Topic: What if salaries were paid in BTC - page 8. (Read 1106 times)
Even if you receive your salary in bitcoin, you still need to convert them to fiat afterwards, as fiat is still the main currency and is still being used in all daily needs. This idea sounds interesting and appealing to us at first, but over time it becomes a hassle that we want to get rid of. Because besides the inconvenience that we still can't use bitcoin for our daily needs, bitcoin price fluctuations are also another concern. What if we are in a bear season and bitcoin value is volatile? Would someone be willing to sell their bitcoin when it drops more than 10% or 20%?
The main currency used around the world is still fiat. This would only make sense if the adoption of Bitcoin increases exponentially, such that you can easily use Bitcoin everywhere and in your everyday life. Otherwise, paying salary in Bitcoin would only complicate things and introduce extra steps to get people to convert their Bitcoins into fiat again. This would be just like paying your salary in USD when you're in Europe. No one would appreciate that.
BitPay has a service which does this however.
BitPay has a service which does this however.
CashApp I have read actually allows for this, they take your direct deposit and then transfer it directly into BTC into the BTC wallet address of your choosing, pretty cool! Nice job Jack Dorsey 👏
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
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
It will have a positive effect on bitcoin for sure. However, this will never be easy to implement as well as majority of the workers doesn't want to have a complicated ways of receiving their salaries except for the checks, bank transfers, and other traditional banking transactions. People are comfortable to this kind payroll. Though, I believe there are some companies which is closely associated with crypto have their employees make an option of receiving full salary in bitcoin (we can look it up in google).
And, I have to agree that majority of the government doesn't want to change their currency into something that they don't have a control over with. So, fiat will be here to stay and will continue to co-exist with alternative currencies and cryptocurrencie.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
Is your friend want his salary to be paid in Bitcoin?There are private companies already paying their employees in Bitcoin. But we can't expect the Government to push this idea on their agencies since fiat or their CBDC are what they recognized.
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
Of course if this happened it's good for Bitcoin for awareness and adoption specially for people who don't know its existence yet. Bitcoin can work as an alternative but the Government will not allow Bitcoin to be the main currency. A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
Yes sure, but because all payment countries are currently dominated by fiat, those workers who are paid with Bitcoin will get in problems when buying in what they need. there will be not a problem if some stores or shops accepted Bitcoin also. In fact, today, not all stores accept Bitcoin, only a few, and it also happens with the country that accepts Bitcoin as payment like El Salvador. And that situation could be affect in bitcoin price if all employees are salaried on the same day. 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
It's a company which already run an initial public offering? surely this company will get audited and there's a financial report about wage distribution, the government will know if the company is using Bitcoin to paid the employer. So it's not good idea and possible of getting trouble.
But if it's just a small business or freelance, it seems to be safe since the government will not care about small money. It's similar like this forum has a Chinese local board while Bitcoin is permanently banned there.
But if it's just a small business or freelance, it seems to be safe since the government will not care about small money. It's similar like this forum has a Chinese local board while Bitcoin is permanently banned there.
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I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .
Of course, but until now several countries have not finished their research steps so there are no clear laws. In that opportunity it can allow fans to implement bitcoin on their business interests until it seems that bitcoin begins to keep pace with the level of use of fiat in that country.I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .
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so what is your take on this will it be a positive move on the Bitcoin ecosystem or not
That is one step to support bitcoin works, of course it's a positive value for the ecosystem but not necessarily from another point of view. so what is your take on this will it be a positive move on the Bitcoin ecosystem or not
I'm already receiving my salary in crypto, just not in Bitcoin. It's not something too special, to be honest, I can't just use it, I'm withdrawing every time to pay rent, buy groceries, and all other stuff. With Bitcoin, it would be mostly the same.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
It started years ago, not recently and it is not new.Japanese company to start paying employees in Bitcoin
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I was of the opinion that the government will not allow fiat to be replaced by Bitcoin .
Governments surely don't like the trend but if they can not prohibit Bitcoin in their nations with their laws, regulations and enforcement, companies and citizens legally pay and receive salary in Bitcoin.Quote
so what is your take on this will it be a positive move on the Bitcoin ecosystem or not
It is good way to increase Bitcoin adoption. Because if a company can do it well, their staffs will receive Bitcoin monthly and in many months. So they will have to use Bitcoin at least to cash out. The more exposure and experience they have with Bitcoin, they will more likely to use Bitcoin naturally.The article in 2017 for a Japanese company writes that that company staffs have two options and were not mandatory to receive all salary in Bitcoin.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
Several people around the world are already getting paid in bitcoin, some of them even 100% of their salary, others just a portion. Of course, in general, governments don't like bitcoin but unless they declare it illegal then there is nothing they can do if someone chooses to be paid in bitcoin and the company he works for is ok with doing that. I mean, you can also get paid in pizzas if you want to. 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
bitcoin price is volatile maybe for now it is not so practical. also maybe government will not allow that, and actually we always can buy BTC from local exchange. what I really hope is there are more ads networks that using bitcoin. For freelance app developers or bloggers, if we can recieve payment in form of BTC then it will be good because the transactions will be more secure and no one can freeze our funds. I hope there are more new project about cryptocurrency ads networks. for now i only know cointraffic.io that still exist.
