Crypto as job salary - Yay or Nay? - page 5.

lalabotax

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Honestly, it's actually not a big problem. However, in countries where crypto still cannot be used as a means of payment, it may be more tricky and difficult to implement. For example, we as salary recipients will also immediately convert all or part of the crypto to fiat. Because it's impossible if we don't convert it, we need money for the family's daily needs and also several other things. Therefore, this method may not be effective enough to be used here. So, for now, the most appropriate job salary for the situation and conditions here is still fiat.

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Quote from: decodx on May 15, 2024, 04:02:01 PM

This is an interesting offer that tempts my sense of adventure while also calling for some practical caution. I mean, getting paid in crypto does seem exciting - like my salary has the potential to grow if the coins take off! That feels promising. But the volatility scares my risk-averse side a bit too.

I'd have to think hard about my financial standing before jumping on this crypto compensation train. If the crypto offered is a pretty solid one like Bitcoin though, and if I've been good about building a regular cash safety net in my bank account, I might just say what the heck and go for it and a little short-term instability seems worth it for the chance to ride a cryptocurrency wave upward.

By the way, if you don't want to worry about volatility issue for long, you can always convert your crypto to fiat. It is easy now to trade so long the coin is included in the top alts, because mostly they have very good liquidity. So for me, it is not a problem anymore if the company is issuing crypto as a salary, because you have options now to hold or convert it to your fiat.

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This is an interesting offer that tempts my sense of adventure while also calling for some practical caution. I mean, getting paid in crypto does seem exciting - like my salary has the potential to grow if the coins take off! That feels promising. But the volatility scares my risk-averse side a bit too.

I'd have to think hard about my financial standing before jumping on this crypto compensation train. If the crypto offered is a pretty solid one like Bitcoin though, and if I've been good about building a regular cash safety net in my bank account, I might just say what the heck and go for it and a little short-term instability seems worth it for the chance to ride a cryptocurrency wave upward.

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Quote from: Jawhead999 on May 14, 2024, 08:31:01 AM

It depends on how many marketplace or business that accept Bitcoin as alternative payment.

If most of businesses accept Bitcoin, I would choose to receive 100 in Bitcoin (30% in Lightning Network and 70% in on chain), so I only use 30% for my monthly needs.

If most of businesses didn't accept Bitcoin, it would be 30% in fiat and 70% in Bitcoin.

The good thing to receive salary in Bitcoin is helping people to automatically DCA-ing Bitcoin every month without need to spend time to buy it.

However, the sad reality is that I don’t think bitcoin is accepted here in the city where I lived, as the government still very much focused on fiat and banks, and discouraged everyone to get involved with crypto especially bitcoin. With this, I know I have to receive my salary in fiat, and just secretly continue buying bitcoin until I earned good amount, without no intentions to spend them but will continue to grow them and triple their amount. I guess for now, I will always stick to my goal most especially that bitcoin isn’t very welcome here in my area.

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In this case, I think it depends on what the business does and how the system of salary and of course how it operates.
That is indeed a good way to talk about how we apply bitcoin as a form of what we do in business at least with a salary given in bitcoin then I think at least this can increase someone's interest in staying in bitcoin at least making it a futures deposit or maybe even a DCA every month.

It's just that this also needs to be thought of because however bitcoin is still quite volatile especially with the situation of transaction costs that are sometimes unpredictable making this a little more troublesome unless there is an MOU about how much salary will be given because it needs to be realized that when making payments through bitcoin it will not be possible every week to be the same so sometimes this seems not too fair because it could be detrimental or even beneficial.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Hmm, first of all, both of them are completely different things how can we compare water with fire, they don't have any similar attributes, bro, on what basis we can compare and devise an efficient answer for it, salary is a stable income generated against any kind of service, on the same time in crypto you can be a service provider, trader, investor anything you like according to taste and skills. if you want to compare the crypto market returns on investment & trading vs salary in fiat for any service it requires some input data like what are you getting in fiat then what can you investment in the market and on that investment the speculation of the profits can be provided.

It can be higher or lower completely depending on the investment, market momentum, and one's skills, and some other factors as well.

Ojima-ojo

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Since I can have my bitcoin changed to fiat when I want to pay for goods and services, I am ok with receiving bitcoin as salary, because for sure bitcoin as salary helps to stop alot of unfavourable outcomes such as over spending, because with bitcoin you have to go through a process before converting the bitcoin to fiat, so it won't be easy to just spend up it money just like that.

Unlike receiving fiat as salary, which gives your express access to the money and increase your chances of spending up all the entire money without saving any part .

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Quote from: Zigabel on May 15, 2024, 09:44:03 AM

Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

I would actually prefer to be paid in Bitcoin buy it should be done with DCA because I don't think just paying in Bitcoin will equaling the kind of value I mey be doing at my job so with a proper DCA terms I can be sure my pay always equates what I should be getting if I'm been paid in Fiat and I will be able to afford all thst I can afford after I must have converted to fiat, the advantage of payment in Bitcoin has to be in the fact that Bitcoin has got some form of volatility that could at some point be ro my advantage if in the bull market, it's possible I get paid today and by tomorrow I'm earning more than I was paid because there has been an increase in the price of Bitcoin.

With fiat you don't really get to enjoy the advantage that comes with the volatility in Bitcoin a d other cryptocurrency at some point because you are getting paid in Fiat who's price is regulated and isn't having volatility to cause any form of surge for it's value.

Why don't you think of the opposite scenario where you just received a payment in bitcoin, and Fud hits the market, bitcoin drops more than 15-20% and worse is the black swan attack, bitcoin will fall in price more than a few days later? Don't just think about the dream scenario that bitcoin will only increase and you will earn more money through receiving salary in bitcoin. Meanwhile, if I receive my salary in fiat, I will be more proactive in investing in bitcoin because sometimes when the market gets worse and bitcoin corrects, I will have the opportunity to own more bitcoin with that fiat.
Receiving salary in bitcoin or fiat both has advantages and disadvantages, and the choice will depend on each person's preferences.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

I would actually prefer to be paid in Bitcoin buy it should be done with DCA because I don't think just paying in Bitcoin will equaling the kind of value I mey be doing at my job so with a proper DCA terms I can be sure my pay always equates what I should be getting if I'm been paid in Fiat and I will be able to afford all thst I can afford after I must have converted to fiat, the advantage of payment in Bitcoin has to be in the fact that Bitcoin has got some form of volatility that could at some point be ro my advantage if in the bull market, it's possible I get paid today and by tomorrow I'm earning more than I was paid because there has been an increase in the price of Bitcoin.

With fiat you don't really get to enjoy the advantage that comes with the volatility in Bitcoin a d other cryptocurrency at some point because you are getting paid in Fiat who's price is regulated and isn't having volatility to cause any form of surge for it's value.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat?

If I'm been given option, I'm sure everybody will want to be paid in Bitcoin due to it's volatile nature likely to either increase or decrease in value over time, than altcoins of which most likely to be scam project looking for potential victims. Because definitely a time is coming when those working in tech and Blockchain related fields will be fully paid in Bitcoin, which happens to be the currency they represent, than fiat. That is, if only it's not already been implemented. As the fee future of Bitcoin is bright and promising.

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If you'd prefer crypto payment, which currency would you choose and why?

Definitely, it's Bitcoin I will like to be paid salary and not altcoins, but if I'm being given two chances, then I will choose Bitcoin and a stable coin such as USDT, because apart from those two, I think it will be better to choose fiat than any altcoins.

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Quote from: Helena Yu on May 15, 2024, 07:36:31 AM

There's no difference if you get paid through Bitcoin or fiat, actually it would harm your privacy since many people now know if you get paid in Bitcoin. Do you want your colleagues to ask a loan from you? especially when Bitcoin price increases. If you get paid in fiat, you can directly buy Bitcoin, in the end your salary turns become Bitcoin.

So it's a nay for me since I care with my privacy.

In my opinion, whether we receive salary in bitcoin or fiat , there is not much difference . Because even if we get it in bitcoin, they will still base it on the value of the BTC/USDT pair at the time they pay us, so it's not a huge difference .

If you are afraid of privacy, it means you do not support bitcoin becoming a currency and being widely used globally . If everyone did not want others to know that they owned bitcoin, then bitcoin would never be used as a means of payment or become popular. That's what I've been wondering for a long time, how to help bitcoin become popular when we want to keep it private and don't want anyone to know we have bitcoins, nor do we want to use them for payment?

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Paying in bitcoin would be very nice, but that the challenge is that most of my expenses are paid in fiat and converting from bitcoin to fiat would amount to loss in the form of transaction fees. However, if the company would agree to pay part in fiat, so I can use that to cover my day to day expenses while the other part be paid in bitcoin.

GideonGono

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It would be great, but we still need Fiat in order to pay up since we couldn't pay everything with crypto right now.
If they would offer me such thing maybe I would ask if they could be paid half in crypto and half in Fiat, so that I could save up from paying fee on converting crypto to fiat vice versa.

Helena Yu

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There's no difference if you get paid through Bitcoin or fiat, actually it would harm your privacy since many people now know if you get paid in Bitcoin. Do you want your colleagues to ask a loan from you? especially when Bitcoin price increases. If you get paid in fiat, you can directly buy Bitcoin, in the end your salary turns become Bitcoin.

So it's a nay for me since I care with my privacy.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Maybe if I'm an example employee and I'm asked to pay me bitcoin as a salary, I'll probably only agree if it's 50/50, for at least I have my daily expenses in the budget when I enter the company. I will consider the Bitcoin that will be paid to me as savings for the future.

This is just my opinion; I don't know about others who are with me in the crypto community we live in. But probably the majority of those who are different here will still agree to pay them in fiat as a salary.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

As far as I am concerned, if bitcoin is used as a payment method the popularity of bitcoin will increase with the increase in the value of crypto many people will prefer crypto but it will depend on the legitimacy of crypto and the people of that country. There are many people who don't know the use of crypto they prefer fiat because they use cash.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Acceptance of Bitcoin as a salary will depend mainly on the acceptance of Bitcoin in that country and the acceptance of Bitcoin among the people. No matter how popular Bitcoin is in a country, if the people of that country do not want to accept Bitcoin as a salary, then Bitcoin will not be easily adopted in that country. But in my case if asked to take salary as Bitcoin payment then I must take salary 80% in fiat currency and rest 20% I will take through Bitcoin and I will keep it as life time holding for future.

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I think I already saw such a thing a few years ago and surely those guys already multiplied their bitcoins a lot since they invested at a lower price like less than $10k when the price of bitcoin was struggling to cross 10k before. now that we are heading into possible bull runs if they didn't convert their bitcoins to fiat until now, surely they will become a millionaire in a short period of time. right now, companies that are solely supporting bitcoins should give their employees options to choose whether to get their salary on bitcoins in total amount or just some of it in order to promote and contribute to making bitcoins more popular.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

With Bitcoin am good to go yeah I don't mind receiving my salary in Bitcoin because it is Bitcoin and not any other coins such that even if the value shrinks within a small time it has been consistently proven to be rising up when it value comes down, yes am ok am very much receiving my salary in Bitcoin and convert the quantity that I want to makes use of in my local currency.

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Quote from: Muchiratsky on May 14, 2024, 08:07:33 AM

Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?

This would be your hard-earned money that can either grow on its own or shrink in value within a small time.

Accepting crypto for salary will be a great thing that I will love as it will make it easy for me to do my DCA in bitcoin. As salary is paid, my jobs is just to sell the part I will use for my basic needs and emergency fund which I will still love to keep in fiat, the rest will then be left in bitcoin. If there is option of accepting some of the payments in Bitcoin and some in fiat, I will go with this option and save myself the stress of converting to fiat.

I think payment of salary in cryptocurrency is only possible in countries where bitcoin is a legal tender such as El Salvador. I do not know if such options are already being explored by companies on such countries.

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