Bitcoin Saves my relatives both of Life, Time and money

[dansus021]

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

[LogitechMouse]

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.

[smartaction]

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

[KennyR]

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 Further only it can be withdrawn or used on other needs.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.

[Poker Player]

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.

[coinerer]

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.

To be honest i didn’t care about getting merit. I heard this from my relative. And I find it very interesting. So I posted it here. I have no other purpose with this post.

[Darker45]

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.

[CryptoBuds]

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?.

[lienfaye]

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.

[yhiaali3]

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 .

[GiftedMAN]

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.

[kotajikikox]

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 .

[Pmalek]

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.

[lovesmayfamilis]

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

[Bobrox]

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.

[kamvreto]

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.

[Kakmakr]

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. 

[Argoo]

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

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

[Gyfts]

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.

[romero121]

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