On the 12th May Sotheby's will auction a Banksy and, for the first time, allow payment in both Bitcoin and Ethereum. I'm interested in what effect this might have on the value of Ethereum (especially as I have some of those) but also, the effect on other crypto currencies reputation in the general economy as a normal means to purchase goods?
I'm curious from an investment perspective but also from an economy perspective. If this becomes the new norm then how will purchases of these kind of assets be tracked / taxed / audited etc. And what would this spell for banking in general.
I see it as a potential paradigm shift in the way things are sold. Especially if the successful bidder actually pays for the Banksy using crypto currency.
Really interested to hear thoughts on this? Do you think its just a stunt (Banksy is known for them) or a genuine effort to open up bids to people who hold a lot of their wealth in crypto? Or the dawn of a new era of crypto currency transactions?
Submitted May 11, 2021 at 02:54AM by uptown47 https://ift.tt/2R2bMi8
