Italy will have first bitcoin bid

[Don Pedro Dinero]

I’ve just read this:

“Italian auction house Sant'Agostino said on Wednesday that bidders at its next sale will be able to settle up in Bitcoin, a world first according to the auctioneers.
Early next week, around 600 Italian and foreign design objects, mostly pieces of furniture, will go under the hammer at Sant'Agostino and "Bitcoins will be accepted as payment", the Turin auction house said in a statement.
Paying with the crypto currency will also be allowed at the following auction at the end of November which will feature paintings, jewellery and watches...”

Source: https://www.thelocal.it/20171019/italian-auction-bitcoin

Another small step through normalization and spreading of bitcoin use.

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[MrCrank]

Why not?
Bids in bitcoin is new idea. Maybe it will be convenient for the participants.
How long they wait confirmation?
Without confirmation it has risk too.

[nesterpu]

I’ve just read this:

“Italian auction house Sant'Agostino said on Wednesday that bidders at its next sale will be able to settle up in Bitcoin, a world first according to the auctioneers.
Early next week, around 600 Italian and foreign design objects, mostly pieces of furniture, will go under the hammer at Sant'Agostino and "Bitcoins will be accepted as payment", the Turin auction house said in a statement.
Paying with the crypto currency will also be allowed at the following auction at the end of November which will feature paintings, jewellery and watches...”

Source: https://www.thelocal.it/20171019/italian-auction-bitcoin

Another small step through normalization and spreading of bitcoin use.

This is really good news for investors, as more and more events take place and accept bitcoin as a form of payment. Maybe its value will increase sharply in the future.

[annmarie]

Why not?
Bids in bitcoin is new idea. Maybe it will be convenient for the participants.
How long they wait confirmation?
Without confirmation it has risk too.

Waiting for confirmation isn't too bad. You place virtual bids at auctions and then pay shortly after. So there's not much risk in it.

[allthingsluxury]

I don't see why not, it will be interesting to see how many people choose to use their BTC for this purpose. I truly do hope that we return to the day when people begin to spend their BTC more, like they use to.

[Coffee135]

I can't say that this event will be of great importance for the development of bitcoin. But it is a good signal. Perhaps many rich people can spend their bitcoins at auction and not be afraid of what they will learn on the transaction. It can attract huge capital from which they will try to hide from the tax authorities. The first time we have the opportunity to see how the stolen capital brings benefits to poor people.

[Trofo]

Good news. I would love to see BTC integrated in everyday life and situations like this are begging of the trend. Only what happens if they offer settlement in BTC and nobody decide to use this method. They offer it few more times and then decide that it isn't necessary and return to traditional practices.

I hope someone shows up and uses BTC to actually buy something and makes the practice spread to other auction houses.

[merchantofzeny]

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

[Don Pedro Dinero]

I can't say that this event will be of great importance for the development of bitcoin. But it is a good signal. Perhaps many rich people can spend their bitcoins at auction and not be afraid of what they will learn on the transaction. It can attract huge capital from which they will try to hide from the tax authorities. The first time we have the opportunity to see how the stolen capital brings benefits to poor people.

I don't think it is of great importance but another step forward, as I said before. Investing in art has long been a way of money-laundering but I doubt people wanting to hide from tax authorities would go to a public bid. Usually money-laundering through art has been carried out in private transactions.

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

You never know what is going to go higher in price. When people buy art they expect that the item they are buying will be worth more in the future. It is a specialized market though with expensive items, and not anyone can invest in it.

[merchantofzeny]

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

You never know what is going to go higher in price. When people buy art they expect that the item they are buying will be worth more in the future. It is a specialized market though with expensive items, and not anyone can invest in it.

Through, unless these are by old masters, hard to tell if you'll ever make a profit. Probably just easier to commission some "modern" artist to make crap art for you and then donate that to a museum for tax breaks, etc.

Guess they'll just have to buy whatever they find pleasing then. Nice that the auction house decided to allow bitcoin but if it is up to me, I wouldn't spend my btc there.

[jseverson]

That's pretty awesome. I'm sure there are a lot of people out there with lots of Bitcoins and few fiat. If there are some of them who are into this, they won't have to go through the trouble of dealing with an exchange. I would be pretty psyched if it was something I would be into.

I honestly don't think people will want to spend their Bitcoins though, as we've been pretty bullish as of late. There are also too few users at the moment so yeah. It's interesting how they decided they will accept Bitcoins though.

[Beerwizzard]

Not that important but still good news, it seems like the goods still will be traded for the fiat and BTC is used just to add funds to your "wallet" so it doesn't seem to become popular. I've just caught myself on thoughts that it is the first crypto related news from italy that I've ever seen.

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

Why not? If you need to buy something and you only have BTC you gona need to exchange it anyway. The other thing is that it might be an attempt to attract the early BTC investors that suddenly became rich and still have a couple thousands of bitcoins in their wallet. Don't think that all of them are still willing to hold it.

[merchantofzeny]

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

Why not? If you need to buy something and you only have BTC you gona need to exchange it anyway. The other thing is that it might be an attempt to attract the early BTC investors that suddenly became rich and still have a couple thousands of bitcoins in their wallet. Don't think that all of them are still willing to hold it.

What I'm thinking instead is that this auction house intends to keep the bitcoins for holding themselves. I wonder if that pizza place kept the bitcoin they were paid. XD

[senin]

I can't say that this event will be of great importance for the development of bitcoin. But it is a good signal. Perhaps many rich people can spend their bitcoins at auction and not be afraid of what they will learn on the transaction. It can attract huge capital from which they will try to hide from the tax authorities. The first time we have the opportunity to see how the stolen capital brings benefits to poor people.

Indeed, it's a very good idea to use bitcoin at auctions. Buyers of antiques almost always try to remain unknown to the public. If you pay bitcoin, then it will be a good opportunity to remain incognito. Bitcoin seems to have been created for such purposes.

[rodskee]

I’ve just read this:

“Italian auction house Sant'Agostino said on Wednesday that bidders at its next sale will be able to settle up in Bitcoin, a world first according to the auctioneers.
Early next week, around 600 Italian and foreign design objects, mostly pieces of furniture, will go under the hammer at Sant'Agostino and "Bitcoins will be accepted as payment", the Turin auction house said in a statement.
Paying with the crypto currency will also be allowed at the following auction at the end of November which will feature paintings, jewellery and watches...”

Source: https://www.thelocal.it/20171019/italian-auction-bitcoin

Another small step through normalization and spreading of bitcoin use.

its possible and good news for us actualy have a country accepting bictoin as payment and all aspect of transactions using bitcoin like austrilian government bitconi treated as money so there's nothing impossible for that plan in the bitcoin use auction bids.

[rcoins0720]

WOW this is nice bitcoin became more popular and acceptable by the time.
bitcoin is much easier way to pay and why not use it right.
hopefully in the next 3 years bitcoin can be used to anything or if not I will be happy also what bitcoin helps us now

[YuginKadoya]

It is a cool and convenient transaction towards bitcoin and I think this is a secure thing because it is digital, but I think there are some banks that will be against this kind of things, but for bitcoin it will be a perfect opportunity to spread the awareness for people and can make a bitcoin well known in a transaction that is more secure, fast, innovative, and more reliable.

[trinhdinhthang20007]

Not that important but still good news, it seems like the goods still will be traded for the fiat and BTC is used just to add funds to your "wallet" so it doesn't seem to become popular. I've just caught myself on thoughts that it is the first crypto related news from italy that I've ever seen.

Cool that they thought of allowing bitcoins into the auction. I'm just not sure if it would be worth to spend bitcoins on furniture though, seeing that we predict that the price would be higher in the future. Hmmm, maybe just buy items that would likely increase in value, probably paintings.

Why not? If you need to buy something and you only have BTC you gona need to exchange it anyway. The other thing is that it might be an attempt to attract the early BTC investors that suddenly became rich and still have a couple thousands of bitcoins in their wallet. Don't think that all of them are still willing to hold it.

Yes, about 3 years ago many people in my country do not know what BTC is, not to mention transactions or payments. But now the liquidity is easy, everything is possible, acceptable BTC is possible. BTC is like many other currencies, has its own exchange rate, has its own liquidity market and has its own position.

[Prodigan786]

It’s reaally good move even lots of online website providing auction using bitcoin now the countries like Italy using bitcoin for auction more people will be interested even the people not knowing will start to research on bitcoin.

[jizenlianyong]

Which project is amazing, because in addition to the usual lovers and investors in art, Italians receive a large audience due to investors bitcoin. This event is a new, modern level, which simultaneously promotes and its activities and bitcoin itself. Great idea.