If they will oe paid BTC today and the BTC is still low as its price today the employee will be lucky if the price pump for this coming end year...
People now on that place will be influence by crypto and spread word for it is now on its way to let the others know about the goodness of Bitcoin.
Topic: Salary in BTC from the Israeli company Spot.IM - page 2. (Read 2226 times)
Any update if this becomes reality now?I have been seeking for many proof about companionship being use bitcoin or other altcoins to pay their employees because from this actions we can distinguish how far cryptocurrency goes till now and i know many of us are waiting for this breakthrough
There's a company on Japan as well that loved this adoption but the current situation of these countries are different from each other. Japanese loves more to get involved with cryptocurrencies but I don't know with the Israeli people, they probably are still in the process.
Let us not mentioned japan for thise kind of issues as we know that the whole japan accepted and uses bitcoin as real currency so there no impossible if they use this as payments for whole system
I am more than confident that not all employees of the company are satisfied with this innovation. Crypto currency is unstable and their salary will not be stable either.
It's for sure.There's a company on Japan as well that loved this adoption but the current situation of these countries are different from each other. Japanese loves more to get involved with cryptocurrencies but I don't know with the Israeli people, they probably are still in the process.
Let us not mentioned japan for thise kind of issues as we know that the whole japan accepted and uses bitcoin as real currency so there no impossible if they use this as payments for whole system
It is not the first news about the salary payment by the employer of part of the salary by crypto-currencies. But it seems to me that this is a wrong way out of the situation, this is an imposition against the will. And it is a very stupid method of attracting new investors.
I am not sure that would be imposing against anyone's will. It is their terms, and obviously as long as what they want to do is not against any rule, I do not see any case someone would have against them as the case may be. I see it as a great one though considering we really want to see the space being utilized effectively and we sure do not know the reason why the company will prefer to go this way, but since some of the concerns are covered regarding using crypto exchanges as well as the volatility, I really do not see this as a problem.
I am more than confident that not all employees of the company are satisfied with this innovation. Crypto currency is unstable and their salary will not be stable either.
It's for sure.There's a company on Japan as well that loved this adoption but the current situation of these countries are different from each other. Japanese loves more to get involved with cryptocurrencies but I don't know with the Israeli people, they probably are still in the process.
Israeli Internet company Spot.IM will pay salaries in bitcoins
Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.
According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.
To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.
Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.
In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.
According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.
If a company accepts only bitcoins and altcoins, then it is logical that it pays all its employees profit in bitcoins, and if this company uses Fiat money, then it is not logical. The price of bitcoin and altcoins compared to the Fiat currency jumps. Could bankrupt the company. Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.
According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.
To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.
Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.
In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.
According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.
And it's neither good nor bad. This is the reality. More and more companies nowadays are beginning to accept payment in cryptocurrencies. This is becoming the norm. Why discuss what is inevitable? Cryptocurrency is the future of humanity.
I am more than confident that not all employees of the company are satisfied with this innovation. Crypto currency is unstable and their salary will not be stable either.
And it's neither good nor bad. This is the reality. More and more companies nowadays are beginning to accept payment in cryptocurrencies. This is becoming the norm. Why discuss what is inevitable? Cryptocurrency is the future of humanity.
I don't know if this company can be successful with this kind of payment or not. But I believe that this company will be punished by the government cause as I know there is no country has clearly rule for taxes for BTC or any cryptocurrencies income so this is also a kind of tax evasion.
Yeah I agree with you that until now if the company still in their process of giving salary through in Bitcoin form but they have a sort of arrangement regarding the volatility of the coin but I disagree with you regarding the tax evasion because the OP said that the company are having an arrangement through their tax deduction, it just a matter of both parties approval to pursue the different strategy.
the salary should be paid in cash, and we also know that until now the BTC price has dropped causing it is also not worth going forward. some other companies that implement policies like this are better to rethink
It's a very interesting idea to receive salary in bitcoins, but it seems to me that it would be better to pay wages in USDT (Tether) - this coin has low volatility and real support by the financial assets!
If employees agree to receive a salary in BTC, then why not, especially BTC can be sold when the rate rises and make good money on it.
I don't know if this company can be successful with this kind of payment or not. But I believe that this company will be punished by the government cause as I know there is no country has clearly rule for taxes for BTC or any cryptocurrencies income so this is also a kind of tax evasion.
This is a step towards future technologies and reliability. Any national currency can lose points in a day. So I think that's a good thing.
not many, maybe 1/100,000 companies will do. mostly are crypto/IT related company. it still a long way to go for coffee shop pay salary in crypto.
It is not the first news about the salary payment by the employer of part of the salary by crypto-currencies. But it seems to me that this is a wrong way out of the situation, this is an imposition against the will. And it is a very stupid method of attracting new investors.
I expect the same thing should happen with other employers as well and others. This is the very good news about crypto.
So far I can not find any advantage of paying a working day with Bitcoin. In any case, in life We need real money and will have to sell Bitcoin for Fiat. But Bitcoin today is unstable and how will your salary in Bitcoin feel? 
I expect the same thing should happen with other employers as well and others. This is the very good news about crypto.
I think that this is good, the cryptocurrency is only beginning to gain momentum in the market and such a balance as a salary in the form of BTC will be able to bring it to a new level.
Israeli Internet company Spot.IM will pay salaries in bitcoins
Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.
According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.
To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.
Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.
In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.
According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.
After all these years i have seen most people do ask about adoption on where bitcoin or other crypto would be applied into businesses or companies which do pay up such coins but now it do already happen but people do say things other way around. This is an advantage for those crypto enthusiast workers but for those who dont have any knowledge at all they would really rather choose up fiat because they dont like to recieve a thing that do changes its prices any second or minute depending on how the market moves.Israeli Internet company Spot.IM plans to pay salaries to employees in bitcoins. Now she is negotiating with the Israeli tax authority (ISA) about obtaining a permit for the proposed method of payment along with an appropriate method of calculating exchange rates.
According to Spot.IM spokesman Itay Bracha, in Israel, the salary or allowance paid to an employee is taxable. The company offers employees to open an account on the crypto exchange, where they will transfer the converted into bitcoins salary.
To provide insurance against bitcoin volatility, the highest coin price and the lowest on the specified day will be calculated and used as an exchange rate. The staff will also have the opportunity to choose between receiving a salary or part of it in bitcoins or fiat money.
Employees of Spot.IM have approved this offer, as the high fee for conversion will be covered by the company. In addition to net profit, pension funds or other benefits will not be transferred using bitcoin.
In February 2018, the Israeli tax authorities announced that the crypto-currency transactions are assets subject to a capital gains tax. Thus, employees will need to pay a tax of 25% if they will profit from operations with bitcoins.
According to the head of Spot.IM, Ido Goldberg (Ido Goldberg), the company fully supports crypto-currencies and believes that such initiatives can provide confidence in the crypto-currency sphere.
these good news, doesnt effect market. but small bad news crashes market. at least 10% loss in market in a bad new
This is a good thing IMO, if I were one of the worker in that company, I would choose part BTC and part fiat option, because one would need money for day to day activities and also one would be holding BTC which in long term is a sure bet for investors. Just hope that more good news like this is going to continue
Yes, most of the people will do the same thing because when the price of Bitcoin is low we might get a higher value. So some part of the money should be in fiat currency for our daily needs. Not only Israeli company very soon many companies will start giving salaries in terms of Bitcoins only in the coming days.
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