If all your wages were paid in USDT, would you accept it? - page 2.

Queentoshi

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

If you get a job and it is a well-paying job, you may not be able to reject accepting payment in USDT if that is the only option of payment that they give. If you start receiving wages in USDT you will become used to it and know what exactly to do whenever you receive.
I do not think anyone will refuse a job offer because the only payment method is through USDT.

batang_bitcoin

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Quote from: JeffBrad12 on April 27, 2024, 05:01:32 AM

Quote from: batang_bitcoin on April 27, 2024, 04:43:10 AM

We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.

the instant someone receive their BTC if paid at current rate, they can easily convert it crypto is as liquid as ever, there's definitely no implication.
its just that maybe some people that aren't really well versed with cryptocurrency investment might fear losing their money even though its gonna be fine mostly if its temporary the volatility won't affect that much in my opinion.

It's a stable coin so there's no problem with USDT but you're right that some probably are only into Bitcoin and ethereum but they don't know a lot about stable coins and other cryptocurrencies. But once they started to understand and realize that there's so much with the crypto market and if they finds out that it's liquid, they're going to be happy to accept it as there's not that much difference aside from being liquid but it's just the same as the treatment we give to other known crypto as money.

tygeade

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Quote from: Peanutswar on April 26, 2024, 09:55:42 AM

Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

Stable coins has a lot of pairs right now if you get back with the previous history of the market especially the Luna coin case the price of the stable coins de-peg so ideally there a volatility, if you can make a quick trade with the fiat or have a chance could be a fiat currency its better to take than having unexpected market crash and lose the value of it. Tons of topic already created about the use of the crypto as payment method but takes a lot of hassle to the user who is not knowledgeable with the crypto.

They do get a lot less though, there are a lot of places (exchanges) who are not using the stablecoin market anymore and delisting some, even getting USDT delisted, which is insane when you think about it because that is the biggest one with hundreds of billions of dollars. So, I feel like the future of stablecoins look a little bleak and I believe that we are not going to see that work.

All in all we should consider wages being paid in USDT (or any other stablecoin) as a problem because in the future it could be quite troublesome to get those cashed out, what if it's banned everywhere? I believe that we should consider that as a problem and we should probably just consider what we could do with it as much as we can and just get paid in either fiat or btc instead.

God bless u

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

If you would have asked me this question a year ago I would have surely answer yes but now the time has changed and we have to change as well according to the shift of power.

The power is drifting out of USAs hand especially after the oil dealings have been started in different currencies rather than dollar. Now more power will shift towards yuan and other currencies so dollar was a giant but now its being faded. So its more secure to wait and then answer this question.

Kelward

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I'll be happy to receive my salary in usdt if my country's fiat currency is devaluing due to inflation, so that it'll not affect the value of my money, so as the currency is devaluing the stablecoins will hedge it against the inflation Secondly it'll be beneficial to me because I'm into cryptocurrency, it'll make it easier to convert it into any cryptocurrency for trading and investments. But it won't be beneficial to people whose economy are stable and also to people who're not into crypto businesses, they cannot easily spend it, they'll have to pay transaction fees in order to convert it to fiat.

JeffBrad12

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Quote from: adaseb on April 27, 2024, 02:41:42 AM

I think most people would rather accept a stablecoin than an actually crypto coin like bitcoin or Ethereum. Many people would be scared to get paid in bitcoin if next week the coin can lose 10% of its value. But if they were paid in USDT then many would accept it most likely.

Right now I don’t think people fear tether being insolvent since they hold so much USD that they make billions in revenue just from the US treasuries they hold. They also reinvest their profits back into Bitcoin itself. So since there is no more tether fud many would be happy to accept it.

indeed that concern about insolvency as well as the safety of holding stablecoin should also taken into account, i mean we all know tether is a private company that reserved money for pegging their USDT but i'm just maybe concerned that it might have weakness like UST has in the past.
personally i have no problem with USDT, the fact that it is already reaching billions of market cap might means that it just too big to fail. but anything can happen and there's always chance.

Quote from: batang_bitcoin on April 27, 2024, 04:43:10 AM

We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.

the instant someone receive their BTC if paid at current rate, they can easily convert it crypto is as liquid as ever, there's definitely no implication.
its just that maybe some people that aren't really well versed with cryptocurrency investment might fear losing their money even though its gonna be fine mostly if its temporary the volatility won't affect that much in my opinion.

batang_bitcoin

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We're even getting paid in Bitcoin and getting paid in USDT isn't a problem. Just don't pay in random altcoins that have no liquidity at all.
This is the reality that most of us wanted to get paid in Bitcoin, ETH or any other top altcoins so receiving USDT as a payment is totally fine and not a problem at all.

adaseb

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I think most people would rather accept a stablecoin than an actually crypto coin like bitcoin or Ethereum. Many people would be scared to get paid in bitcoin if next week the coin can lose 10% of its value. But if they were paid in USDT then many would accept it most likely.

