...! posted:

I loaned a close friend a substantial sum of US dollars and cryptocurrency. I have in writing (text messages) his guarantee of full repayment (i.e., promising the loan was risk-free). The money was due last summer and I've been waiting ever since. Do I have any legal recourse here?
(self.legaladvice)
submitted 3 days ago by manwhoneedslegalhelp

Between October 2017 and April 2019, I periodically lent a close friend of mine cryptocurrency (BTC and ETH). He told me the funds were being used to make markets and provide liquidity in cryptocurrency exchanges overseas, and for about a year and a half he paid me handsome interest on my loans. I never pressed him for more information / proof about the use of the funds, but in hindsight my guess is he was actually using the funds to either gamble on sports or as leverage to speculate on cryptocurrency prices. We always discussed our transactions over text message, and I was always clear / explicit in the terms of the loans and our arrangements / expectations. Over this period, we established trust and a healthy business relationship. In addition, we've been friends since freshman year of college (I'm 26), I've met his family, we've got lots of mutual friends, etc., so him ghosting me wasn't really a concern.

In May 2019, I lent him $25k in US dollars, and approximately $20k worth of BTC and ETH. The US dollars were due in September 2019, and the BTC and ETH were due in June 2019. He claims (but has not provided evidence / proof) that his cryptocurrency is currently locked up in an exchange, and that for various / vague security reasons he's having trouble gaining access to his account on the exchange. Further, he claims he's having bank / wire issues, and that's why he's been unable to send along the US dollars. I've been patient with him because we're friends (or used to be friends, at least) and I'd prefer not to escalate the situation (get lawyers involved, reach out to his parents, etc.), but at this point I need to seriously contemplate alternative measures to recoup these funds.

For months, he's provided every excuse under the sun to justify delayed repayment (bank issues, travel, illness, etc.). At this point, I'd like to operate under the assumption that he won't repay me unless I seriously escalate the situation. What I've come to this subreddit to understand is any legal options I may have, whether I have a legal right to recoup these funds, etc. In terms of documentation, all I've got are text messages in which he promises complete repayment and characterizes the loans as risk-free. I'm happy to provide the actual language if helpful, or to provide any additional information if needed. Thank you in advance for the help!

Boxturret posted:

...! posted:

Hammerite posted:

Chris Knight posted:

lol

https://twitter.com/lisaforteuk/status/1219170750445301760

Midjack posted:

you’ve discovered my posting technique, I see.

Alan Smithee posted:

sir

that's buttcoin mining

...! posted:

Boxturret posted:

by blocking the bad smilie ...! becomes a happy emptyquoting guy:)

CampingCarl posted:

are you implying he was born hodling?

...! posted:

*runs into thread, gasping for breath*

did someone say... buttcoin? i thought i heard it

Mammon Loves You posted:

"As a libertarian, ...!"

...! posted:

Weatherman posted:

Boxturret posted:

i can't believe he included the transpotime 21 bus going through a black worm hole

orange juche posted:

...! posted:

Boxturret posted:

don't kinkshame

...! posted:

https://mobile.twitter.com/RealRossU/status/1229917277711028224

...! posted:

Does anyone buy some for family just because you know that they will not get in and when BTC explodes in the next few years that you will give them some?

Boxturret posted:

i like when you can tell someone is literally shaking whilst`ve typing

klafbang posted:

What we need is moor americas. Sure, we’ve got North America, Central America, and South America, but what about east America and west America and democratic republic of America? Moor Americas now!

...! posted:

https://mobile.twitter.com/RealRossU/status/1232331036509405184

Hammerite posted:

and before anybody gets any ideas, if you consult my fee schedule you'll see that calling me incurs a charge of $100,000 per , so think carefully before you affront the postmaster general (me) with your gold-fringed knavery

KnifeWrench posted:

you guys know that's an n, right? that it says "moor anericas" but that his signature overlaps it?

...! posted:

buttcoin

Wutang-Yutani posted:

Still smarting from this one.
Hey you're not the weatherman that used to post on a certain orange forum are you?

Lambert posted:

I really miss the gold ingots/woolong device/dried strawberries days of Bitcoin. Way more fun when the grafts were more creative or even sincere.

...! posted: