Topic: The first country in the world. Officially salary in cryptocurrency! (Read 575 times)
August 17, 2019, 03:17:29 PM
this is good and interesting ofcourse but i wouldnt accept that until i can buy almost everything with cryptocurrency.get salary, use exchange to get your money, what if market is red? wait a couple days to add some money but what if you lose more?
August 17, 2019, 01:08:09 PM
I really don't like being paid by Crypto.
Getting paid in US dollars is the best thing. I think not only me but also many people think so. Flat money is not much volatile so your salary is worth your job. In addition, for me the main job and participating in Bitcoin are two unrelated jobs. Therefore, my salary should be paid in US dollars to take care of my family, and my savings will invest in Bitcoin to satisfy my passion.
Getting paid in US dollars is the best thing. I think not only me but also many people think so. Flat money is not much volatile so your salary is worth your job. In addition, for me the main job and participating in Bitcoin are two unrelated jobs. Therefore, my salary should be paid in US dollars to take care of my family, and my savings will invest in Bitcoin to satisfy my passion.
August 16, 2019, 11:42:29 AM
Last time i have heard about people getting paid in bitcoin was when the price of Bitcoin was starting to fall down in 2018. It was a way for the company to drop his cryptocurrencies who were falling to his employees if the company know that the coin price is going to fall down.
It is a win situation for a company, as they don't have any exchange fees and can put the price they want to the cryptos salary. They can say that the current price of bitcoin is locked at $11000 to pay their employees less money. But just a few minutes after the price can fall lower.
It is a win situation for a company, as they don't have any exchange fees and can put the price they want to the cryptos salary. They can say that the current price of bitcoin is locked at $11000 to pay their employees less money. But just a few minutes after the price can fall lower.
August 16, 2019, 11:33:14 AM
The price fluctuations are too damn high to get paid a full salary in btc especially when the number of places where you can buy something with it isn't huge (it's constantly growing though). We need a massive amount of time to fully adapt cryptocurrencies and i personally think that such thing will never happen. Cryptocurrencies may be a revolutionary step to the future world without fiat currencies, but i think that cryptos are just a first step. New Zealand government has shown their acceptance and support to cryptoworld, but it's just another step. Anyway - good for them.
August 16, 2019, 11:18:54 AM
Payment of employee salaries using cryptocurrency in New Zealand is not the first time in the world but Japan first, if more countries follow salary payments with cryptocurrency, mass adoption will increase
August 16, 2019, 09:52:29 AM
I don't really see how this solves anything since you can just buy bitcoins within hours of getting your paycheck.
Yes, we can buy cryptocurrencies with our salaries which is in fiat. But what matters here is the acceptance of cryptocurrencies by a government which is a good progress.
A better thing would be if a company started paying people in their own currency or the government created its own currency. Perhaps a stable coin based on the country in question local currency value and then it will simply be a digital version of it.
Company's own cryptocurrency?? No, We want bitcoin. Not a cryptocurrency issued by government. Bitcoin is much more healthy. August 16, 2019, 09:49:57 AM
The problem of this though is taking track of the Bitcoin price.
It is a good thing for them to accept cryptocurrency as a salary since the demand will again increase but they might have a hard time coping up with the price changes since we all know that it will be volatile crypto. It is good but I will be sticking with my fiat salary for now, unless the price of Bitcoin explodes and we are talking about 6-7figures.
It is a good thing for them to accept cryptocurrency as a salary since the demand will again increase but they might have a hard time coping up with the price changes since we all know that it will be volatile crypto. It is good but I will be sticking with my fiat salary for now, unless the price of Bitcoin explodes and we are talking about 6-7figures.
August 16, 2019, 09:48:33 AM
Is New Zealand about to mint their stablecoin or going to peg against XRP or the bitcoin. I would have loved it if you had included the source to this post so I read the mechanism of the operation. Good move but hope they wouldn't be making some calculative error.
