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)
Are you "supposed to split the profits" or have a clear agreement on the distribution of potential profits? there is a difference and that can make a problem.
if he hasn't promised you anything firmly in terms of earnings sharing, then you don't have to expect much. surely he has earned something so far and if he had the will, he had to give you at least some profit payout.
and if you have a profit-sharing agreement, who takes the risk if things go wrong?
I definitely have to ask you, how did you come up with to lend someone money, expect some potential profit from there, and in fact, you know nothing about that matter and are completely ignorant of how everything works?