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27-year-old Matt Thompson of Wisconsin is selling off his vacation home for about $135,000 or approximately 100 million Dogecoins.
Dogecoin may start off as an internet joke, but now their value is more than real. Matt Thompson, 27-year-old, who lives in Wisconsin intends to sell his vacation house for approximately 100 million Dogecoins.
Dogecoin is a parody for world most famous cryptocurrency Bitcoin, which was created by programmer Billy Markus in the end of last year. It is remembered by public thanks to a cute dog named Doge who became a currency’s mascot. The farcical currency is now valued over 67 million U.S. dollars. Although Bitcoin stays the most recognizable digital currency, Dogecoin is in a Top-10 of cryptocurrencies.
Matt Thompson, who earns for a living selling games and gadgets over the Internet, is a big fan of cryptocurrencies and uses them anywhere he is able too. As it is reported he has been buying Dogecoins since they become available on the Internet.
It may seem that he sells his vacation home for unreal money because of his deep loyalty to it, but the truth is that he was forced to do that because of lack of interest to this house on the real estate market after several months of being on sale.
The seller claims that the price is greatly reduced due to low demand in this area. The real solidity worth of a three-bedroom, two-bath home in the woods around Hayward is about 200’s. For reference, 100 million Dogecoins equal to 135 000 U.S. dollars.
At first, Thompson asked 500 000 Dogecoins for his house, but a rapid leap of Dogecoin rate forced him to reduce the nominal price. And including Dogecoin to a list of accepted means of payment generates more interest about the announcement.
It is not the first time when the property is attempted to be sold for a cryptocurrency. In March of 2013 Taylor More of Alberta, Canada announced that he is accepting full or a partial payment in Bitcoin for his home.
What is more, Matt Thopson does not rule out the possibility to hold on to Dogecoins. One of the reasons for this is his confidence that he could use this currency in his business. As it was mentioned, he works as an electronics reseller and his Chinese companions will gladly accept recently created cryptocurrency as a form of payment for their products. And plus to that, there is always a chance that Dogecoin rate can increase someday.
He truly believes in the success of a new digital currency: “So many people, especially people involved with Bitcoin, tend to believe it’s a copycat. I really don’t think you can be so shortsighted. I believe the value of an economic system is the sum of all of its parts. So, there is room for all sorts of coins,” he said.
The creator of Dogecoin, Markus, doesn’t see his invention as a Bitcoin competitor:” Dogecoin wouldn’t be where it is without Bitcoin leading the way. Bitcoin is the trailblazer and Dogecoin is a friendly spin that helps introduce the world of cryptocurrency”.