My friend gets random nose bleeds and coughs up blood randomly as well is that a sign of some kind of cancer?

Nose bleeds: I'm going to resume that your 'friend' is near to your age. Even if they are twice as old I would think cancer is NOT the most likely diagnosis. The most benign possibility is friable nasal tissue that bleeds chronically (and he could cough that as well). More seriously, they may have abnormal blood coagulation for many reasons. See a doc for evaluation.