I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .so what is your take on this will it be a positive move on the Bitcoin ecosystem or not
This got me silent for some seconds. This is a very good move if the company should adopt bitcoin for bitcoin payment of salaries, they will get to spend through Bitcoin, live the life they want all on chain transactions without ever touching the fiat again and bitcoin been a global currency and censorship resistant, it will ease the pain of boardless transactions without anyone stepping on your toes, it will also expose employees to bitcoin, how its been use and done and, many more.
However, there is a major difficulties when it comes bitcoin for settling payment for workers, many of them will reject the option of receiving bitcoin for payment because you can't keep bitcoin for 30 days without having price fluctuation, it may go up or may come down, it is 50:50. Many salary earners love to keep their money into saving, they wouldn't be happy if they left for $100 change to $80, that is about $20 loss with 20% reduction in values which is possible in monthly frame, it will be a disaster for those who hold more than that but I guess they will be happy when there is 20% increase in price. I think many will not accept this option of bitcoin for work.
Furthermore, when bitcoin are been used to settle workers, they will have to sell it to buy basic needs and pay bills, the government also collects tax when you receive bitcoin as payment which is around 10% to 30%, that is like working and giving everything to the government when it is possible to have static of 10% when you don't earn above more than $20k, instead of converting bitcoin to fiat to pay unnecessary expenses and tax, pay banks tax, why not receive everything in fiat and save the headache. After that, anyone that wishes to buy bitcoin can do so from their salaries.