Topic: How Would you Like Your Pension Paid in Bitcoin? - page 2. (Read 706 times)

I agree with you whether the pension is paid in fiat currency or in bitcoins both are good but fiat is better because the price of bitcoins always fluctuates so if the pensioner is not bitcoin friendly it will not be pleasant for him.  But if the pension is paid in fiat currency then he can buy and hold bitcoins as per hibitcoin.  So it is better to pay pension money in fiat currency rather than bitcoin. I would support this and invest some money in Bitcoin after pension and keep the rest as fiat.

Unless the amount to be paid will be defined in Bitcoin then that would make a lot of sense. I mean if you are paid $99 dollars but then sent in Bitcoin, it makes no difference cause you could equally purchase it with the $99, But if the company had a fixed amount of Bitcoin to pay you as a Pension then why not? Adding to that, you are already acquainted with Bitcoin and it is a payment method, so this shouldn't even be a question as I assume you will be happy and impressed if that were the mode of payment for your pension.

Also, I understand how you feel but remember you cannot force the company to pay you in Bitcoin. If they aren't used to it or do not know about it, they won't do it just because one person asked. And Isn't Nigeria the country that once banned Bitcoin or so?

I don't see any benefit here, I don't see any difference between multiplying pensions in fiat or bitcoin while fiat is still major currency. If you really want to save on bank-related fees and avoid inflation...then when you get your pension, you can also buy bitcoin right after. It doesn't have to be bitcoin because you still need to convert bitcoin into fiat currency to spend.

Pensions in fiat or bitcoin have nothing to do with our spending because we can convert both very simply. Saving or having a better life depends on our plans and decisions.

The government will not really allow the system to send the pension payment to the pensioners in Bitcoin because, first of all, the majority of the government is against Bitcoin.

And apart from what you said, if bitcoin is really a good long-term investment, would we allocate all our money to it? No matter who is rich or a billionaire, they will not put all their money into Bitcoin; of course, they have other resources in their business.

Getting paid in Bitcoin could actually be beneficial for employees because it could help employees save money on fees associated with traditional banking and payment systems and can also help employees avoid inflation just like in the case of Op since the supply of Bitcoin is limited. But one question that's related to this topic is whether we'll see companies offering the option to get paid in Bitcoin or other cryptocurrencies. Right now, it's pretty rare to find a company that offers this option but as Bitcoin becomes more mainstream, maybe it's possible that we are going to see more companies offering it as a payment option. And, I will have to agree with you because it's definitely important to consider our risk tolerance and the different factors that could impact our financial stability in our old age.

If you had a pension scheme in Bitcoin, you would definitely be much better position today. It would indeed have been a landmark decision if such an initiative had been taken by the government. But such thinking will not be useful because if the government does not support it. Bitcoin must be validated first. Bitcoin is completely illegal in my country so even thinking of something like this makes no sense. It can be implemented if the government in your country supports it. People get their pension money after working for a long time. Doing something like that would be really profitable for a Bitcoin holder. We want to holt but many times we fail to hold due to various reasons but if a pension scheme account can be opened with Bitcoin then it will undoubtedly be a good idea. Bitcoin pension holders will be ahead from all kinds of holders.

I agree that saving money in banks seems like a poor choice once we learn about Bitcoin. But at least your cash earns some interest, and you can still get it compared to when you withdraw it and leave it in your wallet. You might spend it on nonsense things or lend it to someone who will not pay it back.

However, in all the countries where bitcoin is legalized, this scheme may be introduced in those countries, but so far I have not seen any country paying salaries, pensions, and remittances through bitcoins. Although these processes are very difficult to implement, some countries accept Bitcoin only in banks as well as in some local markets.Accepting payments through Bitcoin is seen in a small number of applications, particularly coffee houses, party bars, ice cream shops, etc., but has yet to be implemented in the areas of salaries or pensions. However, in the future such a decision may come, there is nothing to be surprised if it is implemented.

In the past, we've seen some companies paying their employees (part of) their salaries in bitcoins (I think BitPay was one of them). But for the purpose of pension schemes, all you really need is a pension fund that lets you choose instruments you want to invest in and a reliable BTC spot ETF.


In most countries, you won't be able to freely access your pension fund money and withdraw it to invest in something else (they would be pointless if you could). Those would usually be restricted e.g. until you reach a certain age.

I think this is only possible to happen if a company is in the I.T field because they probably get used to BTC. The same goes to the workers of it. If not, then yeah it may not really be possible because number one; The owners may not be aware about BTC;

And number two, other employees are not going to do the same thing. For now, the only best thing that the OP can do, is to follow your advice there of manually converting his fiat into BTC, if that's what he wants. The best way to profit from BTC is I think via doing trades, and not thru investing because in trading, it is possible for one to earn unlimited profits in a short period of time only, as long as they are already well skilled.

Haha, First of all, OP TBH I'm not a government employee and there are no pension sources as I'm a freelancer even in the future. This topic was quite hot in the previous Bull Run as well, where I think a multi-national company tried to plan to pay their employee's pensions in Bitcoins but that was just a statement never executed.

