Bitcoin payment of $5 million LRS bitcoin payment company will enter the international market
Australia LivingRoomofSatoshi is a bitcoin payment billing service company. The company announced on Monday that it has processed more than $5 million in household bills.
Bitcoin.com interviewed LivingRoomofSatoshi’s co-founder and chief technology officer DanicelAlexiuc, talked about how to achieve this milepost achievement, and more plans for the future. Alexiuc said, in the past 16 months, a value of nearly $4 million bill is paid for the use of bitcoin.
Launched in May 2014, is located in Brisbane’s LivingRoomofSatoshi Australia provides a new payment and settlement services. The user can use bitcoin and other five kinds of encryption currency online bill payment and bank remittance. Any BPAY and BillerCode sign the bill can use bitcoin payment. The company said: “there are more than 19000 companies use BPAY to accept payment.”
The difference in the service to make money from the money, so do not charge any fees. Three months later, the company has to pay a $150 thousand bitcoin Australian household bills.
Alexiuc told Bitcoin.com:
“From May 2014 to December 2015, we completed a $1 million bitcoin payment, we took 20 months to reach it. The 4 million is from January 2016 to April 2017, which lasted 16 months.”
Overall, only lasted 16 months, the company’s record of $1 million from the bill rose to $5 million. The company also allows the use of 5 kinds of encryption currency bill payments, and a $5 million bill for other encryption currency payment, only $250 thousand. Alexiuc explained.
In the 16 months to pay a $4 million bill
Bitcoin.com (BC): the main reason for the rapid growth of bitcoin payment is what?
LivingRoomofSatoshi (LRS): I think this is basically orderly growth, which reflects the overall rise in bitcoin. When LivingRoomofSatoshi started its business, you almost only bitcoin payment. But now in addition to our bill payment service, there are a variety of exchange, wage conversion services and bitcoin use overall retail options.
BC: do you have a few users now? Where are they?
LRS: we have more than 1100 registered users, there are more people were using LivingRoomofSatoshi to pay the bills, and do not need to register. Most of our customers in Australia, but we see many from overseas customers in the use of bitcoin payment services – for example, a German father to help pay the bills daughter studying in australia.
BC: for bills and bank transfer, your average monthly number of money? How does it grow?
LRS: We present (last 10 weeks) a week average of about 100 thousand Australian dollars. From the beginning of the past 10 weeks, our weekly increase of approximately 60000 Australian dollars.
BC: the average amount of bitcoin payment bill how much is your site size?
BC: can you give us a description of $5 million is how many bitcoin pay bills, bank remittance amount is how much?
LRS: in Australia can also use bank transfer to pay a lot of bills, but in this case we do not record the use of personal accounts. But the original data is from 47% BPAY, and 53% of the bank transfer.
The relevant provisions
BC: what are the regulations affect your company?
LRS: Yes, the largest of which is in charge of bitcoin procurement of “double consumption tax” (GST), making it difficult to buy bitcoin in australia. Our Australian finance minister Kuskot Morrison (ScottMorrison) announced in nearly a year ago, the “double consumption tax” bitcoin to repeal, he recently reiterated this commitment. However, the Australian government does not seem to keep up with the pace of innovation bitcoin world, also did not make any changes.
BC: can you explain the regulatory requirements of each bitcoin payment bill limit for $1000? How many people need to pay more than the amount of the bill?
LRS: the rules and reasons are very long, they involve many aspects and is very boring, but this is the present we must abide by the service. Of course we are required to pay a larger amount of bills. I own electricity now more than 1000 Australian dollars! At present, it needs two payments, but we plan to meet additional regulatory requirements, in order to be able to lift the restrictions in the future.
The next milepost and expansion plan
BC: what is your plan to expand?
LRS: international expansion, first entered the new zealand. Australia is closely related with our neighbors.
BC: are you going to provide services outside Australia?
LRS: Yes, we have received the people of many countries, we hope to provide there bitcoin payment service. The regulatory requirements are difficult obstacles to overcome, second is to maintain the stability of the banking relationship.
BC: are you going to support BPAY except for the other types of bills?
LRS:BPAY in Australia has a quasi monopoly bill payment, is jointly owned by Australia’s 4 largest bank ltd.. This makes the market competition becomes very difficult. Most of the bill in Australia BPAY payment or bank transfer, so we have covered the two. But we hope that eventually we can persuade customers to directly use bitcoin to accept payment, then the customer can completely bypass the LivingRoomofSatoshi!
BC: what is your next milepost, what time do you think you will achieve it?
LRS: we want to make bitcoin before the end of the pay scale of $10 million.