Bitcoin Forum

I got this man (a friend to my family), he invested in bitcoin in 2011, and in 2015, he bought some more bitcoins, he's been living well here in Nigeria together with his wife and children, if I will not use the word "rich or wealthy" I would say that, they are living a very comfortable live(i.e, him and his family).

Of recent, he sold most part of his bitcoin hodlings, which according to a reliable source, fetched him over $850,000, he traveled to UK, bought a house there, then he came back, got visa for his wife and children, moved all of them over to UK, he stayed back in Nigeria for a while, later on, he sold his house here in Nigeria, and joined his family in UK.
This man left Nigeria for good, and now is a permanent resident of UK, last time I had a chat with him on Facebook, he told me he does not have any plans of ever coming back to Nigeria again, except he dies and his family decides to fly his corpse back to Nigeria for burial..

Like I mentioned in the subject, the questions are nothing serious, but I implore you to be sincere with your answers...

Question are..
1. Would/will you leave your current place of residence(your country), and relocate to a place you think is better(another country), if your bitcoin investment pays off, making you a millionaire, or almost a millionaire?

2. Yes or No - what is your reason.?

My thought
To be sincere, I've never had any plans of leaving my country to become a permanent resident in another country, no matter how wealthy I become, I could travel for business meetings and return.

But for some time, it's become a trend, whoever makes money from bitcoin(not only bitcoin though), travels outside Nigeria never to return, just wanna know if this is something peculiar to Nigerians alone, or it's happening in other parts for the world as well..

Lets have a healthy discussion..

I've been in our countries before, and to honest, I don't like what I'm seeing. I'm not saying I don't want to go out of our comfort zone, because we won't  grow. However, If I become a self made millionaire then I would rather stay where I'm right now. I know that people around me, I have my friends and families I can purchase a home for them put up a business and bring my kids to good school and hopefully they will also learn how to invest (not just in crypto). Perhaps we can travel all together to experience what it is going to a different places and see their culture. And so if they have plans to go travel and stay on another country then that's their decision.

Well, to be honest with you with my answers, right from when I was growing up, I always had this mindset of going outside my country (Nigeria) for study. I always had that passion for studying abroad, but those dreams have been killed by the same me. I no longer see anything very special about studying abroad.

If I make enough money today to sponsor myself away, I will definitely travel out of this country, go somewhere else, explore, and learn new things. If possible, I will fight to have citizenship in my desired base so that I can travel from my country of origin back there with ease. The truth of the matter is that I can settle wherever Bitcoin (crypto currency at large) is not restricted. I don't have any intention of permanently relocating to a new place, but it needs to be who I am.

If not for the Bitcoin earnings in general, I could have suggested this thread be moved to our local board since the discussion and question are centered on Nigerian citizens, unless the question means something else and is opened to the floor.

IMO, I will not.
The reason could be, personal ties to our current community, which can be difficult to replicate elsewhere and also include strong relationships with my family, friends, or business partners, as well as a sense of belonging and familiarity with the local culture.

It might there's a heavy reason why your friend moved to the UK.
It could be, a better quality of life since they are already wealthy people or business opportunities, they may also move to places that offer better access to top-tier medical facilities or educational institutions which we know how good to live in the UK with the advanced technology but I don't think how a government treats the crypto like Bitcoin there.

Of course, I will live in my country whatever the situation. Because I was born here, and very comfortable about any situation, poor or rich. I ever wandering where I have a lot of money and am a bit rich, but my life is empty, because my family is far away from me, and I can't give them happiness together with me. If I live in my country, even if rich or poor, I still happy where I can share sad and happy feelings with my family.

I think I would move, yes.
I would probably move to Italy or Germany and use part of my holdings to establish some business there and create more wealth for my family, myself and the community I join.

Even if I decided to stay in my country, I could not live as a millionaire because the insecurity we have to face here. I mean, as a rule of thumb, people are supposed to leave their phones in there homes if they plan to walk fairly long distances and also, they cannot have the nocturnal life they would like to.

So if I stayed here, I could only be a millionaire in private, doing what I want in my small room.

