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Thursday, January 16, 2014

Thurs Post #2: Lower Mainland Real estate developer starts accepting Bitcoin




Abbotsford developer Quantum Properties says they are accepting Bitcoin for a deposit on any of their residential developments.

The company is currently marketing more than 400 condos in Abbotsford and Port Coquitlam.

President and CEO of Quantum Properties Diane Delves says she has been following the digital currency for a while and thinks it is the way of the future.
“I was fascinated by the concept. We have been looking at it for a while. Finally as of today, we made it official that we are going to accept Bitcoin.”

Delves says they have yet to see what the buying public thinks of it.
“We wanted to offer it as an option. It was sort of like –let’s throw it out there and see."
Delves says as far as she is aware, no other developer is accepting Bitcoin.

The average value of a condo that Quantum Properties is marketing is $250,000, and the deposit is usually within a 10 per cent range.

Delves says she is aware of just how volatile Bitcoin can be, but it is not a big concern for them.
“We might win some, we might lose some. We will convert it to currency and if we suffer a loss, we will count it as a marketing cost.”
Source: Global BC

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4 comments:

  1. This is just a publicity stunt by this developer. It is
    highly unlikely anybody would ever attempt to put down a deposit with them using Bitcoins.

    ReplyDelete
  2. Unless they are specifically targeting cartels as a means to launder drug proceeds

    ReplyDelete
  3. At 5 cents each, pop bottles are a better substitute as legal tender......but accepting pop bottles has terrible optics -- ie cheap and desperate --- while bitcoin is "hip" and novel.

    This is smart marketing to a stupid crowd.

    ReplyDelete
  4. Literally one of the dumbest things i have ever read. Next they will be accepting your organs for harvesting in the future.

    ReplyDelete