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A Canadian man is prepared to sell his house for the virtual currency Bitcoin.

According to a report at the BBC the chap, who is something of an entrepreneur, will accept money, but apparently prefers the virtual dosh because he needs it for some projects he is working on.

“Bitcoins are really hard to get your hands on if you want to get them in large quantities,” Taylor More told the BBC. “I have a couple projects that I want to get started, and they will take a lot of Bitcoins.”

You can already buy Pizza with bitcoins, or pay for Kim Dotcom’s Mega with them. Wikileaks, which has struggled to be reaccepted by major financial players, also accepts them. They are seen as a quick, secure and easy way to transfer cash – or like cash, anyway – to other individuals.

“It’s an instant form of payment, and there’s very low cost transfer fees,” added Mr More.

“When you send money internationally it takes a week or more to do and costs hundreds of dollars, so I see this as something we’ve needed, an online virtual currency to make payments fast and easy.”

More will accept $405,000 Canadian, roughly £261,000, or the equivalent in Bitcoins. One Bitcoin is presently worth about £37.

More said that his family was a bit surprised when he announced his decision, but the Bitcoin market is booming.

However, it is not without its criminal watchers, and some people have had thousands worth of the currency whipped away from them. In one instance a man claimed to have lost $500,000 in a virtual hack.

via TheInquirer




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