Topic: My Colleague at work now have bitcoin holdings - page 2. (Read 305 times)

If i am correct OP your friend hasn't made a withdrawal from this account for like 2 years now and then he went straight to withdraw $150 immediately using a point of sale (POS) if that so then he made a mistake because one thing I notice with banks over here in Nigeria (I could detect its Nigeria from your story)  is that once a particular account left off for more than a year then they advice you come into the banking hall to make your first withdrawal using withdrawal slip its kinda of their way of staying away from scams (according to them)  and concerning the amount debited, didn't the POS attendant received an alert?  Because banks can be cunning sometimes they might later reverse the money to the recipient.

Although it was a great thing bringing your friend into bitcoin, I welcome him to the freedom of money but please advice him not to invest that same money he wants to use to acquire the land because he might sometimes need it urgently just like you narrated and probably the market might be all red that time.
 He didn't use the bank ATM but a Point of sale machine and even if the receipt was out then the funds must have been transferred to the account registered in the POS machine/device

your story is very confusing for this bank problem, if you use an atm machine if the receipt comes out automatically the funds you send will definitely come in, so also if you transfer through a bank teller, but now it's sophisticated, it doesn't take 5 minutes for the money to come in
did your friend cheated by mr jhon?
Is your friend's money back now with the previous status ASAP?

but congrats to you for convincing your friend by investing bitcoin and teaching him step by step,
I hope your friend is ready to face a situation like the current unstable market for an undetermined time

It's a bit difficult to understand your story, but I understand your point. Dickson didn't get his own money which he had kept in the bank for two years. He can withdraw it whenever he wants but because the bank doesn't work on holidays or there is a network repair that causes all transactions to be delayed. This is an old problem that has often happened in banks and if there is a disruption to the network, users will feel the impact directly as Dickson experienced.

And maybe this is what finally convinced Dickson to start using bitcoin as his savings and it seems he has realized the weaknesses of the banking system and it happens everywhere, not just in his place. You've given basic lessons on how to use bitcoin, from creating a BTC wallet. Next, you can teach him how to use BTC as an investment so he can start it himself and ask you more questions or in this forum. Hopefully, he will learn more about how to use BTC properly to take advantage of investing in BTC.

What your friends experience in their banking transactions is quite strange and has never experienced this, when making transactions at an ATM if the receipt is out then the funds will definitely be received directly by the destination account as well as when using mobile banking,
maybe you are in a third country so banking transactions are still that difficult.
Hopefully, your colleagues can learn a lot more about Bitcoin in this forum the advantages and disadvantages when want to investing how volatile it is and not always focusing on the price that fluctuates in fiat.

My colleague at work in the same department with me has being passing through some fiat banking issues. According to him he has an account at Guarantee Trust Bank,which he only deposits into the account, so that whenever there is an emergency he can fall back on this saving account. Dickson said for two years now he hasn't collected money from this account. Recently he had an emergency that needs serious attention so he used his ATM card of this account to make a withdrawal at the nearest POS point close to him,he was debited of $150 converted from my local currency without getting the cash. Dickson said he made a transfer of $200 immediately to the account of Mr Teddy Jones,the transaction was confirmed but Mr Teddy didn't receive the money until the next day afternoon due to network issues. Dickson said he contacted his bank and complained but they said he should be patient that they are working on it.

The next day Dickson went to his bank,the customer care said the $200 he transferred will reflect ASAP,but the $150 which was debited at the POS point will be reversed within one month time. This was how Dickson could not purchase the land the land he wanted to buy with the  money. The land cost $400 for one-quarter plot,but he could make a deposit of $200 and pay the balance in a month time based on the agreement between him and the owner of the land.According to Dickson he made sure he purchases the land that was why he made those two transactions of $350,which only the transfer reflected the next day afternoon 2hrs after coming from the bank,due to centralization. The next  while Dickson was at the bank, unknown to him,another buyer came with the sum of $300 cash for the same land. Mr Teddy due to his urgent need for money to take care of his sick dad,immediately sold the land to this new buyer since he hasn't seen any alert from Dickson my colleague.

Dickson said he called Mr Teddy when he got home but he heard the shocking news that the land has been sold to someone else,he got so sad and disappointed at his bank. He came to me after he couldn't purchase the land,though he has been telling me about having issues with his bank but he didn't tell me what he needed the money for. I have taught and given him the basic of bitcoin several times,he even loves the initiative. Last week,he asked me how can he buy bitcoin and I asked him why is he asking, he told me he wants to give bitcoin a trial as a means of keeping his saving,that will it be safe for him and have easy access to his bitcoin whenever he wants and I told him Yes.

Yesterday Dickson came to me during break and said he is ready to buy bitcoin and I was astonished on his motivation, I advised him not to rush into it but should only use the money he doesn't really need or saving to have a holdings and not money needed urgently. I asked him how much does he wants to start with he told me.
    First of all I guided him on how to download a binance app which he did,and then directed him on how to create and exchange account. I also guided him how to link his bank account to his binance wallet,which he was able to deposit some amount in his wallet and bought his bitcoin directly with our local currency. I made him understand that his bitcoin holdings needs to be secure from hackers by telling him he needs to create an offline wallet which he can generate his keys himself he was confused. Although I directed him on creating an electrum online wallet which I showed him how to transfer his bitcoin to his electrum wallet and advised him never to show or disclose his private keys to anyone and how to keep it safe.
 Today I introduced and told him about bitcointalk.org and advised him to register so that he can learn more on his bitcoin holdings. I congratulate Dickson for taking a bold step on bitcoin. This is one of my achievement in spreading the awareness of bitcoin in my locality so far