Bitcoin Forum

... what would you do now?  ???

A true friend wouldn't owe something for 1 year
Demand it or unfriend him

when lending something to someone (in this case bitcoin to a friend) you need some kind of agreement or contract, verbal or non verbal and in that you should set the terms. for example you talk about price and what the plan should be in case it went up or it went down (the risk works both ways). and then stick to it. if you had something like that, then stick to it and if not then that is your fault!

He ows you, then you have the right and get it back. But with the current price, do you think he will pay you back? And does he still have the ability to pay you? It's been year already and what makes you think that he will pay you back now? Did you lend him in fiat equivalent or just pure bitcoin. There's a lot of parameters that we need to factors here. But to be honest, with the current price, I doubt that your friend will pay right now. And you shouldn't allow him not to pay you maybe in a month or two. You have waited too long. But if he is a "true friend", then probably he/she will pay you back. But based on my experienced, people tend to forget their loans, much more if it's only a verbal agreement.

Stab him :D

Just kidding of course...that can get messy

Does he even have those bitcoins anymore? He might not be able to pay you back anymore and as price of bitcoins increase, he might never be able to.
I think that you should either demand your bitcoins now or forgive him. Waiting will just make the situation a lot worse as the price rises.

i will rather pay him a cash + friend will not ows you until 1 year for my experience 3 month is the max

thanks for your opinions.
it s not about not-paying-me back at all. friend wants to pay but we cant agree upon which Price.
i mean 1600 Dollars is way too much. that s why i prefer Bitcoin. you simply just cant compare it to dec 2016. asking for that price is hilarious.
my friend has btc maybe 0.6 or something like that which would then be one sixth of his net-worth acquired by trading in the last 4 months.
but it is still the equivalent of 1600 Dollars right?

Well, It's would be really tough.Because bitcoins price is more than double now if we comparing to the price of Dec 2016.

I will try to give USD instead of bitcoin according to the price of Dec 2016.I don't know if my friend will be satisfied with that.

We can do nothing. I mean without collateral it's hard to get it back. Considering the current rise in btc rate there's no chance of getting it back.

no they are gone - died in a hack.
I had told him to send me three times but he had forgotten and it was not done on purpose.
trading is the same workload at every btc Price. it doesnt keep you more busy when prices increase.
maybe we can find another solution.
for example 100 or sthg like that invested in dec 2016
friend paid 1000 to start trading
and then the percentage compared to the net worth and the Investments - complicated  ;D

When it comes to friends man you've gotta figure out what they mean to you as a friend before you do anything rash. The other guy is saying "friends don't owe you money" so unfriend him and demand it; is your friend in a position to pay you back or are they having a tough time? If they have the coin, or the money, I'd for sure ask for it; make sure your buddy even remembers that they owe you money in the first place haha, they honestly might not even remember.

I owe a friend IRL .035, and I haven't talked to him in years. If we ever meet up again I have it for him, but I don't know his address and just haven't spoken. Talk it over with them.


EDIT : Seen you spoken too them, so now maybe just discuss them putting aside some money each paycheck to pay you off ?

Lets flip the script. Let's say your friend owed you .1 BTC from Dec 2016. Now fast forward to 2018. BTC has crashed and the price is now 10 cents apiece.
Would you be ok with your friend saying "Hey Bro, here's the .1 BTC I owe you..."

I'd say he should pay you what ever the price was at that time.

It would depend on the situation. You can lend money for a year or more, depending on the agreement. Also I wouldn't lend crypto currency. If my friend needed money to pay a bill or something and I was nice enough to give him 0% interest then I would give him fiat.

If he is honest enough,then he should pay the same amount 0.1 BTC in return today.

But you should have mentioned the terms and norms when lending that whether it should be returned as per the dollar rate of that day or should it be returned only in BTC.

But your friend would definitely get a confusion at first whether he could pay you just the amount equal to dollar value on that day.Its human nature.

If I didn't get it back by now the I wouldn't have needed it, it depends on the friend really and what type of friend they were, but I wouod definitely say to them hey remwmber that 0.1.....?

Try asking him for the BTC. And it depends on the kind of friendship both of you share and his situation. In any case, if he doesn’t want to return, learn the lesson and don’t lend him anymore in the future.

I think that it is definitely fair that he pays you the current price for those bitcoins. Unless you think that you would have sold them by now or would be hacked as well, it is fair to ask from him the amount you gave him.

