Topic: What if salaries were paid in BTC - page 4. (Read 1081 times)

That would be great actually, but how many people would want to accept bitcoin as a form of payment? First of all crypto currencies are very volatile. What if after receiving their payment the price crashes? They would regret accepting bitcoin. Secondly, I am sure they don’t pay their bills or rent using crypto. So they will have to eventually convert their payments to fiat first. They will lose some money due to fee and stuffs like that.  So why would they want to accept bitcoin if they eventually have to convert it to fiat? Wouldn't it make more sense to receive payments in FIAT first and then buy bitcoin with their savings?

This means that the wages a person receives will not have a fixed value if the salary is paid in Bitcoins.  Of course, this will greatly affect the economy of each country and can affect the circulation of money itself.

There are still many restrictions in a country so that bitcoin is difficult to make as an employee salary because there will be many factors making this difficult to do, a country has regulations so it must be fulfilled and must not be violated.
This forum is global so payment in the signature campaign I think is still very reasonable because here the majority is discussing bitcoin we will not take issue with it but people who don't know what's what then it becomes a problem for him.

Fiat is easier to use in an area, it must be easy to do anything with fiat while bitcoin is still difficult to reach in certain areas and there are still many who reject bitcoin.

it will not be a good experience for low paying job because Bitcoin has a  transaction fees who is around $1+ but when people get fiat money as salary directly in there hand  then he can use a properly without any transaction fees. but if people accept payment as Bitcoin So it will be a digital method but we don't know if it will be liked by everyone because everything has its fans as well as its haters. But as a Bitcoin user it would be much better for me and I have no problem accepting it

LOL, what are you talking about? If you can easily make such a profit then you can also use fiat currency and buy bitcoin for profit. You don't need to be paid in bitcoin to do that. What you say has nothing to do with us getting paid in bitcoin, what you say is about investing, and you can also invest using fiat.

What makes you sure that you will make a profit holding bitcoins within 3 to 6 months? And what do you rely on to be sure that investing in altcoins will give you 2, 3 times returns?

That will be very much interesting but how is it possible to use bitcoin to pay salaries of workers because it only 0.001% just imaginative figure of countries accepting bitcoin in the world so such thing will not happen for now and if it happened, it will be years to come and not now.

Actually when you convert to paper money immediately,you don't have any profit from the bitcoin.If you hold the same bitcoin for a period of 3-6 months, then you analysis the correct value of the same bitcoin.Surely you will get 10_20% of minimum profit from the same bitcoin.Even you can buy some valuable coin using your bitcoin salary.It will multiple your money to 2* or 3* of your income.This was main reason for the people to ask their salary in bitcoin as compared to paper money.

I pressed two buttons, and it cost me 35 cents to complete the transaction within three minutes. There are many individuals with significant financial resources who have grown weary of traditional banks. This is precisely why Bitcoin can be utilized as a means of payment for salaries, as there are numerous people with substantial funds who wish to avoid being involved in the complex systems, whether they are involved in illicit activities or are law-abiding citizens. Unfortunately, banks tend to disapprove of my attempt to transfer my money.

for some things, i think bitcoin is still quite difficult to use as a means of payment rather than just an investment asset, the discourse on bitcoin being used as a salary payment has been discussed in this article (https://www.theguardian.com/us-news/2022/jan/21/eric-adams-new-york-city-mayor-paid-cryptocurrency)

fees problem, bitcoin regulations in the country, and also fluctuations in bitcoin prices are the main points ^(reasons) why bitcoin is still quite difficult to make as a salary payment, even so bitcoin paid campaigns in this forum ^{(signature campaign)} are actually suitable as examples by countries that want to make bitcoin as a means of paying salaries ^{(to be honest paying salaries with bitcoin is not difficult at all)}

It will be the same once you converted it to paper money.  Since there are not so many merchants that accept Bitcoin in my place, I am converting my BTC to fiat money in order to pay for the bills and use it to add more financial support to my family.

If Bitcoin is used as salaries, as I stated, there will be a huge demand on the market and will result in increase of price of BTC.  But I believe such idea is too much for an employer since he have to buy BTC and distribute it to his employee when he can just pay them with fiat money and avoid the trouble of extra steps in paying his staff.

I get a lot of my income in Bitcoin and other crypto. But I see it no different than a salary even though I do not have a boss.

The only issue is having to learn how to not to spend it. Because it seems to me that spending a cryptocurrency like Bitcoin is so easy and efficient, that you might not notice when you start spending large amounts of BTC. Unlike with paper fiat money, BTC does not possess the quality of physically tangible value. But since spending is a good thing then that might make BTC into a strong positive force for the economy, if it were the global money standard and all salaries were paid in BTC.

Of course if the government accepted that, then the price of Bitcoin would skyrocket like in the past. We would see ridiculous prices.

The only way for this to be possible is if salaries were paid in BTC but were set in fiat or with some stablecoin. Otherwise salary negotiations would be a nightmare and the ever increasing price of BTC due to the surge in demand would make a lot of companies go bankrupt. Governments would also have to step in and apply regulations, a lot of them are likely to ban the use of bitcoin altogether.

On a more personal level I would rather get paid in something with more stability, the world economy is somewhat rocky as it is, no need to add more instability to anyone's life.

It entirely depends on what country we are talking about.  Some countries are of course much more conservative than others and wouldn’t even think of allowing this but others will be more open to it. For instance China wouldn’t even consider it, but I believe nations such as the United States would eventually be open to it. In fact I don’t believe there’s any laws against it right now?

Bitcoin is a digital currency that anyone can use as they wish but many may like Bitcoin and many may not like it.  So I think paying in Bitcoin would be forcing Bitcoin on everyone.  Which does not support Bitcoin. And on the other hand Bitcoin is still restricted in many countries so it will take a long time to spread globally. But the topic of salary in Bitcoin is very exciting for me because I know about the benefits of Bitcoin.  And I get paid in Bitcoin every week by signature campaign 

But this all depends on which government they are working under, or will I say it's based on what kind of employment they have with the government, because not everyone who is under the government pay check is living above a country's poverty level.

All civil servants are receiving their salary from the government, no matter the level of which they have attained since they are being classified grade by grade, and that's how their salary defers. Here in my country, with just my weekly signature earnings, I can consider myself more financially stable than most of the government employees out there. My point is that not all who are under the government are rich. Even if they are Rich, Bitcoin is not only for the poor. Rich people also want more if we are to look at it as a means of acquiring wealth. Most of them also want to try out new things and, at some point, avoid the public's eyes in some transactions that they will want to perform.
 
I agree with you that not everyone needs Bitcoin like we do here, but those above-mentioned points alone do not restrict anyone from wanting to own Bitcoin. We have those who were financially stable and famous even before Bitcoin, but we all have them right now, bagging more Bitcoins than we are doing. Owning Bitcoin is a choice that anyone has to make for themselves; either you want it or you turn a blind eye.

Bitcoin is growing worldwide every day. Virtual currency is censorship-free and central bank-free. Who wouldn't want that? You're right: El Salvador is leading. The first nation to legalize Bitcoin. "Crypto-paychecks" would be liberating if salaries were paid in Bitcoin. What a financial freedom leap! As we advance toward this crypto-future, we must address complex regulatory and security challenges. Im excited about the Bitcoin shift, but I know the road to crypto-utopia will be long and difficult. That makes it exciting, right?

I would really like to get paid in BTC if it were a preference or may be get my salary in 50% fiat and 50% BTC.
That way I would get the flexibility to use both at my convenience but yeah the sad reality is that the governments are far from making this a possibility.
Although are jobs that do pay in BTC but our day to day jobs don't have that option as of yet.

It would be really nice if salaries were paid in btc. For those who wants anyways. Not everyone I think, would want to be paid for their services in bitcoin.
While it’s safe to say the popularity and perhaps usage is regularly increasing, I don’t know about governments of the world paying their employees later in the future with bitcoins. I don’t see that happening. Paying employees with CBDCs later in the future seems more likely than paying in bitcoin.

Paying middle to lower income earners in bitcoin would mostly have them swapping the bitcoins to whatever fiat currency being used in their locale. I don’t think a low income earner would favor being paid in anything except his local currency that he can immediately use.

OP, I think the reason why some people have not accepted to use Bitcoin is because it is not a stable currency like fiat, so even if wages or salaries are paid in Bitcoin, most people will sell it back to fiat immediately they get paid. The reason is that they do have an urgent need to spend money, so they will not hold the Bitcoin they received from Pay; they will just sell it off. It really did make sense to some people, while to many people, it doesn't. Your friend is only living in imagination because Bitcoin cannot be used to pay a salary unless the government has finally approved of Bitcoin being used as legal tender.

Personally, I'm not depending solely on my salary; I save a decent percentage every month, which is used towards my savings. I believe that I've got enough money to get me going for at least a year without working, so I'm not worried about not making ends meet just because Bitcoin's value has fallen. Thus, I could possibly afford to get paid in Bitcoin if I preferred.

However, I'd rather not have a volatile salary; what's the point anyway? You can't directly spend your Bitcoin towards your daily needs unless you're using an exchange such as Binance by funding their debit card, something that we all know is frowned upon. A stable Bitcoin also wouldn't make sense; use stablecoins if that's what you're after. Get paid in fiat, and then create an investment plan depending on how much money you can afford to set aside for this purpose.