What happens if the value of the BTC declines below 70k? What range of time do you intend on having the loan due in? You state you are interested in an interest rate in the 6-7% range, is this per year (most likely), per month, per day (obviously no), etc?
I will be happy to post new collateral into the Escrow account, if the BTC value declines below 70K. I am looking for a 2 year term-loan, with a annual interest rate between 6-7% range. Please PM me if you have any other questions.
Just an FYI, the current market lending rate for USD is roughly 0.04% per day on Bitfinex, and after they take their fee, this works out to 0.034% per day. This works out to be ~12.4% per year, and a lender's USD would not be tied up for 2 years. Granted, it is possible that lending rates may decline from current levels in the future, so a lender may not be able to get this high of an interest rate for two years. It is also possible that a potential lender may feel more comfortable lending out USD with a specific escrow agent rather than an exchange such as Bitfinex.
Another key point is that if USD was lent out on Bitfinex (or another exchange in which customers can lend out USD), the borrower's position would be automatically liquidated once the value of the collateral falls below a certain threshold. This is less risky than the lender potentially having to wait for the borrower to deposit additional collateral. I am not sure how to overcome this issue.
I don't think the OP's story that he wants to avoid long term capital gains is unreasonable, although I have not seen evidence that he is in fact holding the claimed amount of BTC.
Ok let's pretend this post/request is real, even though it is NOT:
1-Agree it is not unreasonable to want to avoid paying any higher tax than one needs to.
However, in the world of BTC, it is up to the user whether or not they will disclose their gains/loss to their gov't for the appropriate taxes.
Yea that is not true. If you fail to disclose your net capital gains (provided you have net profits) related to bitcoin, then you will face serious consequences, including garnishing of assets, penalties, and interest payable to the IRS as per current statute and possible jail time, among other things. Further, a $100k sale is likely going to be difficult to hide from the IRS and various financial reports by various financial institutions would likely make it easy for the IRS to spot the lack of reporting of this sale. Further, the OP is offering 7% (per year) for two years, or a total of ~$9,800 in interest over two years, and he presumably would owe significantly more than that much in taxes if he simply sold his BTC -- the penalties and interest resulting from the failure of reporting income amounting to ~$10k in taxes would be substantial.
Coinbase in it's current struggle to decline giving up records I guess I should say specifically, for 2013-2015. And now it's current struggle of just the accounts of over 20K.
The amount in question for the OP is over $20k, so I am not sure why you are stating this. If the OP were to sell $100k worth of bitcoin and withdraw to his bank account, the IRS could audit him, and fairly easily figure out how much he earned via capital gains without even issuing a subpoena to coinbase for the OP's specific account (which it could easily issue, and coinbase would comply with if it was for a single account and valid).
OP - If your BTC is being held by coinbase then signing a message would be pointless because coinbase will only (possibly) allow you to sign your deposit addresses, not the addresses where your BTC is being held -- your BTC is actually being commingled with the BTC of other coinbase customers. If you want to prove ownership of $100k worth of BTC via a signed message, then you will need to withdraw your BTC to an address whose private keys you control and sign a message -- if you do this and your computer has malware (among other potential attack vectors), then your BTC could get stolen, or if you do this, do not have sufficient backups of your private keys, and your computer crashes, then you may lose access to your BTC.....doing this has risks that are different than leaving your BTC on an exchange (both carry significant risks), however you will ultimately need to do this if someone takes you up on your offer.
I am also not sure if the BTC you claim to have in your screenshot is all the BTC you currently own, however if so, then you may end up having that BTC sold on your behalf if the BTCUSD prices declines too much (which IMO is likely in the coming month), which may effectively cause you to both effectively sell BTC at a lower price than you could have today and potentially trigger capital gains taxes, both depending on your specific situation and the terms you and the lender agree to.