You can always meet half way if you are not sure. Current price plus the price at that time, divided by two.

I can just say that I would definitely have not sold my bitcoins since then (as I didn't) and that I would never hold them in an online wallet or centralized exchange. I would always have my private keys on my computer and only there. So if I gave someone a loan in bitcoins, I would expect bitcoins in return.

Then what you can do is, just ask for the same amount of BTC that he borrowed you a year ago. You don't need to consider the dollar value today since as you've said he is also trading so he should know what is the value of BTC and he will now get the funds to pay you from his fiat resources.

if this is truly your friend, cut them some slack. no one expected all this growth in such a short time. and to call in that marker at its peek valuation is kind of rude, if this is your bro (im assuming you know his situation, there is a reason why he hasnt paid you back yet. this is one of the few types of debt that may grow over time, and a new thing to the financial sphere. at the best, charge him the usd price from the time when he borrowed the coins. at the worst, get SOME of the profit you would have had if you had kept your coins, but understand while he may owe you money, he has a legitimate reason to be salty about this. his loan went up over 100% .

how would you feel about your mortgage if you had to pay half as much again, suddenly?

This is why it is better to never lend anything to friends, give it to them without any expectation you are going to get that money back, but since he borrowed bitcoin he needs to return that bitcoin to you, it is that simple if you accept dollars instead you are going to be the one losing money and you need to look after yourself, your friend is probably going to protest but that is what it is really fair.

If you have real good friends,then there is nothing wrong in lending if you are having money,i was struggling for a while after the recession and one of my friend helped me in overcoming some of my problems and when he needed my help i am there for his aid.
Coming to the OP ,you could figure out a valuation in dollars when you lent the coins and add an additional ten to twenty percent in dollars if he is to return in coins rather than going by the current rate,since you said its your friend you could come up with a good deal yourself.

You should directly talk to that person if you really want your money back otherwise you would have to forget about that . If that does not work and you don't have any written document about it then my friend you are totally screwed.

It depends on the agreement you want have when he owe you 0.1 BTC. if the agreement wasto pay for you in BTC, he should pay you in BTC. If you don't have a clear agreement, assess yourself if it is worth to collect 0.1BTC and your friendship end or you let him pay for what  ever amount he can afford.

If I was that friend, I would have returned it before it reach a year. That can't be your real friend if he doesn't pay you back.

Now that would be valuable nowadays. I guess before you even start lending currency such like this, you should have given him or her a deadline.
I know it's hard to ask or force a friend to return what he borrowed. And maybe if you did, there are chances that he would return it with the same value in fiat and not in BTC which would be very sad for you.

I don't think your friend will pay his loan, it's already a year now and bitcoin price already increased significantly since 2016. One lesson you should learn is, never ever give a loan to him anymore!

This is why it's not always good to have credit between friends as it may cause some conflicts or worst may end the friendship. But seriously, why should it last a year before settling it? Anyway, if my friend owes me 0.1 btc I think the decision will be based on the agreement beforehand, that is if we had one. But if none, maybe we can talk it over a coffee and come up on a win-win situation. And of course I will still consider his situation if he is capable to pay back the same btc amount or maybe I'll just ask the last year's equivalent of how much he owes me. But if a year really passed by, maybe that 0.1 was nothing to me so if there's no chance I can get it back then that's life. We will still be friends but I don't think I can be able to lend him again, haha!

What were the terms of this loan? Did you tell him that you'd get back your 0.1 bitcoin eventually? If yes, then he must pay you full 0.1 bitcoin regardless of the current value of it.

Honestly, that is too much. I would not borrow that amount of bitcoin if you ask me. How am I going to pay him back? It is nearly impossible for me to pay him back and vise versa. If he owes me 0.1btc and he is my close friend, I would be patient because I believe he would pay me someday.

Added to that, I already owe my friend money. And I am going to pay him back. Otherwise, our friendship will collapse. When money intervenes, there is nothing called friendship unless it is a strong one.

I will not ask him for any interest will only tell him that he should pay me in full with the same amount. Since before 0.1 BTC isn't that much but now it's totally different when it comes to money. Bigger amount should not be forgotten and if he's a friend of mine,I'll tell him that just because of that amount he will let our friendship ends. So I'll see if he chose the debt or paying me.

What type of moron borrows something that has a history of going explosively up or down. And what type of moron lends it out to him? Lending with BTC is inherently stupid and toxic.

Debts are debts and it should be payed back without a second thought.
Though the current bitcoin value for BTC0.1 is around $1500. Whatever it is in value, it must be payed back.
If the friend gives excuse for the high value of bitcoin currently then he should also think "What I will do if the price increase more than the current price in future"

let's make this problem to simple answers that if in the term of loan my friends have to repaid 0.1 btc from the current price then nothing they can do besides following the term but if there is no agreement about that then which mean they should not pay from the current price of bitcoin

Just going to talk to him about the 50 50 price hehehhe :D just kidding :)  of course forget it , it was 2016 were in 2018 ^_^  it just money his your friends :) think of it also if he didnt borrowed you that btc before maybe your history changed and you didnt get here now :) :D

His friend was a trader. He should have been be aware of the potential opportunity cost that he was taking away from the OP by borrowing the 0.1 BTC for a year. Unless there was a specific agreement stating otherwise the friend should repay the asset that was borrowed, not the cash equivalent from a year ago.

he will take advantage of btc loans and make deals from there. you should be able to make the right deal from your friends. so you do not lose

If I'm the friend, i won't even wait this long to return it, because the pumping of bitcoin can cause commotion in this kind of situation...

If someone friend ows me 0.1 bitcoin from december 2016? I can only say wow to me, why? Because bitcoin price at that time compare today is very very far in terms of amount exchange. So i can say investing bitcoin from 2016 is now millionaire already today

A real friend shouldn't owe you any money for that long. They better pay or or sue :-) Seriously though, if they have fallen into hard times then cut them some slack.

If you dont wanna lose friends , then never lend them money lol , thats life  lesson trust me . I had few ''friends'' to borrow from me . Now they are gone :)

if he is a real friend he will accept the refund of the same value of this sum in December 2016

Chase him/her don't let him or her to not pay you because a true friend pays what he/she owes and repay their debt. If you guys have an agreement that he/she will still pay you even the price of bitcoin go down or up that is good but if you don't have one sad to say but it is your fault.

You shouldn't lend to friends. You can give themthe money, give them advice, or take a share in the business. But that doesn't answer the question. If you lent him the payment in Bitcoin, then he should pay you back in Bitcoin. However, you need to be practical. If he has got Bitcoin, and he made it as a result of your loan, then try to talk him into paying you the coin. If it isn't a Bitcoin business, then ask for the money plus interest - say 5%. Value the coin at the time of the loan.

You gave him in BTC so it is better to ask him to return the same BTC in bitcoins the price of that bitcoin raised almost 1600%.No need to ask for interest rate if he is a friend for you.
Next time never give it to a friend if you did just forget about getting back. ;D

You can't make agreements or written contracts with your close friends. A close friend would have pay its debt anyway. Here is the best thing is demanding the bitcoin amount as 0.1BTC not the dollar value of the time you gave him the bitcoin.

But you didn't care about it enough until btc has reached the highs that it has now.
On the other side I understand that it's his responsibility to return what he owes you.

You are right it is a very serious issue as bitcoin price is now very high and a lot of people know bitcoin now it is the main reason why he took money and bought bitcoin, it is not good according to me that you should stop helping your friends and not taking interest in any kind of problem he has just give him loan but ask his to be responsible and should pay your loan from all the profit he earned from your money.

Never lend what you cannot afford to lose is my motto, same with investments really.

It would depend what terms you agreed upon. If you didn't agree terms then he is entitled to give you the dollar value on 2016 as much as you are for expecting 0.1 BTC in today's value

Is at sime as it follows: if you gave him 0.1 BTC he owes you 0.1 BTC. If you gave him 20 USD he owes you 20 USD.

Is that simple, he should've known BTC is volatile when he accepted.

I will tell him to pay me in the same price or value when he borrow me 0.1btc. It is not good to be greedy. Remember that he is your friend not a lending client. But also remember that you are friend not a charity worker so you need to tell him that borrowing is different from giving. And always do a good deed to others specially to your friend because God said,what you do to other people is like you doing to Him. Dont expect any return or interest and let the Lord gave a reward to you.

if it's a real friend it will only ask you 0.1 BTC of 2016, and not 0.1 BTC of today

So far my friend does not owe me btc, but if it happens to me then I will let it. because I would be uncomfortable collecting it now.

Your case is pretty interesting, I also curious what will you do next
0.1 btc at those time worth not more than $50 I guess but now is around $1500
You should discuss it with him if he is really your friend, but still asking for a 0.1 btc today is too much

Never lend any form of money, not even to friends, unless they are able to pay it back the next day. And this also applies to you when you borrow money. This is a lesson I learned the hard way, never money.

Since you are asking about how you should price the 0.10 BTC. My opinion is to price it at its current level. Because if you don’t lend the 0.10 BTC and hold it till now, your 0.10 BTC will worth the current market price.

Since your friend borrow in BTC, he should return in BTC. Fair enough.

This is not about having good friends this is about mixing family and business that never ends well and most of the time you are going to lose a friendship over money, there are very friends that have the integrity to pay you back a loan, most of the time they are going to do it very late and they do not want to pay interest, you want to help your friends but you do not want to be a sucker either.

Would ask him to return it of course. This is a very good topic and depends on whether you gave him money in bitcoin. And if not, then you should not talk about it.

I advise your friend to hurry. His debt for the past year has grown immeasurably. If he procrastinates, he will have to sell the apartment.  :D

It depends on your friend, if he is honest he will pay back your  0.1 btc even after years no matter its value.
Good luck with your friend.

I would defenetly not ask him to pay me with this current price of bitcoin. I actually went throught this. I borrowed a friend of mine money to buy something online. I sent him the amount with bitcoin. Then when he got money and wanted to pay me back, bitcoin was more expensive and it's about 140% more valuable than when i borrowed him. He wanted to pay me the same bitcoin amount but i insested he pays the same amount of money. I wouldn't take advantage of my friend not matter how high bitcoin goes.

I would actually meet him the half way as technically he own you 0.1 BTC so he have to return you 0.1 BTC but morally you can negotiate, it also depends on the agreement you had at the first place.

I think that if this was a true friend they would have paid their debts long ago. If this was merely an aquantince than I think you can probably put this down as a learning experience.

He owes you 0.1 BTC lol consider it as interest! Should have paid you sooner.

Unfriending someone because of money is not good, but if the person hasn't made any intention of repaying the money, the best thing to do is to wait I am sure he is going to be in need at a point in time and when he comes back again just tell him to go to hell.

If you are honest enough,then you should return that 0.1 BTC back to your friend irrespective of its huge increase in price.Even my friend gave me 0.2 BTC in september as credit and now,i have to return that amount to him only in bitcoins and not as per the USD value of 0.2 BTC at that time.But since bitcoin price is continuously increasing,every thing should be already mentioned to avoid unnecessary disputes.

Now that i think of it, lending bitcoin doesnt seem like a good idea... Would you still take the payment in bitcoin if the price had crashed? These things should be settled with USD value imo

How much is .01 that time?  Its unfair to him if you will demand to get back that amount as Bitcoin has already rise a multiple times. Charge him with interest.

By the end of the last years and exactly in December 21, 2016 1 bitcoin is worth 438 american dollar. While now, after exactly one year, it's worth 17 000 american dollar. Which means that the value has been multiplied almost by 40 during this year. As a result, either we agree that I have given him money that he must repay me the amount in bitcoin whatever is its value in the US dollar. Else, I can have the same sum in dollar and that's what I deserve.

Such case happened to me a few weeks ago, I borrowed some amount from my friend in BTC and cashed out as I wanted cash for some purpose. At the time of borrowing, I told my friend that I will repay the amount in BTC and then BTC went up at the time of repayment and I had to pay the excessive amount to him since I didn't have any BTC with me at that time. Similarly in the above case, if any friend owes something, he will repay as committed irrespective of the circumstances.

If he/she was my true friend 0.1 btc should have been paid not longer than a month, 0.1 btc back then isnt that much so it be paid without the hassle of waiting for a whole year.

If you means by online friend, well .. just forget it since you have spend a lot of money even if you want find his/her location

But if you means by your local friend, you can come into his/her house and try to speak carefully since money can't change everything

~Everything Need Money / Bitcoin

True but there are not many people that are honest enough to pay you back in full, that is why, whenever you make a loan you need to specify a term for the loan, in fact I will recommended following the same practices recommend in the forum, do not lend anyone any money unless they have a collateral that way if they are unable to pay you, you can sell the collateral.

