If there is one thing Gold standard proponents talk about more than anything, it is how their currency of choice is backed by a physical good: Gold. Bitcoin, on the other hand, is backed by math. Math is more reliable than even precious metals, but some don't see it that way. Some people prefer the physical “realness” of Gold and other forms of bullion. Turns out, if you have a little more than 3,000 BTC laying around, you could get started on some very real mining.
BitPremier, the Bitcoin fueled auction site for high-end luxury goods, has received an auction for a “profitable” Canadian Gold Mine in Dawson City, Yukon. The mine can be had for 3,076 BTC, or USD $2,000,000.
According to the listing, the mine comes with USD $1,000,000 in equipment and creates roughly USD $1,000,000 in profit each year. Potentially, that means the buyer could recoup their investment rather quickly. The mine's owner is also willing to stay on board as a consultant for five years, to ensure the transition goes smoothly.
The sale is actually for the parent company of the mine, and includes all of its assets. There is no mention of the company's other assets (or debts) in the listing. However, the listing does say that the company's financial information is available for serious buyers.
If someone purchases the mine, it will be the largest public transaction of Bitcoin in the digital currency's history. However, there are several other candidates on BitPremier that would exceed even the gold mine's price. For instance, a 6,934 BTC five bedroom luxury home in Peru
and 1/3rd of an Indonesian island
for 15,508 BTC are both available on the site.
None of them would be the largest Bitcoin transaction however. Back in November 2013, Bitstamp moved 194,933 BTC
into a single wallet as part of a financial audit. But, any of the above auctions, if completed, would be the biggest bitcoin-based sale of a physical good when looking at its fiat exchange rate.