in cash then how did he buy BTC, face2face?
And this is what makes it more like a make-up story
Quote
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.
The crucial sentence is when did he buy BTC and how did he buy it. It should be stated in the story to remove silly ideas like mine in the scenario 
.Anyway regardless of whether the story is true or made up, Bitcoin had been proven as one of the best methods to stash and hide our money from authority and other people.
Sounds like a great story but I don't see the point in trading the money into bitcoin and then trading it back afterwards. In any case your friend had the money in his bank account already so he could just simply transferred it. If the lottery was not legal the bank would have locked the money, no matter if he transferred it or not. The only option I would see is to directly buy bitcoin from people, but I think thats nearly impossible with that high volume.
Just hope he doesn't gamble away the money considering you said he's a gambler. I have read numerous articles about people who never used money they won from lottery well. I tend to believe the huge prize should be split to multiple winners to increase the chances of having responsible people as winners or you could develop a method that only allows/encourage responsible bettors to win the whole prize.
In regards to Bitcoin saving his life, I think the proper terms should be his Life, Money and Time was saved with/via Bitcoin. This sounds more reasonable so Bitcoin is not seen as GOD & start to be worshipped by people. Nevertheless, I like the fact he was able to freely use Bitcoin to secure his fund for International transfer which is part of the purpose of Bitcoin
In regards to Bitcoin saving his life, I think the proper terms should be his Life, Money and Time was saved with/via Bitcoin. This sounds more reasonable so Bitcoin is not seen as GOD & start to be worshipped by people. Nevertheless, I like the fact he was able to freely use Bitcoin to secure his fund for International transfer which is part of the purpose of Bitcoin
I read your story though the story of one's life is very interesting and I like it.Yes, if the country had no use for bitcoins, if the bitcoins were not yours, then that person would not be able to return home with his money or he would not be able to enjoy the money.But he has managed to enjoy a lot of money today due to the fact that this Bitcoin is active all over the world.Within a short time he took his money into the account and converted it to Bitcoin.His drunken state would have been fatal if he had brought money. So we can say that in this bitcoin dhaka people can enjoy all the benefits.
That is why I regard Bitcoin and the cryptocurrency generally as a fastest means off making a money transfer or money transaction within a space of time. From your analysis it is very obvious that if the money was with the guy in question it would have ended up for another group to have the funds. So with the help of BTC and the cryptocurrency in Wyoming the transaction moved smoothly and the life a person who have the money he still also self because of existence of Bitcoin.
I'm surprised, he didn't gamble the money he won? That's how things usually go. I highly doubt someone who was quite addicted to gambling would suddenly stop and realize that they need to save money, they'd probably straight up go to gambling again after the money has settled in. Additionally, I think the only problem here would've been if his money was manually transferred physically? I haven't tried it but I'm pretty sure there should be a possible process for you to transfer money from banks even if they're from different countries.
Not really, although he is addicted to gambling, the sum of 1 million dollars is huge and he probably thinks that is enough for him to have a comfortable life for the rest of his life, so he does not need to gamble to get rich anymore. If he still can't give up gambling, he can still play after returning home, keeping money is the most important thing at that time.
The OP's story has many unclear parts, he doesn't detail how his friend was able to convert 1 million USD into bitcoin.
-snip-
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.
Maybe it's not as hard as it seems in some parts of the world, especially if the casino industry is allowed to thrive which is supported and protected by clear regulations. Even as much income as a foreigner earns, by reason of winning a bet makes a bit of sense (with proof of betting history or something).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.
As well as converting fiat into bitcoin in bulk, there are several methods you can take to avoid annoying customer verification.
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First, I will like to say a big congratulation to your relative on winning a whooping 1 million dollar in a lottery, right now, am really wondering how much he staked to have been able to win such an amount of money in the second place.
Though i have to agree with those who said story looks unreal, but its good since it highlights some useful use cases of Bitcoin, the truth is that, the use cases of Bitcoin is endless.
Depending on the situation , Bitcoin can be a -
1. Time saver.
2. Life saver.
3. Bitcoin can be your convenience in time when fiat offers you inconvenience.
4. Bitcoin is freedom from Financial slavery.
5. Bitcoin can be your ticket to becoming financially independent.
6. Bitcoin is power.
7. Bitcoin is knowledge.
8. With Bitcoin, you are the Boss.
9. With Bitcoin, your future is in your hands and not in the hands of some bank(s) somewhere.
The list is endless, Bitcoin is every thing good we can imagine.
Though i have to agree with those who said story looks unreal, but its good since it highlights some useful use cases of Bitcoin, the truth is that, the use cases of Bitcoin is endless.
Depending on the situation , Bitcoin can be a -
1. Time saver.
2. Life saver.
3. Bitcoin can be your convenience in time when fiat offers you inconvenience.
4. Bitcoin is freedom from Financial slavery.
5. Bitcoin can be your ticket to becoming financially independent.
6. Bitcoin is power.
7. Bitcoin is knowledge.
8. With Bitcoin, you are the Boss.
9. With Bitcoin, your future is in your hands and not in the hands of some bank(s) somewhere.
The list is endless, Bitcoin is every thing good we can imagine.
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?
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.
Without considering fictitious or non-fiction, what can we learn from this story? If he took a million cash back to his hometown, it would be extremely risky, he would become the target of robbers, if he deposit money in bank account his 1 million dollars will be frozen at any time as the bank reserves the right to do so without notice to him, but with bitcoin, he has full control of his assets.
OTC with 1 million USD I also think is not possible and the P2P conversion on the exchanges must also go through the bank, very curious how he converts to btc.
Well, good for him that it worked out. There really are gamblers that won't cash that out or convert it into bitcoin if there's no threat because they'll spend it again.
OP is the one to testify that this story really exists as he's the one who started it out and proves everyone wrong who thinks this isn't a real thing. But I can say that there really are stories like this that happens in real life and you know, in casinos, people there would really have their way of saving their money easily so they can go and fro to everywhere when they're done.
OP is the one to testify that this story really exists as he's the one who started it out and proves everyone wrong who thinks this isn't a real thing. But I can say that there really are stories like this that happens in real life and you know, in casinos, people there would really have their way of saving their money easily so they can go and fro to everywhere when they're done.
Whether it's real or not, we all know how Bitcoin can help people in times of unexpected situations. People who are having a hard time cashing out their funds or carrying them internationally due to restrictions could have Bitcoin as a replacement since it provides anonymity. There are already lots of true-to-life stories about how Bitcoin saved people from hard situations and from there, we could see how broad the function of Bitcoin is.
Whether it is a fantasy story or not but I really don't think it happens in real life, I'm sorry.
Anyways, a gambler is always a gambler. Let's say that story is true and that person who won the big prize will certainly just lose all of his winnings. Why? because he thinks that the more he spends and gambles makes him rich but in the end, it makes him poor especially when things become uncontrollable.
Well, I'd wish he leave there and bought some assets, not only Bitcoin, otherwise it was just only a short happiness.
Anyways, a gambler is always a gambler. Let's say that story is true and that person who won the big prize will certainly just lose all of his winnings. Why? because he thinks that the more he spends and gambles makes him rich but in the end, it makes him poor especially when things become uncontrollable.
Well, I'd wish he leave there and bought some assets, not only Bitcoin, otherwise it was just only a short happiness.
I honestly felt this post like a made-up story that has nothing to do with the real-life world. And if it is true, chances are that it is only 0.001% true. Rest you know better!
I also have the same opinion like others that it's fantasy story as your relative won $1million from the lottery and he buys bitcoin with it immediately to save himself because they don't sound to be realistic and is made up story.So he found someone in P2P manner that agrees to buy btc worth million dollars also sounds fake to me.
I'm surprised, he didn't gamble the money he won? That's how things usually go. I highly doubt someone who was quite addicted to gambling would suddenly stop and realize that they need to save money, they'd probably straight up go to gambling again after the money has settled in. Additionally, I think the only problem here would've been if his money was manually transferred physically? I haven't tried it but I'm pretty sure there should be a possible process for you to transfer money from banks even if they're from different countries.
Is he/she a Bitcoin user? because how did they trust a currency that instant with huge amount to transfer? is this a true story? or something that you only made up?
but at least congratulations to your relative for winning a million in lottery(because no matter how how hard i try? never that I earn lol.
and also try to advise Him now to gamble again because eh will lose everything with that.
but at least congratulations to your relative for winning a million in lottery(because no matter how how hard i try? never that I earn lol.
and also try to advise Him now to gamble again because eh will lose everything with that.