You can't charge him interest if there was no agreement. If you haven't told him to pay up until a certain date then there's not much that you can do. To make him pay it back you'd have to go to court and prove that it was a loan, not a gift.
If it was my friend I'd ask him to give it back (with no interest of course) and threaten to end our friendship if he doesn't.

Here's how the scenario should go. Since you're friends he should be willing to give you back the 0.1 bitcoin since you'll be losing value if he doesnt and you should not take it and instead ask him to return you the value that he took when you lent him the money, and from now on you should never lend someone bitcoin since its really unpredictable and would cause alot of problems.

The point is Bitcoins volatility. If you lend someone 1 Bitcoin, do you lend the value at that moment or a Bitcoin that could be worth either $1 or $100000?
Besides, why should you lend anyone a Bitcoin or part of it. And if you have lend it to your friend and you both agreed that it should be returned in a year, then you should get it no matter what the value is. So, you both made a bet and in this case you would have won, with the increased price of Bitcoins.

you should lend him fiat instead bitcoin, if he is just friend you should ask him for the value of fiat instead the value in bitcoin. you are the responsible of that decision

You literally have zero recourse unless you wrote it down because if you use verbal threats you are threatening somebody same as physical threats. Now your only recourse it to hope that person is a good soul and returns that money back to you. Easier said than done of course and I doubt they will want to pay you the 20x increase that has happened in that time. Sucks to lose that $100 sucks even more it is now worth $2k almost.

Sometimes you have no other option, 0.1BTC is a lot of money in the third world and while that may not be a lot of money if you live in the first word as bitcoin gets more expensive that 0.1BTC gets even more valuable, so if your friend does not pay you then you will need to cut that friendship since that is a person that is not worth of your trust.

You actually have zero response unless you recorded it in light of the fact that on the off chance that you utilize verbal dangers you are undermining some person same as physical dangers. Presently your lone plan of action it to trust that individual is a decent soul and returns that cash back to you.

I have friend borrow my btc and never return earlier than Dec 2016. And for the price of btc now, it does not look like I have hope that my btc will be returned ...

If that friend owes me 0.1 BTC then he has to pay me 0.1 BTC back. It's not that hard to earn it back though, there are enough opportunities.

if you had lent your friend a pineapple, he would not give back a coconut

If a friend ows you 0.1 Btc from Dec 2016...

First you have to make sure he remembers the private key, then you need to make sure he remembers you.   ;)

I would be on him like butter on bread. Seriously? I will move in with him and monitor my investment. Lol

I'd have to subject him to slave labour until he had repaid my debts, send him down to mines to dig for diamonds and rubees until he has sufficiently repaid my debt plus interest, plus additional costs for the mental distress I endured for not having the 0.1BTC.

But more likely, I'd forget about ever reclaiming that money as it is obviously long gone. At least ask them when they'll pay it back, right now 0.1 is about $1100, so they can just pay you $1100 cash.

I am always following 2 types of dealing : 1. USD value based 2. Fixed BTC amount based. So, there will be no problem for me to  get paid or to pay any loan or pending amounts. It is mandatory to clear terms well in advance how are dealing after getting into cryptos. I am running few freelancing jobs and I have different payment terms.

If the case of bitcoin was falling down from $20k to $10k from 2017 December to January 2018. What a person can do if he owes 0.1 BTC from those times. So, how the initial terms agreed is more important for repayments.

...he is still owing you 0.1 BTC. The lending has been done in BTC and in BTC it must be returned. Unless specified otherwise. If the friend was in need of cash, why would the lending not have happened in FIAT?

True. The correct statement! Meanwhile, I would remind my friend about it, and I will not feel confused. He must return 0.1 BTC at least (if he is a true friend) or even more with%% if he is just a buddy.

If your friend owes you that then it is your right to ask them to pay for it,
But I really doubt that your friend would pay you with Bitcoin maybe your friend would just pay you with Fiat ,
But with the price of what he/she borrowed .

No shy and no compromise with bitcoin and  crypto currency so you are saying very right that it is too much long time period so remainder is needed for it, maybe he is not aware of it or maybe he forgot about it. So according to me bitcoin has become very high in price since 2016 and it is not good to hold peoples bitcoin for that long time, it is your right to remain him/ her about your bitcoin.