TORONTO – An Alberta man is attempting to sell a piece of property, valued at $405,000, hoping to get his hands on a large amount of Bitcoin – a decentralized peer-to-peer digital currency.
Taylor More listed the home on ForSalebyOwner.ca boasting of “beautiful mountain views” along the Crowsnest River front.
But the interesting part of the listing is the type of currency More is asking for from potential bidders.
He is asking to trade the 2.9 acre property for Bitcoin – a digital currency that allows the user to send money from anywhere without restrictions.
“Bitcoins are really hard to get your hands on in big amounts and I thought it would be a good way to get my hands on it,” More told Global News.
The former currency trader and self-proclaimed entrepreneur is hoping to acquire a good amount of Bitcoin for business reasons.
Bitcoin uses peer-to-peer (P2P) technology to operate without using banks and is not produced by a government, or backed by a national currency.
Using Bitcoins allows users to send money directly to each other, without having to go through a bank, making fees much lower and allowing for international use of the money.
The currency, stored in a digital wallet, can be transferred between users in a matter of minutes.
It’s estimated that the current total worth of Bitcoin in circulation totals just over $700 million U.S.
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More, who recently discovered Bitcoins, thought the idea was revolutionary and was immediately interested in the concept due to the high cost of traditional money trading.
“In the global world we live in today, you are traveling internationally and buying things across borders. We need a currency to buy things fast and cheap and that’s what this is,” said More.
“About time we integrated tech into money.”
Though the asking price of the property is listed as $405,000, More said he would be willing to accept a partial payment in Bitcoin, or even rent the property in exchange for the digital currency.
His listing reads, “If a partial or whole transaction done using Bitcoins, the price can be reduced depending on how many Bitcoins you have to trade.”
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