If all your wages were paid in USDT, would you accept it? - page 3.

pawanjain

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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 guess it really depends on the individual. There are people who invest only a little portion of their salary into crypto.
There are also people who use only a little portion of their salary in fiat and invest the rest in crypto.
So the latter people would prefer getting their salaries in USDT instead while the prior would still prefer fiat.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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 don't trust USDT neight any other currency apart from bitcoin and if was paid with usdt the only thing i would do is to convert or trade to bitcoin to enable me trust the asset that I am holding, most times these currencies that is tied under United State Dollar could have the tendency to decouple or depegged whereby you would lose your entire asset. As a worker or salary earner when your payment is being received then you can split them accordingly the way you wanted, maybe selling some percentage to your local account, while some percentage to your investment portfolio and some to charity account.

dansus021

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Like the other said there is risk that USDT or other stablecoin are going to de-pegged but I still accept it at least for now because transferring USD and withdraw to my local fiat is costly and is not easy, Transfer via Paypal is sometimes tricky because they can freeze your account anytime.

So If all your wages were paid in USDT, would you accept it? Yes but Im gonna convert it into my local fiat or other crypto to reduce the risk being de-pegged tho USDT now is to big to fails if there is something going on with USDT it gonna shake the entire crypto ecosystem more than FTX and Luna I believe

Myleschetty

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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!

USDT is a stablecoin mostly backed with fiat currency and it also somehow operates in the fiat system because the government has the power to tell the Tether team to freeze your USDT. This is something that has happened several time when the government is hunting for suspects that use USDT, so accepting a wage in USDT is just like accepting wages in USD. However, USDT may experience de-peg if not managed properly or inflation occurs.

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Quote from: shinratensei_ on May 13, 2024, 04:08:16 AM

Quote from: Nrcewker on May 12, 2024, 11:52:07 AM

As said before you need to rethink about it. As from your wages or salary you pay the bills of your home, live your life. So if you paid in USDT, by converting them to fiat will take more time and some fees will be there. Hence most of the people will deny to take it. Yes a combination of Fiat and Cryptos can work. As the cryptos portion can be used as an investment option and from the fiat portion you can pay the daily necessary bills.

it will be indeed beneficial for those that want to reinvest their money, less steps to take, but gonna be complicated for people that never even tried using these stablecoins.
but speaking about fee though, since USDT is quite literally everywhere i'm sure that we can just choose the cheapest blockchain to distribute the salary and get over with it.
so its not a problem really, the problem is probably the concern of micro depegging whereas the value kinda fluctuats a little time to time, some people might find it to be annoying though I guess.
but most people I think just won't care, since its micro means small margin anyway.
so I guess most people will be fine enough, as usual the payroll like this should be consent based so no one will feel forced.
to be fair, the fact that stablecoin is very low in volatile is already convenient enough for salary distribution.

If given a choice between USD and USDT, I will still choose USD. Getting paid in USDT is a real advantage for crypto investors like us, and I don't see any problem with the fees, or its small fluctuations. What I worry more about is its legality, and its possible collapse. We all know that stablecoins are created by private companies and are pegged to USD value, but they are not created by governments. So, since they are no different from altcoins, there are risks. Not to mention, you are certainly no stranger to USDT scandals over the years, they can collapse at any time.

shinratensei_

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Quote from: Nrcewker on May 12, 2024, 11:52:07 AM

As said before you need to rethink about it. As from your wages or salary you pay the bills of your home, live your life. So if you paid in USDT, by converting them to fiat will take more time and some fees will be there. Hence most of the people will deny to take it. Yes a combination of Fiat and Cryptos can work. As the cryptos portion can be used as an investment option and from the fiat portion you can pay the daily necessary bills.

it will be indeed beneficial for those that want to reinvest their money, less steps to take, but gonna be complicated for people that never even tried using these stablecoins.
but speaking about fee though, since USDT is quite literally everywhere i'm sure that we can just choose the cheapest blockchain to distribute the salary and get over with it.
so its not a problem really, the problem is probably the concern of micro depegging whereas the value kinda fluctuats a little time to time, some people might find it to be annoying though I guess.
but most people I think just won't care, since its micro means small margin anyway.
so I guess most people will be fine enough, as usual the payroll like this should be consent based so no one will feel forced.
to be fair, the fact that stablecoin is very low in volatile is already convenient enough for salary distribution.

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Quote from: Stalker22 on May 12, 2024, 03:57:19 PM

Quote from: Lanatsa on May 12, 2024, 01:59:19 PM

Just as mentioned that as the moment you do receive your USDT then you could simply convert it out and p2p right away on exchangers and change it to fiat
if you do have that kind of worrying about those depegging and other issues.

Thats true, - cashing out to fiat right away does reduce the risk of losing value if the stablecoin drops its peg. For smaller sums, it may be the safer option. However, peer-to-peer transactions have risks too, like the possibility of fraud by the other party. Theres no perfectly safe option so its about weighing risks against benefits in your specific situation. Perhaps use caution with large amounts, but accept some risk for convenience with smaller

If I am paid in USD, I can use same to buy USDT. In the other hand, if I am paid in USDT, I can convert same to USD. The world is full of possibilities, so I don't think it's needful killing one'self. The most important thing is getting a job and being worthy to be paid at the end of the month or year.

Stalker22

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Quote from: Lanatsa on May 12, 2024, 01:59:19 PM

Just as mentioned that as the moment you do receive your USDT then you could simply convert it out and p2p right away on exchangers and change it to fiat
if you do have that kind of worrying about those depegging and other issues.

Thats true, - cashing out to fiat right away does reduce the risk of losing value if the stablecoin drops its peg. For smaller sums, it may be the safer option. However, peer-to-peer transactions have risks too, like the possibility of fraud by the other party. Theres no perfectly safe option so its about weighing risks against benefits in your specific situation. Perhaps use caution with large amounts, but accept some risk for convenience with smaller

Liquid Flower

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If all your wages were paid in USDT, would you accept it?
Every payday I would convert it all into BTC, alcoins and/or USD, so I would be holding no Tether the next days. Many people know USDT is not always going to be stable, so why take the risk?

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Quote from: Wapfika on May 12, 2024, 12:15:58 PM

Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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!

Why you will need a fake USD in the form of USDT while USD is more convenient for an instant use of your salary. Also USDT frequently depegging which means you will earn slightly less if you choose USDT instead of direct USD.

You can easily deposit fiat on CEX since the P2P feature on exchange gives you the option to place an order wit( your desired price so you don’t need to rely on USDT and just purchase the crypto that you want using your fiat. USDT is a very shady stable coin which is not worthy to use as substitute to fiat when it comes for salary purposes.

One of the main risks of having those stablecoins that it could be potentially be having that depegging on which it could really lead up to zero or losing money simply but of course the company wont really be accepting or making such changes if there were no reasons. Just like on what others been saying that above that if ever the company would really be having that kind of changes then it would really be something that you cant be able to resist since you are just that a worker and any decisions or changes would be made is something that you cant complain not unless if you would be tending to resign just because you dont like such changes. Grin

Just as mentioned that as the moment you do receive your USDT then you could simply convert it out and p2p right away on exchangers and change it to fiat
if you do have that kind of worrying about those depegging and other issues.

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Stablecoins aren't really that complicated to turn into fiat though? I mean am I missing something, if someone pays me in fiat, in like under 2 minutes I can turn that into USDT, and if someone pays me in USDT then I can turn that into fiat in under 2 minutes as well. This doesn't feel like it would be all that complicated to handle, I feel like we are going to end up with something quite ordinary, like nothing of worth would change in your life, you would basically be doing the same thing.

I understand some may think differently, but that doesn't mean that we are going to get something big from it. I hope that we could get crypto to be common like this for everyone because it would at least start at crypto and then could go to fiat, instead of getting paid in fiat like commonly.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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!

Why you will need a fake USD in the form of USDT while USD is more convenient for an instant use of your salary. Also USDT frequently depegging which means you will earn slightly less if you choose USDT instead of direct USD.

You can easily deposit fiat on CEX since the P2P feature on exchange gives you the option to place an order wit( your desired price so you don’t need to rely on USDT and just purchase the crypto that you want using your fiat. USDT is a very shady stable coin which is not worthy to use as substitute to fiat when it comes for salary purposes.

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As said before you need to rethink about it. As from your wages or salary you pay the bills of your home, live your life. So if you paid in USDT, by converting them to fiat will take more time and some fees will be there. Hence most of the people will deny to take it. Yes a combination of Fiat and Cryptos can work. As the cryptos portion can be used as an investment option and from the fiat portion you can pay the daily necessary bills.

tvplus006

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Quote from: bettercrypto on May 11, 2024, 01:30:16 AM

If I am an employee, I will not agree, but if another cryptocurrency is paid to me as my salary, such as SHIB, PEPE, BNB, KAS, and others on the top list, it is fine with me as long as it is not USDT. I only want USDT when I convert crypto to our Fiat.

Then there is also a risk when you are paid in USDT. But of course, that still depends on the choice of crypto enthusiasts. Maybe the others will allow what they want to happen.

A very strange choice) After all, it is no secret to anyone that the risk of receiving a salary in coins such as SHIB, PEPE, BNB, KAS is higher than receiving a salary in USDT. Of course, it's good if the price of these altcoins increases in price after receiving a salary, but what will you do if a dump follows?

YOSHIE

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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!

