My journey to Bitcoin Cash(Part 1:How I lost 2 btc)

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3 weeks ago
Topics: Bitcoin Cash

I decided to write my life logs about BCH.So who dont know me let me tell you I live in Pakistan biggest city Karachi, Here our government put sanctions on every type of cryptocurrency after one coin scam and some money laundering cases. Our government failed to understand difference between Multi level Marketing scams and Crypto currencies. So our state bank stated that they will be not be responsible for any crypto related transactions which simply means if one is cashing out its crypto currencies and want to get its cashed amount in bank, Then state bank can not recognize it as money in exchange of cryptocurrency, Which create problems when you have to file tax returns and you can't show the source of money as it is not recognize by government. So keeping crypto here is not a crime but if you want to spend it then there's a whole system you need to beat up.

And it is true many criminals used crypto to be use in money laundering in past, but They also used gold and other ways, So it was foolish act to make such announcement for cryptocurrencies and with this announcement our only newly developed crypto exchange was closed "urdubit.com".

How I lost my 2 BTC

First Time I read word bitcoin in 2010 or 2011 and in 2013 I was trying to understand it I downloaded its core wallet but GB's of data to be download made me very impatient and other things were out of my league I live in third world country at this time when I am here writing this still only few people are out there who can understand blockchain Technology as it is, For other population crypto are just work as stocks they buy it when rates are down and sell it when rates are high and these types of people also only numbers in hundreds. It was 2017 and to be exact it was august 2017 when I decided to put my whole life saving in cryptocurrencies, I had my first account setup on blockchain web service and I was pretty noob about cryptocurrencies at that time So I bought 2 btc worth around 7000$, There was no direct way to buy it in my country so I contacted my cousin living in USA to do this for me and he did it for me, I was pretty sure at that I have purchased it on right time but what was about to struck me I had no idea about it. I was so happy about it I was preaching my whole network including friend, family and co workers that they should buy it future is all about crypto. It was first time in my life when I was holding such a big amount of any crypto before that I never bought more than .1 btc. So now I want to explore more I joined few facebook groups to see what else I can do, There I met a guy name Frank White he was such a nice guy We talked for few days and he told me he use to trade on crypto and he can teach me to, I was so naive at that time I agreed and he ask me to download electrum wallet and export my keys from block chain and store my bitcoin in my desktop wallet, It will be safer their he said. I agreed and he told me If I don't know how to do this he could help I said ok and he connected VIA teamviewer and helped me it took only 20 mins before I realized I've been scammed, That guy wiped my account because he saw my private keys but he was kind enough to leave me with .019 btc . This was a lost I am still not recovered from and it happen on same day when I told my cousin to send my btc, before that I let him keep it I wanted to sell it and buy again if price goes up, but this friend of mine who promise me to teach me crypto trading, I told my cousin to gave send me btc and when I got them it took him only 20 mins to destroy my life. 7000$ means 1,078,000 pkr which means with this money I could spend 11 months with out earning any thing . So this was a huge lose for me, But I thank to him also for teaching me valuable lesson, which is how to survive when you don't want to live. I went completely broke but I survived and it made be stronger than ever and here I am . I still some time see that wallet and wonder what if I didn't do that at that time because just after this btc started its way to make history.

Here is is the pic of wallet I still have it :)

It was relief to start my life story about crypto Definitely I will write more and I think this part contain valuable lesson for new users. "Don't be so Naive" (To be continued)

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3 weeks ago
Topics: Bitcoin Cash
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