What will you sell your house for?.. virtual money?

Virtual money for real goods

Virtual money for real goods

It was not too long ago, we heard about people buying virtual goods for real money. Web and mobile games like – Second Life, Farmville etc made good money selling bits and bytes to users, which is nothing but a tiny bit amount of space on their servers that costs them even a tinier fraction of the money they make from user.

I am an old school kinda guy and, I will be honest, it took me sometime to wrap my head around the idea of paying real money to buy clothes and accessories for the ‘avatar’ in your game. You know it is hard to part with your money for something that intangible, more so if your purchased good lives in the “cloud”.

Anyways, I have been starting to get used to the concept of buying ‘virtual goods’ but unfortunately craze does not end there !!

Here is a news about possibly the first real estate sale in exchange of the virtual money called, bitcoins. (What is bitcoin, you ask? Read about it on Wikipedia) As per FinancialPost – “Mr. More’s two-bedroom bungalow “with beautiful mountain views” is priced at the equivalent of $405,000 in bitcoins, though he concedes he would consider conventional Canadian dollars.”

If you have not heard about bitcoin, you wont be labelled as ‘living under the rock’ just as yet. However, this trend has been on fire lately.

Oh, did I mention there is an exchange rate and trading system for bitcoin (Check out http://bitcoincharts.com).. where does this stop? :)

 

If I got your curiosity up, here are some more articles on bitcoin -

- The Big book of bitcoin

- Bitcoin crosses $70 (yeah, thats right – its USD)

- Bitcoin now $72

- Bitcoin Gets Laundering Rule (online.wsj.com)

- Sorry, Bitcoin Isn’t a ‘Currency’ (go.bloomberg.com)


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