Topic: Can we adopt altcoin to pay wages? - page 4. (Read 1749 times)
The mellow irresoluteness of the market-place, due to what whether individual who doesnt knowledge the market irresoluteness received some altcoins
If you receive a salary in crypto, that it must be adopted by the country you live in. You’ll have to pay your taxes in crypto as well then. Every time you earn smth in crypto - you pay taxes:)) and it is the opposite to the idea of decentralization.
For a certain point we can adopt but there are many issues with that adoption. Since the altcoin prices are not stable no one will like to get their wages in a unstable currency format. As well as the ecosystem is not widely develop to form such a wage system because people will face lot of difficulties to do payments and spend the altcoins at each and every moment they want. And there are much more difficulties when implementing such a system.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
I think it can be easy achievable if the employees was agreed to get the salary in alternative cryptocurrencies, and one of the main problem is volatility of those, so you can never know what would be the amount of salary that you would get this month, lol. What problems can be occurred to adopt it?
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
I am already working with some guy from Russia, and to avoid all those difficulties that can occur while you are transferring money from Russia to United States we are making the payments In Waves coins, for now waves are so much cheaper than they were, but anyway. What problems can be occurred to adopt it?
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
Of course yes we can adopt by it but if you tell it to people who even don't know of it maybe something will happen to you. Adopting to this new technology is not easy, first people need to know what it is, what is cryptocurrencies maybe more years need to get to that. What problems can be occurred to adopt it?
Of course, it can, if you can adjust to the market price at that time. But of course, it will contain various risks. Like, the occurrence of altcoin price increases when you have paid to your employees will make your employees earn money that exceeds his salary. If the price of altcoins decreases after being distributed to your employees, the money they have will be depreciated and lower than your normal salary.
Therefore, it may happen that a person when receiving a salary will count on one amount, but will get a completely different and not a fact that will be in the black. Also the problem with needing to pay taxes on the cash you pull out, assuming you will be paying proper taxes to begin with, would mean the employee would be double taxed.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
actually we can use digital currency for wages but we need to accept that volatile price of it so after you already got your wage like you got already your altcoins better to exchange that in btc then in fiat so even we have volatile price still you already exchange your wage,i think also better have dollar for wages because we don't need to exchange that faster not like the volatile price of digital currency so i post only the possible things that's all both digital currency or fiat are good for wagesWhat problems can be occurred to adopt it?
I don't agree with your opinion, wages are fixed, while ALT coins is Volatile.anything can happen at any given time in the market, price value of one coin can drop or goes up... are you willing to pay wages with high price value on the market at the said time. another thing to consider is the willingness one your employees... this are thing the government want to look into the Regulation of crypto coin as main stream currency for circulation.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
No, I think that at the moment it's impossible, for a few reasons. For the first altcoin is a very unreliable currency, the price at any moment may change. Secondly, the received salary will still have to be converted to a credit card, as most stores and Internet services do not accept altcoin for payment. It's too early for this. What problems can be occurred to adopt it?
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
What problems can be occurred to adopt it?
Everything is possible in crypto because all of coins are currency and when you call currency that means money,but the problem is the adaptation of the whole world for this altcoins act as what they are designed for,if only the world will accept the technology together with the services and products they represents maybe this question of you is happening sooner
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
What problems can be occurred to adopt it?
Well adopting this kind of system in paying the wages, might face some problems. One of these problems is that the wages might change as time goes by. It can be either negative or positive. Yet the management of the wage depends on the holder or the worker. He can control whether he will withdraw it with the small price or wait a little longer yet his wage will wait as well. Another one is that, some altcoin might disappear, and adopting this kind of system will also make the wages disappear.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
We can effectively adopt altcoins to pay salary because of the decentralization nature of altcoins. The Ethereum ERC20 smart contract virtual machine could be a powerful means of salary and wages payment method to adopt. What problems can be occurred to adopt it?
This argument has been ask a lot of times in this forum. And as I have told them countless of time, it is possible not only possible but it is already happening but we don't seem to feel it because not all people can adopt it. The main reason is that altcoins are too risky. And its value is too inconsistent. Unless a coin hold its value over a year then it would less likely possible to be adopt by most employers.
Yes, we can adopt the alternative coin to used as a payment for wages in their employees
because they give a chance each of them to have a better life and serve a great deal in future needs.
This is possible but if you accept this form of payment, the risk is huge because we can not predict the value of Bitcoin. For me should only accept Bitcoin payments for overseas workers because it is the easiest form of payment without spending too much time on a transaction. I believe that this form can change the lives of many people because of the high inflation of the currency because they give a chance each of them to have a better life and serve a great deal in future needs.
the majority of people have a fixed job more than anything else for stability, so that you could pay wages with altcoins, It has to be a very stable one and I don't think that this will happen in the near future, maybe in about 5 years, when the regularizations are put in place and the market stops being so volatile the companies can offer this means of payment.
I think the course is slightly to stabilize before starting such innovations. And then just hang accounting making adjustments.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
What problems can be occurred to adopt it?
Yes , we can effectively pay salary and waves with altcoins using the Ethereum smart contract ERC20 blockchain technology. The Ethereum virtual machine(EVM) will be able to generate the various contracted salaries and wages and make payment to the programmed beneficiary. If adopted it's going to be an effective and decentralized approach to salary and wages payment globally.
I think for now it will be complicated to do. Not a complicated system but a way of calculating the amount of salary itself, because the standard of salary is certainly measured by many factors including inflation.
Yes, we can adopt the alternative coin to used as a payment for wages in their employees
because they give a chance each of them to have a better life and serve a great deal in future needs.
because they give a chance each of them to have a better life and serve a great deal in future needs.
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