The problem is that you can't pay for many items in crypto yet. If not, then for sure. I'd love to get paid in LTC or ETH!
Yes the problem is, there are only few coins which are being accepted widely. 
Topic: Can we adopt altcoin to pay wages? - page 9. (Read 1749 times)
Can we pay salaries and wages in shape of altcoins?
What problems can be occurred to adopt it?
Of course, there are no problems in this, it is only necessary that the government recognize a certain cryptocurrency as the legal tender in the country and adopt a number of regulatory laws. There are already a lot of polls conducted by journalists and just enthusiasts and the results of these polls show that more and more people are ready to accept cryptocurrency as a salary for work and use it as a means of payment when making a payment. Already now you can pay for some purchases on the Internet with the help of a cryptocurrency, pay for services or replenish a mobile phone account. Even a year ago, many could not have imagined this, but now it is quite normal. What problems can be occurred to adopt it?
The problem is that you can't pay for many items in crypto yet. If not, then for sure. I'd love to get paid in LTC or ETH!
Every person pay income taxes. But how can a person declare crypto earnings? From the point of view of any country’s government it is money from nowhere.
It would be very tricky and perhaps somewhat unfair to people who do not want to join the crypto world.
I guess I would never agree to get my wages in altcoins, as long as I'm not able to pay with alts for services and goods I use in everyday life. I prefer money, as it is more stable and also it is accepted everywhere.
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?
for now, i think it is not suitable for pay wages because the price is unstable.
imagine that when you received your wages, bitcoin price is usd 8k. A few days later when you want to buy something,
you sell your coin to usd, but its price already down to usd 6k. too volatile.
Right now large companies would attempt to use cryptocurrency at these kind of utilization, because of the less risk they could get involved with it. If coins would be much more "stable" not just in price but also in the network then people could start moving forward on using this now as a wage or salary. However we also need first to fulfill its purpose of being a money first, before it could reach up in companies one by one.
I don’t think that most of people would agree on that, plus you need to be educated to handle it.
As we all know how volatile the market is, and we don't want to risk our everyday effort on it, unless we will be paid in bitcoin with a fixed amount depending on our fiat. Then the decision of investing it or cashing it out will depend on the employee.
Well, theoretically, why not. It's just that it will not be very stable. When altcoins will grow the salary will be very high and vice versa at the low drop
For sure it can be done. And Japan is already doing it. The thing is the world is trying to figure it out how and what to regulate right now. Because crypto is a volatile market, the people's salaries cannot be. People need certainty, like the certainty that they will be able to buy food with their last month's wage. At the moment it can be done, at least partially.
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There is the KStarCoin which is from Korea.
They already have 8million users! Feel like it’s legit.
They say they are gonna crowdfund to hold K-pop concerts all over the world.
I saw their white paper.I think they have clear vision for themselves.
It was easy for me to make coins from there. You can just join the chat room
until the pre-sale is over and that’s it.
Another way was signing up for the website and share it on SNS.
If your friends join, you gain more. The more the better, guys!! I already got some.
Good luck guys!
- Air Drop : https://t.me/joinchat/GeOUSUZPyVpuOHvUMHmKkQ ◀
- KStarCoin personal downtimes : http://k-co.in/uYDImJcT ◀
I don’t think that most of people would agree on that, plus you need to be educated to handle it.
This is inexpedient, since the price of altcoins constantly jumps and it is not stable. I think people will not be happy if each month they receive a different number of coins.
I agree with your point. Everyone wants a stable salary. They do not want their wages to be based on the Crypto market. In addition, employees are not involved in the Crypto market. So the transfer of their salary by coin is a very complicated thing. The process of remittance is very long and takes quite a bit of money.
So it is not appropriate if altcoin is made at nominal wages, money must be clean in that amount, usually coins can be called for investment so it is more suitable to invest when done as wage payments that are likely to fall or rise after received by the person no matter if the price rises if the price goes down it will be your inconvenience as CEO there will be complaints everyone, for me it is not right because the wage payment is very risky to go down and may be confused plus cutting each transfer, and will cost a lot.
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?
Following problems can occur:
1) All people would not accept getting paid in crypto because of price fluctuation.
2) There can be legal issues also as all countries do not allow this as per wage laws.
It would be very tricky and perhaps somewhat unfair to people who do not want to join the crypto world.
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?
Interesting proposition.What problems can be occurred to adopt it?
However to do this alcoins must be legalized by any number of governments.
Also altcoin for this issue should has stable market and should be converted in cash at any time.
This is inexpedient, since the price of altcoins constantly jumps and it is not stable. I think people will not be happy if each month they receive a different number of coins.
In addition to the issues mentioned; employee acceptance, value fluctuation, etc... I think the biggest challenge would be meeting the legal requirements of many countries such as minimum wage, deductions for retirement and healthcare, and taxation.
A combination of wages/salary in fiat and bonuses in crypto may be the best option for business wanting to go that direction. That would taxation models etc. based on the allocation of stock options and other benefits.
A combination of wages/salary in fiat and bonuses in crypto may be the best option for business wanting to go that direction. That would taxation models etc. based on the allocation of stock options and other benefits.
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