Bitcoin is payment mode and there's nothing to wonder about if even my salary is paid to me in Bitcoin, I'm still able to utilize it exception it should be accepted in the day-to-day marketplaces, I can even explore more compared to the fiat due to their boarder limitations. TBH if Op are you trying to express the pension in Bitcoin as an investment for the long term no doubt it will be greatly helpful even in the current regulatory circumstances.

On the other hand, if you are saying that pensions should be paid in Bitcoin so that people can spend as they always wanted to it will require developments in the Bitcoin ecosystem, especially in the regulation of Bitcoin acceptability. AFAIK a pension is paid for stable day-to-day living for senior citizens why they would be interested in making more out of it? Rather than considering the pension in Bitcoin better Prefer the salary here as young ones are more interested in breakthrough through their financial cycle.

I feel your suffering. The dramatic swing in the Nigerian Naira against the dollar and Bitcoin'sdevelopment show the difference between traditional and digital asset investing. Traditional pension schemes provide unsatisfactory returns, especially compared to bitcoin investments. Your experience emphasizes financial literacy and the necessity to comprehend and use emerging financial technology like Bitcoin for long-term wealth growth. While the past is unchangeable, your insights can help others make similar decisions. The "Bitcoin pension" you created for yourself is original and reflects personal finance trends. It promotes financial self-education and technology adaptation. This lesson is about more than Bitcoin's potential: we need to constantly examine and change our financial strategy to match the changing economy and our personal aspirations.

I don't think the company will want to follow what you want to happen either. Then I have not seen any company in this era, even before no one has done such a thing that a company paid their employees via Bitcoin.

So, if you receive your pension, you should exchange it for bitcoin if you also want to hold it long-term, and this is the best way to at least somehow get a profit from bitcoin.

I think he knows it's not possible to have his pension paid in Bitcoin but he was just thinking out loud. But seriously the topic made some sense, It shows how Bitcoin can be used as a safe landing for the failing fiat. Let's assume he wasn't promoted and he's on the same salary scale for 30 years... He's going to receive $1,140, which is actually nothing much. But if his pension was in Bitcoin or if he could device a plan to be doing DCA for that number of years, he's going to retire f*cking rich.

Do you think bitcoin is a safe investment?  if you thought it was safe, would you invest all your money in it?  furthermore, this is a pension and old people will depend on it for the rest of their lives, so I don't think this is a wise choice.  Bitcoin has never been considered a safe investment even though its value is increasing every day, don't forget that the higher the profit, the higher the risk.

One more thing, even if bitcoin becomes more scarce, you can still buy bitcoin at any time as long as you have the money.  so, there will never be a situation where the government does not use bitcoin to pay people's pensions if that happens.  Bitcoin is a financial market and will always be traded in the market.

And that's the reason why many of us here are saving for our retirement and that is because we all know that there's gonna be a huge profit and value from holding Bitcoin.

We're even doing that so it's a yes that if pensions are gonna paid with Bitcoin, most of us will be happy to accept it.

Reading some of the posts, some are uncertain and it's okay and understandable but for the ones that are sure to accept that, we're all in with that. We can take Bitcoin's volatility and it's already part of our life and even our aging.

in last everything comes to the point that you missed the opportunity to invest in bitcoin when the prices were too low, and this type of regrets are in everyones life,
I was also not curious enough to learn about bitcoin after knowing the name of bitcoin in 2018.
And the company will not start to pay salary or pension in bitcoin because of it's volatile nature and majority of the employees/people are not bitcoiners to accept payment in bitcoin.
or company will may not pay in bitcoin to you individually.

You can't ask company to pay your pension funds in bitcoins because this process is regulated and your pension is protected by your government and reserves are stored in national bank. This is a widespread method and I think Nigeria won't be an exception but it would be really good if they let people to choose where to invest this money. If I had that option, I would store them in bitcoins and some altcoins like you because inflation eats years of hard work and finally you are left with nothing. It's not fair, forced pension system is a robbery from governments. Low salaries, high taxes, this is not enough, let's add pensions. Eh, sad reality of our days.

I believe there’s same topic like this before and you are not wrong on your preference over Bitcoin when use to pension. But some people is not relying that much on pension when they are old since they have other savings that’s why they can afford to take risk on Bitcoin since they are already on the last stage of life.

But this is a case to case basis depending on the understanding of someone on Bitcoin since it’s useless to use Bitcoin to pension in general if the majority doesn’t know how to use it and just learning Bitcoin for the sake of claiming pension. Maybe an optional is the best approach on implementing this.

The ones who knows the value of Bitcoins will surely accept this decision. For them Bitcoins are like safe investment, whose values increases day by day. Hence they will become the happiest if they are paid in Bitcoins. But the main reason arises when the governing bodies won’t allow to give pension in the form of Bitcoins. As Bitcoins are valuable coins, hence they will like to store more of it for the welfare of the nation. So if we practically see then it’s not possible.