Polish company pays salaries in BTC | Bitcointalksearch.org

empoweoqwj

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Quote from: pand70 on December 16, 2013, 05:09:17 AM

Quote from: augustocroppo on December 15, 2013, 06:25:25 PM

1. If the 2 BTC worth more than before (let's assume 1 BTC worth 600 USD), the employer is certainly not going to pay a salary higher than he promised.

2. If the 2 BTC worth less than before (let's assume 1 BTC worth 400 USD), the employee is certainly not going to accept a salary lesser than was promised.

Well since they both agreed to that they are responsible to honor the deal taking into account all risks.
Actually only the employee takes some risk. If the employer buys the coins when he makes the deal then he will be a crook if he decides to sell them instead of paying the employee the day of the payments.

Depends entirely when the employer buys the coins

pand70

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Quote from: augustocroppo on December 15, 2013, 06:25:25 PM

1. If the 2 BTC worth more than before (let's assume 1 BTC worth 600 USD), the employer is certainly not going to pay a salary higher than he promised.

2. If the 2 BTC worth less than before (let's assume 1 BTC worth 400 USD), the employee is certainly not going to accept a salary lesser than was promised.

Well since they both agreed to that they are responsible to honor the deal taking into account all risks.
Actually only the employee takes some risk. If the employer buys the coins when he makes the deal then he will be a crook if he decides to sell them instead of paying the employee the day of the payments.

empoweoqwj

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Quote from: bitcoinpsftp on December 15, 2013, 04:29:06 PM

I don't htink that's necessarily true. If they buy the bitcoins a month before paying the salaries, things should go well. Things will only go badly if they decide to wait until endo f month to pay via bitcoin, and the price tripples in said month...

That just makes no sense. Things can go badly however you do it.

augustocroppo

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Quote from: bitcoinpsftp on December 15, 2013, 04:29:06 PM

I don't htink that's necessarily true. If they buy the bitcoins a month before paying the salaries, things should go well. Things will only go badly if they decide to wait until endo f month to pay via bitcoin, and the price tripples in said month...

Let's assume employee receives 1000 USD as salary each month.

Employer buy 2 BTC at price of 500 USD. That means the employer spent 1000 USD to acquire the total amount of BTC.

The pay day comes and the employee decides to receive in BTC.

Are the employer going to pay 2 BTC (which cost 1000 USD) for the employee? No. The employer is going to pay the amount equivalent in accordance with the current exchange rate due two reasons:

1. If the 2 BTC worth more than before (let's assume 1 BTC worth 600 USD), the employer is certainly not going to pay a salary higher than he promised.

2. If the 2 BTC worth less than before (let's assume 1 BTC worth 400 USD), the employee is certainly not going to accept a salary lesser than was promised.

So everything is fine until someone will have to pay for the loss. When that come in scene, I am certain that neither employer or employee are going to accept the loss.

betyourbits

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I'd happily take my salary in bitcoin! You could always cash it into fiat if you needed some.

EvilPanda

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Small Red and Bad

Quote from: Trance on December 15, 2013, 04:16:29 PM

kurvaaa! =D!

It's not a polish word Wink

You write it with V in czech and hungarian, with W in polish.

bitcoinpsftp

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I don't htink that's necessarily true. If they buy the bitcoins a month before paying the salaries, things should go well. Things will only go badly if they decide to wait until endo f month to pay via bitcoin, and the price tripples in said month...

augustocroppo

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Quote from: granathus on December 15, 2013, 07:38:49 AM

This may not be huge in terms of the size of the company, but it is huge in setting a precedent. Another first, a new victory for Bitcoin. When the barriers fall at the front, pushed down by the brave pioneers, it opens up a spearhead for the big volume of BTC "mainstream" to follow. Momentum is building guys....

Nope.

This had been made before and failed.

It is going to fail again because the price of BTC against fiat currency is extremely volatile.

Trance

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kurvaaa! =D!

pabloangello

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Quote from: bitcoinpsftp on December 15, 2013, 03:56:39 PM

This is great news. Hopefully other companies will soon follow suit and we'll see some real rises in bitcoin prices. Just curious, price has really stabilized in the last few days. You guys think it will go back to 1200 soon?

We still have weekend Wink

Wait till monday Cheesy

bitcoinpsftp

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This is great news. Hopefully other companies will soon follow suit and we'll see some real rises in bitcoin prices. Just curious, price has really stabilized in the last few days. You guys think it will go back to 1200 soon?

Cryptolator

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Quote from: empoweoqwj on December 15, 2013, 02:00:30 AM

Quote from: Cryptolator on December 14, 2013, 11:56:27 PM

I would love to get paid in Bitcoins for working !

You would when its going up. Not sure what you would feel if it halved in value in the course of a few days and you couldn't afford to pay your mortgage.

Risk is called risk for a reason.

I think I would go for a 50-50 (Bitcoin / Cash)
I like risk !

EvilPanda

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Quote from: nate008 on December 15, 2013, 07:51:11 AM

Quote from: granathus on December 15, 2013, 07:38:49 AM

This may not be huge in terms of the size of the company, but it is huge in setting a precedent. Another first, a new victory for Bitcoin. When the barriers fall at the front, pushed down by the brave pioneers, it opens up a spearhead for the big volume of BTC "mainstream" to follow. Momentum is building guys....

That is why "HUGE" , is such a bad way of putting it!

It is not the first!!!!
Sorry for the tone , but you didn't even bother to read the whole thread. Or this one:
https://bitcointalksearch.org/topic/finnish-software-firm-offers-to-pay-part-of-staffs-salary-in-bitcoin-153347

Finnish software firm offers to pay part of staff’s salary in Bitcoin
March 15, 2013, 11:35:12 AM.

So you understand that HUGE , is actual huge ?

Of course it's not the first in the world, just first in Poland. And it's not a big company, my wild guess is they don't employ more than 50 people.
Right now BTC is difficult to use as tax laws don't apply to it, and a registered company has to report how much it devoted to salaries, so I guess they report that in fiat and then convert it to BTC and send to employees.

granathus

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Quote from: nate008 on December 15, 2013, 07:51:11 AM

Quote from: granathus on December 15, 2013, 07:38:49 AM

This may not be huge in terms of the size of the company, but it is huge in setting a precedent. Another first, a new victory for Bitcoin. When the barriers fall at the front, pushed down by the brave pioneers, it opens up a spearhead for the big volume of BTC "mainstream" to follow. Momentum is building guys....

That is why "HUGE" , is such a bad way of putting it!

It is not the first!!!!
Sorry for the tone , but you didn't even bother to read the whole thread. Or this one:
https://bitcointalksearch.org/topic/finnish-software-firm-offers-to-pay-part-of-staffs-salary-in-bitcoin-153347

Finnish software firm offers to pay part of staff’s salary in Bitcoin
March 15, 2013, 11:35:12 AM.

So you understand that HUGE , is actual huge ?

Oh, my bad. If it is not the first I agree that this is only huge Wink

nate008

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Quote from: granathus on December 15, 2013, 07:38:49 AM

This may not be huge in terms of the size of the company, but it is huge in setting a precedent. Another first, a new victory for Bitcoin. When the barriers fall at the front, pushed down by the brave pioneers, it opens up a spearhead for the big volume of BTC "mainstream" to follow. Momentum is building guys....

That is why "HUGE" , is such a bad way of putting it!

It is not the first!!!!
Sorry for the tone , but you didn't even bother to read the whole thread. Or this one:
https://bitcointalksearch.org/topic/finnish-software-firm-offers-to-pay-part-of-staffs-salary-in-bitcoin-153347

Finnish software firm offers to pay part of staff’s salary in Bitcoin
March 15, 2013, 11:35:12 AM.

So you understand that HUGE , is actual huge ?

granathus

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Activity: 294

Merit: 100

This may not be huge in terms of the size of the company, but it is huge in setting a precedent. Another first, a new victory for Bitcoin. When the barriers fall at the front, pushed down by the brave pioneers, it opens up a spearhead for the big volume of BTC "mainstream" to follow. Momentum is building guys....

empoweoqwj

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Quote from: ?? on ??

This is HUGE!!

How many times have we read "This is HUGE" and promptly forgotten about it the next day ....

HUGE would be a big supermarket chain taking bitcoin. HUGE is not some polish web design firm offering to pay their employees in btc. Let's get things in perspective.

RebelWorm

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I would like my employer to pay me in bitcoins! Tongue

Sindelar1938

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Very very cool and much needed

Would be good to see similar news coming out of the new economy in eastern europe

Lewis2

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I would still prefer Fiat and decide for myself when to turn it into Bitcoin, but giving the opportunity is great of course.

Topic: Polish company pays salaries in BTC (Read 3032 times)