Topic: Bitcoin for salary - page 5. (Read 2344 times)
I think this could be a good method for payment to employees but there are some countries where bitcoin is not legal so in that case employees can't accept payment using bitcoin but still this method is possible where bitcoin is legal like Europe japan and some other countries but countries like India it's not possible because goverment does not legalised bitcoin as a legal tender
I think bitcoin as a salary is not quite good because the market price of the bitcoin is volatile and if you are just a typical person who would like to earn a same amount of your hard work and the price of the coin drops its a huge problem instead you have a good income and paid fairly. Its better if they have some options about making changes on their salary if they want to make it into a bitcoin or make it into a fiat but only support the use of the investor and a trader but if you don't mind the use of the bitcoin you can choose the fiat currency. Also I think with the age of 20s are the one who start makes an investment on this but if you are in the year of elder i think they don't need this kind of bitcoin salary all they need is the real money so they can sustain their life and support their families.
That would actually depend on the value of Bitcoin since people doing that job needs to still earn the right amount of their salary and being payed in Bitcoin is an opportunity to have it fluctuate at any second BUT there must be some necessary regulations made by implementing that since it would be unfair to just give people lower salaries.
I don't have lot knowledge about different things about legalities or some government things.
I am become curious about paying an employee using Bitcoin direct to it's Bitcoin wallet.
Like these days, some of our salary are paid in different method, some are being deposit on some bank accounts, some are cheque, some are cash directly.
i am open on this,actually once in our meeting i opened this up and the bosses ask me to elaborate what is the advantageI am become curious about paying an employee using Bitcoin direct to it's Bitcoin wallet.
Like these days, some of our salary are paid in different method, some are being deposit on some bank accounts, some are cheque, some are cash directly.
or if this will be a good idea.
But after a year still no update so i am planning to follow up before this year ends for clarification,maybe our bonus will be in Bitcoin
I want to ask if we will make official method for paying our employees in Bitcoin directly to their Bitcoin wallet.
Is this method is not foul on the government? Or it is legal?
Especially on the department of government that is about the labor or employment.
i find nothing illegal on this,we as employees/workers are entitled to received payments,either check,online or physical so this is about Us Is this method is not foul on the government? Or it is legal?
Especially on the department of government that is about the labor or employment.
and the employer how they wanted us to be paid.
I think bitcoin as a salary is not quite good because the market price of the bitcoin is volatile and if you are just a typical person who would like to earn a same amount of your hard work and the price of the coin drops its a huge problem instead you have a good income and paid fairly. Its better if they have some options about making changes on their salary if they want to make it into a bitcoin or make it into a fiat but only support the use of the investor and a trader but if you don't mind the use of the bitcoin you can choose the fiat currency. Also I think with the age of 20s are the one who start makes an investment on this but if you are in the year of elder i think they don't need this kind of bitcoin salary all they need is the real money so they can sustain their life and support their families.
~
The one real problem being paid in bitcoin has at the moment is the volatile nature of the price Vs the dollar. It's comparable to the great depression. You would work till noon, get paid, go out and buy *anything* work the rest of the day get paid again and what you were paid would have less buying power, so you again go out and buy with what little money you made. You end up not saving any funds and can't afford to buy anything more than essentials: Bread / Milk / tea/coffee...
Quote
Also, most people don't care about the purchasing power of their salary at the time of payment. They want it to be stable, for several months, at least, for their convenience. People don't want to gamble with their salary.
The one real problem being paid in bitcoin has at the moment is the volatile nature of the price Vs the dollar. It's comparable to the great depression. You would work till noon, get paid, go out and buy *anything* work the rest of the day get paid again and what you were paid would have less buying power, so you again go out and buy with what little money you made. You end up not saving any funds and can't afford to buy anything more than essentials: Bread / Milk / tea/coffee...
I disagree. When you are paid in Bitcoin, it's not certain that your salary will get less buying power with time. It's an undeniable fact that you can also profit from waiting. And if you don't want to gamble with your salary, you can always exchange it for a hard currency, like USD, Euro, Swiss franc or British pound sterling, right away. But one might ask, what's the reason of being paid in Bitcoin then? Well, in some cases it's easier to find a job abroad if you are willing to receive payment in BTC.
I don't understand how what is standard and is already running well, the system wants to be changed just because it accommodates bitcoin. I don't think it makes sense that it makes it even harder for them to exchange them when they want to shop because we know that not all of them can accept bitcoins.
It should be choice available to their employees by the employer if they want to get paid in bitcoin or in fiat. Not many countries have the merchant accepting btc for their good or services but some of them do accept it and helpful as well while transferring money from one place to another which is quick and cheap as well. But not sure how many companies have this option given to their employees. In near future this will be given more importance for sure.
I think these things are possible for those countries that consider bitcoin as legal, there are still some countries who don't use any cryptocurrency so for sure they wouldn't be recommended for that thing, one issue for this is also if the countries are good at bitcoin then what if the employee in the company is not using any bitcoin wallet or they don't have any knowledge about cryptocurrency, I think it would be hard for them if this would be the situation.
Your idea is really good especially at this time, but I think the majority will still prefer to be paid through their bank accounts.
Your idea is really good especially at this time, but I think the majority will still prefer to be paid through their bank accounts.
I don't understand how what is standard and is already running well, the system wants to be changed just because it accommodates bitcoin. I don't think it makes sense that it makes it even harder for them to exchange them when they want to shop because we know that not all of them can accept bitcoins.
Well about your question Ill think it will need time to discuss from a government if they are allowed the payment will be bitcoin. So many process to make to be acceptable because we are having used to our salary is using cash or transfer in our bank account and cheque. And actually that was a good Idea for us doing in cryptocurrency but the other people has not familiar about bitcoin maybe they are against on it.
A few people here are over-analising being paid in BitCoin. Say your wages are $ 1,000 and you end up with in the hand $ 850 - that amount is translated into BTC (less a nominal transaction fee) - Regardless of the price rising or falling, you were paid $ 850 in bitcoin, so that's what you were paid... $ 850.
I feel like it can be valuable information, but I don't get what you mean, tbh. Why someone is receiving $850 instead of $1,000? You don't mean that transaction fee can be $150 today, right? So, what happens with $150 then? Or do you mean income taxes on wages?
TAXES - I was meaning taxes.
Quote
Also, most people don't care about the purchasing power of their salary at the time of payment. They want it to be stable, for several months, at least, for their convenience. People don't want to gamble with their salary.
The one real problem being paid in bitcoin has at the moment is the volatile nature of the price Vs the dollar. It's comparable to the great depression. You would work till noon, get paid, go out and buy *anything* work the rest of the day get paid again and what you were paid would have less buying power, so you again go out and buy with what little money you made. You end up not saving any funds and can't afford to buy anything more than essentials: Bread / Milk / tea/coffee...
There are some reasons why an employee may request his or her boss or company to pay in Bitcoin:
1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits
Well, you have a good point on this. If the employees will adopt bitcoin or other cryptos as a mode of payment on their salary, --will definitely good. 1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits
The mentioned above was right, perhaps it will only take only a half-hour upon distributing the salary will immediately on their wallet. Not just like using payroll to pay their employee will perhaps consume almost 1 day processing the salary per month. However, you will also give an attention the disadvantages upon using and accumulating bitcoin.
Its not a bad idea if one chooses to receive his or her salary in Bitcoin but it also depends on the laws of the state or country it's disadvantages will be those who are not acquainted with the system it brings alot of issues ... But will love to receive my salary in Bitcoin although its not an adopted system in my country
There are some reasons why an employee may request his or her boss or company to pay in Bitcoin:
1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits
Right now, my salary is in Bitcoin, Ethereum or USDT and got no problem whatsoever. As long our country legalizes Bitcoin as mode of payment, there would be no problem for clients or companies to pay their employees with cryptocurrencies.
1. Mass adoption and awareness
2. Chances that BTC may rise it's value (but also lose value) and he or she should understand these risks
3. Easier way of receiving payments than just payslips or bank deposits
Right now, my salary is in Bitcoin, Ethereum or USDT and got no problem whatsoever. As long our country legalizes Bitcoin as mode of payment, there would be no problem for clients or companies to pay their employees with cryptocurrencies.
~
One country I know that legalized the usage of Bitcoin to pay employees salary is NZ. Although I am not entirely sure if there are specific companies paying their employees with any crypto coins of any sort, but due to its volatile nature, I doubt that people that just recently heard about it would allow it.
I wouldn't mind getting paid in that any day.
I don't have lot knowledge about different things about legalities or some government things.
I am become curious about paying an employee using Bitcoin direct to it's Bitcoin wallet.
Like these days, some of our salary are paid in different method, some are being deposit on some bank accounts, some are cheque, some are cash directly.
I want to ask if we will make official method for paying our employees in Bitcoin directly to their Bitcoin wallet.
Is this method is not foul on the government? Or it is legal?
Especially on the department of government that is about the labor or employment.
I think that this is not a problem especially in more developed and progressive countries. For example, such as Germany or England. In countries where bitcoin is currently not legalized and banned from circulation, it will be more difficult to do this, since there bitcoin does not have legal force, and labor remuneration always implies bureaucratic costs. I am become curious about paying an employee using Bitcoin direct to it's Bitcoin wallet.
Like these days, some of our salary are paid in different method, some are being deposit on some bank accounts, some are cheque, some are cash directly.
I want to ask if we will make official method for paying our employees in Bitcoin directly to their Bitcoin wallet.
Is this method is not foul on the government? Or it is legal?
Especially on the department of government that is about the labor or employment.
That would be a good idea only if all you workers are cryptocurrency literate or if it an ICT organization,and to get this all the staff must be surely oriented to agree willingly to accept that means of payment so you won't find yourself to blame incase of any complications but I will suggest you keep on receiving your salary the way it has been coming while you may convert yours into cryptocurrency.
They don't have to be literate because you as employer will Let them learn about crypto and tell them the advantage and disadvantage of this currency.In that are they will be accepting Bitcoin and also will use Bitcoin.
THis is a win win situation since we wanted to explore the use and knowledge about Bitcoin and also cryptos.
That would be a good idea only if all you workers are cryptocurrency literate or if it an ICT organization,and to get this all the staff must be surely oriented to agree willingly to accept that means of payment so you won't find yourself to blame incase of any complications but I will suggest you keep on receiving your salary the way it has been coming while you may convert yours into cryptocurrency.
First, you need to find out if bitcoins are legally used in your country.
If not, don't even think about paying employees in Bitcoin.
If your country accepts bitcoin, then you should create an agreement with your receiver and declare a disclaimer of the bitcoin price increase and decrease.
If not, don't even think about paying employees in Bitcoin.
If your country accepts bitcoin, then you should create an agreement with your receiver and declare a disclaimer of the bitcoin price increase and decrease.
I wouldn't mind getting paid in bitcoins. It would make my life a little easier. But only if I could make all purchases using a crypto card.
I dont think so as it will stop the regulations of local currency that was supported by the government.
Jump to: