Topic: Can Bitcoin help to balance salaries across the world? (Read 882 times)

Signature campaigns are actually an interesting example for the effect I wrote about in the OP.

I don't know what you refer to exactly when you wrote "their pay rates to users are different", probably to the higher/lower payments per campaign, or per user group (Legendary, Hero etc.). But the payment is the same regardless of the geographic location of the user (which is unknown in most cases).

So with signature campaigns we have one of these rare cases where a payment for a service is already "balanced across the world".

This however has probably some consequences to the type of users who write for signature campaigns. While in some less developed countries a signature campaign payment may be already similar to the income of a regular job, in the US or Europe it probably is an additional income, or done by students for example. This is not so different for other simpler freelance work open for international applicants, like simple programming tasks to help IT students, SEO texts and so on.

The "balancing" effect was actually even more pronounced in the past when most signature campaigns even calculated their payment in BTC or other coins, and not in USD.

That's right. And this salary/price situation in certain places creates interesting moments. For example, I think it's cool to live in a small city where everything is cheap, and at the same time earn a big salary, best of all through remote work. Because a person with such a stack will keep more money for himself than someone who earns a lot, but also spends a lot. And as a result, the latter may have more expenses than earnings, I've seen such situations.

It will be difficult for the world to accept bitcoin as a universal means of payment of salaries aside from the differences in the policies of different governments, which differs as to the ideology of these leaders, the volatility of the bitcoin market and its decentralization may not allow governments to adopt the bitcoin.

Bitcoin is a good alternative for the centralized system, but isn't meant to take over everything because as a technology, it comes with its own limitations. In the end many people who will receive their salaries in bitcoin will change it to their local currencies or at least stable coins to be able to use it in the market, which makes the process longer and tiring.

that would work in a world where everything is equal. The point is that a freelancer in africa would be happy with for example 1000 usd for a month of work, and someone in the usa or europe would not do anything for that amount of money, bacause it wont be enough to make a living. And freelancers will compete on price. Years ago we had a job posted on some freelance site. First an offer of 3k from the usa, than 1.5k from GB, and then more and more offers from india, ending @ 400 or something.

In the first place, salaries shouldn't be based on location, but the offline cooperate companies have to pay according to the cost of living in your environment... Subsequently, the online market stopped to care about such a concept of payment. Thus, every online worker started earning as a result of the level of impact they add to the company or industry.

For example, freelancers on same level of skill like Op mentioned earn similar salaries regardless of their nation. In a nutshell, with bitcoin being the medium of payment the location of a writer in USA won't be enough reason to earn higher than another writer in Africa. What now determines their salary is the skill and impact they've got to offer for the brand.

At the moment I do not think we should all have the same salary because in every area the cost of living is different. If you live in San Francisco or NYC you cannot pay rent with 2000$, while in some countries rent would be only 250$ a month. Same with health care, food, etc.

In different countries, companies will provide different salary offers to their workers. Even Google, Facebook, Apple, international giant tech companies, they don't provide similar salary offers to their employees at same positions but are working in different countries.

Salary is related to life standard and general income in a nation and companies are smart enough to adjust their salary policies in different countries.

In forum, we have different companies with their signature campaigns and their pay rates to users are different too.

Signature campaign: The lowest and highest payment BTC and USD in 2013-2022

A person with a low income in his country will look for opportunities to find a higher income by looking for a job on the internet that is paid with Bitcoin.
Why should it be measured by the balance of the salary that someone gets with fiat in this part of the world.
Bitcoin is unique, I think those who are paid their salaries with bitcoin are happier than with fiat because they can hold and use it for their investments.

In addition, a country will have different incomes that will be obtained by workers, both in government and casual workers. Also in some countries Bitcoin is only an investment tool because doing anything else will be against the laws that are applied because they have their own currency.

And this is true. Firstly, people will not perceive Bitcoin as something really valid, I mean a means of payment. They will exchange it for dollars immediately after receiving their salary.

And secondly, all countries have their own currencies, depending on many factors, and 99 percent of countries will not agree to exchange them for Bitcoins. Because they cannot control the first cryptocurrency.

It would be an excellent idea if Bitcoin is used for payments and salaries around the world but I don't think that it will be possible for it to balance salaries across the world. The whole countries in the world have their own fiat currencies so Bitcoin is only accepted as an alternative currency, furthermore the standard of living differs from one country to another. Workers can be paid in Bitcoin but it will either be in the value of the country's fiat or USD. If the adoption of Bitcoin increases to the level that it is accepted for payments everywhere in the world and the gap between the rich and poor countries is not too much then Bitcoin can balance salaries across the world but it is near impossible for this to happen.

When it comes to Inequality then this would really be always be the difference in between to those who do earn less and more basing up on the position, education attainment, experience and on where you do live.
Lets say that we are focusing when it comes to online works or job then come to think that foreign companies or bosses would really be wanting on hiring up people on which they are living on 3rd world countries.
Why? because the labor cost is really that just too cheap in comparing into those 1st world and thats why you cant be able to say that you are earning more just because your employer do give out that said currency.
There's always those main difference in between things on which this is something inevitable and cant really be eradicated. As for Bitcoin payment or salary then it would be understandable that it could be equalled
but come to think that they would really be still that basing up on USD or fiat value which we know that there's still that gap or difference.

Moving is a great motive when you have more money and better life standards for even the same job. It doesn't even have to be a great job, you can be a washer, working in a restaurant and clean dishes all day and then you would still have a better life. This is why people move to Europe, a lot of my friends did, if you have a good job then it's even better.

But remember one more thing, even if you are wealthy in a poor nation, that's still not a good thing, because you still have burglars, thieves, murderers, kidnappers, or even just overall poverty all around you when you are richer than them, and you would rather live somewhere that is more modern and vilized. These days Europe isn't like that neither and they have plenty of crime issues, but at the very least it looks more modern and vilized on surface.

What’s your solution? Do you think the seniors should get the same paycheck as the newbies?

That’s not how capitalism works. The seniors are getting paid better because the employers know that they bring more value to the company. Having more experience and knowledge pays more.

Today’s newbies will become seniors in the future too. So instead of complaining, you better get to work.

Global salary comparison is an exciting use case for Bitcoin, but again, a number of very significant challenges are ahead. Although Bitcoin's adoption is on a very good path, especially in places like El Salvador and parts of Africa, it is still not adopted widely enough for a stable presence globally. The Bitcoin market is still quite volatile, that makes some employee and employer deemed Bitcoin as unreliable to be used as main currency for salary. While the volatility has decreased a bit in 2024, it's still an issue keeping Bitcoin from wide usability as a salary standard.

The adoption of Bitcoin in the freelance world is growing but remains niche. Although some platforms, like Nostr, together with a few freelance markets, are trying to experiment with Bitcoin for payments, also we can not ignore some blockchain based freelance platform that also help spread Bitcoin in the freelance world, like laborX and Crypto task. However USD still holds the most currency due to its relative stability and wide accessibility.  But theoretically, a global currency such as Bitcoin can help with that, practically speaking, we are quite far from seeing that on a wide scale, a more stable environment and greater access would be needed first.

I'd say a "digital currency without geographic restrictions" would be the most accurate term, but "global currency" is serviceable enough.

Yep, currently Bitcoin "salaries" have their challenges and they may fit only for a small number of businesses, and thus it's only quite popular in the freelance world (e.g. through platforms like Bitwage).
It would be interesting though, if you know, which platform your friend used and how high the costs were. And were these transaction costs or more related to hedging?

Good points raised here. Bitcoin still fits into the scenario: if you have a highly standarized production structure (factories using similar processes across the world, services using the same software, etc.), then it becomes less justifiable why you are paying people from certain geographic regions less than those coming from other regions, at least if their productivity is equal. And an unified currency would show this to everybody.

It's of course not "magic" in no way (see also @slapper's post) but it can help, as already written, to influence the "sense of value".

It's a Good one tho but don't you think with the way the economy is going now that everyone has it in mind to own and start using Bitcoin cause I see the way most users in the crypto space regret of not knowing about Bitcoin a long time to have gone far in investing in it and so on, I also see how people make use of the symbol In every areas like making it visible for people to see.
But in the salary aspect i don't think it can really help cause looking at the value of fiat currency and rise in dollars Bitcoin can substitute for the both but there is need for a change  cause with time it takes only few to be able to pay up salary using Bitcoin due to the high rate.
I think for Bitcoin it has a high tendency of price alterations and if it's actually stable it'll be suitable for companies to be able to pay and balance up with salaries.

I already assume this does happen over decades, but not directly just from Bitcoin but as an overall trend change in the nature of economies.  Previously most work was arranged around a physical item made and moved around the world but its becoming far more true we have an economy of information and this is the value not so much physical.

Raw commodities will still matter and the elements we mine and refine will be the same as we've done for centuries or more.  Some parts of business will not alter and even change will be slow on those that do such as oil, usage will continue a century longer alongside various energy innovations and improvements.

Its also correct to say information is not new, services as a sector of the economy has long traded information even when it was done by telephone this in itself was a revolution to make the world smaller.  I think we do have to acknowledge that pre existing condition is increasing in its importance and size.    Now something like a 3D printer helps to emphasize the design of a product as most important with the elements to its production almost secondary and far more commoditized.

Final point is obvious, Bitcoin is an important expansion of this world growth, its part of why I think Bitcoin has good justification regardless of whats occurring with pricing for strong base line growth.    BTC is not just speculative or some temporary apparition but part of a process that begin long before its inception to enable anyone anywhere to do anything they are most capable of.
   The idea and the person is the most important part, enabling people in their work and abilities will make the world richer and I do hope more equal also.

We're so damn obsessed with the word "salary" we forget it's just a deal between two parties. You provide value, they give you something in return. Bitcoin's the equalizer. It doesn't care about borders, politics, or your grandma's favorite bank. People think stable means flatlining wages worldwide. Bullshit. Stable means the money in your digital wallet today is worth something tomorrow.

Bitcoin salaries? Sounds like a dream for digital nomads, right  "Oh, I'll just code from Bali and get paid in Bitcoin." Wake up, people. Bali's cheap, New York ain't. Taxes, living costs, they don't disappear just because you're getting paid in magic internet money. Bitcoin can make salaries more comparable, not perfectly equal. That's the reality check. You can do it, but it's gonna take a hell of a lot more than just wishful thinking

Bitcoin is not a global currency, Bitcoin is a digital currency, I have a friend who opened a business and he pays employee salaries with Bitcoin, unfortunately the salary payment system only runs for three months, Then the employee's salary is paid back as usual, the reason is simple, the costs are expensive, it doesn't match what was expected.

Likewise with several other sources in terms of business in Bitcoin payments, they return to paying salaries as usual, for me Bitcoin is not suitable for salary payments, Bitcoin is very suitable for investment and trading, because the price of Bitcoin can change significantly.

I agree with you. Because European countries are taking advantages from the poor asian people who sold their everything to work in big and advanced country. But that is also helpful for Asian countries because in Asia there is more poverty than in Europe and America and people are migrating from Asian countries to Western countries because they saw successful people who became successful in Western countries and before they were very poor and their parents took step for them to send them in Western countries. Now youth is crazy about that and that want to earn money at any cost and they are ready to work like labor but they want good about of salary.