Here’s something a little different: A home in the Vancouver suburb of Coquitlam is on sale on Craigslist.A measly-sounding 2,099 bitcoin.But that’s not chump change — it’s C$4.85 million at current exchange rates, pricey even by Vancouver standards.The house is described as “new” in the ad and looks unlived-in in the pictures provided.The ad appears on the Vancouver and Hong Kong real estate pages of Craigslist.It doesn’t list the number of bedrooms or bathrooms, or the square footage.Just that the owner will sell for bitcoin or Ethereum, another cryptocurrency.The ad mentions that the house is in “one of the hottest markets on the planet, voted #1 place to live in the world.” That claim might be a little outdated at this point.Vancouver’s housing market has seen considerable cooling over the past year.In the wake of a provincial foreign buyer tax and China’s crackdown on cash outflows, buyer interest has slowed.Home sales have fallen for much of the past year; nearly half the money flowing through the market has vanished; and price growth has stalled.

But if this ad is an indicator of anything, it’s that foreign buyers are still playing in Vancouver’s housing market -- they’re just doing it more on the sly now.China has been cracking down on cash outflows from its economy.The country’s investors, who are allowed to take no more than US$50,000 out of the country, are now required to sign a letter saying they will not use their money to buy residential real estate abroad, among other things.tutor for bitcoinThe crackdown has left many Chinese investors looking for new ways to get their money out of the country.ethereum get involvedIncreasingly, it looks like the Bitcoin cryptocurrency — which has neither the transparency nor the regulation of regular currencies — is the way many are choosing to do it.litecoin earn money

The Chinese government earlier this year started tightening its oversight of bitcoin, having noticed that the decline in China’s renminbi coincided with a rise in the value of bitcoin.Some 98 per cent of bitcoin transactions had taken place in China recently, the Financial Times reported.So… a Vancouver house with an unidentified seller, seemingly unoccupied, posted for sale in Hong Kong and asking for payment in cryptocurrency … you put the pieces together.bitcoin transaction floodingAnd if you’re planning to buy a house in Vancouver, you may want to stock up on some bitcoin first.yahoo bitcoin malwareComing Soon: The Home Stretch Our weekly newsletter delivers the news and analysis you need on Canada's housing market.unterschied bitcoin euro

Sign up below and don't miss the first issue.bitcoinBusinessbusiness videohouse for sale in bitcoinhousingReal EstateReal Estate Vancouvervancouver homes for salevancouver housingvancouver real estateby Tyler Durden In February 2016 we explained, correctly in retrospect, that the reason behind the unprecedented surge in Vancouver home prices was the seemingly constant flood of "hot Chinese money" desperate to park itself as far away from China's banking system, and into offshore real-estate.litecoin value graphThis is how we laid out the stylized sequence of events that culminated with Vancouver home prices surging by over 20%: Chinese investors smuggled out millions in embezzled cash, hot money or perfectly legal funds, bypassing the $50,000/year limit in legal capital outflows.bitcoin good hashrateThey make "all cash" purchases, usually sight unseen, using third parties intermediaries to preserve their anonymity, or directly in person, in cities like Vancouver, New York, London or San Francisco.ethereum python

The house becomes a new "Swiss bank account", providing the promise of an anonymous store of value and retaining the cash equivalent value of the original capital outflow.Then the owners disappear, never to be heard from or seen again.Separately, in mid-2015, when bitcoin was still trading in the low $200s, we also predicted that in an attempt to bypass China's increasingly more draconian capital controls, Chinese oligarchs and ordinary savers would increasingly turn to what at the time was a largely unregulated medium of exchange: bitcoin.we would not be surprised to see another push higher in the value of bitcoin: it was earlier this summer when the digital currency, which can bypass capital controls and national borders with the click of a button, surged on Grexit concerns and fears a Drachma return would crush the savings of an entire nation.Since then, BTC has dropped (in no small part as a result of the previously documented "forking" with Bitcoin XT), however if a few hundred million Chinese decide that the time has come to use bitcoin as the capital controls bypassing currency of choice, and decide to invest even a tiny fraction of the $22 trillion in Chinese deposits in bitcoin (whose total market cap at last check was just over $3 billion), sit back and watch as we witness the second coming of the bitcoin bubble, one which could make the previous all time highs in the digital currency, seems like a low print.

With one bitcoin now going for roughly $1,800 - and with the PBOC repeatedly cracking down on all forms of bitcoin cross-border flow - this prediction also turned out to be right.So putting the two together, at least one enterprising Canadian homeowner has decided to make life for potential Chinese buyers especially easy, and in a posting on the Hong Kong edition of Craigslist, has listed a relatively modest Vancouver house for the price of 2,099 bitcoin.Bitcoin New House for sale 2099 btc (Vancouver,Canada) Brand new house for sale in Vancouver, British Columbia, Canada.One of the hottest markets on the planet,Voted #1 place to live in the world.Bitcoin and Ethereal accepted.2099 btc.For more information please respond to Ad.The house is located in Coquitlam.At today's exchange rate of US$1,737 for one bitcoin, the US dollar equivalent price is roughly $3.6 million or C$4.9 million.So what does nearly five million Canadian dollars buy enterprising Chinese investors who are willing to pay up for the convenience of bypassing currency conversion into Canadian dollars altogether?