I think this is a perfect example of how helpful bitcoin can be when fiat can’t. Transactions overseas have become easier and quicker.
Bitcoin is always Helpful if you know how to use this and how to keep it safe because this is very vulnerable for hackers and scammers.
I think this is a perfect example of how helpful bitcoin can be when fiat can’t. Transactions overseas have become easier and quicker.
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.
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?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.
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.
OP, are you a big liar or a dreamer?
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. 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
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
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.
The story was a bit dramatic but highlights important aspects about bitcoin.
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.
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?
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.
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?
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.
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?
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?
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?
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.
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.
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
66-year-old Baltimore man followed from the casino, shot for his winnings, wife says
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.
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.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.
The only question is, why did he do it? Just to write a nice post?
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.
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.
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.
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.
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. 
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
. Perhaps this will encourage the poor fellows to explore bitcoin.Edit:
OP, are you a big liar or a dreamer?
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
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
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. 
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 .
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 .
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.
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 .
1. How did he bought $1M worth of Bitcoin? Where did he bought it? Binance? Kraken? Kucoin? P2P? Maybe elaborate this even further if it's ok to you.
Im also curious about this on how he bought the Bitcoin. Op didnt also include if his relative is already aware of Bitcoin before buying it. Because if he's not a bitcoiner and just a newbie then certainly he will not risk his money into something that he's not really aware of especially its a huge amount.The story seems not real because there are many questions that left us hanging.
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?.
This is like taken from a movie plot. You could submit this to a director and, who knows..? It looks like a true to lie story. 
Kidding aside--which is quite hard to do in this case--Bitcoin is indeed a good way to move a big amount of money across international borders. It's hard to do it in cash, money transfer, gold, and so on. There'll be a lot of papers, for sure. There'll be a lot of interviews and unfair suspicion. Bitcoin fixes all of this.
Kidding aside--which is quite hard to do in this case--Bitcoin is indeed a good way to move a big amount of money across international borders. It's hard to do it in cash, money transfer, gold, and so on. There'll be a lot of papers, for sure. There'll be a lot of interviews and unfair suspicion. Bitcoin fixes all of this.
If this story is true and Op relatives got $1 Million. Then he should leave gambling and use his money for some physical business.
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.
If this story is true and Op relatives got $1 Million. Then he should leave gambling and use his money for some physical business.
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.
Whether it is a developed story or real, I don't wish to comment on it. Through this people will get to know there is an alternate method available to make transactions. As the money is through a jackpot, mostly it'll be settled through a bank account. Further only it can be withdrawn or used on other needs. If the country is tax free, then the person receives entire prize money. If not, certain percentage will be collected as tax and the rest gets settled.
the story is like the movie but it's really dangerous tho. but good that you still live this date and I were your relatives I will stop to do gambling and start to invest with 1 million dollar. i mean gambling is very addictive. and can lead in danger if you can't control it
If this story is true and Op relatives got $1 Million. Then he should leave gambling and use his money for some physical business. Or he should invest this money in a good place. cryptocurrency is high risk. And if it equal to 1 million dollars. Then it is much more risky. So he should convert his bitcoin to fiat money immediately. he can hold 2-3 Bitcoin if he interested in bitcoin too much. But the rest money he should convert as soon as possible 
Winning in a lottery is once in a blue moon event but there are some questions with regards to your story.
1. How did he bought $1M worth of Bitcoin? Where did he bought it? Binance? Kraken? Kucoin? P2P? Maybe elaborate this even further if it's ok to you.
2. How did your relative cashed out the Bitcoin (or converted into fiat)? Didn't the bank feel suspicious to your transaction?
These 2 questions might help other people here like me because there might be some users here who are holding that much Bitcoin but they don't know how to cash it out without knowing the bank that it came from crypto.
1. How did he bought $1M worth of Bitcoin? Where did he bought it? Binance? Kraken? Kucoin? P2P? Maybe elaborate this even further if it's ok to you.
2. How did your relative cashed out the Bitcoin (or converted into fiat)? Didn't the bank feel suspicious to your transaction?
These 2 questions might help other people here like me because there might be some users here who are holding that much Bitcoin but they don't know how to cash it out without knowing the bank that it came from crypto.
the story is like the movie but it's really dangerous tho. but good that you still live this date and I were your relatives I will stop to do gambling and start to invest with 1 million dollar. i mean gambling is very addictive. and can lead in danger if you can't control it
Valid and realistic use cases and entertaining story even if not true, but shows and proves how bitcoin can safe someone's life, time, and money. Hope the relative learned their lesson and doesn't fall back into old habits.
I had a long conversation not too long ago with a taxi / Uber driver who said he was from Mexico. He told me that he was working here in the United States to help support his family back home in Mexico. We spoke about how much he had to pay in transaction fees being international payments. He had heard of bitcoin before but not much about it so I explained things to him. He was thrilled with the idea. This is one of bitcoins biggest advantages!
When people tell you that bitcoin has no real use and is only for speculation, stories like that can change their perspective.
I doubt that OP's story is true, that a non-bitcoiner suddenly put all his money in bitcoin to move it around, not being afraid of all those hacks and scams the mainstream media pump people's heads full of.
Bitcoin works great as your private stash for hiding money and moving it around. Once people realize it, the world is going to change.
This is the strangest story I have ever heard of someone who bought Bitcoin. It is true that buying Bitcoin will provide you with the possibility of moving millions of dollars across the border, but when you win the lottery prize, you will not carry that money in a bag, but will deposit it in the bank.
One way or another, you will have to return to the banking system, unless you decide to keep Bitcoin for decades, then, and with the increase in adoption, you may not need to convert to your local currency.
One way or another, you will have to return to the banking system, unless you decide to keep Bitcoin for decades, then, and with the increase in adoption, you may not need to convert to your local currency.
I had a long conversation not too long ago with a taxi / Uber driver who said he was from Mexico. He told me that he was working here in the United States to help support his family back home in Mexico. We spoke about how much he had to pay in transaction fees being international payments. He had heard of bitcoin before but not much about it so I explained things to him. He was thrilled with the idea. This is one of bitcoins biggest advantages!
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.
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.
This $1 million win story would be appreciated in the gambling section. 
Well, what can I say, this is another case from life that bitcoin is absolutely not a useless financial instrument.
How did your relative transfer bitcoin between countries? In the form of seephrase, right? Because I didn't see any mention of a bitcoin transaction in your story.
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.
That's what I thought, the story already sounded incredible to me as I was reading it. It is one of the many stories that people make up in the forums.
In this case we are in a BTC forum, so a wonderful (and false) story about BTC.
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.
The conviction of how bitcoin saves time and money is a fact, but the story behind i think is not happening in real life. Although its possible to win such a huge amount but handling it all to you in a form of cash, that sounds unrealistic. Here in our country, mostly it will be done through bank transactions. And you can't just withdraw it all at once, the bank provides withdrawals limit. I guess even if the story is cut short, the flow of events is still hard to believe. Converting all your fiat into bitcoin, that thing alone is very risky to make. 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.
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.
-snip-
So sorry, it sounds wonderful, but I don't think that's a real story.
It's not that easy to get $1 million USD in the last lottery, it's not a pre-set movie. and the distribution of prizes, of course there will be some rules so that not everything is given in one transaction, it should be gradual and there will be an option to transfer to the account. rather than carrying it in cash which is clearly a high risk.
And another oddity with buying bitcoin $1 million USD with cash, who will accept it? it's not that easy, there will be a lot of mafia chasing that person.
But I don't know, let the OP tell the story and we can only respond. But rationally it's just a fictional story, there's no evidence whatsoever to suggest that the story is real.
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?
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 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?
I must say that due to very low odds of winning the lottery, I find the story hard to believe. Unless, of course, he bought so many tickets that his odds of winning were very high, but if he earns money doing construction work, then it's unlikely he has hundreds of thousands to spend on gambling. Not to mention the part about friends wanting to kill him. But yeah, Bitcoin can be used to hide wealth if one does it right. My thought is also that if he likes physical gambling, storing the money in Bitcoin might be a way of avoiding gambling because physical casinos rarely accept BTC.
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).
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.
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.
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?
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?
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.
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 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.
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.
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.
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.
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.
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.
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