Right now I don’t think people fear tether being insolvent since they hold so much USD that they make billions in revenue just from the US treasuries they hold. They also reinvest their profits back into Bitcoin itself. So since there is no more tether fud many would be happy to accept it.

OrangeII

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Why not ? I've been in the crypto business for years, and I've always used USDT. If you are afraid of USDT, you can exchange it for fiat at your trusted exchange when you have been paid. Apart from that, many people are enthusiastic about bounties paid using USDT. If there were jobs on the internet that paid USDT, I think a lot of people would be interested. Even in real world work, if the person knows how to utilize USDT, I don't think he will refuse it.

wxa7115

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

I do not see too many reasons why I would want to do this, the only one that exist is that being paid in USDT will make my life slightly easier when buying bitcoin, however it would make the use of the rest of my money way more complex as no business I know accepts USDT.

And I suppose I would not be the only one with that kind of problem, and even if it did not existed, I am sure many people on this forum will never accept to receive stable coins as their main source of income, since we know that those coins can collapse at any given time, and we have witnessed examples of this recently.

AmoreJaz

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Quote from: kawetsriyanto on April 26, 2024, 04:38:06 PM

Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life.

I think it is no problem to have the salary in USDT as long as the amount of the salary is satisfying. Grin

I won't keep the USDT but I will convert it on the exchange directly. It won't be difficult to sell the USDT in exchanges, we just need to have CEX account. Since it is a stablecoin, it has no huge volatility in the price. So, I think it is secure enough to be the salary of everyone.

Quote from: Abu-Naim on April 26, 2024, 03:46:02 PM

And since there are exchanges that offers p2p transactions, you can cashed the money out anytime you want.

We can convert it to dollars anytime. It can be through regular withdrawal in the exchange account, the dollars will be sent to our bank account ourselves. Or we also can use p2p transactions, it can also be an alternative in converting the USDT to bank accounts.

This is the advantage of USDT, as it is available in most centralized exchanges, you have no problem exchanging it right away. So if in case you will receive USDT, you can directly convert it to USD if you need it. As the price is usually stable, the change may be very small if you are worried about the price volatility of this stablecoin. So for me, it doesn't pose any problem and you can accept it without a doubt.

kawetsriyanto

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life.

I think it is no problem to have the salary in USDT as long as the amount of the salary is satisfying. Grin

I won't keep the USDT but I will convert it on the exchange directly. It won't be difficult to sell the USDT in exchanges, we just need to have CEX account. Since it is a stablecoin, it has no huge volatility in the price. So, I think it is secure enough to be the salary of everyone.

Quote from: Abu-Naim on April 26, 2024, 03:46:02 PM

And since there are exchanges that offers p2p transactions, you can cashed the money out anytime you want.

We can convert it to dollars anytime. It can be through regular withdrawal in the exchange account, the dollars will be sent to our bank account ourselves. Or we also can use p2p transactions, it can also be an alternative in converting the USDT to bank accounts.

Abu-Naim

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

To me it depend on how exposed you are about the risk behind USDT and how do you think it will affect your holdings in future especially if you are into cryptocurrency.

I would accept it if it is me because I know that I can use them direct to achieve my bitcoin holding dream, I don’t need to be looking for ways to transfer them into exchange again.
And since there are exchanges that offers p2p transactions, you can cashed the money out anytime you want.

stomachgrowls

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Quote from: taufik123 on April 26, 2024, 03:20:42 PM

Quote from: ShowOff on April 26, 2024, 02:08:48 PM

-snip-
USDT is a currency that is accepted in many places as a means of payment so far, but USDT is not accepted by everyone. Regulatory issues are the biggest factor in the crypto adoption journey, so I can't expect my salary to be paid in USDT, especially in a real job.

It just depends on how regulations allow crypto as a substitute for traditional currencies.
We are in the same place, regulation requires that we do not adopt crypto freely because there are restrictions on the use of crypto only for commodities.

I also don't expect my salary to be paid in crypto like USDT even though it is a stablecoin or paid in Bitcoin.
Receiving a salary with native currency is still better at the moment, because we are talking about a matter of risk and everyone will not accept crypto as payment.

But maybe another thing, when we work on this forum and accept payments using crypto, it still looks good.

True, if the company would really be having that kind of transition and your boss or the owner would really be planning on giving out that USDT payment or pay then there's nothing you can do but if it would turns out to be an option then it would really be on your choice whether you would really be that accepting out such option or not but if you are somewhat a trader then it would be something useful but if you would really be
still that directly be cashing out all of those USDT then it would really be just still all the same on which you would really be making out those conversions after all. So it would really be that depending into someones
preference since not all would really be having on the same interest when it comes to this.

Regulation is something that will really be that an issue in regarding this since not all places in the world would really be allowing that crypto integration even if this one turns out to be a stablecoin
then it wont really be that easily be having that kind of availability as a replacement or an option for worker salary pay.

taufik123

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Quote from: ShowOff on April 26, 2024, 02:08:48 PM

-snip-
USDT is a currency that is accepted in many places as a means of payment so far, but USDT is not accepted by everyone. Regulatory issues are the biggest factor in the crypto adoption journey, so I can't expect my salary to be paid in USDT, especially in a real job.

It just depends on how regulations allow crypto as a substitute for traditional currencies.
We are in the same place, regulation requires that we do not adopt crypto freely because there are restrictions on the use of crypto only for commodities.

I also don't expect my salary to be paid in crypto like USDT even though it is a stablecoin or paid in Bitcoin.
Receiving a salary with native currency is still better at the moment, because we are talking about a matter of risk and everyone will not accept crypto as payment.

But maybe another thing, when we work on this forum and accept payments using crypto, it still looks good.

electronicash

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Quote from: yhiaali3 on April 26, 2024, 03:02:12 PM

Quote from: Lakai01 on April 26, 2024, 03:02:05 AM

You know that USDT is pegged to the US dollar, right?

Everything you have listed here also applies to USDT, there is hardly any difference ... except that with USDT it's still not clear whether they actually have the reserves or whether at some point the bomb will burst and the pegging can no longer be maintained ... with billions in damage to the overall market.

Yes I agree with you, they are both very similar and one is worse than the other.

It is true that USDT is still unclear whether they actually have the reserves, but on the other hand, does the dollar have real coverage from gold, for example? Or even do the numbers in banks and on government computers of dollar balances match the paper dollars printed on the ground? Certainly not, I think most of these numbers are fictitious.

I personally don't like the dollar or USDT either, but in general I prefer owning any digital currency over fiat currencies if I have to, but if I had a choice I would only choose Bitcoin or another cryptocurrency with a good value.

It is easier to spend the digital dollar online than receiving the USD in check so that's the advantage of it which many have already been using even the people that are not in this community are aware of it already.

USDT whether backed by real USD or not, is acceptable still in different stores so why not? if anyone prefers BTC, he may buy BTC using that USDT. i think a lot are planning to do so when they are paid in USDT. this is the most use case of USDT for most traders.

yhiaali3

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Quote from: Lakai01 on April 26, 2024, 03:02:05 AM

You know that USDT is pegged to the US dollar, right?

Everything you have listed here also applies to USDT, there is hardly any difference ... except that with USDT it's still not clear whether they actually have the reserves or whether at some point the bomb will burst and the pegging can no longer be maintained ... with billions in damage to the overall market.

Yes I agree with you, they are both very similar and one is worse than the other.

It is true that USDT is still unclear whether they actually have the reserves, but on the other hand, does the dollar have real coverage from gold, for example? Or even do the numbers in banks and on government computers of dollar balances match the paper dollars printed on the ground? Certainly not, I think most of these numbers are fictitious.

I personally don't like the dollar or USDT either, but in general I prefer owning any digital currency over fiat currencies if I have to, but if I had a choice I would only choose Bitcoin or another cryptocurrency with a good value.

kentrolla

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I would say it would be a "No" from my side because it would be just like fiat and no appreciation so what's the purpose of getting paid through USDT as it doesn't have any benefit to choose over fiat and if we want to spend t we save to go through the hassle of converting it into fiat so I would not prefer and moreover I am skeptical whether they really hold value equivalent of supply USDT in dollars

CageMabok

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Quote from: shanhaigamefi on April 24, 2024, 05:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

There is no need to panic about this as long as you know how to exchange it from USDT to US dollars using the Coinbase exchange as assistance. Because for me, this is not a serious problem, especially if USDT itself supports more networks and pairs on major exchanges at the moment, making it quite easy for anyone who wants to exchange it for another currency. So there's no need to panic over just a small thing like this, especially if you can solve it in a fairly easy way without having to worry about thinking about fluctuations or risks.

ShowOff

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I can receive wages from any altcoin including USDT as one of them, but of course I cannot expect the government to do so. Cryptocurrencies including coinstable are not legal tender in my country, but I can sell services to be paid in crypto online, including bitcoin or USDT.

USDT is a currency that is accepted in many places as a means of payment so far, but USDT is not accepted by everyone. Regulatory issues are the biggest factor in the crypto adoption journey, so I can't expect my salary to be paid in USDT, especially in a real job.

OP, move this topic to an altcoin discussion, that tends to be the more appropriate for this topic place.

Topic: If all your wages were paid in USDT, would you accept it? - page 2. (Read 557 times)