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Author Topic: 2013-03-20 BBC News "Canadian man to sell house for Bitcoin virtual currency"  (Read 1356 times)
mccorvic
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March 20, 2013, 08:03:40 PM
 #1

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Entrepreneur Taylor More listed his two-bedroom Alberta bungalow, asking 405,000 Canadian dollars (£261,000; $395,000) - or the equivalent in Bitcoins.

He says the first reaction of his family was that of a shock.

Bitcoins are now a widely used alternative payments system and one Bitcoin is currently worth about £37.

I really hope this bro sells his house for BTC.  It'd be a huge boon for us.  I toats would if I had enough money or had any desire to live in Alberta.

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Mike Christ
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March 20, 2013, 09:02:29 PM
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if this guy sells his house, I'll throw a party for him.

A party paid in bitcoins Grin

odolvlobo
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March 21, 2013, 07:09:15 AM
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This is not the first time someone has tried to sell their house for bitcoins. Check the Goods forum.

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March 21, 2013, 07:18:05 AM
 #4

It is not a good deal because:

1) Real Estate prices in terms of CAD in most Canadian cities are well overdue for a substantial decline.
2) The price of BTC in terms of CAD is likely to go up.


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March 21, 2013, 07:26:24 AM
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It is not a good deal because:
...
2) The price of BTC in terms of CAD is likely to go up.

Because BTC is so easily convertible, its value is not relevant when it is used in a transaction fixed in another currency. In this case it is just the medium of exchange, so its value only matters for as long as you hold it. You buy enough BTC to buy the house (whatever the price is), and then trade the BTC for the house.

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March 21, 2013, 11:37:28 AM
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The big news will be if he actually finds a person who buys the house with bitcoins. That would be interesting.

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March 21, 2013, 01:04:25 PM
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A few years ago you could barely buy a pizza for that amount of BTC.
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March 21, 2013, 09:49:37 PM
 #8

It is not a good deal because:

1) Real Estate prices in terms of CAD in most Canadian cities are well overdue for a substantial decline.


The property in question is not in any Canadian city. It is rural, and is listed as "a simple retreat away from the city".

http://www.forsalebyowner.ca/listing/house-for-sale-crowsnest-pass-AB/124988

Whether it is worth the asking price is in the eye of the purchaser as is the case with all real estate transactions,
but the fact that real estate in some Canadian cities is overheated may not be relevant for this rural property.

I have no stake in the transaction one way or another.

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March 21, 2013, 10:13:47 PM
 #9

It is not a good deal because:

1) Real Estate prices in terms of CAD in most Canadian cities are well overdue for a substantial decline.
2) The price of BTC in terms of CAD is likely to go up.
I know right, I keep telling my wife we should live in a tent with our baby and save money for Bitcoins.. she keeps yapping about how its "cold in the winter" and "you're crazy".

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March 24, 2013, 05:08:18 AM
 #10

For someone like knightmb who had/has 300,000 BTC, then 5000-6000 BTC is nothing.  If I had that much BTC I would likely snatch up this house in a heartbeat  Grin

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