To the Bitcoin ecosystem, it might be a positive move because it means adoption. It might also push the price up because companies would then accumulate Bitcoin to be able to pay their workers. However, on the part of the workers, it's going to be a double-edged sword. Especially if you are a worker who is fully dependent on your salary, there's no way you can make the most of Bitcoin's volatility all the time. There will surely be times when you will be forced to convert your coins at a much lower fiat value. We need to remember that the world out there is not using the Bitcoin standard.
There must be a reason why your friend told you about it, but you haven't stated it in your story OP. No matter what, big companies or even countries won't do this unless they are like El Salvador, but right now it is difficult to do this because they are already used to physical money, and for sure there will be a bunch of people that are not technologically inclined, which will make it hard for them to exchange it for their own currency.
How do you imagine salaries getting paid in BTC? People asking to be paid in BTC and their employers obliging? Or employers just leaving no option for their workers? Because if its the latter, then people would be just dumping BTC on the market, which would crash Bitcoin so hard that it would stop being a viable currency.
It means that different people got different opinions. Some people intend to stay with what they have now which is in fiat, traditional way. We can't force them to use Bitcoin.While on the other side, some people already know Bitcoin and are willing to accept Bitcoin for their salaries, we must respect it also.
That's why I really love to see a lot of options when you receive your salary. More exposure to Bitcoin will help Bitcoin ecosystem adaption but people must learn how Bitcoin works.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
I think it would be quite hard to tell whether giving people salaries using bitcoin would be beneficial for a country. The main concern is that bitcoin's price fluctuates a lot and making it unsuitable as a stable form of salary and I think that not all countries have officially accepted bitcoin as a digital currency yet.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
Perhaps, in the future such a scenario like that could happen but I don't believe they will completely replace fiat currencies. For decades people have been using fiat currency to purchase goods and services and it remains an essential part of our financial system.
Let's put this point in a different perspective, let's imagine that bitcoin is already legal in many parts of the world, double what it is currently, so now the problem of salaries being paid in bitcoin would be its volatility, but said instability is compared both by demand as well as by fiat currencies, that is, even though this asset is decentralized, we value it according to the exchange rate of a centralized currency, so I think that if we take Taking this into account, the question of whether or not a salary can be paid in bitcoin would change, since payments could be made in bitcoin but maintain a standard value such as the dollar and simply cancel according to how the rate was found.
But of course, this could be taken as an option for the employees, where they can decide whether they want a payment in this currency or prefer the traditional one, since as you indicate, there are many who still do not trust bitcoin and despite the fact that the government accepts it, the recession of those who do not agree continues... so for this to be possible in the future, they will have to try to please both parties.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
When bitcoin became legal tender on a global scale, this type of discussion about bitcoin being used to pay salaries and wages would have made sense to have. At that point, we could have started to consider whether it would be appropriate for the government to offer its citizens the option of receiving salaries and wages in bitcoin or not. 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
Considering that Bitcoin hasn't been widely used. This makes it difficult for something like that to start happening or for us to reason why the government should have our salaries and wages paid in bitcoin.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
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
When bitcoin became legal tender on a global scale, this type of discussion about bitcoin being used to pay salaries and wages would have made sense to have. At that point, we could have started to consider whether it would be appropriate for the government to offer its citizens the option of receiving salaries and wages in bitcoin or not. 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
Considering that Bitcoin hasn't been widely used. This makes it difficult for something like that to start happening or for us to reason why the government should have our salaries and wages paid in bitcoin.
In very few companies this have been followed, and I'm not sure of the company names. Even in those companies everything is paid depending on the willingness of the employee and not mandatory. For people who move specific amount of their salary into bitcoin investment can prefer to receive in terms of bitcoin and the necessary amount alone can be converted to cash for their life needs.
There is a controversy that the person could get additional or less salary depending on the varying price of bitcoin. According to me, salary needs to be paid equivalent to the market USD value received earlier based on current day's market value. Further it is the employee's decision whether to hold or cash it out. This is really appreciable effort, but not many support this.
There is a controversy that the person could get additional or less salary depending on the varying price of bitcoin. According to me, salary needs to be paid equivalent to the market USD value received earlier based on current day's market value. Further it is the employee's decision whether to hold or cash it out. This is really appreciable effort, but not many support this.
How do you imagine salaries getting paid in BTC? People asking to be paid in BTC and their employers obliging? Or employers just leaving no option for their workers? Because if its the latter, then people would be just dumping BTC on the market, which would crash Bitcoin so hard that it would stop being a viable currency.
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