SME Times is powered by   
Search News
Just in:   • PSBs disbursed Rs 82K cr retail loans in 9 days: Sitharaman  • J&K reorganization to promote inclusive growth: Naidu  • Credit crunch  • BSNL staff to get salary before Diwali: PurwarBSNL staff to get salary before Diwali: Purwar  • Sensex up 167 points, auto and banks gainSensex up 167 points, auto and banks gain 
Last updated: 11 Jan, 2018  

Spain.9.Thmb.jpg Spain's first Bitcoin-only apartment sale goes on real estate market

Bitcoin.9.jpg
   Top Stories
» PSBs disbursed Rs 82K cr retail loans in 9 days: Sitharaman
» J&K reorganization to promote inclusive growth: Naidu
» All key reforms in last 5 yrs, claims FM
» Focus on demand rather than on deficits: Nobel laureate Banerjee
» GeM can become India's Amazon: Commerce Minister
IANS | 11 Jan, 2018

A residential attic in the center of the Catalonian city in Spain became the first Spanish real estate property that has been put on the market only for Bitcoins.

Bitcoin (BTC, XBT) is a decentralised global digital currency that isn't backed by a central bank or single administrator, in other words, it is a peer-to-peer electronic cash system which has seen a massive increase in its value in recent times.

According to VĂ­ctor Monreal, executive director of the Barcelona-based real estate company Mister Piso, which has put this residence on the market said on Wednesday Bitcoin enabled "a much speedier and effective transaction than the traditional payment method."

In his opinion, normal payment "is managed by banks engaged in financial intermediation and subject to excessive and unnecessary regulation," Efe reported.

The apartment that can only be purchased in Bitcoins is located in Tarragona's central Plaza Imperial and it was its owner who decided that payment could only be made in Bitcoins.

The attic has gone on the market with a price tag of 40 Bitcoins, which at Wednesday's BTC virtual exchange rate is the equivalent of $583,950.

In the event a potential buyer does not have Bitcoins, he will be directed to one of the numerous bitcoin exchanges operating on the internet, Monreal said.

Bitcoin transactions take place between users directly, are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a "blockchain."

An independent verification of the "chain of ownership" of any and every Bitcoin value is achieved as each network node stores its own copy of the blockchain.

Bitcoin was invented by a person or group behind the name Satoshi Nakamoto and released as open-source software in 2009.

Since the beginning of 2017 Bitcoin has experienced a spectacular rise in value, passing from $999 per Bitcoin in Jan. 2017 to the current but volatile, $14,633 per coin.

The director of Mister Piso said he believed there will be a growing number of consumers opting to make their daily purchases with this digital currency.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 15 Oct, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Yes
 No
 Can't say
  Commented Stories
» Collateral free loans available for MSMEs: Minister(2)
» Credit off-take by banks slows to 8.8 pc: RBI data(1)
» Slowing economy needs a boost(1)
» BSE suspends Fairwealth Securities from cash equity segment(1)
» Appoint distributors, expand your business(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter