Bitcoin Forum

Binance coin (BNB) and Bitcoin (BTC) will be accepted as payment in an auction of luxury property located at 1 Beech Lane, Casuanna, New South Wales (NSW), Australia on 18 April 2019.


Full news article here: https://www.unblock.news/news/bnb-btc-luxury-property-australia

I don't know why, but such kind of news don't really excite me as a bitcoiner because these are all marketing gimmick and doesn't really help in real life adoption! I had earlier mentioned as well, Toyota accepting bitcoin is a better news than Rolls Royce accepting it! In today's scenario, we are missing the mass adoption of bitcoin big time and mass adoption is the one key factor that will make a lot of people happy those who are associated with bitcoin since a long time now. So, accepting bitcoin in a luxury property auction is not helping bitcoin in any way! Rather, it will be great if Australia's property search website (property. com. au) starts accepting bitcoin to complete any real estate transactions.

This will not have any significant impact on the market. What is really needed now is a good enabling framework defined by the government to allow bigger institutions to pump in money. This BNB might spark a huge growth with the constant development of Binance and international partners. I wish other exchanges could also give a good challenge.

I'm not surprised by the news since Australia is the second country behind Japan to adopt bitcoin. What really surprises me though is the inclusion of BNB, although this is token is back by the largest exchange right now, but still it is prone to market manipulation (pump-and-dump).

Anyways, we should take any positive news that comes along, and we do hope some someone will take advantage of this property to be paid in BTC or BNB as the price is still cheap at the moment. This could be a marketing gimmick, but at least we are heading to the right direction.

It seems that some people are already planning their moves on entering the market. Auctioning up a property in exchange of bitcoins is the best option given that they'll have the advantage now while the prices of bitcoin is relatively low and just wait for another bull run and sell the profits. While this is a great news for adoption, I don't think that many other good things will branch out from this auction of luxurious properties. For sure, the property would be bought in cash rather than bitcoin or BNB given that the market are already showing signs of activity lately.

lol really?
it must be also a coincidence that BNB has been getting pumped lately and hard. and now that it is nearing the end of that pump people are starting to come up with these types of crazy stories about it :D
seems like someone has bought his coins in a bubble...

Nothing special here, just regular seller want to add more options in the payment methods. I doubt this news will have any effect on current market situations. I got the logic behind accepting BITCOIN but why BNB is accepted too?

BNB is the good coin i think, we can see that the price of BNB increasing time by time, Binance is the one of many big exchanger has success to develop BNB, they will create their own chain, and i think BNB can be the rival for bitcoin in the future

We have to face the facts, bitcoin is rarely accepted for real estate and that isn't likely to change in the near future. Major transactions are done in dollars and dealing with bitcoin will leave the seller and buyer with more fees and with the volatility factor thrown in there its not worth using for properties.  This will change in the future once its more widely accepted.

Bnb is going to most popular cryptocurrency in public acceptance and merchant and high profile business this year is the starting for mass acceptance

Of course. But someone needs to take the first step.

When Bitcoin's acceptance and stability is acceptable enough a lot of people will adopt and it will be easy but the steps we give this next years will decide our future.

I agree that for now it's not a really good idea unless the seller wants to hold or will transform to fiat right away.

The acceptance of bitcoin into the real estate business isn't a big thing, because already several deals have happened with bitcoin as the currency. It shows the increasing acceptance level of bitcoin as a currency. BNB added to the list seems to be a way of marketing from the Binance community. Because such a level of acceptance will increase the value among most other top coins.

Wouldnt know why binance coin would be excepted by this auction house over other altcoins as a form of payment.
Maybe they have a deal with binance or something to accept them over say ethereum or litecoin.

If you make friends with the rich and the famous then you should be able to get an attention out there and most probably that is why BNB is sticking it's ass on Bitcoin's slowly but surely great's mass adoption in the future. Just a hunch though.

Yeah, I'm gonna have to agree with the others, this looks like nothing but a marketing campaign for BNB. The fact that the CEO of Binance even tweeted about it says it all. I think they included BTC just to make it look a bit more "legit" to the average crypto enthusiast and newcomers. I wouldn't be surprised if more news related to binance coin keep poping up in the upcoming weeks, seems like they're doing everything they can to keep creating more hype around the coin and continue the uptrend.

Although it does not have a significant impact on the development of the price of bitcoin, but this news has a positive effect especially in the payment transaction scheme, with the existence of an example of such payments meaning it's clear that bitcoin has been widely accepted, as the second payment (parallel) option after fiat money. There's a possibility the above method will be followed by other auction organizers, and the increase in people who adopt bitcoin will likely occur.

The BNB's a coin that has high value and has gained a lot of popularity instantly, so it's no wonder if the BNB price keeps on racing than the other coins. So it's natural if finally juxtaposed with bitcoin as payment in the auction event.

If this kind of trading between physical and digital matter on currency, probably it could boost up the adoptions in the near future. Hopefully we'll be able to sustain until such time more people will be more educated because of bitcoin. Not just with property buying but also for other physical products like basic commodities, like in department stores and other local good in every country. Let's not have limitations on expending bitcoin and other crypto alts like bnb. We should exercise the freedom of cryptocurrency.

good news, in the near future there may be many people who buy bnb / btc and by April there will be a pump to increase the price of these two coins. this will greatly benefit the whales who will participate in the auction.

BNB is having the best of its ride and the exchange is making remarkable development for larger adoption and high trade volume, the price reflects such success. Its just too early and might be careless for any business to adopt BNB for exchange and purchase when bitcoin is there. Exchanges with good ride should be given enough time to prove itself, at least 5 years.

It's not a really strong indicator
But it is an open door to enter the BTC as soon as it is ready
I think this news is much better than another news at the same auction says
(BTC prohibition as a means of payment at auction).

True, but mass-selling merchants have no incentive to start accepting bitcoin, whereas small ones would love the marketing. The low hanging fruit is still progress, and it'd take it over no adoption.

I don't know why some people are reacting negatively to this post but in my opinion it shows that crypto currency is growing in acceptance as a store of value and that's good for the entire blockchain community

Not a game changer but good publicity. If people are seeing that others are willing to sell real estate for cryptos like Bitcoin, they'll be less likely to see it as a scam and maybe research about it, which could lead them to trying it.

As usual publicity for binance, cryptocurrency has never been a problem in luxuries and rich market as long the tokens are stable, what we need is mass adoption that enable wallets to integrated in wide used systems like how enjin does with games, as a medium of transactions exposed to daily users

of course it's positive news for the world of cryptocurrency, auctions require a lot of money, if people who auction carry paper money, and how to pay for items that are auctioned must use BTC or BNB, I think the pump will occur

The issue is the sellers are converting instantly to fiat, they aren't going to hold crypto.  It will still take a long time for traditional market sellers to accept crypto and actually hold it.  This is the gift and curse of being an early adopter, you experience the wild price dips but also the crazy runs.

It's a fair point that the usage of Bitcoin to purchase luxurious stuff does not help mass adoption much. At the same time, though, I think that even such events help Bitcoin is a number of ways. For one, they increase the publicity. People hear the word 'bitcoin' more often, and not in the context of drugs or money laundering but in the context of something at least legal if not respectable. Another thing is that here Bitcoin is at least treated as money which is also a big deal. We see people using Bitcoin as a convenient way of paying for property, whereas some are moving Bitcoin in the direction of becoming this property/commodity rather than money.

Accepting Bitcoin through a payment gateway is the first step. Once the price is more stable and more places accept it, merchants will happily hold their coins, and another advantage is that it saves them the fees these payment gateways charge.

Important here is that merchants need to be able to restock using Bitcoin. I think that will end up being a major breakthrough. The moment that happens, merchants will use their Bitcoins to buy whatever their store needs instead of having it be converted to fiat and then do the buying.

Whatever the selling pressure is that is coming coming from payment gateways, it will be significantly reduced in that case.

Agree completely with the analysis that you put forward that it is true that the BNB is a very good coin and is well developed by Binance, but the BNB is part of what is indeed a pretty good development and even good. to be able to replace bitcoin I feel it is still far away and needs more time and it is also possible that it will be difficult to shift the existence of bitcoin.

Bitcoin been accepted for physical transaction isn't new though but I'm very impressed that Binance Coin (BNB) is also taking the frontlines. This also goes to tell the world that Cryptocurrency isnta just an imagination but true and can meet our daily use.

By the way, Binance coin, Does it have a blockchain of its own? Or it's still an Ethereum Token.
Are there plans to create a binance coin blockchain? Any rumors perhaps?

Because, I think BNB is really doing to great to just be a mere ethereum token.

Btc is nice choice but i don’t get it why BNB is also the option. I think they really see a great potential on BNB and it can be a big coin for the future. Anyway this is a great news and auctioneers will have more options now to own the thing they wanted, this is a sign of a great acceptance soon.

yes bitcoin alone is enough for a major event like that but im also surprise on why bnb is also included on thier payment option where bnb is only a new coin that dont have enough reputation and dont really have a real world usage or purpose aside from bieng a pump and dump coin  but its backed by a large exchange which is binance , i think that is the maine reason on why those people include it in the auction  . still the news is good because this another indication of the growing adoption of bitcoin and cryptos .

it is not, BNB is only mentioned in this falsified article on that low quality clickbait website because at the time when they published it that token was at the end of its pump and  the authors probably had some sort of incentive to advertise this token more and try to keep the hype and the pump alive for a little bit longer which they failed by the way.

There are many one off cases like this where an institution is selling luxurious property or items with bitcoin and we all know that it is aimed at crypto investors as there was a trend from the automobile sector when the market peaked that they started accepting bitcoin as payment for luxury cars, as mentioned above by some, it is not real adoption, we need more merchants accepting bitcoin on a daily basis for trade and commerce rather than for luxury items and one off trades.

Why would they opt for Binance Coin (BNB) to be accepted? It has a maximum coin cap of 200 million BNB tokens.  ::)

Yes, Binance Coin (BNB) is backed by the exchange with the largest trading volume in the world, but is this enough reason to accept it as a payment option this early in it's development? <Exchanges are famous for their security flaws>  ::)

I think the whole Binance DEX thing is over hyped and just some pump strategy to get people to buy more BNB tokens.  :P

This the kind of news I look forward to in cryptosphere.
This singular development of accepting bitcoin and bnb in an aunction sale is exciting and I believe it willfurthet create awareness about Cryptocurrency which in turn would increase wide spread adoption.

It seems to me a scam clickbait article that is trying to push BNB.
No one will believe if they say that some random organization is accepting BNB since no one is using it. But if you attach it to bitcoin then it will sound more legitimate but unfortunately, it is still not true.

just wait a little while before Binance also joins the long list of dead exchanges that got hacked or scammed people and ran away and then we can all see how bad an idea it is to even mention centralized altcoins with bitcoin in the same sentence let alone accept them as payment (although the article seems like a clickbait lie). and it is going to happen, the only question is a matter of when and how big a disaster.

An Australian real estate giant is the first in the country to let people bid and settle with Bitcoin.It will be the first one to allow for Bitcoin to enter into the realm of property auctioning in Australia.This brings cryptocurrencies into yet another aspect of commercial life.The property owner says he wants to hold as many cryptocurrencies as possible. One of the largest real estate companies in Australia, LJ Hooker, is getting ready for a live luxury real estate auction for Bitcoin (BTC) and Binance Coin (BNB) with a live auctioneer.

This is a good step towards achieving mainstream adoption. Right from the day one, I knew that BNB will be a good coin. With more of news like this, Bitcoin mainstream adoption is closer than ever

Technically BNB is not a very good coin, it's just pumped by a centralized organization. But if it does help us reach higher levels of popularity, so be it. It is a weird second pick though, gotta wonder why BNB and not ETH.

I also wonder why the BNB well it seems from the BNB is behind it all, IMO this auction is normal but this is also good news for new investors want to adopt bitcoin. by the way the rest is only to increase the bnb market and definitely be directed to buy bitcoin at there ! improve the market by joining the event

I think this is a fake news. Australia is very progressive country and long process of time before it will be possible. I think this is one of strategies to make bitcoin more popular again and a stepping stone to rise again and I think bitcoin did not need to be involve even in a single fake news because bitcoin stand on it's own power.

I'm surprised to see BNB mentioned, is this even accepted anywhere beyond Binance? Can you even have your own wallet (and priv keys)? This coin (token?) is way too niche to be bothering with, and it appears other exchanges want their own coin too, for whatever reason.

It is nice publicity for BNB, which makes me wonder of its pertinence in this part of the forum, only because, "and BTC" hrmm yeah right.

Beyond Binance, What is the use for BNB? Within Binance they give you a little 25% fee discount for its use, and i think that is the sole reason people would bother with it. Remove that incentive and on its own it wouldn't be able to hold against any other altcoin because i fail to see what it brings that deserves such merit.

Also this is a property, something Bitcoin is very well suited for already.

Wow not only the bitcoin but also Binance coin for sure those people who buy property in Australia who pays the Binance or the bitcoin have a lot og assets or they are millionaire and in the Philippines also they have house and lot who are accepting bitcoin and other altcoins as a psyment also. More country for sure will follow the country and it is help to the seller to find the buyer if they use bitcoin payment.

i remember before the last massive bull run we had news and scenarios like this where people listed their property for exchange of bitcoin and other cryptocurrency of which later we had news of people who sold their house for bitcoin and then make huge profit during the bull run. somehow it can mean people are preparing to move funds into the market. lets hope it finally signals a positive move.

This is a great news and exposure for both BTC and BNB In my country there some selling real estate with btc payment too. BNB exceed its limits as utility token of binance many people have already put their trust on it given that binance has a high reputation, nice move by Binance CEO CZ, if he keeps doing as this many will follow and I guess this will help the crypto adoption.

maybe this is one of the reasons why BNB tokens rose yesterday, many people who want to participate in this auction using BNB. hopefully there will be better things like this. maybe this could be a way for real adoption of bitcoin and other crypto.

I think the bnb token grew yesterday because of the IEO news that you need to hold the coin for 20 days to participate in the ieo that's the market I think and rushed to buy . I think bitcoin is a great coin for auctions, so it would be good if there were anonymous auctions with bitcoin!

Great news! We need more publicity regarding cryptocurrency transactions and this is a perfect way to get more media attention. Homes are not always easy to sell, nor is it always easy to accept payment. With the blockchain, making payments is simple and will only get simpler as the system gets more advanced. I foresee Title, Loans, Mortgages and Utilities all being accessible in the future via the blockchain to simplify account and make transactions smoother.

I can understand and happy about they are accepting BTC. But bnb? It is really odd.

Binance is growing its power every new day it seems.

It's so good to see bitcoin has started to increase it's purchasing power and this news is just one of many that is seeing bitcoin becoming acceptable.
I have no doubt that the future for bitcoin and cryptocurrency is very bright

It looks like Binance is now execute their marketing plans to increase the demand for BNB and add other use-case for their coin aside from getting discounts for trading. If I'm correct you can also use now BNB just like BTC to contribute on newly created projects.

It is genuinely mind boggling that anyone would accept a coin centred around one single organisation. In the years to come people will shake their heads in wonder at such things. I guess if the seller is going to run straight out of it into something else then it makes a sliver of sense. You wouldn't catch me at it.

Why need to be luxurious properties?this is not helping the community to be more popular?

I believe its more better if those simple or normal properties will accept bitcoin and binance or even more legit cryptocurrency because adoption must come from smaller acceptance than this obviously a publicity gimicks by this company

I'm not sure, crypto growth in Australia is very slow and the public doesn't have great enthusiasm to create crypto money.

but, the crypto rules in Australia are very strict, all the exchanges there must be registered in Australia.

this is ordinary information, but at least Australia participates in contributing well to the crypto world.

I am not surprise with the acceptance of BTC to such events like this. But with the BNB at all? It was quite amazing. Another good step for BNB to achieve another sign of adoption in terms of auction payments. It just means, that the positive progress of cryptocurrencies like this are really fantastic and quite good for mass adoption.

This MEski is outside the development of bitcoin to make it better, I am very happy to hear the news. That indicates that bitcoin has been accepted as a payment tool.

There are lot of companies who started accepting bitcoin such as properties, food merchants, booking and more. Maybe in the future, bitcoin can be use as means of payment in all the products and services around the world.

Yes, BNB is really improving. Since they created a good image in the mass, people will not hesitate to adopt their improvements.

Well it's about time! This is a good move by the Aussie's, and I think this should also open up the auction to more clients. If this turns out to be a success other auctions and businesses will go the crypto way for sure.

that's good news. payments can be made using cryptocurrency. I think why BNB tokens are included in the list for payment systems. who can answer? more and more days many people recognize bitcoin and the ecosystem that is built for auction events is very profitable and the community is of course very proud, what satoshi nakamoto wants little by little is achieved

Wow this sure make bitcoin more popular and also bnb will not just an exchange but also a very successful exchange with that high trust. even something didnt happen back then but that not stopping bnb to grow back.

Yes that is the good thing about binance. There are so many exchangers out there that just got hacked and they just close their exchange because of the negative trust from their traders. Binance will never give up for sure because they are one of the biggest trading platform in crypto field and I guess they will still in the future.
anyway for me if bitcoin and bnb is now accepted in bidding of luxury property well then that is a good news to all of crypto lovers.

Wow... This is. Good news specially for those who hold BNB... BNB is the native coin of binance.. One of the largest crypto exchange.... Soon BNB will flt higg.. So better have it in your wallet..

Well this is something which is fairly common now a days , people are accepting Bitcoins as a means of payment.
I don't think it's a pretty big news but at the same time maybe they are not the first people to do so publicly.
*Even cafes and restaurants are accepting
*You can buy property using it
*Lightning network have just accelerated the payment process
*Lower fee is now inviting more investors
Therefore what I think is it's is fairly something that can be predicted well before time since we are going through such advancements.

It is really good news for cryptocurrency but not surprising. Bitcoin is the most popular currency that people use all around the world. BNB is also a promising coin. BNB becomes a trusted coin day by day. People are interested in BNB and the price of BNB increasing slowly. Because of all this, people use BTC and BNB for their important transaction. 

for btc i think im already heard but bnb i think is a new news and is a really a great. Maybe in the future more cryptocurrency will be available at Australia. And i think so many user cryptocurrency in Australia support this