There are people who still believe that Bitcoin is for scammers

[HeatBit]

Banks can never be people's friend.

I have a friend who's junior brother is dating a lady in the US, they have been dating for four years now, something came up few days ago where the lady sent $12000 to my friend's brother and the bank seized the money.

The process they knew isn't helpful in anyway and they told the brother to come down to the bank and the was arrested, the bank workers informed some agents and they wait patiently for him in the bank, thankfully he went with my friend, his brother, who raised the alarm and all family are aware.

It got so worse that they started calling him a fraudster, the only way he escaped is after they talked to the US girlfriend on video call and she clarified everything, this was how he got his freedom.

After his release, I asked him, why don't you use Bitcoin? He said he thought it was scam, something that was supposed to have saved him from this mess was already painted as scammers tool.

This also showed how you can get betrayed faster as a customer to a bank.
Banks can never be your friend like Bitcoin can.

[Cryptomultiplier]

It's just so funny that Bitcoin that was launched to free citizens from bank control and financial instability, is the currency most criticized and black labeled by governments and individuals who don't know better.

The best way to help anyone who is still very sceptical about using Bitcoin, is to expose them to the layer 2 solution where they can use stable coins on a Bitcoin backed network to keep the value of their currency steady, while there's also the freedom available to move the coins to wherever and at whenever they want without needing permission or putting themselves at the risk and mercy of bank managers or other third parties that are nosy.

[NotFuzzyWarm]

And in just what country did this happen? That is a rather important detail...

[Faisal2202]

After his release, I asked him, why don't you use Bitcoin? He said he thought it was scam, something that was supposed to have saved him from this mess was already painted as scammers tool.

This also showed how you can get betrayed faster as a customer to a bank.
Banks can never be your friend like Bitcoin can.

But why was he arrested by the bank? What flag did they raise? I mean, they must have given some statement about what made them arrest your friend?

There must be a reason, but if they just believed your friend after a video call alone, then the whole story feels fake to me haha. Literally, I am not going to beleive any more stories I watch just like that, although I am of a paranoid type but I think I have to level up my guard a bit. Because banks just don't seize money (I mean they do) but they don't release it like that.

Using BTC would still have caused him trouble when he converted it to fiat. Maybe the issue was the high amount. $12k coming into an account is not much, but it can depend on the bank and the region. Can you prove this story?

[Xylber]

The Government did a good job brainwashing their citizens into thinking BTC was for drugdealers... They attack anything they can't control.

That's why the narrative has changed now, because now they can identify many addresses thanks to their "registered" exchanges, tax reports and KYC.

[_act_]

After his release, I asked him, why don't you use Bitcoin? He said he thought it was scam, something that was supposed to have saved him from this mess was already painted as scammers tool.

And he is in this world?

If bitcoin is a scam, will United States makes the confiscated bitcoin to be in their national reserves? Also Trump let people know that bitcoin is not a scam, although he later created pump and dump tokens.

Another thing is that many other countries are considering making bitcoin a reserve.

Bitcoin now has ETFs.

Many companies are buying bitcoin.

With the adoption of bitcoin right now, I do not think anyone should say it is a scam except the person is a critic.

[Hatchy]

And in just what country did this happen? That is a rather important detail...

My be in ops imagi'nation'.. many stories like this usually doesn't add up so I don't stress myself thinking if it's real or not, I just try to reply in conditions if it were to happen. Once again it only shows why bitcoin is just the solution to the messed up bank systems we have had since coming.

It's totally possible for banks to call the cops on you or just seize your money. Indeed if the money send by his friend from abroad as sent through BTC, then he won't have had any issues whatsoever with banks.

[Haunebu]

There are 2 sides to every coin op implying that there will always be believers and non-believers in BTC and other cryptocurrencies for various reasons and there is nothing anyone can do about that. Majority don't believe it is useful and call it a scam currently.

Only the minority feel otherwise. However, the majority portion is shrinking while the minority portion is increasing with time. My point here is to look at the big picture instead of focusing on these random incidents globally people.

[Ambatman]

I think in the process of reading this it felt like something of such could happen in Nigeria
Scammers are at large
And it's easy for the bank to believe such amount might be as a result of fraudulent act.

And also in Nigeria
Many have the wrong notion that if you know, speak or own Bitcoin then you should be a fraudster
Already like a pop culture.

[TokenTikas]

Just by looking at the subject of the post, I thought maybe the content inside would be something different but I never expected it would turn out to be about love in this kind of way. While reading the post, I even laughed at the beginning but one thing that became clear is that when a large amount of money suddenly enters a bank account, the bank starts to see it as suspicious.

Because of the information sent by his loving woman, the bank became doubtful. Not only that, if a big amount of money comes into a bank account all of a sudden, the bank can still question it. Truely, if someone wants to stay on the safe side and avoiding these bank issues, keeping money in bitcoin can be a better option.

[sergiorus]

people outside of finances and especially outside of crypto have very loss tolerance for massive corrections and bearish trends.
they will be willing to call any asset a "scam" if it experiences a correction or a bear market similar to what's typical for bitcoin.
of course bitcoin has always recovered and printed new highs, but people don't really pay attention to that, they live in a moment.
i wouldn't be surprised if many of those who call it a "scam" now praised it when its price was at ATH

[Lembo69]

I think in the process of reading this it felt like something of such could happen in Nigeria
Scammers are at large
And it's easy for the bank to believe such amount might be as a result of fraudulent act.

And also in Nigeria
Many have the wrong notion that if you know, speak or own Bitcoin then you should be a fraudster
Already like a pop culture.

Yes, something like this can happen in Nigeria too, but as easily as he was released by just talking through a video call, something like this will never happen in Nigeria because, Nigerians who are involved in legal work have less power. Due to which they suspect people at the slightest and misuse their power. They have exposed many innocent people to such fraud many times. In that case, I think banks cannot be friends in any way. Especially if it is a Nigerian bank.

It is said that the stronger the law system of a country, the more developed it is. Our country is not developed because our Nigerian law system is weak, first of all they give priority to fraud. That is why they can never make strict laws. And they promote Bitcoin as fraud

[NotATether]

Well, to be able to use the bitcoin you have received in such a solution, the only way you can really cash out is through banks. So it has the same risks.

If it was 12k dollars received in a 3rd world country, then I would understand why they'd be quick to seize.

[Adams0001]

Just by looking at the subject of the post, I thought maybe the content inside would be something different but I never expected it would turn out to be about love in this kind of way. While reading the post, I even laughed at the beginning but one thing that became clear is that when a large amount of money suddenly enters a bank account, the bank starts to see it as suspicious.

Because of the information sent by his loving woman, the bank became doubtful. Not only that, if a big amount of money comes into a bank account all of a sudden, the bank can still question it. Truely, if someone wants to stay on the safe side and avoiding these bank issues, keeping money in bitcoin can be a better option.

Banks are trying to protect there self from crypto currency just because they don't have access to it and they can't get any benefits with it that is the main reason they don't like any transactions that will comes under crypto. Banks don't know if you're there good customers or not any huge money that comes to your account they will start to suspect and try to investigate about the money to know exactly where they money is coming out from, you won't have freedom when you're keeping your money in bank. But bitcoin make you have freedom of your funds and invest anytime you wish and withdraw anytime you're in need of the funds. Bitcoin is very perfect and making transactions with bitcoin will be the best server for you then trusting Banks.

[macson]

There are so many cases where international transfers are often held up by banks for various reasons. To make matters worse, in some cases, the bank holds onto the funds and the disbursement process can take up to a month. Just imagine if that money were sent by family members working abroad, it would mean they’d struggle to meet their daily living expenses while the funds are being held up.

That’s why so many people are already using Bitcoin for remittances. They no longer have to deal with the hassle of cashing out at a bank because people from abroad can send Bitcoin directly to their wallet, and it can be cashed out immediately through an exchange. Using Bitcoin also much lower fees, and the process is much faster than going through a bank.

[uchegod-21]

Firstly, ignorance is really not an excuse in the sight of the law. Everyone is supposed to have a little knowledge about the laws surrounding the financial systems of their country or the beneficiary's country. If both parties understood this, an alternative means would have been taken to prevent such a situation.

Back to Bitcoin, I will not be surprised if I meet someone who claims not to know much about Bitcoin or someone who knows only negative things about Bitcoin. Bitcoin’s adoption is still growing, and I am convinced that there is at least one person in underdeveloped and developing countries (advanced countries are not excluded) who is yet to come to terms with the fact that Bitcoin is real. If this story is real, then the young man has now realized that he has been stressing himself with borderless transactions all along.

[Crypto Library]

Bitcoin cannot be compared to banks because banks are institutions that provide services to you primarily for their profit or revenue, and they do so under certain conditions, where our risk is always high. For example, I am unable to withdraw my 5.8k dollars from my country from the bank, only the situation of that bank has become almost bankrupt. The funny thing is that now I can't withdraw my money, but I paid them a service fee to keep my money. And at the same time, inflation was free.
On the other hand, I invested in Bitcoin at the same time and made a profit of about 65 percent of the amount I invested in this recent bull season and along with that, there is no limit or any specific rule for my Bitcoin transactions. I can make transactions with anyone I want whenever I want. And Bitcoin has no paid developers, no paid miners, everything is basically volunteer-based.

[tabas]

After his release, I asked him, why don't you use Bitcoin? He said he thought it was scam, something that was supposed to have saved him from this mess was already painted as scammers tool.

The irony that he's thinking that Bitcoin is a scam while that amount sent to his bank account by that lady that have been flagged by the bank. There are some banking rules about the huge deposits that shall be red flagged to the bank and so their due process is to put that on hold and make investigations and before they release it, they have to make sure that it's clean and everything is done legally. The banks are seriously fighting the anti money laundering and those who knows that will not commit it and avoid that so that it won't make their heads troubled.

[uneng]

I can understand the bank in that case. There are many scammers deceiving lonely people on the internet to get money from them through false promises of true love or by being someone they aren't for real. And here the scenario looks suspicious: someone from a first world country sending a large sum of money to a third world country. Of course agents got concerned about that, because it's indeed something suspicious.

Thankfully the situation was cleared on the best way as possible and the legitimacy of your friend was proved towards local authority.

[Hazink]

Imagine if the guy knew known about bitcoin and he receives the money from the person who is away and all the money without him knowing the risk associated with trading such a large sum at once, don't you think say thing could have also happened to him immediately that amount is being funded to his account through P2P or what ever means, one thing is knowing about bitcoin and the other things is knowing how to follow your countries laws and try to avoid being suspected even when you are innocent.