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Author Topic: If a friend ows you 0.1 Btc from Dec 2016 ...  (Read 1022 times)
BartS
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December 09, 2017, 08:02:06 PM
Last edit: December 14, 2017, 08:26:36 PM by BartS
 #21

... what would you do now?  Huh
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.
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December 10, 2017, 11:57:33 AM
 #22

... what would you do now?  Huh
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
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.
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December 10, 2017, 12:33:18 PM
 #23

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.
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December 10, 2017, 12:36:16 PM
 #24

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.
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December 10, 2017, 12:37:53 PM
 #25

... what would you do now?  Huh

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.
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December 10, 2017, 01:04:38 PM
 #26

... what would you do now?  Huh


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.
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December 10, 2017, 01:05:49 PM
 #27

... what would you do now?  Huh

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!

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December 10, 2017, 01:37:15 PM
 #28

... what would you do now?  Huh

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!

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December 10, 2017, 01:50:43 PM
 #29

... what would you do now?  Huh

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.
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December 10, 2017, 01:56:52 PM
 #30

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.
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December 10, 2017, 02:03:19 PM
 #31

... what would you do now?  Huh
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.



 

 

 

 

 

 


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December 10, 2017, 02:06:12 PM
 #32

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.
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December 10, 2017, 02:13:55 PM
 #33

... what would you do now?  Huh

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"
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December 10, 2017, 02:14:25 PM
 #34

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
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December 10, 2017, 02:23:37 PM
 #35

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

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December 10, 2017, 02:32:51 PM
 #36

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.

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.
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December 10, 2017, 02:37:42 PM
 #37

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

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December 10, 2017, 02:41:19 PM
 #38

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...
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December 10, 2017, 02:47:56 PM
 #39

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

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December 10, 2017, 02:55:38 PM
 #40

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.
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