Satoshi Once Again Welcoming Visitors to His "Living Room"
Australia-based bitcoin startup Living Room of Satoshi, which allows customers to pay their bills in bitcoin, is now re-opening its doors following its sudden close last October in response to the country's sales tax rules. While the 10% GST (goods and services tax) on customers buying and selling bitcoin is still very active, the bitcoin industry has changed quite a bit according to the company's founder Daniel Alexiuc, thus giving him enough confidence that customers will once again be eager to use the site and take advantage of the company's offerings. Alexiuc states: "There are now....
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Australian Bitcoin startupLiving Room of Satoshi has resumed operations following their closure in October. Using the Living Room of Satoshi website, Australians can use bitcoin to pay any bills that utilize BPAY, an Australian electronic payment system. According to the company, the service caught on quickly; the Living Room of Satoshi processed more than $250,000 in bills from its launch in May until its closure. Also read: UK Treasury Seeking Regulation Advice From Bitcoin Community. Bitcoin Company Living Room of Satoshi Resumes Operations. The Living Room of Satoshi was forced to....
Recently, a service called the Living Room of Satoshi announced reopening its doors despite the unfair Australian goods and services tax (GST). Bitcoin business are hit hard by the GST ruling, and Living Room of Satoshi announced prior that it was closing shop due to the financial regulation. The service provides Australian residents with a way to pay bills and utilities with bitcoin while utilizing BPAY, a popular universal bill-payment system that nearly every major business uses. Through Living Room of Satoshi, Australians paid $150,000 worth of bills using bitcoin.
With the integration of DASH, Living Room of Satoshi now enables Australian users to pay their bills with the 7th largest cryptocurrency. Bitcoin is not the only cryptocurrency of importance anymore. The altcoin revolution that followed Bitcoin, thanks to the open source nature of Bitcoin code is slowly catching up with mainstream economy. Proving it is the recent development involving DASH — the 7th largest cryptocurrency in terms of market capitalization. According to reports, DASH can now be used by Australian residents to directly pay their utility bills. The latest option is made....
There is still a few more days left for submitting comments to the NYDFS regarding the BitLicense, but for some Australian Bitcoin companies it is already too late. The Living Room of Satoshi has suspended all operations in light of the recent goods and services tax (GST) ruling on bitcoin. The Living Room of Satoshi was “a simple, secure way to pay your everyday Australian bills (electricity, rego, phone, credit card, etc) with bitcoin.” Unfortunately, under the new GST ruling, Living Room of Satoshi customers would be taxed once when sending funds to the company, and again when the....
Living Room of Satoshi, the intermediary that enables folks to pay their bills with Bitcoin, has been recognized by the wider business company for its innovation. In some ways to TechCrunch's Disrupt awards, the event is meant to highlight regional businesses who have pioneered new territory in their space. Living Room of Satoshi was one of the first companies to achieve the goal of enabling Bitcoin bill payments, and its user base has steadily grown since its launch about a year ago. Within a few months, they had done $150,000 in bill payments, charging no fees to the customer. The....