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Crowsnest Pass home selling for digital currency, experts say Bitcoin “like the Wild West”

An online listing of a Coleman, AB acreage being sold for digital currency shows a view of the Crowsnest River. ForSalebyOwner.ca / Taylor More

Two bedrooms, one bath, a workshop, and nearly three acres of land.

Situated on the Crowsnest River, this Coleman real estate listing has a gorgeous view.

“It’s great for any handyman or craftsman,” said the seller, Taylor More. “Lots of open space to put your tools, work on cars.”

It could be yours for $405,000, or, a few thousand Bitcoins.

“I’ve used (Bitcoins) for online purchases,” More told Global News via Skype from his home in Nashville, Tennessee. “It’s the simplest thing I’ve ever used, so much better than credit card transactions.”

More is a currency trader whose family has ties to southern Alberta, which explains the Crowsnest Pass property.

As for explaining Bitcoin, it’s a digital currency first launched in 2009, being traded today at over $100 Canadian, and gaining traction worldwide.

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“The idea behind Bitcoin is doing transactions without a bank or central authority,” according to Fergus Raphael, a Lethbridge-based web expert who runs Tangle Media. “It’s totally open, like the Wild West.”

Raphael likens Bitcoin to other digital currencies, including those in video games. Since there’s no paper tender, Bitcoin is generated through a form of digital mining.

“Every time a transaction happens on one part of the network, it gets sent to a person on another node and they can verify that,” he said. “They collect a small transaction fee which creates new value of Bitcoin.”

In selling the property, More has said the listing price is open to negotiation. His goal is to get his hands on as much Bitcoin as possible, calling it an investment.

“People are traveling worldwide, buying things overseas, and we need a currency that can keep up with our fast-paced lives.”

Others believe if you’re unsure, it’s best to stay away, at least for now.

“That said, if you don’t mind some uncertainty, if someone came to me and wanted to pay with Bitcoin, I might let them,” said Raphael.

More added, “A lot of people might think I’m crazy, but no risk, no reward, right?”

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