Domino's franchise offering salary to employees in bitcoin!! - page 2.

SFR10

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Quote from: worle1bm on May 24, 2021, 10:40:09 AM

It is cool to see such things happening with Bitcoin and it's acceptance increasing but the main point is that if they hold it as investment for long term they can have huge profits but what if they want to make transaction and buy stuff with it and higher transaction fees became issue for them as workers might not want to pay higher amount in fees only with small amount of Bitcoins.

Your opinons on this?

Since they're going to have the option to receive their excess salaries in BTCitcoin, then it's safe to say that those who opt for it, probably have the basic knowledge when it comes to how BTCitcoin transactions work in general or rather how they should deal with different mempool scenarios.
^{- Long-term hodlers would probably face more problems than those that spend it right away.}

yazher

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Quote from: Twentyonepaylots on May 24, 2021, 04:46:17 PM

Adoption is slowly coming into reality as days pass by. We can expect more and more establishments and companies to implement a similar feature for paying their employees in the following months, or years given time. But then again this is but the first step towards global adoption, and we would need more of these in the future if we want bitcoin to be accessible and accepted by the general public.

Adoption like this one has been going on for years now and let's hope that they won't gonna change their mind and stop this one of the biggest contributions to the bitcoin revolution. One of the good things is, there are lots of companies are offering such thing compared to the recent years. maybe because the big companies keep making their own contribution to implement bitcoin on their platform and at the same time they will take advantage to earn from this new innovative way of payment.

famososMuertos

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Well, if there is an opening...but a little less than what the adoption really means, I think you can not generalize in the sense of what the adoption really means, but we must always be positive and Yes!! the acceptance or noise made by Bitcoin has better "quality" today but taking that analogue in the thoughts, we did not even come to Stereo sound, we are still on frequency monophonic, is reality.

But at least we still sound after so many years. Although the salary is not the best alternative to make that transition in which the bitcoin is an alternative of money, but if the one who implements it makes it clear its volatility and who accepts the condition understands it, it is undoubtedly an alternative.

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Quote from: Tumanggor on May 24, 2021, 05:15:09 PM

Quote from: worle1bm on May 24, 2021, 10:40:09 AM

~

these employees should be grateful for the choices their superiors have given them
I really hope the company where I work gives me the opportunity to choose salary payments to be paid in Bitcoin or fiat

rarely does a company provide its employees with this kind of good opportunity
providing salary options with Bitcoin provides an opportunity for employees to save indirectly for their future

Not to be that much in a positive emotion but nothing is assured when it comes to future because we dont know on what future brings and what would happen to bitcoin but having these kind of option on where you can possibly get some bitcoins directly into your salary then its really an opportunity for someone to deal up with it and its really good to see these kind of recognition on some merchants or companies
whom do consider on giving out these integrations which will give out some options for its employees to choose on.Hopefully this thing will really be spread out globally
on where companies will be giving out this kind of option whether you do accept fiat or bitcoin into your own salary.

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Nice sentiment, but sounds like a bloody nightmare to manage

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Quote from: worle1bm on May 24, 2021, 10:40:09 AM

~

these employees should be grateful for the choices their superiors have given them
I really hope the company where I work gives me the opportunity to choose salary payments to be paid in Bitcoin or fiat

rarely does a company provide its employees with this kind of good opportunity
providing salary options with Bitcoin provides an opportunity for employees to save indirectly for their future

Twentyonepaylots

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Adoption is slowly coming into reality as days pass by. We can expect more and more establishments and companies to implement a similar feature for paying their employees in the following months, or years given time. But then again this is but the first step towards global adoption, and we would need more of these in the future if we want bitcoin to be accessible and accepted by the general public.

acener

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I think it is great that they are doing it for their employees who are into cryptocurrency.
If I would ever have a 9:5 job I also want my salary to be paid with crypto or at least half of it so I wouldn't need to pay for the transaction fee of converting it into Fiat.

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Quote from: PeRo on May 24, 2021, 12:18:25 PM

I love seeing good news like this considering how much more adopted is Bitcoin getting and it is good that more and more employers are offering Bitcoin as payments. But I could only see young people choosing this over conventional type of payment - if they don't depend on the money made and want to invest in Bitcoin. Older people or employees who make a living and depend on that salary surely wont take Bitcoin since you can't use it everywhere and the price is volatile and if you cash out there is no point getting payment in BTC. Nevertheless, not a bad concept and it's good for making it easier to invest for people who want to.

This is why the employer will only convert the extra income, if you go beyond their minimum wage. They are not totally converting their salary to bitcoin as they gave a condition before converting your income to btc. I believe, that's fair enough. If you are earning more than your basic needs, you have the chance to acquire btc, but you need to accept the risks involved. Hope to see more of this kind of initiative from other popular companies. This will further drive adoption in the crypto community.

PeRo

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I love seeing good news like this considering how much more adopted is Bitcoin getting and it is good that more and more employers are offering Bitcoin as payments. But I could only see young people choosing this over conventional type of payment - if they don't depend on the money made and want to invest in Bitcoin. Older people or employees who make a living and depend on that salary surely wont take Bitcoin since you can't use it everywhere and the price is volatile and if you cash out there is no point getting payment in BTC. Nevertheless, not a bad concept and it's good for making it easier to invest for people who want to.

ShowOff

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Surely this is something the bitcoin community around the world want because the increased adoption is a sign that bitcoin has become accepted in many circle. Maybe the problem later will be the transaction fee, because basically bitcoin transaction fee can increase at any time if the network is too congested.

Maybe transaction fee are not a problem for them as a large company, but in practice many middle and lower class people are still reluctant to adopt bitcoin as a mean of payment.

worle1bm

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Quote from: DannyHamilton on May 24, 2021, 10:55:35 AM

I believe what you are trying to say is that only employees that are paid more than minimum wage can participate in the program, and that only the portion of their wage that is in excess of the minimum wage can be converted to Bitcoin through this program.

Yes this was the statement by the franchise official that only portion of the salary of workers which exceeds the minimum payout of the Netherlands can avail this benefit and convert it to bitcoin.But at current this is only for Domino's worker who are working under their subsidiaries.The salaries of workers differ like Manager and pizza maker have salary deviation but whatever is exceeding minimum wage rate can be converted to bitcoin.

This is revised pay scale for Netherlands I found on Google:

But it sounds interesting that they can convert extra income to bitcoin to generate extra huge profits for them in the long run if they hold it.

xonar2

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I would work a *secondary* job for bitcoin as a way to accumulate more BTC.

As long as electricity companies and supermarkets don't take BTC I can't pay my major bills with it, so a primary job still has to generate fiat currency like euros or US dollars.

Bitcoin can destroy fiat currency if more and more mainstream establishments like electricity companies start accepting BTC.
Then people might seriously consider taking their paycheck in BTC.

Vaskiy

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The real-time usage of bitcoin on different needs keeps increasing with time. The chain of network accepting bitcoin into the business is really a big milestone. Earlier we've seen more number of chain of franchises accepting bitcoin and paying in terms of bitcoin. These networks didn't make the payment gateway more popular, because they didn't get the expected users. Hope this serves as a base and a change.

DannyHamilton

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Quote from: worle1bm on May 24, 2021, 10:40:09 AM

But there is catch in this salary payout that the employees who are getting paid more than average payout of country can convert their extra income into Bitcoin.

I believe what you are trying to say is that only employees that are paid more than minimum wage can participate in the program, and that only the portion of their wage that is in excess of the minimum wage can be converted to Bitcoin through this program.

For someone who works, for example, 9 hours per week, they will be able to put perhaps €5 per month into bitcoin. On average, people would be able to put maybe €5 to €250 in bitcoin from their salaries.

avikz

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It's good to see the positively around bitcoin in this turbulent time. I doubt if anyone would actually go ahead and accept this offer though unless he/she has a super risk taking appetite. Salary is something, that takes care of your bills and regular expenses. Gambling with salary might land people in troubled waters.

But what impactful is that the willingness of the company here. No matter how many employees would like to gamble but the opportunity matters.

worle1bm

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The Bitcoin demand and popularity is rising these days and we came across many institutions and government who are having positive approach on Bitcoin acceptance and it is becoming mainstream and mode of payment these days.

Just recently a renowned restaurant brand Domino's franchise Immensus Holdings has announced that it's employees can get paid in bitcoin in Netherlands.But there is catch in this salary payout that the employees who are getting paid more than average payout of country can convert their extra income into Bitcoin.

Quote

"We are a modern company, and we work with a lot of young employees," Immensus co-ownerJonathan Gurevich said. "We hear them talking about Bitcoin and we want to offer the opportunity to own cryptocurrency."

They have more than 16 branches and more than 1000 employees working with them who can avail this offer and it was announced on Bitcoin Pizza Day.

It is cool to see such things happening with Bitcoin and it's acceptance increasing but the main point is that if they hold it as investment for long term they can have huge profits but what if they want to make transaction and buy stuff with it and higher transaction fees became issue for them as workers might not want to pay higher amount in fees only with small amount of Bitcoins.

Your opinons on this?

Topic: Domino's franchise offering salary to employees in bitcoin!! - page 2. (Read 295 times)