August 16, 2019, 09:33:26 AM
This seems to be good news for the growth of crypto currencies on the world market. With New Zealand being becoming one of the few countries in the world to pay salaries in Crypto is a huge step towards the country’s technological future.
It is a big step and we must keep in mind that a government would not regulate and officialise crypto as a mode of payment unless it has a plan in order. It might just be a beta move on the government’s part in order to see and understand the movements this step can make.
Whatever be the case, it seems to be a good leap ahead and hopefully we could see other world governments embracing the inevitable usage of Bitcoin and other crypto currencies.
It is a big step and we must keep in mind that a government would not regulate and officialise crypto as a mode of payment unless it has a plan in order. It might just be a beta move on the government’s part in order to see and understand the movements this step can make.
Whatever be the case, it seems to be a good leap ahead and hopefully we could see other world governments embracing the inevitable usage of Bitcoin and other crypto currencies.
August 16, 2019, 04:33:52 AM
In New Zealand, from September 1, people will be able to get paid in cryptocurrency! 
This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
For me, I would like to get paid in cryptocurrency as long my country will accept if like fiat money, especially in this situation that my government legalized it. The only thing that I'm thinking is the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. But on the other side, this cryptos will not be to volatility because it will turn like fiat money the only difference they are now is the capability that you can do on it.
August 16, 2019, 03:03:01 AM
Bold and Innovative move by the Government of NZ. But, the real question arises How many employees will want to get paid in cryptos. Banks will still ask for Fiat and not cryptocurrency for Mortgage payments, Credit card payments, and Loan payments. I am also not sure whether local retailers are ready to accept cryptocurrency as a form of payment.
The success of this policy depends completely on the financial ecosystem. I am sure it is still based on Fiat. Until it gets updated, I do not foresee a success.
At least they are starting from somewhere, it may not be easy right now or have any major effect as you re right that people would still convert their cryptocurrency into fiat because of the lack of places to spend the crypto since we still have very low and few merchants accepting it, and until major merchants are accepting crypto, before they can really enjoy the benefit of it.The success of this policy depends completely on the financial ecosystem. I am sure it is still based on Fiat. Until it gets updated, I do not foresee a success.
For now, I think they will just enjoy the benefit of their salary increasing when the price of bitcoin increases, but what I still do not understand from their clause is that of the particular chosen currency is pegged to their own personal currency and I don’t know how possible that may be, well, let them implement it first and we will see how everything goes, maybe other countries will take turn after them also.
August 15, 2019, 05:46:37 PM
It would probably be a better idea for you to take a 50/50 ration. I don't really see how this solves anything since you can just buy bitcoins within hours of getting your paycheck.
A better thing would be if a company started paying people in their own currency or the government created its own currency. Perhaps a stable coin based on the country in question local currency value and then it will simply be a digital version of it.
A better thing would be if a company started paying people in their own currency or the government created its own currency. Perhaps a stable coin based on the country in question local currency value and then it will simply be a digital version of it.
August 15, 2019, 05:37:19 PM
For now, I don't want my salary to be paid using bitcoin or altcoin. Although basically I really want to, my reason is because, in my country. Bitcoin and altcoin cannot be used as a means of payment
So what? You can always exchange the amount that you need and pay with it but hold the rest.
I would love to get paid in bitcoin because I like to hoard it and having it would help me to spend less and save up. It's sometimes hard to make yourself dedicate some money to an investment but getting paid in an investment would fix everything
August 15, 2019, 05:35:54 PM
In New Zealand, from September 1, people will be able to get paid in cryptocurrency!
This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
Crypto currency is volatile,for me i like to get paid in crypto because there is a chance to have a higher salary if the price goes higher but if my salary is just enough for my daily needs,i think getting paid in crypto currency is not good. It depends on the situation. This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
August 15, 2019, 04:46:40 PM
New Zealand is having the option to pay with crypto other than of fiat if they will accept it IMO. Knowing the fact that not all of them are with crypto or even totally know crypto, it is not fair for everyone. Thus, giving them an option which one will it gives a fair treatment to the people in New Zealand.
