- Fat-Lip-Sum-41.mp3
- Nov 15, 2003
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Story + question about bitcoins:
I have a friend who has been dating a new partner for about 4 months. My friend has a good job and savings of about $40 or $50k. Her partner wanted to return to university but lacked the means to pay and he asked if he could borrow tuition for a year (about $6000). My friend wasn't comfortable loaning that sort of money for a 4 month old relationship causing her boyfriend to offer to give her $6000USD worth of bitcoins as collateral for the loan.
My friend isn't that computer savvy and didn't know what a Bitcoin was so her partner set about studiously showing her magazine articles, pages printed from webpages, graphs showing their value over time and gave assurance after assurance that bitcoins were a real thing. She was still worried and, in the middle of an argument, her partner promised her his entire Bitcoin fortune (worth about $15,000 USD) as collateral for the $6000 loan. Wanting to avoid a longer argument she said yes and he set about putting the bitcoins in her name.
Since then, he's been needling her and making snide, passive aggressive comments about how she's holding onto his entire retirement savings and making allusions about how unfair it was that he had to turn over $15,000 (which is apparently worth $18,000 now) in exchange for a "mere" $6,000
Anyway she's sick of it and wants to cash out $6,000 worth of bitcoins so she can settle the loan and then send him back the remaining bitcoins so this doesn't keep coming between them. Except she doesn't know how to convert her Bitcoin fortune into real money and asked me to help her.
My question is, how screwed is she?
Odds are decent that this arrangement isn't legally enforceable at all and she could probably cash out all of it, dump him, and keep it.
It would cost a couple hundred bucks to talk to a lawyer about it. She should do that.
This is a public service reminder to young people that lawyers still exist, they do offer valuable services, and they are not monsters.
Fat-Lip-Sum-41.mp3 fucked around with this message at 14:44 on Jan 18, 2016
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Jan 18, 2016 14:42
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May 15, 2024 15:45
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- Fat-Lip-Sum-41.mp3
- Nov 15, 2003
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An illegal drug market is more honest than 95% of bitcoin businesses.
As they are, at some point, backed by people with weapons.
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Jan 19, 2016 00:27
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- Fat-Lip-Sum-41.mp3
- Nov 15, 2003
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Are you saying guns make people honest?
consequences keep people honest
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Jan 19, 2016 02:49
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- Fat-Lip-Sum-41.mp3
- Nov 15, 2003
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Any lawyer that doesn't laugh in her face with this story is probably scamming her themselves. I posted the story because it was funny; she's lost the 6k and I think she knows she lost the 6k. Dunno what she plans to do with the bitcoins that are apparently in her name but who even knows if they're in her name; I mentioned a few points raised in this thread to her about ownership and she started to pale and then start googling things on her phone.
She'll be fine, $6k is an expensive lesson but this sort of life lesson is priceless.
So she'll not even go to small claims court over this if she doesn't get the money, despite this sort of thing being exactly when small claims is for?
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Jan 19, 2016 13:54
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Jan 18, 2016 14:42
