BNB and BTC to be accepted in an auction of luxury property in Australia

[BurgerCash]

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.

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.

[Mrsparks]

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

[TheCoinGrabber]

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.

[waynechong1995]

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

[septi.JR]

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

[angel55]

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.

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.

[kryptqnick]

accepting bitcoin in a luxury property auction is not helping bitcoin in any way!

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.

[1Referee]

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.

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.

[yohananaomi]

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

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.

[Sandus_Cryptolover]

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.

[JeromeTash]

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.

[crzy]

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

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.

[shesheboy]

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

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 .

[pooya87]

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

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.

[eaLiTy]

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.

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.

[Kakmakr]

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. 

[Annalise24]

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.

[Beerwizzard]

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.

[Pursuer]

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. 

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.

[sclmte]

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.