I love this change and this country is really adopting crypto as it looks helpful in the future,
I love this change and this country is really adopting crypto as it looks helpful in the future,
August 15, 2019, 04:22:40 PM
Would you like to get paid in cryptocurrency?
I've heard similar things discussed over the past couple of years, and the exact same question asked numerous times.No, I wouldn't want to get paid in crypto. Not unless the items in my local supermarket are priced in bitcoin; not until my landlord accepts rent in bitcoin; and not until I can pay my utilities and phone bill in bitcoin. Certainly not unless bitcoin's volatility goes down a lot. With the price swings I've seen since I've been following bitcoin, it would be more risk than I'd be willing to bear to get my paycheck denominated in anything crypto. It would be so easy to lose purchasing power within hours of getting paid.
Don't know how this is going to play out in New Zealand, but best of luck to anyone who takes advantage of it. It might be attractive to receive part of your pay in bitcoin, just as an investment akin to contributing to a retirement plan, but I'd want the majority of it to be in fiat. I would not want to get paid and then be unable to spend my money immediately at Starbucks or whatever, which would be pretty damn hard if all I had was bitcoin.
August 15, 2019, 04:03:38 PM
Please can you provide a link to proof your claim above because this is the second time I have read about this same issue in New zealand but there is link to confirm whether or not all these claim that new Zealand will soon Start paying employees salary in bitcoin.
If am an employee in New Zealand I will accept payment in crypto currency.
If am an employee in New Zealand I will accept payment in crypto currency.
August 15, 2019, 03:03:59 PM
Would you like to get paid in cryptocurrency?
i dont agree if i get paid for my salary in cryptocurrency cause i think cryptocurrency have not stable value and I think this can be a problem if the salary is paid with cryptocurrency 
August 15, 2019, 01:16:20 PM
In New Zealand, from September 1, people will be able to get paid in cryptocurrency!
This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
This permission applies only to employees, the established salary will be paid only at a fixed rate, but this does not apply to premiums and dividends. Freelancers and self-employed workers were not included in the permit.
The tax authorities of this country have set the condition that the chosen digital money will be pegged to one of the paper currencies (New Zealand dollar). So that this salary in cryptocurrency can be converted into a standard form of payment, and also vice versa, for paying taxes. Therefore, the employer needs to pay salaries to employees, only liquid cryptocurrency, tied to the rate of fiat money.
Would you like to get paid in cryptocurrency?
I knew that if a company ever want to pay bitcoin as a salary it would be at a fixed price since the company wouldn't have to worry about the price fluctuations.
But if I were to be ask if I wanted to accept bitcoin as a salary? I would still say no. since bitcoin is not yet accessible and accepted by most of the stores in my country
although there companies that accepts bitcoin as a payment the process that I have to go to in order to exchange bitcoin into fiat is not worth it. at the moment the only
upside I see about getting paid in bitcoin is that the price of bitcoin might rise after getting the payment.
August 15, 2019, 12:07:56 PM
Does Japan not the first? Which few years ago, japan legalized bitcoin and considered Bitcoin as a legal money on their country.
Btw, it's nothing to do who's first who officialy legalized Bitcoin on every country, as long as Bitcoin continue to grow and mass adoption too. Glad to hear this positive news for Bitcoin
Btw, it's nothing to do who's first who officialy legalized Bitcoin on every country, as long as Bitcoin continue to grow and mass adoption too. Glad to hear this positive news for Bitcoin
Yes it was Japan that first legally allowed wages to be paid with bitcoin, from what i know it was optional and both employer and employee would have to agree on it. The New Zealand deal appears to be more compulsory for the employer if the employee requests it (more socialist).
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