Some decisions can't be made immediately but when the time comes, without you thinking twice you'd just decide weather to stay or not.
Well, with the way Bitcoin is acting up and by the grace of God it happened that it came out big in my favor I still believe that I can make a move to relocate myself and my family but is not permanently. If it happens that after HODLing and I saw a bigger profit that would make me a millionaire, I'd rather invest more here in my country than going off to another man's country, I could make out chance visiting my family over there.
But I'm never leaving my country for good, like they say "home is where your heart lies".

I am also a Nigerian citizen, and I am very happy for the person whose story you shared about his success as a result of patiently holding his Bitcoin as you stated until he made good use of his investment.

But I love my country; I don't think such a large amount of profit or money will make me leave my country permanently, as you stated the person did; I like enjoyment as well, and I know that my country is not a developing country, so there is a lot of enjoyment out there; the only thing I will love to do is go on vacation in different countries and return to my own country.



The jakpa trend is still going on in Nigeria, where people are just waiting to hit a large sum of money and leave Nigeria for good, which I consider to be very bad. This is what our leaders have been doing, and it is the reason we have yet to reach our pick when it comes to development; they prioritize other countries better than their own, and as a result, they do everything there, including medical treatment and normal vacations, and as a result, they fail to focus on making their own country a destination for others to visit.

This is nice to discuss with. I will say Capital NO. I will go with the OP thought of the argument. Though everyone has their opinion on an issue, and also everyone sees things from different angles. If you become rich in your present resident and the place not your taste again, and if there is money to change the place you can do that for your comfort zone. Leaving entirely your country to another with your wealth is wrong. Nigerian is a developing State and it needs people like to develop the country with little wealth gotten. If the guy used the money to build a very fine house in Nigeria and stay, he would have developed the country in his part. And also the economic benefits of the country. Like the money which will be spending every day over there would have been spend in Nigeria and his locality business Women that is retail business in his environment would making money from the daily selling.
One thing people don't understand in this migration is that most of your assets would not return back to the home country. The matter what even though you naturalized in the country, your children will trace back their origin to find out their nephews and nieces and other relatives. And they might want to come back again after your dead, and at that process most things would not return. And that would also cause double expenses.
As for me,I never leave my present resident for another country permanently but can only make a visit to the Oyinbo country and come back again.

I will not move to another country or place just because I'm already a millionaire or close to one. I might move to another house in the same city and focus on finding other business opportunities to make more money. So my answer is no.

Maybe it is a good decision for those who managed to make a lot of money from bitcoin but it is not for everyone. Each person has their own plan and will try to achieve it.

I thought that if I moved to another country, the cost of living would not necessarily be cheaper than where I am now. Besides that, I had to adapt again to the habits of living there, the culture, and so on. So staying in my city would be better for me and opening up a new business.

I recall this thread Is there a place in the world you could live like a king via sig campaigns?  (https://bitcointalk.org/index.php?topic=5390048.0) created by @The Sceptical Chymist, because it's somewhat has a correlation with your thread.

Not really sure if I would move to the other country as a permanent resident, but I guess maybe yes because I will trying to find the peace [1], high salary [2], and low natural disaster country [3]. Based on the three criteria I mentioned before, it seems Denmark, Switzerland, and Iceland are the answer.

Obviously homeland is the most comfortable place, but we know there's an option where we can live better for our next generation.

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[1] https://en.wikipedia.org/wiki/Global_Peace_Index
[2] https://en.wikipedia.org/wiki/List_of_countries_by_average_wage
[3] https://en.wikipedia.org/wiki/List_of_countries_by_natural_disaster_risk

In my case it would mean nothing. Being a millionaire means nothing more nowadays than that you have a bit of financial peace of mind but you can't afford to splurge.


The story lacks data. If he had $800,000, buying a house, assuming the average price in the UK, would have cost him $300,000. Other expenses, such as decorating the house and moving him and his family, could easily have cost him $50,000.

That leaves him with $450,000 in the UK, which is not a cheap country. What does he plan to live on? If he has no other income, he can live modestly for about 10 years, and that's it. That's why I say that being a millionaire is nothing to get excited about. If he had 10 million dollars it would be a different story, but a million is going to run out soon. It's probably a lot of money for someone living in Nigeria, that's for sure.

When I was at the Bitcoin 2021 Conference in Miami I met an interesting fellow that wasn't even a Bitcoiner at the conference. One of his buddies from California was one of the first employees at Coinbase and so he went to the conference just to see him again after 10 years. While we were in line to get our food he told me all about his plans to vacate the US to another country, he was bidding for citizenship in this strange land that opened up their citizenship (I honestly can't remember where this was, the way he explained it to me sounded like a scam lmao). Anyhow he bragged about how he had millions and this and that, anyways this guy was set on going to costa rica for good & getting out of the US, and he had a few fall back plans if that didn't work. He had already worked out the exit tax to revoke his citizenship and that incurs a pretty good ding doing that. It was pretty interesting, never met anyone that wanted to leave america as much as this guy, and he was born and raised here too.

Let's say if I am already rich, then I don't have any reason to move to another country as I am comfortable where I live, but I do transfer to other towns that are more peaceful and where I am comfortable, but going to another country is impossible because that would be another expense, and for sure, the cost of living where I am transferring is very high.

Bitcoin City, El Salvador.
No taxes, just VAT.

I am glad that your friend got his chance. Opportunity may come only once and one should not waste it.

Quite frankly and without hesitation yes, yes I would leave my country if I had the chance to live a comfortable life with some bitcoin in a beautiful country other than mine.

I live in a poor country and life is very difficult, so I will never hesitate if I have the opportunity to immigrate outside the country with my family in order to achieve a better standard of living for my children.

Honestly, I don't see any hope for them here in my country because the situation is bad and getting worse over time.

im from the UK but there are many more countries with lower costs of living that are worth exploring.

even being a millionaire the smart plan is to stretch wealth to the max, whereby a UK millionaire is another countries multi-millionaire

the best plan for a great life is to have a few locations and explore the world. i do not want to be stuck in one place. instead i am getting new experiences. spending years learning different cultures and finding new places, and eventually the plan is to then settle down in the favourite location once bored of the world

for me the countries in between from north thailand to south of australia have shown a great diversity of cultures and experiences. many islands and cultures that offer great experiences. i just havnt settled on one yet.

..
each person has their own needs and wants. some like certain sports like skiing so they will want colder climates. some like surfing and sunbathing so want tropical.
some like the luxury life some like the explorer life. the world is a big place, alot to offer everyone. so before settling down explore and find your best place

While this is not a decision which can be taken lightly as there are too many things to consider, especially when this decision implies leaving your friends and family behind, if I were to make it big with my bitcoin investment I will definitively explore the possibility of living at a different country.

Where I live the costs of living are on the high side, so even moving to a different region on the same country could be advantageous to me, however if I found a place at another country which had most of the things I am looking for then I would probably leave the place where I am living for good.

YES

I will move to another country that is better in terms of government, technology and of course legalizing Bitcoin as a digital asset. I'm not a nationalist. I think more about my future and that of my children. I will move to a country where I can develop.

For your information, I am a fan of Martial Arts, especially UFC. There I saw many fighters who were born in Nigeria and became world champions. And what they all have in common is that they were born in Nigeria but they became the best because they moved to another country which helped them develop their skills.

Many football players from Nigeria have migrated abroad, such as to England, then become successful and super rich, in the end they can provide capital, education and health contributions for their country.

I only suggest moving from your country but don't lose your identity. You are Nigerian and will forever be. It doesn't matter what country you live in.

I won't, I'll stay in my country and invest in it. If we all run away from our country, who then will make it better and up to the standards of the other countries you're loving and wishing to move to. If I made millions today, I'll start up an education center to teach the young about Bitcoin and how to invest in it, I'll choose the young because they're the future leaders and can build the country as they dream.

Moving away to foreign lands only develops that country and they keep getting better while where I call home stay poor. This life isn't just about ourselves as any decisions we take affect others in different way. I'll stay in my country and become an example to others, already I'll be living just fine so why move.

I'm not ready to leave my country for another, if my dreams come true my plan is to go on a long term holiday in the US, Miami, and hopefully, I will meet Rick Ross, he is my inspiration figure, and I will like to take a selfie at least with him, but my journey ends at home, there is no place better than where I was brought up, it's where I will establish and expand my business and keep educating people about Bitcoin.

I will not move because my life here will be better if I can make a profit from bitcoin. It's better for me to stay here and try to develop what I have to prepare my children's lives so they can be better than me.

It's not about life elsewhere being better than here but about the comfort I've found, so I decided to stay here. Maybe I'll just take a vacation somewhere else for a while, spend my time with my family, and go back to my house to continue what I've been doing. Maybe other people want to move to another country if they already have a lot of money and it depends on what they do.

So far the general consensus is that people will stay in their current country or location.

For countries which are relatively safe people generally will want to stay there where life
is familiar with culture, family and friends.

I live in Ireland, one of the safest places in the world so in terms of that I have no reason
to leave, my friends and family are here, its familiar but its quite expensive to live here.

Really the only other place I would consider is Portugal, again another safe country but
with fairly high weather extremes. They do have a very friendly "Crypto" tax regime which
is attractive.

First of all I must say that he's among those lucky ones who got early into Bitcoin. The early adopters really made good amount in profits with their investment and holdings. The wealthy crypto-enthusiasts definitely had a good picture of Bitcoin in their minds that one day it will return their initial investment and also give them enough returns to live a happy life.


That's a pretty awesome amount to live a happy life in a first world country like UK, and he was smart enough to stay in Nigeria until he could sell his Bitcoin for good returns. But still I think it isn't a good choice to leave your motherland and move somewhere else. I know that life in first world country is very enjoyable but still you will leave your family and friends behind.



No, I won't leave my country even if my Bitcoin investment makes me a billionaire. I would definitely move for vacation purposes to many countries but will finally come back to my own motherland. The reason is my family and my friends. It is really hard to live the life without my family and my friends even if I have the whole wealth of the world. I'm quite sentimental in this aspect because my family and my friends are very close to my heart.

i don't think I will leave my country if I become a Bitcoin millionaire someday because I think my country is now quite advanced in terms of economy and infrastructure. It's just that maybe I will move to a better city than where I am now, maybe close to the capital, because there I can not only place my family in a better city, but can also provide wider access for my family to can be more prosperous and access to better education.

I choose no because even though salary in my country isn't high compared to most of countries, but the good thing is the living cost in my country is cheap, the society and culture are good, if someone want to have a higher salary they can become a freelancer and learn the skill that many countries are looking for e.g. programmer, design, etc. I think a developed country like UK has a strict regulations, I'm not really comfortable about it.

No, I won't leave my country but I will leave my current location for certain reasons then use my money to establish companies that will be helping in creating more employment opportunities for the youths in my country and also establish a big factory in my local community to help the youths get skills that will help them to start a new life. As a Nigerian, moving out of my country to another better country because my Bitcoin investment paid off means leaving my country in an under development state then going to a country which was developed by her own citizens that's crazy and getting there I will keep paying taxes and once an establishment is developed by me I have also created more employment opportunities there whereby my country men are dying of hunger. Since I believe in the saying that charity begins out home, my plans will begin from my country Nigeria where I got lucky through Bitcoin investment and I will use my money to develop my country so that people will also be attracted to come down here.

If I have that money, rather than moving to a different country for good, I might stay here but I'll go travel on different countries around the world with the people I love. I feel like I can still enjoy on things I want to experience and try even without moving. Unless I have a good work opportunities in other country, I might consider. Cause leaving everything you were used to is a hard decision. I could just move to a different and bigger house here and be comfortable while traveling around the world.

But that's a great story of your friend. Being successful as a Bitcoin investor and currently enjoying his life and money with his family.

Yes, I believe I would move. I would definitely relocate to Germany or Italy and use a portion of my assets to start some businesses there, generating additional money for my family, my community, and myself. The lack of security we experience here would prevent me from living like a millionaire even if I were to remain in my home country. As a general rule, people are advised to leave their phones at home if they want to go pretty far and are unable to live the nocturnal lifestyle they desire. So, if I stayed here, I could only be a millionaire in my own modest room, doing whatever I wanted.

I think the man being referenced in the OP did a good thing. He did what was best for his family, he took them from perhaps an impoverished country to a First World country which will give him & his children much better opportunities in life.

