Topic: Can we adopt altcoin to pay wages? - page 8. (Read 1700 times)
Altcoin, the rise and fall is rampant, users might gain a lot in the little work that they do, example, When the price of the token rise at a greater percentage, LOL that will be a massive profit earned. What if the price falls drastically at the end of payment. I am not sure this is a good idea. But in the future, measures can be put in place to make it 100% successful.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
We have a problem to adopt altcoins for wages. Example, if the person have wages for 1000$ per month and you will gave his wages into eth equally to 1000$. The problem is when he cash it out, theres a percentage taken from his capital. So his wages will deducted for that conversion or selling service fee. That wasn't applicable for wages.What problems can be occurred to adopt it?
This is a two sided coin. You're looking at it in one perception. What if after the wages has been paid in ETH and there's rise in the price of ETH, don't you think he will have more than $1000? What I understand is that if wages are being paid in ETH you can't get the exact value of what you worked for. It's either you are over paid or under paid.
Curentlly its not a good option, first because crypto is so volitile, and second because its still not user friendly, you and your friends might know how to use it but what about 50yr old average Joe whos not good with computers. It is possible in the future for sure, but we are not yet there
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?
I don't think that this is good idea. The altcoins are way too violate and this would be big problem when talking about wages, because they have to be steady.
I think that would be perfect. IMO a stablecoin is the perfect solution for all of this. At the end of the day we all hate price volatility especially if you're getting paid for a living. I'm a big fan of Havven and their stablecoin.
You should look into them. Great project, team, and development.
https://www.newsbtc.com/2018/03/05/havven-decentralized-stable-coin-ico-successfully-closed-raises-usd-30-million/
You should look into them. Great project, team, and development.
https://www.newsbtc.com/2018/03/05/havven-decentralized-stable-coin-ico-successfully-closed-raises-usd-30-million/
I don't think so that most employees would agree with in getting their salaries in form of altcoin, as there are thousands of altcoins some are useless, not worth. Secondly, the altcoin price is highly volatile if the market is in blood then people won't be happy on this and can't wait for the market to recover and no one knows how much time it can take for the market to get stable. Another issue is cashing out altcoin first search for the exchange on which altcoin is listed, create an account, exchange it for Ether or Bitcoin then transferring to another exchange convert in fiat & withdraw to bank account which might take up to 1 week and this might be a headache for a layman to go through cashout process.
It could have been. However, it will not be applied to everyone. not everyone likes altcoin because maybe they didn't know or didn't even know about its potential. they know altcoin is at high risk due to fluctuations. Maybe that is the problem for them because if there are fluctuations mean their salaries have a value which does not remain if realized by real currency.
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?
At the moment, getting paid in altcoins is very risky. Cryptocurrencies have a fairly high level of volatility, for this reason, the change in their value is quite difficult to predict. Problems with taxation, you should take into account the fact that the procedure for taxation of cryptocurrencies is not currently defined. It is important to remember that there are no legislative acts protecting the rights of holders of cryptocurrency.
Of course it is possible 
But not everyone will like the high volatility and transaction speed
But not everyone will like the high volatility and transaction speed
No we can't pay salaries in altcoins. They dont provide stability, security and other important factors needed to do that.
I think this method of payment will suit freelancers! Less red tape and bureaucracy! Officially I think it will not work out.
At the moment I only see cryptocurrency working as mean of payments for wages in freelance jobs, mainly because they are likely to be one off payments. For recurring wages though it's a risk to receive your pay in crypto due to the fluctuations, plus you'd have to make sure you're paying all your taxes and if you're on the UK, national insurance too.
If we reach a stage where most places accept crypto as payment it may be more viable as you'd be able to spend it, rather then cashing it out for your currency as you would do right now. Maybe in a few years as cryptocurrency continues to evolve and adoption gets pushed further it may be useful.
If we reach a stage where most places accept crypto as payment it may be more viable as you'd be able to spend it, rather then cashing it out for your currency as you would do right now. Maybe in a few years as cryptocurrency continues to evolve and adoption gets pushed further it may be useful.
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?
It can be done but may be limited to certain communities or companies. Not everyone is willing to bear the fluctuations of altcoin and I think not many real sectors accept altcoin for the payment of goods or services.
I think the problem is that almost all goods and services are rewarded with fiat money. I think not everyone is willing to accept salary with crypto.
I do not think that this was possible because the price of the altcoin may changes time to time and some of them dont want to change the price of it but stable unlike with real money it is much more stable
Yes, I think it is possible to adopt altcoins to pay wages. Take a look at the bounty campaign, it's like working and getting a salary with altcoins, but the problem is that you do not know how much you will get for your job since altcoins are not stable.
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.
I think the main problem is with what you pay your wages. If all agree with a certain altcoin and a certain amount I think it will be very easy to realize.
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
It can be implemented if there are already regulations and if cryptocurrency reach an 80% rate adoption. Cryptocurrency at that time will be stable because it is now widely use and it is hard to manipulate because the supply is already scattered all over the world. What problems can be occurred to adopt it?
You can just get the subcoin in to make the investment not to pay the fee. You can get in pay the fee. In the crypto money world you can do what you want infinitely. Be careful not to lose money while doing these things.
Jump to: