Topic: Employees in Canada Opting For Salaries In Bitcoin (Read 4959 times)
This is really good news, next they need to learn how to secure the wallet before they lost their salaries....
Any bitcoin that are paid to employees will ultimately need to be purchased on an exchange (likely from customers who paid in bitcoin to the company) so there would be a net effect of buying pressure on the bitcoin market
The actual use of BTC is good for the value.
News like this make people believe in bitcoin future. It's necessary for people to understand the actual benefit of bitcoin or cryptocurrency concept and those who understand have already started looking for accepting payment/salaries in bitcoins.
Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.
And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).
If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.
Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.
Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.
I think this is a good choice for workers in Canada, because it is now a rising bitcoin prices rise, the price of the exchange rose make per capita opinion of workers in Canada will increase, then welfare will increase, but the be a problem if the infrastructure in Canada has been good for bitcoin transaction? bitcoin transactions desperately need a stable internet connection, and of course a stable internet require an electrical power source is good, that which has a back up in case of power outages in the country ... 
[quote author=panju1 link=topic=768460.msg9224711#msg9224711 date=1413478032
Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.
[/quote]
Circulation of BTC supports its value.
Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.
[/quote]
Circulation of BTC supports its value.
Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.
And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).
If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.
Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.
Even if they spend their bitcoins (and assuming the merchants don't convert it to fiat immediately), if would be good for the bitcoin economy. As long as those bitcoins don't land up in exchanges, the price will be supported.
Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.
And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).
If the merchants accepting bitcoin would pay their employees in bitcoins (in full, or partially) that would reduce the dumping to some degree. I think that's what he meant.
Sure, the employees could convert to fiat on the same day, but it's more likely some of them would decide to hold, especially if they opted to be paid in bitcoins voluntarily.
Still a bloody long way to go before a meaningful no: of non tech folks will be okay getting part of their salary in btc
Incredible merchant adoption and mainstreaming required for that
Incredible merchant adoption and mainstreaming required for that
Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.
And what can you do to prevent that from happening? You can either prohibit it (stupid) or give merchants incentives to keep their Bitcoins instead of dumping their for their local fiat (so far not very productive unless you want simply to hold and speculate with the price).
Anything preventing merchants from directly dumping their bitcoin for fiat sounds good for bitcoin in the long run. We need more merchants to reuse bitcoins rather than dump for fiat.
Ive said it before, Canada (Toronto) will be the center of Bitcoin.
Bitcoin is decentralized.
What will be will be regional center of knowledgement. Probably North American. Such centers will and already are popping up allover the globe.
Paying salary with BTC is extremely good news to BTC.
Bad news to the people who are not using BTC..
They can continue using fiat.
Of course. Receiving in bitcoin is just an option.
There are very few companies which only deal with bitcoins.
Paying salary with BTC is extremely good news to BTC.
Bad news to the people who are not using BTC..
They can continue using fiat.
Companies based in Canada have counted on WagePoint director Shrad Rao to make this possible. Wagepoint had set up a service that allowed companies to pay employees in Bitcoin as a experiment following the hype behind cryptocurrencies but had not expected such good results. In just a matter of months, workers from 10 different companies approached WagePoint with the intention of having their salaries and wages being payed in Bitcoin, not in Canadian Dollars.
source : http://www.coinfinance.com/news/employees-in-canada-opting-for-salaries-in-bitcoin
source : http://www.coinfinance.com/news/employees-in-canada-opting-for-salaries-in-bitcoin
Look like bad mistake given bitcoin performance lately.
Paying salary with BTC is extremely good news to BTC.
Bad news to the people who are not using BTC..
Paying salary with BTC is extremely good news to BTC.
Canada is super supportive in Bitcoin. You can see in different forums etc. They even have a forum about btc for canadians alone
Indeed. Canada was one of the first countries to release guidelines for taxes.
Ive said it before, Canada (Toronto) will be the center of Bitcoin.
Only if we can kick Harper out.
Canada is super supportive in Bitcoin. You can see in different forums etc. They even have a forum about btc for canadians alone
Ive said it before, Canada (Toronto) will be the center of Bitcoin.
Only if we can kick Harper out.
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