[2017-12-13] Paying Salaries in Bitcoin is Becoming Trendy

squatter

legendary

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STOP SNITCHIN'

Quote from: richardsNY on December 14, 2017, 02:33:16 PM

Trendy? Maybe. Wise? Not really, unless it's concerning a low percentage of your salary that you would otherwise put aside in your savings account.

I think that's the idea at this point, similar to rolling a small portion of your salary into a retirement account. For example, GMO (the Japanese internet conglomerate) is rolling out their options this way:

Quote

Employees will have a lower limit of 10,000 yen (around $88) and an upper limit 100,000 yen ($882) for the bitcoin portion of their monthly salaries, and will also receive a bonus of 10 percent of the chosen amount as a "incentive," according to the firm.

Taking a rough estimation of Japanese wages across a corporate firm, I would guess this 10,000-100,000 yen limit is something like 1-10% of monthly wages, depending on the position. Personally, it's a bit upsetting that I've had money locked in my employer retirement account for so long with no access to Bitcoin investment options. I hope we see 401k options next year.

richardsNY

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Trendy? Maybe. Wise? Not really, unless it's concerning a low percentage of your salary that you would otherwise put aside in your savings account. For a lot people living from paycheck to paycheck it won't be that much of a smart move. If you need to use every penny of your salary every month, it will be a tough time if the market happens to tank big time. If I was given the option to get a certain percentage of my salary paid out in Bitcoin, I would probably not utilize it since I prefer the freedom to choose my own timing of buying Bitcoin. It's not like it's something groundbreaking in the way that it is then only way of obtaining Bitcoin.

Zicadis

legendary

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Dump it!!!

Besides getting paid for the work done I think this would also encourage its users to save which in the long run would reward them with some extra cash and bitlancers idea of paying freelancers in bitcoin or other cryptocurrencies should definitely encourage people to become more resourceful unlike lazing around wasting talents that can be monetized.

Samarkand

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Quote from: Kemarit on December 14, 2017, 10:57:07 AM

...I heard that GMO Japan has already implemented it...

Yes, they did. But according to the articles that I´ve read they imposed certain limits for getting your
salary in Bitcoin (If I recall it correctly the upper limit was roughly 880$).

This is obviously great news and illustrates the increased acceptance of Bitcoin among big corporations.
However, we still have to wait until people can actually receive their full salary in Bitcoin and not just a small
percentage like the employes at GMO Japan that will participate in this offer in the future.

Xavofat

hero member

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Did you see that ludicrous display last night?

Well, it's obviously optional. Long before this "trend" (which only spans a few companies), you could have asked an employer directly to pay you in BTC and see how they respond to you.

Also, you could have accepted BTC indirectly by using Bitwage.

Regardless, even though I'm open to the option being available to employees, I doubt that I would personally want to accept BTC for work. It would be too dramatic a portion of income.

Kemarit

legendary

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In my opinion, there's a reason behind why companies, specially IT companies are willing to pay their employees bitcoins, they also have investment in it. Another reason is that maybe they want their employees to invest as well. More investors more profit to all of us. So each party will greatly benefits in some way.I heard that GMO Japan has already implemented it. And just maybe others will follow as well. Let's see how everything pans out though. I hope that employees that will get their salaries will also have the mindset to really invest, but we could force them and I wouldn't be surprise it only a few are willing to put in the line their salaries in the ecosystem.

1Referee

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Quote from: Lancusters on December 14, 2017, 10:11:33 AM

It is beneficial to all only if the company earns money in bitcoins. If trade only for Fiat I don't see any sense in such payment.

It's not just a way of simply paying employees in Bitcoin. These kind of initiatives are meant to attract tech savvy people that are looking for a cooperative environment to work in and contribute to. That at this point is the main reason businesses are paying employees in Bitcoin. These tech savvy people are thinking completely different, which directly requires businesses to approach them differently, and this definitely is a great way of doing so. It makes people look at that business from a different perspective, and likely sooner fit in their ideal working environment. If it was just about paying people in Bitcoin with no thought behind it, it would basically not have that much value since people can buy Bitcoin directly themselves at any time of the day.

Lancusters

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It is beneficial to all only if the company earns money in bitcoins. If trade only for Fiat I don't see any sense in such payment. But if such cases will become more we will have the constant expansion of the possibilities of using bitcoin. The popularity of bitcoin will rise and this will push the price up. In our eyes, the emerging alternative economy.

Guardian.P

sr. member

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Pandora's Tokens Bounties

It's a cunning plan. Every month to pay less bitcoins, because the price of bitcoin grows, it is profitable for the campaign and the employee. If in the summer 1 bitcoin was paid
now about 0.117))). Brilliantly

Jgilpulg

member

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Merit: 10

Many believe that offering salaries in Bitcoin will make it easier for companies to retain and attract talent.

https://bitcoinist.com/paying-salaries-bitcoin-becoming-trendy/

Topic: [2017-12-13] Paying Salaries in Bitcoin is Becoming Trendy (Read 411 times)