Topic: Bitcoin demand among Workers globally!! (Read 309 times)
Of course, many employees are interested in this. This is a good way to save for retirement.
Wow this is really great that people are becoming aware of potential bitcoin is but at the same time they should understand how much volatile bitcoin is.
What if the price of bitcoin dumps right after a person has received his monthly wages. The Employers should sign a contract determining the volatility of bitcoin and the employees must be aware of the risk. Only after such a contract the employees should have the option to receive the salary in bitcoin.
I would definitely get my salary in bitcoin
What if the price of bitcoin dumps right after a person has received his monthly wages. The Employers should sign a contract determining the volatility of bitcoin and the employees must be aware of the risk. Only after such a contract the employees should have the option to receive the salary in bitcoin.
I would definitely get my salary in bitcoin
undoubtedly, the trend in the cryptocurrency market can always change from the better to the worse, but nevertheless, we are now witnessing a real period of bullish run, which will be quite protracted. Even if we assume that today workers will receive Bitcoin as a salary, then theoretically this investment will bring them huge profits in the future. I believe that these are the goals that the workers are guided by, since Bitcoin today still cannot be considered a reliable storage due to its volatility.
This is exciting to see workers demanding to be paid but I was not surprised to see foreign workers, just imaging the companies that now accept Bitcoin a means of payment of goods and transaction will find it easier to yield to the call of their workers for a scenario like this but for my Country now till looking forward to the day that workers will demand to be pay in such.
That would be the greatest news for bitcoin and those workers community too. There has some point if the workers is a foreign worker then if he get paid in bitcoin and he wants to send his salary to his family then he might pay little fee. Where bank charges is little bit costly. There is a good sign. But there has also a problem like if the other country dosen't support bitcoin. This will be the problem. And we also know that bitcoin has 2 sites 1st is fully bullish and 2nd is fully bearish. Thats the risky point for the workers. If there money got crushed then it Will be soo bad for them. Lets see what progress done by them. Hope for the best.
It's not about 'demanding salary in btc to send to their homes', but their eyes are lately opened that they have missed out on a great opportunity already. The companies will not start paying any salaries in btc because the fees are very high and if the employees are looking to be paid in btc, better buy btc and send it to their home within seconds. What's the big deal?
If they will be getting a fixed amount of bitcoins, neither the employer nor the employee would want that because let's say $3000 is 0.05btc today but 0.05 btc could became $10k tomorrow and would bankrupt the employer or it could become $1000 and ruin the employee.
The companies don't collect bitcoins, they collect USD and they borrow USD from the banks. However, it would work they get the fixed dollar worth of bitcoins. But then, the employee would be getting USD but only using the bitcoin network instead of his bank account when he is collecting his pay checks.
The employee can buy bitcoins with his income any time they want from the exchanges any way. Why would they want to take them as bitcoin? It would only create more load on the network.
The companies don't collect bitcoins, they collect USD and they borrow USD from the banks. However, it would work they get the fixed dollar worth of bitcoins. But then, the employee would be getting USD but only using the bitcoin network instead of his bank account when he is collecting his pay checks.
The employee can buy bitcoins with his income any time they want from the exchanges any way. Why would they want to take them as bitcoin? It would only create more load on the network.
I might be one of the workers who is very happy to receive salary payments via bitcoin because as well as for future assets, if there is a need, just sell it in fiat
If the goal and main reason why workers are demanding to be able to receive or acquire their salaries in terms of Bitcoin because of the seamlessly fast transaction that can be held to send their salaries to their family at home, then it would be a good thing to be done since many big companies are now enganging into Bitcoin investment. But it must come first into better understanding the one can be able to maximize the usage of Bitcoin if he knows how to handle and make use of it properly. It will become nonsense being able to acquire Bitcoin as a form of salary to send back of home of the household have no knowledge prior on what Bitcoin really is. The demand might be increasing but still there will be lots of factors to consider to make such thing possible.
Funny how people believe in social networks and news like this that have no firm foothold, but are just the fruit of someone’s imagination. For the thing to work, workers and their families should understand how to handle Bitcoin wallets, what is a public address and what is a private key, how to set the fee correctly and how much it ultimately costs to convert from crypto to fiat.
Imagine the example of a worker who works in a foreign country and got a part of the salary in BTC and wants to send it to his family. Let's say he uses a custodial wallet (because that's what the company he works for requires), and the service will charge him a fee of 30k-50k satoshi, which is a minimum of about $17 up to $30. Furthermore, the family that will receive the BTC must sell it for a fiat, and that can cost them at least another 5% -10% of the amount they received.
All this of course carries the risk that no one in the process will fall victim to clipboard malware or fake wallet - and that of course the price of BTC will not lose xx% in value overnight.
Imagine the example of a worker who works in a foreign country and got a part of the salary in BTC and wants to send it to his family. Let's say he uses a custodial wallet (because that's what the company he works for requires), and the service will charge him a fee of 30k-50k satoshi, which is a minimum of about $17 up to $30. Furthermore, the family that will receive the BTC must sell it for a fiat, and that can cost them at least another 5% -10% of the amount they received.
All this of course carries the risk that no one in the process will fall victim to clipboard malware or fake wallet - and that of course the price of BTC will not lose xx% in value overnight.
I am actually surprised that the working class is willing to receive payment in Bitcoin. I get it if company executives and/or investors are interested in crypto, but most people in working class aren't getting it yet and have this biased attitude. All they need is a fixed salary which they are used to and can easily spend. I imagine if many of these people received payment in BTC they wouldn't know what to do with it and how to use it. Besides, what's the point in salary in BTC if many people spend whatever they earn in a month. They would probably convert BTC to fiat right away.
It would be helpful if you could give some real sources to this news because a pic from Instagram could simply be a joke to catch your attention.
It would be helpful if you could give some real sources to this news because a pic from Instagram could simply be a joke to catch your attention.
I don't know how much workers know about Bitcoin in the world wide. Bitcoin payment or salary it's so complicated issue, because when workers will send it to their own country for family and there it it's considering illegal stuff by government how they will convert in fiat money? i don't think its wise demand for the global workers even it's not stable coin.
Bitcoin demand workers and how, I think I need clarification because bitcoin the way am seeing bitcoin and the it works, I don't think there's a particular set of people who control bitcoin, or it has a specific place one Central place that people work. I have to notice that the life of crypto is differs.
I am sure that there can be a good number of people who are workers and are getting attracted with Bitcoin. However, this may not be that easy for any company to implement so the best thing to do is to educate these workers on how they can themselves invest with Bitcoin. Even Tesla as of the moment is not paying their workers with Bitcoin - correct me if I am wrong though. In the past, there were reports of some companies issuing salaries in the form of Bitcoin, but I realized they must have been just marketing ploy as nothing then happened after some months especially when BTC entered into its winter stage. Anyway, this is a good option to explore and I am sure that those who are eyeing on cryptocurrency will be excited to get paid in Bitcoin. Or maybe we should also encourage our freelancing sites like UpWork or even Fiverr to implement this idea themselves.
Here is my opinion. Workers' jobs and tasks create value, and that value can be calculated in dollars per hour of work. If we are going to pay them bitcoins, then regardless of what they did - whether it is a good job or a sloppy job, once Bitcoin price is up, then the value of what they did somewhat increased as well. But not all jobs are good jobs, there are those who are getting paid and did a mediocre or a sloppy job. That is not what the industry wants. So Bitcoin will never be used as salary, ever.
It'd be great for the mass adoption that's for sure. But I'm not sure about how many people would like to prefer such thing as getting paid with Bitcoin. Because they already can make investments after getting their salary in fiat.
I was also impressed by the message of this image on Instagram. I have found the link of its origin. I have not seen it mention any source. But the argument is consistent with reality, it is true that foreign workers are affected by sending money to their relatives if they do it with fiat: The transfer time and the cost are not compared if they do it with some crypto and in addition to taking advantages when they gain in price.
https://www.instagram.com/p/CM5V5dBl-tJ/?igshid=11cuq7976wcv3
https://www.instagram.com/p/CM5V5dBl-tJ/?igshid=11cuq7976wcv3
The demand for bitcoin in the international market is increasing day by day.
Thanks Captain Obvious, you don't say. Of course the demand grows because more people are blinded by the glitter that bitcoin emanates with its current prices, it will definitely make people want to get paid in bitcoin because they want to get their piece on the bitcoin pie. 
The demand for bitcoin in the international market is increasing day by day.
Even if the demand for bitcoin increase, many workers still do not know about bitcoin and they prefer to receive their salary in fiat money so they can use that money to buy their needs and they can use it for the other things. They will hard to cash out their salary in bitcoin, especially if there are no local store accept bitcoin as the payment and they need to use online third party that will help them to convert their bitcoin to fiat money. But still, that is a great idea if the workers can accept bitcoin as the salary because that can open the opportunity to them to have a new investment. 
On the other hand though, I'm quite surprised that stablecoins seem to not be gaining that much traction for overseas workers. While I sure love bitcoin, some of them simply cant afford the potential losses from the volatility.
The volatility is the main reason making people afraid of bitcoin. Bitcoin is still in the first (or maybe second) phase of being acceptance and therefore, the price surge strongly over 10 years. There are people who cant accept the risk involving. They believe they have worked very hard so that no one is able to steal their money. They also want to stay away from any term of investment. When bitcoin becomes more stable (it will occur when the power of bitcoin = gold), they will definitely invest their money in bitcoin. That is not too late at all. Gold is still being bought by tons of people
Jump to: