If you can get paid through cryptocurrency, do you still choose fiat currency? - page 5.

imstillthebest

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Quote from: XCANA on August 13, 2021, 08:12:12 AM

How I wish all my customers will be willing to pay for the services we render in all the transaction we do have with them I would have been the most happiest person. Though we are yet to get to that level in our society where almost everyone will be aware of Bitcoin and crypto currency in general, till then we will be trying to educate anyone we come across about Bitcoin and crypto currency in general.

what was your business all about ?
if its online it will be easier to encourage people to pay using cryptocurrency because cryptos is online but if it was an offline business that will take time especially if your country is newly expose in cryptocurrency but indeed that we all can get there but what you did of spreading the word bitcoin can help speed up the process of crypto adoption in your place .
keep up the good work mate

XCANA

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How I wish all my customers will be willing to pay for the services we render in all the transaction we do have with them I would have been the most happiest person. Though we are yet to get to that level in our society where almost everyone will be aware of Bitcoin and crypto currency in general, till then we will be trying to educate anyone we come across about Bitcoin and crypto currency in general.

bengsabeng

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of course all employees will choose to be paid with fiat money rather than being paid with bitcoin. these employees work to survive, not to invest. The price of bitcoin that changes all the time makes the number of bitcoins that employees get every month also changes.

iv4n

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Quote from: Spack17 on August 11, 2021, 07:06:37 PM

It's not a tough question to me to be honest. My answer is, I wouldn't want to get paid in Bitcoin for example. Because I don't see any meaning in this. Most of us are using Bitcoin as an investment tool, we must admit that. So, we can already make our investments after we get paid in fiat. So, is there really a need for us to get paid in Bitcoin or any other cryptocurrency?

Many of us live in places where we can't do much with crypto! So there's no point in receiving the entire paycheck in crypto when you depend on fiat! The other thing, maybe more important, is for how much money you working and how much you spend! If you live from month to month, there's no enough money for putting on a side (investing)... but some people who have higher paychecks can combine it... for example Messi:

Quote

Messi's move to PSG includes getting partly paid in the club's cryptocurrency — the value of which has tripled since last week. Football star Lionel Messi shall be partly paid via the club's fan token, $PSG. The Ethereum-based token is in high demand, with its value surging by 100%.

So why bother to invest every month, when you can simply get your salary partially in crypto... it's like saving and investing at the same time, and it's automatic!

shogun47

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Quote from: Hippocrypto on August 11, 2021, 07:17:06 PM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

~snip~

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

There's no adequate answer that I can give to that, because people these days combined both cryptocurrency on their daily living. In using the internet transactions, of course cryptocurrency can be a good alternative instead of fiat but for local goods that needs fiat currency it won't be effective. So the future might be considered as a divided mindset for both physical money and digital currency. We need them both in order to continue dwelling towards technology advancement.

Maybe in 10 years from now literally every store has the infrastructure to facilitate quick and easy cryptocurrency transactions. I remember the times when debit and credit cards were a quite new thing and you couldn't pay with card everywhere. Nowadays it is the pervasive standard. I think the same will happen with cryptocurrencies and the required infrastructure. If conversion is necessary, that will all happen in the backend such that neither the merchant nor the customer has to deal with any calculations. It is going to be much simpler in the future.

Hippocrypto

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Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

~snip~

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

There's no adequate answer that I can give to that, because people these days combined both cryptocurrency on their daily living. In using the internet transactions, of course cryptocurrency can be a good alternative instead of fiat but for local goods that needs fiat currency it won't be effective. So the future might be considered as a divided mindset for both physical money and digital currency. We need them both in order to continue dwelling towards technology advancement.

Spack17

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It's not a tough question to me to be honest. My answer is, I wouldn't want to get paid in Bitcoin for example. Because I don't see any meaning in this. Most of us are using Bitcoin as an investment tool, we must admit that. So, we can already make our investments after we get paid in fiat. So, is there really a need for us to get paid in Bitcoin or any other cryptocurrency?

KennyR

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Getting paid in cryptocurrencies is still very new in the market. People who knew well about the potential will go for it. The existence of fiat money can't go unused for any reason. This makes people get used to it, even when we have got more number of development and advancement associated assets for usage.

terrorJR

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Quote from: EdenHazard on August 11, 2021, 02:17:17 PM

of course you guys can never YET live without fiat, at least for now.. as the mass adoption wont takeover in few days, it takes decades and we are working on it day by day, building a strong huge ecosystem.
if u live in a solid crypto environtment you might could do this.

