Topic: Employees in Canada Opting For Salaries In Bitcoin - page 3. (Read 4959 times)
I absolutely am liking the idea but I'm not so sure I'd want my job and Bitcoins being intertwined or at least be the first people to try such a service. I guess it more depends on the kind of work I do, for example, if I had more then one job this might be something I'd be interested in or if I had an online side job. I think some people are in a situation where they feel it could be worth any potential risk and I can respect that. I look forward to updates on this experiment.
I would love to be on a signature campaing and get paid in BTC, not sure about actual work tho.
In canada I haven't heard a single time government opposing the people's will until it is extremely illegal.Some countries has considered Bitcoin illegal and even had banned it's usage throughout the country.Government is run by capitalists is what we must understand.
A bit more info here:
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
Taxes are paid in dollars, the salary is counted as the dollar equivalent at the pay day.
What it has to do with the minimum wage?
Pretty sure that salary (at least minimum wage) must be paid in the official currency. Otherwise, would that mean that if some bakery had some cashflows problems, could they pay the employees with bread? Don't think so.
Quote
For Wagepoint, however, it works differently. Rao said for tax purposes, employees are still being paid with Canadian dollars on paper.
Seems like they officially pay in dollars and just convert to bitcoin (with the employees' consent).
This can be good also may be bad.
Seem like that employees in world try to earn more, expecting for change of btc price.
However this may be first signal for other companies to get involved in this and one step closer for more implementing of credit/debit card with btc
Seem like that employees in world try to earn more, expecting for change of btc price.
However this may be first signal for other companies to get involved in this and one step closer for more implementing of credit/debit card with btc
And Bitpay is starting this right now in the US (currently in beta). https://bitpay.com/bitcoin-payroll-api
Could be the start of a more massive adoption of bitcoin as a money and means to later purchase goods with.
Could be the start of a more massive adoption of bitcoin as a money and means to later purchase goods with.
One question - On pay day, Bitpay uses the volume-weighted average price of bitcoin over the previous 24 hour period. In case bitcoin has seen a huge surge on the day in question, isn't Bitpay exposed to the translation risk?
However with even the employees of WagePoint having to be paid partially in Bitcoin, due to the legalities and tax implications that may be caused if the full salary was paid in Bitcoin, the Canadian Dollar has remained the main currency of Canada.
What does the author expect? Did he expect Bitcoin to replace the Canadian Dollar overnight?
Nice to see employees in Canada receiving this option. It would probably help companies who sell their products for bitcoins.
What does the author expect? Did he expect Bitcoin to replace the Canadian Dollar overnight?
Nice to see employees in Canada receiving this option. It would probably help companies who sell their products for bitcoins.
A bit more info here:
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
Taxes are paid in dollars, the salary is counted as the dollar equivalent at the pay day.
What it has to do with the minimum wage?
A bit more info here:
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
http://www.cbc.ca/news/business/salaries-paid-in-bitcoin-a-growing-trend-in-canada-1.2752441
I still don't understand how can employer pay whole salary in bitcoin (excluding deductable income tax) and not breach the statutory minimum wage (set in fiat).
And Bitpay is starting this right now in the US (currently in beta). https://bitpay.com/bitcoin-payroll-api
Could be the start of a more massive adoption of bitcoin as a money and means to later purchase goods with.
Could be the start of a more massive adoption of bitcoin as a money and means to later purchase goods with.
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
Jump to: