Riverside cottage for sale, Bitcoins accepted

Traditionally when you sell your home, you expect to walk away with some bankable cash. Not Taylor More of Alberta, Canada. He's listed his home for sale via the Canadian version of ForSaleByOwner site and has indicated he's willing to take payment in the online currency known as Bitcoins.

Why Bitcoins? According to the BBC, More explains:

"I have a couple of projects I want to get started, and they will take a lot of Bitcoins," More said, later adding "When you send money internationally it takes a week or more to do an costs hundreds of dollars, so I see this as something we've needed, an online virtual currency to make payments fast and easy."

Alright, so that doesn't exactly answer the question, but at least we know he's a fan of taking the online currency more mainstream. Making their debut in 2009, Bitcoins are not issued by banks. Instead, people can generate Bitcoins by participating in an open source network, performing tasks, or through direct exchange.

If you've gone and generated a stockpile of Bitcoins and you want to buy More's house with it, you'd be getting a two bedroom, one-bath 900 square foot bungalow along with a pretty sweet 2,800 square foot workshop with additional bedrooms. Plus you are getting three acres of some spectacular Canadian river front land with glorious mountain views. The asking price for the house is $405,000 Canadian dollars. Today's value of a Bitcoin (which floats like some other currencies) is just over $67 USD, so you'd have to pony up over 6,700 Bitcoins to buy the house right now.

It sounds crazy to pay for a house via Bitcoins, but that's just the tip of the iceberg. Recent news reports note that citizens of of Spain and Cyprus have been looking at Bitcoin as an alternative as their hard currencies, so its sounds like Mr. More may just be getting ahead of a new Bitcoin trend.

BBC, via DigitalTrends