

Man offers to sell house for Bitcoins - dan1234
http://arstechnica.com/tech-policy/2013/03/man-offers-to-sell-house-for-bitcoins/

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rheide
Hm, I feel compelled to upvote this because I own bitcoins and any promotion
of bitcoins will likely result in an increase in value, but I can see how it
will result in HN being full of meaningless articles about bitcoins.

Incidentally, by placing this comment I've out-meta'd myself.

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eah13
Transactions like this are the beginning of regulators getting interested in
Bitcoin. If the entire transaction was done in Bitcoin instead of Canadian
dollars, how could the government tax it? They could I suppose call it a
barter and tax it under barter tax laws. In North Carolina property can be
exchanged for "any valuable consideration" and a tax is due to the state
according to the value of the consideration exchanged. Lot of interesting
issues here.

But I agree with TorKlingberg that the fact that he didn't price it in Bitcoin
is a little disappointing. Though I believe the value of the house would be a
distressingly high percentage of total daily volume of Bitcoin exchanges.

~~~
nawitus
While I'm not familiar with Canadian law, I think the same law which applies
to any foreign currency would work here. I don't think you can avoid taxes by
using a certain currency. The government can simply determine the value of the
bitcoins and then tax based on that.

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TorKlingberg
It is worth noting that he is asking for $405,000 Canadian worth of Bitcoin,
not a fixed number of Bitcoins. As long as people as selling things for "$X in
Bitcoins" is doesn't really provide any liquidity for Bitcoin. Of course,
nobody wants to take on the currency risk of setting a fixed price in
Bitcoins, until Bitcoin gains more liquidity and stability.

~~~
rheide
Very good point. It might even be cheaper to offer it in bitcoins, tax-wise,
depending on government regulations.

(off-topic: are you the Asahi Kasei Tor? long time no see!)

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lifeformed
The link at the bottom of the article
(<https://bitcointalk.org/index.php?topic=137.0>) is awesome. Just 2 years
ago, someone paid 10,000 BTC for a pizza. That was worth $40 USD back then. If
he saved it, he could've had $600,000 USD...

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yawniek
i wonder when those cornering the market start to unload. i guess some already
have a decent amount of FY money in coins. so why should they wait for
regulations or even bans other than pure greed?