Before answering, of course we must first understand the advantages and risks of US dollars and USDT. My understanding is that there are two places and factors for choosing a salary that is paid in US dollars and USDT.
Understanding:The US dollar is a fiat currency, which is traded or exchanged in the real world in transaction activities, of course if I work in the real world, I definitely don't want to be paid in USDT, obviously I ask for fiat US dollars in physical form, even though transfer via Bank andetc.

And USDT is a stablecoin, often mentioned by many people and USDT is included in one of the crypto currencies, only it is pegged to fiat, based on the US dollar exchange rate.
The point is: if I worked in the crypto services sector or carried out trading activities of course I would choose a salary in USDT.

Conclusion: the two currencies have different places, as do the salaries paid in different places.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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!

It's not a problem for me to receive my salary in USDT, because I just convert it to my country's currency directly when receiving it on the exchange. But I probably wouldn't want to hold onto it for long, since the stablecoin has the risk of de-pegging, and bad luck isn't on the calendar, so I'd prefer to immediately convert it to my country's currency and then withdraw it to my bank account.

Mahanton

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Quote from: bettercrypto on May 11, 2024, 01:30:16 AM

Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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 I am an employee, I will not agree, but if another cryptocurrency is paid to me as my salary, such as SHIB, PEPE, BNB, KAS, and others on the top list, it is fine with me as long as it is not USDT. I only want USDT when I convert crypto to our Fiat.

Then there is also a risk when you are paid in USDT. But of course, that still depends on the choice of crypto enthusiasts. Maybe the others will allow what they want to happen.

As an employee then you would definitely be agreeing on what your employer would really be able to integrate or would be making out those changes on which it would be something that you cant really be able to resist out even if it would really be that against with your interest. People would really be finding things to be that some sort of new thing for them specially to those who doesnt know about crypto or about stablecoins.
In means about awareness and adoption or recognition then this is something a good initiative if ever they would really be making out such decision but we know that people would really be sticking into those things on which they have been getting used to through ages. There are ones who might be opposing but just as been said that there's nothing they could do.

Come in mind that even if you do have that receive USDT as your salary then you could really always that be able to convert it out to cash and this is something that will really be not much
of an issue. There are really just those people who doesnt really like to welcome new ideas and integrations.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 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 I am an employee, I will not agree, but if another cryptocurrency is paid to me as my salary, such as SHIB, PEPE, BNB, KAS, and others on the top list, it is fine with me as long as it is not USDT. I only want USDT when I convert crypto to our Fiat.

Then there is also a risk when you are paid in USDT. But of course, that still depends on the choice of crypto enthusiasts. Maybe the others will allow what they want to happen.

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Quote from: milewilda on May 09, 2024, 01:21:01 PM

Quote from: slaman29 on April 29, 2024, 06:39:24 AM

Honestly, I would accept anything that doesn't cost me a lot of fees etc.

USDT? Sure of course. Just send my salary to an exchange, immediately exchange for BTC and withdraw to my wallet.

Bitcoin first of course. I don't even care people say high fees it's nothing compared to bank/paypal.

Actually it would really be depending on how you would really be finding yourself be needing up that salary per month on which we know that not all would really be able to save up some coins into their own wallet
on converting their USDT to Btc on which its most likely you would really be converting those things into fiat on which this is something that a common approach that you would really be considering.
Its true that it wont really be that much of an issue on whatever the things that they will really be accepting. As a worker or employee if the management would really be having that kind of integration
then it would really be ending up with that kind of acceptance on which you dont really have any choice. As long it do have value and could be able to convert out to fiat directly without
issues then i dont see for this thing to be that much of a concern if there would really be on such transition in between fiat salary and a stable coin.

Hard to read what you're saying you should really learn to use shorter sentences or something Tongue

But anyway, I don't think this is even management integration. What's the problem with converting usdt to btc? Almost anyone in the world can do this easily, and almost anyone can access P2P selling. Which is even faster/better.

Almost all crypto is cheaper than anything else if you're earning USD in a country where USD isn't the accepted currency.

Or am I not getting what you're commenting?

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Quote from: sokani on May 09, 2024, 02:06:25 PM

I know that USDT just like every other stablecoins depeg but the value of my local currency is continually going down as if it wants to discover oil. Just earlier this year, it fell to its lowest value ever. So yes, I wouldn't mind being paid my salary in USDT. It would be an added advantage to me as I can always choose to trade to my local currency for immediate usage or swap to Bitcoin and hodl long term.

In the same way, you could have previously exchanged your salary in local currency for USDT. I'm saying this to the fact that for someone who understands cryptocurrency, it doesn't matter in which currency his salary will be paid.

Topic: If all your wages were paid in USDT, would you accept it? - page 3. (Read 1055 times)