Alberta Man Attempts to Sell His Home For Bitcoins

Are you in the market for a new vacation home in the Rockies, and have 5,800 Bitcoins you’d like to spend?

Well then you’re in luck, because an Alberta man trying to sell his family’s vacation home is willing to do the deal in the virtual currency.

Taylor More, who currently lives in Nashville, Tennessee, is hoping to sell a two-bedroom, one-bath bungalow in Crowsnest Pass, Alberta for either $405,000, or the equivalent in Bitcoins.

More, who only began collecting Bitcoins this month, told the Globe and Mail that he sees the listing as “testing the waters” for an unnamed future venture.

Introduced by a developer in 2009, Bitcoins are a decentralized digital currency based on an open-source, peer-to-peer Internet protocol. They can be exchanged or traded over the Internet directly through a website or a wallet file and one bitcoin is subdivided into 100 million smaller units called satoshis.

Popular with people who like their privacy, they can be used on some gambling websites as well as Silk Road, a black market site that sells illegal drugs.

#Bitcoin spikes in value, prompting fears of a new bubble dly.do/Xt47ky

— The Daily Dot (@dailydot) March 22, 2013

More, a 22-year-old currency trader, maintains his interest in them is on the up-and-up.

I really wanted to get my hands on some Bitcoins and they happen to be quite hard to get if you want to get a large number of them. I kind of just said [to my dad], ‘Let’s be the first to do it. Let’s be the first to try and sell some real estate for Bitcoin and see what happens.’ Once I explained it to him, he was on board.

So, while listing the family vacation home, he spelled out that he’d happily accept Bitcoins, as well as cash if the price was right.

The home, located next to a river, sits on 2.97 acres of land and is nestled deep in the Rockies.

However, those interested and with Bitcoins to spare should contact More as soon as possible.

The digital currency is currently experiencing a massive spike in value, possibly connected to the Cyprus bailout, and the U.S. Treasury Department has announced it will be imposing financial regulations on the transfer of Bitcoins over $10,000 in value.

“If you want to get a good sense of the stress European savers are feeling, just watch Bitcoin prices.” bit.ly/ZRZbYx

— James Allworth (@jamesallworth) March 22, 2013

According to Paddy Power the odds are 9/4 that the value of 1 Bitcoin will exceed $500 by the end of 2013

— Dawinderpal Sahota (@TelecomsSahota) March 22, 2013

Paddy Power also offering 100/1 on Cyprus adopting Bitcoin as its national currency by 2017. Feel like this is a targetted wind-up…

— Jacob Aron (@jjaron) March 22, 2013

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