Tasmanian Retail Service Provider (RSP) Launtel has joined a growing list of companies that accept Bitcoin as payment for their services. Recently we brought you news that you can now buy a Tesla with Bitcoin, which was quickly followed by news you could buy a gaming PC with Bitcoin from Dream PC Australia (among other cryptocurrencies) and now we can pay our NBN internet bill with Bitcoin.
There is exactly zero information about this on the Launtel website, but a big thanks to Ahmad Kishani who is a Launtel customer who provided the tip about the new payment method.
The screenshots show from the account page, you can review your balance, then select the ‘Recharge’ button to pay your account balance. Under payment method, there’s now an option for Bitcoin, adding to the typical credit card options.
From there you get informed about the current BTC value and are provided a QR code to scan, in order to pay the correct wallet address.
As I’ve mentioned in the past, paying for general goods and services with Bitcoin is an interesting proposition for the person holding the crypto. Given Bitcoin’s historic rise in value over the past year from around $6,000 to $60,000+ its hard to argue that its a great investment to pay a bill, buy a computer or even a car with something appreciating that fast.
At the time of writing, 1 Bitcoin is worth A$82,975.56 and has a 1.54 Trillion Market Cap, up 4.6%+ in the last 24hrs.
While nobody can predict the future, it seems reasonable to expect some kind of growth to continue with Bitcoin, given its high-demand and programmed scarcity. As Bitcoin becomes accepted in more places, it also helps to fuel the fire of future price rises.
If you have a single Bitcoin, you’d be crazy to spend it on your internet bill, even a year’s worth of internet, as you’d most certainly look back in time and regret it.
Those who either mined or purchased Bitcoin early have likely made many, many more times than they ever expected with that investment (in power or dollars). If you’re in this situation and are financially secure then maybe you do start considering how to buy real-world products and services with that digital asset.
For a business, accepting crypto isn’t terribly expensive and especially with Bitcoin, there’s a decent chance that the value you get paid in Bitcoin now, will increase in the future. Compared to accepting cash, it’s a dramatically different proposition, given making any money on your cash income would need to done by earning interest and in the bank right now, that’s a big challenge. Sure you could invest in stocks, but if its growth you’re after, Bitcoin looks like one hell of a place to be investing (obviously not financial advice, do your own research).