I think even if it's for a very long time, maybe in the next few decades we will still need fiat at least for transactions in real life such as buying daily necessities.
Although bitcoin was adopted by many people and has begun to be used for transactions, it does not necessarily mean that bitcoin is used as the main means of payment because we all know for sure that bitcoin can be used as an alternative.
and it will be very difficult for fiat to be eliminated because believe it or not for some people (including me) fiat is still the main choice to buy goods or daily needs

EdenHazard

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Quote from: bryant.coleman on August 09, 2021, 02:32:12 AM

In my country, it is possible to pay utility bills and do shopping in supermarkets using cryptocurrency (although not directly, first you need to convert your BTC to gift cards). But even here, some of the payments are not possible in cryptocurrency, such as rent and housemaid salary. For these we need fiat cash. In case I receive 100% of my salary in Bitcoin, then I need to convert at least some of it to fiat in order to pay these bills. And in my case, a large part of my portfolio is in BTC and therefore I will not prefer to receive anymore amount in cryptocurrency.

of course you guys can never YET live without fiat, at least for now.. as the mass adoption wont takeover in few days, it takes decades and we are working on it day by day, building a strong huge ecosystem.
if u live in a solid crypto environtment you might could do this.
using crypto as a whole in our daily activities, but not today.

crypto still widely known as an asset rather than a money though.
you cant buy bread with crypto anywhere anytime for your daily needs, theres might one but not much.
the point is thst the work are in progress.

laredo7mm

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Quote from: fulcare on August 09, 2021, 09:13:23 AM

Quote from: Sithara007 on August 08, 2021, 11:55:32 PM

Quote from: fulcare on August 08, 2021, 02:32:28 PM

That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.

There is no point in using Tether (or any other stablecoin), when their acceptability is far lower than fiat currency. As of now, none of the cryptocurrencies have an acceptability rate which can be compared with that of fiat currency. On top of that, the usage of these stablecoins may create issues for you, when you file your tax returns. And finally, I would not consider Tether (USDT) as a safe asset. From whatever data they have published so far, it is clear that only a minority of the reserves are being held in cash. That will be an issue in case of a mass liquidation event.

It is even worse than that... I think they published only a sort of pie diagram and provided the % for each of that asset classes they hold to back their Tether, but nobody knows how much value the assets they hold to back Tether really have! Cheesy

They could provide a pie diagram and have less than a million available to back billions of Tether. What a ridiculous report! Tongue

There must be a trusted source where this data has been verified. Otherwise why people will believe what they are showing. I haven't seen anyone claiming they have provided false statements.

I saw some porn industry will use USDT as a payments option. That means stable currency could be a better alternative to fiat because of no speculation in them. I personally prefer fiat and crypto both.

Distinctin

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Quote from: sisikin on August 09, 2021, 04:06:27 AM

If I can get the cryptocurrency of my choice, then I may choose to accept the cryptocurrency as a salary.
But if I choose a cryptocurrency casually, I still choose fiat currency, because this way I can invest what I want to invest.
However, my side boss pays in cryptocurrency. He will ask me in advance which currency I want, but I always choose Bitcoin every time. Because although it fluctuates greatly, it is a valuable long-term currency.

Getting paid in crypto is still an advantage for us so i will agree 30% of my salary will be paid thru bitcoin and the rest will be fiat. It won't give me worries because i still plan to invest in bitcoin a part of my salary so it will never be an issue.

However, if adoption for crypto is already happening and we can purchase our basic needs thru crypto, then there's no way i still get interested with fiat. I believe crypto is the future particularly bitcoin so i will make sure i own a huge amount of it as much as possible.

bryant.coleman

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Quote from: fulcare on August 09, 2021, 09:13:23 AM

It is even worse than that... I think they published only a sort of pie diagram and provided the % for each of that asset classes they hold to back their Tether, but nobody knows how much value the assets they hold to back Tether really have! Cheesy

They could provide a pie diagram and have less than a million available to back billions of Tether. What a ridiculous report! Tongue

There has been no independent audit. We know what they have revealed so far. And there is no guarantee that they are saying the truth. I still don't know why people prefer USDT over other more reliable stablecoins. One justification that I have heard is that USDT is more decentralized when compared to the other stablecoins. But should that be a factor to be considered? Irrespective of who is issuing them, someone needs to store the backup funds. And that is the case for USDT, as well as for the other stablecoins such as USDC, PaxUSD, BUSD and UST.

conected

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Quote from: Charot12345 on August 11, 2021, 10:56:25 AM

Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

If ever that plans happens, I think I won't allow all my compensation to be at the form of crypto. Maybe 25% of it is agreeable but not all. I can allow some part of my compensation is on crypto because that can serve as my investments. Everyday I need to purchase my daily needs so I need fiat. If my salary is on crypto, then I need to convert it ot fiat first before using it. So I thonk it was a little bit hassle.

- You don't allow and others don't nor allow and deny, sometimes each person will prefer half fiat payment and the rest crypto, sometimes they also prefer 20% or 30% crypto, the company is not created to discuss the issue of basic salary on crypto, delaying work solely due to such personal requests is not something the company requires employees to do. Your little trouble is hundreds and thousands of contracts for the modification and signing again for the company, fiat is still the most common and easiest system

Charot12345

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Quote from: EvieLannister on July 27, 2021, 12:00:19 AM

Quote

Bitwage is a platform that converts wages into cryptocurrency. Bitwage founder Jonathan Chester said: “A lot of people now want to earn part or all of their wages through Bitcoin.” The company has made contributions in the United States, Europe, Latin America and Asia this year. 20,000 employees. Some users processed $30 million in salaries, including employees from Google, Facebook, General Electric, Philips, the United Nations, and the U.S. Navy. Many of these employees have signed up for this service themselves.

Chester stated that he converts 15% of his monthly salary into virtual currency, which is "a way to not worry about whether to buy or accumulate bitcoin or cryptocurrency at the right time."

Many companies are also considering allowing their employees to choose to receive partial or full compensation in the form of cryptocurrency. If you can get paid through cryptocurrency, which one would you choose? If the boss pays in Bitcoin, would you want it? Or you continue to prefer to pay in fiat currency to facilitate the purchase of tokens you like.
Do you think cryptocurrency payment will be a new trend in the future?

If ever that plans happens, I think I won't allow all my compensation to be at the form of crypto. Maybe 25% of it is agreeable but not all. I can allow some part of my compensation is on crypto because that can serve as my investments. Everyday I need to purchase my daily needs so I need fiat. If my salary is on crypto, then I need to convert it ot fiat first before using it. So I thonk it was a little bit hassle.

fulcare

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Quote from: Sithara007 on August 08, 2021, 11:55:32 PM

Quote from: fulcare on August 08, 2021, 02:32:28 PM

That is one important aspect and the other one is that even stable coins aren't a solution to that problem because the hassle is too big as hardly any business accepts Tether. Also, why use Tether if you can just use the USD in your bank account. Less explanations to financial authorities, overall less trouble. We are not quite there that more and more people get paid in crypto because it is more practical to them. Some do receive or take crypto as payment because they want to drive adoption, which is a good and important endeavor.

There is no point in using Tether (or any other stablecoin), when their acceptability is far lower than fiat currency. As of now, none of the cryptocurrencies have an acceptability rate which can be compared with that of fiat currency. On top of that, the usage of these stablecoins may create issues for you, when you file your tax returns. And finally, I would not consider Tether (USDT) as a safe asset. From whatever data they have published so far, it is clear that only a minority of the reserves are being held in cash. That will be an issue in case of a mass liquidation event.

It is even worse than that... I think they published only a sort of pie diagram and provided the % for each of that asset classes they hold to back their Tether, but nobody knows how much value the assets they hold to back Tether really have! Cheesy

They could provide a pie diagram and have less than a million available to back billions of Tether. What a ridiculous report! Tongue

sisikin

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If I can get the cryptocurrency of my choice, then I may choose to accept the cryptocurrency as a salary.
But if I choose a cryptocurrency casually, I still choose fiat currency, because this way I can invest what I want to invest.
However, my side boss pays in cryptocurrency. He will ask me in advance which currency I want, but I always choose Bitcoin every time. Because although it fluctuates greatly, it is a valuable long-term currency.

Nora Olin

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With the acceptance of cryptocurrency by more and more people, most of us are accustomed to getting paid in fiat currency. This method has penetrated our ideas. If Bitcoin is now proposed to pay salaries, most people should have difficulty Accept it, because cryptocurrency is unstable. If it is used as a reward, it will definitely cause instability of our income. No one is willing to shrink their own interests.

fauzan Ichsan

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Quote from: Rasa nanas on August 09, 2021, 01:10:01 AM

I will choose 50% fiat money and 50% in bitcoin. I will use fiat money to buy daily necessities and I will use bitcoin as future savings. but even if it does happen I'm sure most employees will choose to be paid with fiat money because currently very few people know bitcoin. besides that at this time there are still few places that accept bitcoin as a means of payment, and of course this makes many people not want to be paid with bitcoin.

right, in the sense of bitcoin to find fiat money that can later be used to meet the needs of life. it's a shame if bitcoin is used to meet daily needs, because the value of bitcoin can increase so that it doubles fiat money when converted. I think they both have their own duties, of course which one is effective then that's what is used

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Quote from: KaliLinux on August 09, 2021, 02:36:55 AM

DCA is one of the best crypto investment methods that has been talked of by most crypto enthusiasts and if this is what it seems like to me by taking part payments with crypto as a salary.

Yup. I get both salaries in crypto and fiat so there are benefits of both. Although there was a time the crypto payment came in near the peak and currently its like almost 50% of its value Grin

Topic: If you can get paid through cryptocurrency, do you still choose fiat currency? - page 5. (Read 1478 times)