Topic: Friend borrowed 4 digits money from me, saying wait until BTC rises - page 2. (Read 266 times)

We can talk for as long as we want and speculate all we want but they're all futile. How would anybody here know what's actually happening to your friend and your money?

I guess it is about time that you frankly inquire from your friend. Confront him/her about the state of your funds. Ask him/her how things are going and what exactly did he/she do with the money. And then ask for some proofs.

By the way, have you agreed on specific terms and conditions of the loan? Was there an agreed timeframe for the payment? Would the payment be made on a one-time basis?

For heaven's sake, both of you should be maintaining a very open correspondence on the developments. All of us here are clueless. This involves a relatively big amount so your friend, and I hope he/she really is your friend, should understand if you are raising questions and requests for updates every now and then.

First of all, you took the risk of lending him your money. If you know him, you should've taken care of how much you will lend him without any risk for yourself and how much it can affect your lifestyle. ^{Hopefully, this doesn't affect you much}

If he ever traded on the account, you should've been updated on the progress because you are the one who funded the operation that he has. I think you should be the one handling the trading account to make sure he cannot just use your funds with that. It's going to be hard to validate if you don't hold or control the account used. In this way, you can verify all the trades there and see if they are used correctly. He cannot hide anything from you with that.

I think you should ask him for verification of the balance. Depending on where he is holding it, you should still be updated on it. I hope you find a way to be okay with it. Sometimes, money is what destroys friendships.

Believe it or not, it depends on you. It can be honest words from your friend but also can be a lie. I don't know and perhaps you don't. Only your friend knows what he is doing.

Having multiple screens don't help to increase your effectiveness from trading. Increase the frequency of trading does not help to increase profit. Key point is if you are bad trader, all of such can not help.

Additionally, day trading is very risky and if a bad trader practices day trading, all capital will be lost.

Borrowed right? The profits will be shared equally with the context that he will do the trading or anything to make it grow. 6 months is really long, Im afraid he is hiding something from you, like the money is already down or gone. Im afraid a day trader would not go to that extent or long period to update you regarding his activity since he is doing a day trading from the word itself does have pogress daily. I dont think as well its good idea to lend someone fund and do the trading for you. Im not sure if you are just helpful to your friend or making business with this kind of method.

It is hard to tell just by reading your topic, what your friend might be doing with the borrowed money?

If he is doing day trading then he might be a pro to make a profit in this volatile market. At the moment we are in a bear market and it is very hard to tell when the bull market will return. I am not sure why did he commit to you the Bitcoin price would pump by December this year. No one has been able to predict when Bitcoin will pump. I would recommend you to wait till December and then question him if he is unable to deliver what he promised.

I will tell him to give me an exact number to what he will be going to give to me in X months, I think that's all I can do, but what I really wanted to know but I don't know how to explain it, was: he is making money during this period right? because otherwise why asking me the money 10-12 month before his presumed bubble? other than day trading with my money

I would not know the steps to make a _personal_ exchange generated report (not the one that you give to the government as it is not ready to give to the government yet since the year is not finished, I'm not expert in this obviously, as you all can see) it would be interesting to have a report tho

Could you make yourself seem interested in what he's doing? Ask if you can get a read only api key or an exchange generated report to see how well he's doing since you leant the money to him.

You might just have to wait though, I hope he's not into gambling as december sounds a bit arbitrary for selling the funds...

We don't know what he is really doing with your money. But do you have some kind of agreement when to return your money? So whatever is his business in his crypto trading, as long as he is paying on whatever arrangement you have, that's fine. But if the arrangement is not clear, then, better start making clear it with him. Before you will receive bad news that he lost all your money to his trading and he doesn't know when to pay up.

Hello, my friend borrowed from me 4 digits money (more than half 5 digits) since 6 month already , and we're supposed to split the profits and he's saying he's waiting for the bitcoin to be at high value to sell what he bought. I said to him, aren't you supposed to make money with what I gave you by doing day trading stuff, he said no because his excuse is: He's sticking to the BTC currency and if he sell some while it's higher he will have to buy it again (not really sure of his excuses, anyway it doesn't seems to be real)

I suspect that he is doing day trading (he said to me that he reads hundreds of webpages and watches videos on crypto so..) and he bought a second laptop to have multiple screens, just for crypto. I suspect that he's doing money with my money and invented a story about selling BTC on December when the BTC will rises "before going stable for 3 years" so he said, then he would give me some kind of earnings that we would split.

My question would be: does he obviously hiding a lot of earnings from me in day trading, that he would do from Mars to December? Or is he legit to say he is just waiting all this time the good time to sell BTC when it will be a good time(with a new laptop just for crypto that he bought, not a expensive one, but anyway)