Bitcoin Forum

A new service by Living Room of Satoshi allows Australians (http://tinyurl.com/o9p73j7) to send
BTC funds direct to a bank account in a single transaction.

The move allows digital currency users to directly pay individuals
outside of the bitcoin loop, extending the potential reach of cryptocurrency.

This is positive news, let's hope that this moves outside of Australia to Europe.

Services like these will make it possible for me to dump all my bank accounts and keep bitcoin only. One of the barriers with a bitcoin only setup is paying those who do not yet accept bitcoin.

This is good news, hope its replicated in other countries.

This is nice, kind of like reverse bitpay so if a user is working for a company or an individual which only pays in Bitcoin and the user is not ready to accept Bitcoins, they can use this service and receive direct payments in their bank without having to be worried about getting affected by the price fluctuation in BTC.

Will this work only for companies inside Australia or can a user receive bitcoins from outside the Aus and receive Dollars in their bank account?

This sounds good :) It could even open possibilities to pay something like bills with Bitcoin to companies who don't accept it directly...

If they sending a bitcoin to a Bank account, will it still be a Bitcoin or convert to Australian Dollar?

If it works anything like Cashila (similar service but for EU countries only) then you can send send bitcoin from anywhere in the world and have it paid to the relevant account in the local currency.

I hope this can happen in my country too.
But certainly for develop country like Ausi,etc  is the early adopter who accept bitcoin. This will making the transaction easier to be made and I'm sure everyone will try to adopt his one

Great news! Australian people seems to be open-minded to new things in comparison with other continents. BTCBTCBTC

Is there any press release of statement of the Australian national bank on this ?, maybe a bank website that shows the process or how it works?

Interesting quote from the article:

“After NZ, Canada looks like the most attractive prospect for us. We'd love to set up shop there!”

Apparently Australia has decided to double tax bitcoin with recent ruling.
New Zealand and Canada are apparently bitcoin friendlier.

The country that declares itself a bitcoin business haven, is sitting on a goldmine.

It leaves me wondering why many other countries don't understand it.

We will one day see transactions being done on the blockchain, without knowing we are using it.

As a user of any currency, your goals should be to transfer money instantly to anyone around the world, at the lowest cost and in the most secure way possible.

Banks will use the Blockchain to do this, and you will not even know it. {The average client at a bank, has no clue how banks work anyway}

True old school Bitcoiners will not like this, but it's where everything is going. It's going to be the Blockchain or a competing digital version of it... We will have no choice.

are they achieving this, with a bank account for bitcoin? it seems to work like circle right? there is an auto conversion in the system, and you just need to imput the amount to send

coinimal works in that way too

As long as banks have no control over Blockchain, I don't care. I don't thinbk they ever get to control it, right?

While to certain people, it sounds positive, but I just wonder why we still need bank to become the intermediate party. Isn't the concept of bitcoin is to remove banks from the transaction loop and depend entirely on the network to process transaction. But never mind, I'm sure things will change someday when bitcoin does not need to rely on anything from start till the end.

First of all, why isn't the link a direct link? Is there a referal link hidden? Please change the url.
https://www.livingroomofsatoshi.com/


I think so. LRoS uses BPAY, which is for settling bills in Australia.
http://www.bpay.com.au/


That is terrible to be honest, and Australian banks are hostile to bitcoin. They are closing bank accounts that have links to bitcoin. I would say Australia is NOT bitcoin friendly whatsoever.

You need to look at this another way. This is a great service for somebody like me who would like to keep my 'money' in bitcoin. Before I would have to sell some bitcoin in order to get fiat so that I could pay my bills. With this and similar other services in place, I no longer need to do this as I can pay those bills now directly in bitcoin.

Before I used to keep a rather large portion of my 'money' in fiat in order to pay bills which I now no longer need to do. I can now put more into bitcoin.

Another advantage of a service like this is that you can send a payment to your own bank account thus saving you from the hassle of having an account at one or other exchange where you would normally first go to sell your bitcoins for fiat and then withdrawing such to your bank account.