My only criticism would be that he shouldn’t have sold so much (if it was as described most of his holdings) because he will miss out on future big profits.

If I was a bitcoin millionaire I’d retire & try to invest in some real estate to create a passive income. That way I wouldn’t have to sell all my bitcoin.

in the economics section (https://bitcointalk.org/index.php?topic=5451755.msg62208811#msg62208811), I have also responded to things like this (moved to another country). Moving to another country for me and my family (even though we have 1 million dollars in Bitcoin) is not an easy thing, especially when the bond between parents is still there (but the story will be different if our respective parents have passed away). I myself really like to try my luck in other countries, especially USA, even though the competition there is tight but if you're lucky, life will really change drastically.

I have a relative who has moved to Australia for several years, he said the first 2 years here were difficult, he had to adapt to the culture and laws there, he even missed the local cuisine that only exists in our city.

this is just an assumption but I think that the guy in the story have a job in the UK for several years now and from what I've seen, people working abroad for years can get their family relocated to the country where they work. I guess earning $850k from investing in Bitcoin is what pushed the guy to finally take action and move his family to the country where he works (in this case UK)

FYI you can insta buy citizenship in Antigua for 200k USD (they accept bitcoin), or El Salvador for 3 BTC. Other countries have their own immigration process, for example Australia/Canada have a policy to facilitate immigration while other countries don't want immigrants at all. But of course if the country is safe or not or if it has the weather you like weights a lot. Because honestly if you have the money, you could just keep spending your time elsewhere anyway and just tourist a bunch of them. But your home base may be useful to be elsewhere, for example if you are against taxation, El Salvador makes the most sense (and its tropical too).

As humans, it is our nature to always crave for something nice, good environment and better education for our children, et cetera. But in regards to this, my answer is capital "NO", because if everyone had left their countries to other nations, who do you think would have built those places to be attractive that you admire today? (e.g Dubai) None. So if I could have that a million dollar, I bet you I will invest in real estate businesses, transport businesses, import & exporting of goods, and possibly go visiting any U.K or U.S.A for holidays, because Nigeria is just 53 years old, while those are more than century years old.

In my case it would be the opposite case: I already live abroad, actually I've been living abroad in different places for a while now, and if I'd eventually become a millionaire thanks to BTC probably I'd happily return to my country. Actually in the long run the plan has always been returning to my home country but there is no "when" at the moment. The reasons? Cheaper cost of living, better life quality and overall security.

I have dreams and desires to be very wealthy, wealthy enough to be very powerful, to be known, to be able to relate to a lot of wealthy and powerful international businessmen and women, and to extend my business internationally, but I have for no day conceived any thought of leaving my country entirely like OP's friend, even to the extent of selling off my house. (No, I can't.)

Some people may have money but not power or much connection, but I want to have a lot of money and build a wall of power around me, to the extent that I can go anywhere I want, see anyone I want, and travel to any country I want, but I don't want to just base myself in one place. I can prefer to just make my country a favorite residence for myself, and my family can live in any country they choose, but for me, I cannot leave my country. As a Bitcoin billionaire, I want to live that life in my country. All this is what I want.

Although I don't see any possibility of this happening, even if it is not assumed that millionaires will become through Bitcoin, then if the situation in my country is the same as it is now, my answer would be, yes.
And the main cause of it's that cryptocurrency is currently illegal in my country. There is a situation where people dealing in or involved in cryptocurrencies are being prosecuted and sent to jail. So if there is an opportunity to become a million through crypto currency then of course I have to leave my country to lead a better life because if I stay here I may go to jail. In my case it will be very similar to the one you contacted. And if the situation is such that crypto currency is legalized in my country then I will stay in the country with my family because peace like my motherland cannot be found anywhere else no matter how good the life leading system is.

People find it hard to have better life with what they earn. This makes them go abroad, get permanent residence on countries like UK, USA, Canada, Australia, etc. This is found all around and some have the thought of making money and getting back to home country.

To me home country is the best. For some reason my girl wish to move abroad. If I were a bitcoin millionaire surely I'll stay in home country. Because the reason for which my girl wants to move abroad is for financial upliftment. When we have enough money surely this thought won't come and we'll think of touring other nations.