this has been discussed in the past too. people talking about is it even possible to only life of bitcoin and get paid in bitcoin and only use bitcoin. and it may become possible in the future but not yet.
it is not enough for one person to fully go bitcoin but the rest of the world have to do that too.
and not to mention the volatility. as the article also says, that always is a deal breaker when it comes to wanting to receive money. if you wanted to keep it long term it wouldn't have mattered though.
Topic: Should I exchange one BTC for one month of labor? - page 3. (Read 16323 times)
one problem with bitocoin only salary is that you need to spend money to stay alive! like buying groceries and paying the bills and stuff. and for all of these things you need fiat.
so you either have to keep exchanging bitcoin for fiat and buy with it or you have to go through a third party that offers some kind of card you can use and end up paying higher fees.
another problem is the price. lets say you got paid at 8000 yuan and 5 days later you wanted to buy something and price was at 7800 CNY what will be the plan!
so you either have to keep exchanging bitcoin for fiat and buy with it or you have to go through a third party that offers some kind of card you can use and end up paying higher fees.
another problem is the price. lets say you got paid at 8000 yuan and 5 days later you wanted to buy something and price was at 7800 CNY what will be the plan!
If you read the article when @OP made his post you will understand that the logic behind this is not that he will work for one month and his employer will pay him with bitcoin instead of the usual fiat (here yuan) but only a comparison to understand more people the value of a bitcoin. Reading the article there is a paragraph stating that celebrities and media try to convince the Chinese do not invest their fiat to bitcoin speaking and writing only about the volatility and that government will not allow bitcoin to grow. The conclusion is the authorities in China are using any means to force people to stay away from bitcoin.
Yup, I was actually confused a bit when I read the article. I thought he was asking a question too. I don't think the Chinese government can really hinder bitcoin to the point of being unusable. People in other countries would simply fill the niche the would be left if mining in China was drastically cut, for example.
As for what most people here are discussing, yeah, I'd give up work for a month if I'm sure to get BTC1. It's currently worth more than 3 month's salary here in my country. Then I'll immediately cash out before the price fall.
At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.
http://news.8btc.com/op-ed-should-i-exchange-one-btc-for-one-month-of-labor
A sequence of number would cost me 22 days of working, that's a big decision to make.
http://news.8btc.com/op-ed-should-i-exchange-one-btc-for-one-month-of-labor
If you can afford to and are able to still purchase food and rent for the month then i would say go for it. That bitcoin could be worth a fortune some day and it will be the best months earnings you will ever have had. I would love to get a months wages in bitcoin.
all i can say is that i wouldn't do it!
this means i get all my month's salary in bitcoin and i am not ready for moving 100% to bitcoin as my only currency and the world is not yet ready and i have expenses in my life that i have to pay with fiat and in my country exchanging bitcoin to fiat is a bit of a hassle.
this means i get all my month's salary in bitcoin and i am not ready for moving 100% to bitcoin as my only currency and the world is not yet ready and i have expenses in my life that i have to pay with fiat and in my country exchanging bitcoin to fiat is a bit of a hassle.
i would do it yes, spend whatever you can for bitcoin now, because in the near future buying bitcoin would be very hard for two reason, the first is because the money needed to buy the same bitcoin would be far higher and the second is because more people will hoard for a greater value and will not give away their coins easily making exchange having less liquidity
Don't spend the whole month,salary on bitcoin. I don't want to,say that this is bad investment, no, it's good but still risky and you don't want to spend all your money, there is no need for that. Better invest little by little for a longer period and collect coins. Or maybe find some additional source of income so the part you could invest in bitcoin.
one problem with bitocoin only salary is that you need to spend money to stay alive! like buying groceries and paying the bills and stuff. and for all of these things you need fiat.
so you either have to keep exchanging bitcoin for fiat and buy with it or you have to go through a third party that offers some kind of card you can use and end up paying higher fees.
another problem is the price. lets say you got paid at 8000 yuan and 5 days later you wanted to buy something and price was at 7800 CNY what will be the plan!
so you either have to keep exchanging bitcoin for fiat and buy with it or you have to go through a third party that offers some kind of card you can use and end up paying higher fees.
another problem is the price. lets say you got paid at 8000 yuan and 5 days later you wanted to buy something and price was at 7800 CNY what will be the plan!
If you read the article when @OP made his post you will understand that the logic behind this is not that he will work for one month and his employer will pay him with bitcoin instead of the usual fiat (here yuan) but only a comparison to understand more people the value of a bitcoin. Reading the article there is a paragraph stating that celebrities and media try to convince the Chinese do not invest their fiat to bitcoin speaking and writing only about the volatility and that government will not allow bitcoin to grow. The conclusion is the authorities in China are using any means to force people to stay away from bitcoin.
If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling 
It is not gambling, we can see patterns and charts of bitcoin markets. We know how bitcoin works and that BTC will be worth more in the future.
At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.
A sequence of number would cost me 22 days of working, that's a big decision to make.
i think you don't have to buy a whole of bitcoin but you can make order buy in small parts of bitcoin so you can have your salary to filled your need in daily. its not good to risk your salary just to buy bitcoin although you are tempting with the increasing of price and if you only buy bitcoin with your one month salary, then how you can filled your need for daily if you don't have money to buy something? be wise and not too greedy just to see bitcoin price is good for now but its up to you, i only can give this advice to you and i hope you can understand.
With such a high price, daily purchase seems to be too minute and withdrawal has become a big problem.
At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.
One bitcoin for one month of labor is ok to me depends on what you will be doing. If you are specialize on a high demand course it might not be ok as most programmers and medicals doctors earned three times of that. Again, if you are from countries like USA 1bitcoin may not be able to take care of all your need in a month. Though am happy people can now employed for bitcoin now. A sequence of number would cost me 22 days of working, that's a big decision to make.
Don't spend all your salary to buy Bitcoin, you can spend 30% from your salary to buy Bitcoin, 30% is like a save, buy the Bitcoin everytime you got salary and save Bitcoin more profitable than saving your money at Bank, with Bitcoin you have you get advantage when price of Bitcoin go up.
Investments in bitcoin for the future are very effective. Of course the advantages of crypto currency are quite obvious and I think that you can save money saved in bitcoin. Virtually nothing to lose, because this money we still spend on bullshit. 
Don't spend all your salary to buy Bitcoin, you can spend 30% from your salary to buy Bitcoin, 30% is like a save, buy the Bitcoin everytime you got salary and save Bitcoin more profitable than saving your money at Bank, with Bitcoin you have you get advantage when price of Bitcoin go up.
That's not a big decision to make at all, because it is an easy one. Go for it and work hard for that one bitcoin. If it's going to be just a one month gig, then it is still ok. But if it's going to be a regular job, then better so you could accumulate bitcoin faster than others could.
At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.
A sequence of number would cost me 22 days of working, that's a big decision to make.
Is it a one month deal or for long term ? Long term would be a foolish move to make as you would rather be going up or down due to the bitcoin price swings. Short term, its better than accepting cash as you can sort of skip the taxes for now and instead pay it forward or use it to pay your large bills with it. Will save you the taxes. Obviously, I don't recommend doing this if your country has a strict tax policy. But earning and spending it in bitcoin itself, might save you from paying the taxes.
Never go all in with Bitcoin. Diversification of your investments is a key strategy. You don't have to exchange whole BTC at once.
While I personally believe that BTC is worth it and you will definitely profit, maybe not instantly but at some point in time for sure.
It is not gambling, we can see patterns and charts of bitcoin markets. We know how bitcoin works and that BTC will be worth more in the future.
While I personally believe that BTC is worth it and you will definitely profit, maybe not instantly but at some point in time for sure.
If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling
It is not gambling, we can see patterns and charts of bitcoin markets. We know how bitcoin works and that BTC will be worth more in the future.
only for one month, then yeah why not. if one month payment is not life and death for you then yeah. but for many people who live from paycheck to paycheck and at the end of the month they have less than they spend it is not such a good idea.
going in bitcoin should always be with money you can afford to lose. it is a great investment and a great currency but it is not free of risk. and the risk is not just about the price, what if you lost your private keys for example because of hardware failure or a fire.
going in bitcoin should always be with money you can afford to lose. it is a great investment and a great currency but it is not free of risk. and the risk is not just about the price, what if you lost your private keys for example because of hardware failure or a fire.
The way I see it, you are looking to gamble, or you wouldn't bring this up.
If you want to be in on bitcoin, then go for it, the trend is what it is, moving, always, right now its up, can it make more than 1 month's FIAT salary? no one knows, and anyone who tells you otherwise is full of crap.
If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling
thanks!
If you want to be in on bitcoin, then go for it, the trend is what it is, moving, always, right now its up, can it make more than 1 month's FIAT salary? no one knows, and anyone who tells you otherwise is full of crap.
If you can afford to try it for a month I say go for it, if not then don't bother, you are basically gambling
thanks!
As with anything in life, you have to save for something, if you cannot afford it. I have a strategy that has worked well for me. I set aside a tiny portion of my salary every month for buying bitcoin. The thing is, I do not buy every month and this is where some people make the mistake.
I save this extra disposable cash in a separate savings account, linked to my exchange. When I see a dip in the price, I buy low and when I see the price rise again I sell for profit. I re-invest that profit and buy when it is low again. ^smile^
I save this extra disposable cash in a separate savings account, linked to my exchange. When I see a dip in the price, I buy low and when I see the price rise again I sell for profit. I re-invest that profit and buy when it is low again. ^smile^
At its current price, 8000 yuan a coin is more than one month salary of a Chinese.
A sequence of number would cost me 22 days of working, that's a big decision to make.
Just spend for your essential requirements like food,clothing and buy with the rest amount bitcoin,i mean 0.5 or 0.7.Just do it for two months and you will be having 1 bitcoin.Bitcoin has doubled in price over the last six months,and i hope your bitcoin would also double within this year. A sequence of number would cost me 22 days of working, that's a big decision to make.
I think it is a good thing to keep bitcoin today, and there is the possibility of bitcoin will reach higher in the future, but I think you do not need to buy bitcoin with the results of your money in the work, because it is a real result you can biyaya you buy needs your everyday, I suggest you better join the bitcoin signature lies in service compensation in one week I think it was enough for your storage during the show was still running.
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