Topic: Does anyone here get paid in Bitcoin? (Read 2158 times)

We have a team of 6 involved with BetMoose, 4 part time and 2 semi-full time who are all paid in bitcoin with the option of auto-conversion it to fiat, only one person takes half and half.

We are dedicated to the cause

Sure, that is just one of the great benefits of Bitcoin, there are a lot of job oportunities: development, translating; and the fact that Bitcoin

transactions are quick and very easy, you can obtain your payments easily and secure.

Maybe those who are bitcoin traders)

I think the OP is asking about a "day job" type payment, like a salary.

I know that blockchain.info's employees get paid in bitcoin.

Bitcoin will severely complicate your taxes. My understanding is that when you are paid in bitcoin you should treat it as if you were paid in the fiat equivalent at the time, then when you sell bitcoin (either for fiat or goods/services) you treat any gain/loss from the time you received your BTC as a capital gains (gain or loss).

only with signature campaign. my normal day time job is still fiat 

I am from the US and NOT a tax or legal expert.  However, if I wanted to keep my nose 100% clean this is how I would handle it.  You should obviously consult an expert.

In the US we have a payroll tax also imposed as a self employment tax as well as an income tax, you want to pay both of them to avoid any trouble.

On the day that I was PAID, I would get the price of BTC, e.g. if I was paid 1 btc, and it's price on a leading exchange was 650 USD, that would be the pay I would report for payroll purposes, i.e. in this case self employment taxes (just under 16%).  I would also report this as income, even though it is still in btc form.

I would then record that price as my basis for the BTC I had.

Then when I actually SOLD the BTC, even if it was the same day, I would record a capital gain or loss on the BTC versus what I listed its value earlier, in this case 650 USD.  Say the price went up to 655 that day before I sold, I'd now have a capital gain of 5 USD to report on my taxes as well.

So to recap,

1. Payroll tax on value of btc when paid (in this example 650 USD)
2. Ordinary income tax on value of btc in USD when paid (in this example 650 USD)
3. Capital gains income tax on net gain or loss when converted to USD (in this example 5 USD)

Unfortunately, in the US at least, the current tax laws really fucked bitcoin as a medium of exchange.

Good Luck!

I have plans for a website business where I'd only accept bitcoins.  So if I end up creating that business, I will end up being paid in bitcoins.  I think e-commerce is the major advantage for bitcoins: the security issue is much easier for website operators with bitcoins than it is with credit cards.  With bitcoins, you need to worry about losing the money yourself, of course, so have it in cold storage, but you at least don't have to worry about losing other people's credit card numbers, which happens frequently with traditional businesses.

Granted, this advantage really only goes to the businesses.  As a consumer, I'd much rather have to deal with a credit card getting stolen than bitcoins I spent getting stolen and products never being delivered, or investments falling through.  In this sense, I think we really need a bitcoin equivalent to the Better Business Bureau (or something like that) where people can report businesses that behave well or badly.

Getting paid in BTC for full-time work would be pretty nice. 

For signature campaign job, yes.
For my real job or anything else, no.


Signature advertising.

I didn't yet. But I'd like it so hard! What kind of work can be paid by BTC?

tried selling some things for btc.. if you don't sell your coin then you won't have any tax burden to deal with :-)

Get payed in cash but turn that into BTC every week or so. I'm not going to say whether I get paid for other things in crypto or not. 

I have sold some stuff through this forum in BTC, but have never been paid for work in BTC (or any other crypto)

most of the payed workers get paid for design and internet..

Definitely would like to live here 

I have been paid in Bitcoin for yardwork.. No joke

get paid in BTC from signature campaign
and from blog design

Yes, I work in the website design field, and I have been payed in Bitcoin twice.

I used to earn a decent amount of BTC a month for moderating a site, and still make income from signature adspace and some other things. I cash some out, keep some. Can't really disclose what I do with taxes.

Same here, earning a steady amount from my signature.

My normal job covers my expenses. Till now I have not declared any Bitcoin, I am not sure how to proceed or even if it is needed.