You cannot save the image with your existing code because you do not provide a file name. You need to do something like:
$filenameIn = $_POST['text'];
$filenameOut = __DIR__ . '/images/' . basename($_POST['text']);
$contentOrFalseOnFailure = file_get_contents($filenameIn);
$byteCountOrFalseOnFailure = file_put_contents($filenameOut, $contentOrFalseOnFailure);