Timothy Coles is Selling His $2 Million Gold Mine for Bitcoin

[CryptoCurrencyInc.com]

Timothy Coles is betting big on Bitcoin
http://www.coindesk.com/timothy-coles-2-million-gold-mine-bitcoin/

[dreamspark]

This could be a great hedge for some of the more welathy BTC owners that are around. After two years you have your investment back and can then produce your own gold.

[maurya78]

In theory a good hedge but mining for gold is not a simple process sans domain expertise and tech investment
Let's wait and see how this plays out

[InwardContour]

Timothy Coles is betting big on Bitcoin
http://www.coindesk.com/timothy-coles-2-million-gold-mine-bitcoin/

If the sale will end well there will be another wave of adopters coming in the bitcoin business, I hope some whale will buy it soon.

[minerpumpkin]

Miners have a thing for work in hot conditions, uncertain chances for success, eating out of tin-pans, and being trapped by a rock-slide.

[kittycatbtc]

Good move. Gold is worthless.

[tooil]

Good move. Gold is worthless.

Russia and China central banks holding a lot of gold. You think you know more than them?

[ljudotina]

Good move. Gold is worthless.

This is just plain and simple ignorant. As much as i love bitcoin, i still think that gold will be valuable much much longer than Bitcoin. Bitcoin will eventualy be replaced (in 5...10..50...100 years, doesnt matter) with coin that is more advanced, but gold will never be replaced untill time comes when human kind can produce gold out of another materials that have no traces of gold in themselves.

And to be able to produce gold out of other materials you need energy of two colliding dead stars. And once we get there, money will be irrelevant all together.

[kittycatbtc]

Bitcoin is more valuable than gold in the future IMO.

[leex1528]

So is he basically putting everything he owns into Bitcoins?  That doesn't seem like the smartest idea...Never put all your eggs in one basket.

[dreamspark]

In theory a good hedge but mining for gold is not a simple process sans domain expertise and tech investment
Let's wait and see how this plays out

This is absolutely true, hence why you might want to take him up on the offer of his willingness to stay on to manage the property for up to five years to ensure the operation runs smoothly 

[TrailingComet]

Gold has decent intrinsic value, really a good hedge if you have that kind of coin
Is Timothy Coles somebody famous we should have heard of?

[BitcoinMillionaire]

A GOLD-mine? Wow jeez!!! Where is this thing? Is is near some big town with young people? I'd love to turn this thing into a club or something! Imagine it, glittery walls, the old lorry-tracks...! I'd call it 'The Gold Digger' 

[troleybüs]

That's one of the good news we are looking for.

[tss]

i doubt this deal would happen in btc but its good to see selling businesses for btc

whats the most expensive thing actually sold for bitcoin?

[waldox]

most likey a larger miner will buy it with cash converted to bitcoin

not many bitcoiners know how to run a gold mine

[dreamspark]

most likey a larger miner will buy it with cash converted to bitcoin

not many bitcoiners know how to run a gold mine

No one will convert cash to BTC they will just pay with cash, the BTC thing is like free advertising.

[sandykho47]

A great news 
Gold price is stable, when BTC price will went up

good move timothy coles 

[bryant.coleman]

Old news. I first noticed the listing on Bitpremier several months ago.

https://www.bitpremier.com/1-other-luxury-items/540-profitable-gold-mine-dawson-city-yukon

The gold mine is located in an extremely remote part of Canada, in the Yukon territory. Also, I am not sure whether the non-Canadians are allowed to purchase and operate it.

[BitcoinBarrel]

Mining for gold is a great HOBBY, but very rarely do any commercial mining operations produce a profit.