I met a similar problem when I tried to store my existing repo in my Ubunt One
account, I fixed it by the following steps:
Step-1: create remote repo
$ cd ~/Ubuntu\ One/
$ mkdir <project-name>
$ cd <project-name>
$ mkdir .git
$ cd .git
$ git --bare init
Step-2: add the remote
$ git remote add origin /home/<linux-user-name>/Ubuntu\ One/<project-name>/.git
Step-3: push the exising git reop to the remote
$ git push -u origin --all