Showing bitcoin "assets"

[Michael Garnto]

Alright everyone, well long story short I am buying a personal property at the moment. Earlier this year I cashed out enough bitcoin to pay off a car loan in anticipation of buying a house. At first they simply asked for proof of transaction, ok easy, printed off a paper with me signed in showing the specific dollar amount sold and withdrawn to my checking account. Now they want quarterly statements and proof the funds are mine along with asking to show all current assets in it.

What the crap do I give them? What they are asking for quite literally does not exist. I can print a "statement", but it's just going to say x amount of btc was transferred into this account, cool that tells you nothing more than what I've already given them.

I know this comes down to them just not comprehending how bitcoin works, but how do I give them enough to make them happy? Or maybe even just how should I explain it to make them realize what they have is all that exists to give.

[Jeremy Rusnak]

I think the main thing is for them to know the coins were yours for a certain time period before you paid off the loan.  

Maybe a copy of the blockchain transactions showing you move the coins into your paper wallet and then back out to Coinbase prior to converting them to pay your car loan?  This would give you a third party source to show when you originally acquired the coins.

I keep most of the coin I am going to need for these kind of purposes on Coinbase partially for this reason, it's easier to show the trail and point to a US company than try to explain paper wallets and all of that stuff.  Unfortunately have to take a little more risk to make sure the coins can actually be used.

Unfortunately at this stage, especially when you involve RE transactions, leveraging things like bitcoin means your part evangelist by default.