Bitcoin Evolution payment systems on the road to international success

Honestly, we all don’t like to pay our bills. But the thought of being able to pay our bills in digital currencies in the future probably brings a smile to the face of many a reader. Bylls was founded at the beginning of the year. Bylls is a Canadian company that allows its users to pay the bills of more than 6,000 companies (including the government) with Bitcoins.

It was one of the first companies of its kind in the world. However, it has ignited a real fire and there are more and Bitcoin Evolution more providers following the Bylss business model. Nowadays you can already pay your basic supplies or taxes with the help of these companies. As with Bitcoin’s retail payment providers, these companies take care of the entire process. No company has to deal with the matter in a great way or even needs to implement an individual payment process. There are many different providers who often only differ in detail.

Bitcoin Evolution differ in detail

The Australian company Living Room of Satoshi (LRoS) is now promising BPAY network users to pay all their bills free of charge in Bitcoin. BPAY is a universal bill payment system that allows people to pay their bills over the phone or over The Bitcoin Evolution is a scammy-looking website the Internet using just a two-digit code. Almost any mid-sized or large company uses this service provider, including municipalities, governments and credit card companies. To pay the bill with Bitcoins, the user only needs to enter the BPAY bill number, the two-digit code and the amount at LRoS and the payment can be made using a QR code. The user receives a receipt within 30 minutes.

The long-time businessman and co-founder of Living Room of Satoshi had previously founded an e-commerce company dealing with the shipping of live aquarium fish. He already Bitcoin Evolution has a lot of experience with various payment systems and their transaction fees. He has also worked with various banks and payment processors. Through all these valuable experiences he once became aware of Bitcoin.

He says about the company:

“There are no fees for using LRoS. We don’t make any money with the service either. Ideally, Living Room of Satoashi will always be free. How is that possible? Thanks to our plan.”

The plan is to strengthen the Bitcoin community in Australia and to have a QR code printed on all bills at the same time so that the customer can pay the bill directly in Bitcoins. The plan to pay the bills via BPAY should allow the user to get used to Bitcoins and get used to the topic.

Quantified, Singapore
Similar to Living Room of Satoshi, Singapore-based Quantified offers onlinebetrug its users the ability to pay bills and taxes with Bitcoins. The company, which was founded in March, offers several Bitcoin functions, the billing system being one of them. Finnish co-founder Ville Oehman describes the service as paying by credit card in a foreign currency: the recipients receive the amount in the local currency without knowing in which currency they originally paid. Thus, the Bitcoin is automatically converted into Singapore dollars for the payee. In order to pay in Bitcoins, the user only has to enter the invoice details on the Quantified homepage and receives a QR code. After he has transferred the Bitcoin amount to the address stored in the QR Code, he receives the confirmation shortly afterwards by e-mail.

Quantified charges a transaction fee of 2.9%. Since Bitcoin transactions are taxable in Singapore, a tax of 7% (Goods and Service Tax) is levied.

Austrian FMA warns against fraud with digital currencies

The Austrian Financial Market Authority (FMA) is now also joining the cryptoscene. The supervisory authority issued a warning against virtual currencies, including Bitcoin. The warning is basically similar to the cautious statements of many central banks and government institutions around the world. While other authorities and governments published their warning in 2014, the FMA decides to wait and see when the warning comes out with the increasing popularity of Bitcoin.

The warning, however, tends to focus on the multiplicity of crypto scams, especially the Ponzi scheme that promise particularly high profits. The statements of the FMA advise extreme caution when it comes to virtual currencies and investment models in this area. Since the digital currency sector is unregulated and unregulated, investors are exposed to swindling and fraud. This also means that investors cannot expect compensation for damages or other losses from their investment in digital currencies.

There are many examples of people who have fallen victim to snowball or other pyramid schemes. The MMM Global site, run by the infamous Sergei Mavrodi, is one such scam. Many investors worldwide, despite the shady history of this company, have invested their money – only to lose it in the end.

But it is not only the FMA that is starting investigations into such investments in Austria. There are some investigators in the Austrian Bitcoin community who are trying to raise awareness for such fraud.

The FMA is now working with public prosecutors to investigate the business model of these crypto investment programs. The aim is to find out whether these are criminal offences.

It remains good advice for potential investors to first conduct a fundamental investigation into their goals. Important here are experience reports, appearances in news portals (as with BTC-ECHO) or direct conversations with people from the community. In addition one should be careful with promises which are “too good”. To become a millionaire overnight would certainly be nice, but special precautions should be taken here.

A nice list of potentially fraudulent investments can be found here.

Opinion of the author (Danny de Boer):

“As the popularity of crypto currencies increases, so does the number of newcomers to the field. For all of us digital currencies were once ‘new’, so it is all the more important that we draw attention to so-called ‘scams’.

This view that an investment is particularly lucrative because nobody has yet ‘discovered’ it is dangerous! Exactly this feeling is it, with which cheaters lure ignorant humans into their trap. Almost everyone wants to make fast money (which is not bad in principle) and many also want to get their chance to jump on a train like Bitcoin when it has just started.

Information protects. Before you can win a bet anywhere, you can also lose it completely. In the case of certain ‘coins’, which have pretended to be crypto currency, whole existences and their families have been destroyed. And I don’t wish that to anyone. Stay informed! We are at your side with any questions!”