Topic: What if salaries were paid in BTC - page 9. (Read 1081 times)
First what you should put in consideration is for it to be legalized and after that government may put it in consideration to start implement the use of cryptocurrency as general payment system to their workers. Do not go into blind argument knowing too well such country has not adopt bitcoin yet whatsoever may be the reason for argument I don't think you should go into it. Besides this could be a challenge task for any government to basically stops using their currency to pay workers than other digital currency, private sector might be able to use it but not government because government they said is Anti-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
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 mean I wouldn't mind receiving Bitcoin as my salary, actually, it's great since I could easily invest my salary in Bitcoin, but there might be some complications for other people since its possible that they are not familiar with Bitcoin but their salary is bitcoin, also the volatile market price is also a thing here because right after they received their salary it might be lower than the promised salary. For me, bitcoin really is not yet suitable to become something like a currency in my opinion bitcoin is great as an investment just because of the volatile market price and its potential because of the limited supply. The government won't easily allow it because we have fiat currency for sure, but there are some governments that support Bitcoin so maybe it is possible in some countries if they really wanted.
Still, if it is going to happen it is going to be a big boost to Bitcoin since it just means that we have already adopted Bitcoin I dont think the government is going to use Bitcoin since they surely used fiat money instead of Bitcoin but chances are big private companies that support bitcoin could easily implement this idea.
If that happens, bitcoin investors like us will love it, but for people who don't invest in bitcoin and they like stability, I don't think they will. Moreover, to do that, bitcoin needs to be legalized and regulated by the government because how can the government manage and collect taxes if companies pay salaries in bitcoin? So, I don't think that's possible. Not to mention its volatility, do you want your salary to depreciate 10% or 20% after a day? I bet a lot of people don't like it.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
I thought 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
That's possible but still, there's a problem that remained existed, volatility remains a significant issue with Bitcoin, and receiving salaries in a highly fluctuating currency might expose employees to financial risks from their up and down value. It could complicate taxation and other legal aspects, creating uncertainties for both employers and employees. I start thinking about the governments that might possibly be hesitant to allow fiat to be entirely replaced by Bitcoin as it could lead to difficulties in monitoring and regulating economic activities.I thought 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
So for now, let's accept that Bitcoin is good for alternating for fiat but not totally a replacement for fiat.
Yes, that's likely will happen depending on which country it is.
A friend of mine in our discussion today about Bitcoin was insisting that salaries and wages be paid in Bitcoin in some countries.
This will only be possible in countries that bitcoin is accepted, but it’s impossible in countries that bitcoin is ban. Also in countries that bitcoin is accepted, they shouldn’t make it mandatory for everyone, they have to make it optional for people to choose between bitcoin and their local fiat currency, nobody should be forced to accept bitcoin, because am sure some people will still prefer to be paid in their local currency than in bitcoin, most people that don’t about bitcoin will prefer to accept local currency, because they believe it will be easier for them.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
Government won’t allow bitcoin to replace fiat currency, they will do everything possible to stop that, but we also are not expecting bitcoin to replace fiat currency because that’s not the purpose why it was created, bitcoin was created just to serve as alternative currency, so all what we want the government to do is just to accept bitcoin and we are not dragging to replace their fiat currency, all what we need is that bitcoin should be allowed to be spent freely, incase you visit a store and you not having fiat currency, you can pay for things you bought with 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
This level of adoption will be a big boost to the bitcoin ecosystem, I think it will be more easy in countries like El Salvador that accept bitcoin as legal tender You have to consider the risks (volatility) of bitcoin. It may be very appealing to you because you have a sound background in bitcoin but it will be very confusing for others who are crypto noobs. If you receive your total salary in bitcoin, how will you pay your bills since bitcoin isn’t yet a legal tender in most countries, you still would have to covert bitcoins to fiat. 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
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
Well your friend is not mistaken, I know that even here in Italy in the Bitcoin valley in Rovereto some employees get paid in bitcoins and this has also been documented on a television service that was broadcast in Italy. Obviously this can make sense if there are many points of sale in the city that accept Bitcoin, in practice a circular economy is created.
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
In my opinion, fiat will never be replaced by Bitcoin but there's a chance that sooner Bitcoin will be used as legal tender where you can buy anything through Bitcoin. For now, since Bitcoin is so volatile, it will be difficult for some countries to accept this as legal tender but there are some establishments and businesses already that accept Bitcoin as payment and it should be a good start for Bitcoin adoption. 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 this is going to be way easy for counties which are bitcoin friendly but the big question is this, will it bring any positive change to the country or will it help the staff salaries get to them faster? A country that sees more value in bitcoin than thier local fiat will consider doing this but there will be big challenges because not everyone will have access to smart phones to make some bitcoin transactions in this case, I think majority of the citizens of the particular country will kick against it because there so many advanced people who may not be smart to have control of their keys.
If some of the employees want their salaries paid in BTC and the employer can provide that for them, then it is a good idea, but i don't think that BTC should be the first choice currency when it comes to payment of salaries. Most workers spend their salary as soon as they get it and they only send some of it into their savings account, so if you pay them their salaries in BTC and they have to immediately liquidate it, then it is better to just pay them in fiat.
What i support is for BTC to be an option for payment of salaries, and there will be pro Bitcoiners who will like to use that, but personally i will not like to receive my salary in BTC, i will prefer to receive my salary in fiat and buy BTC with a part of it and the rest to foot the bills and for other purposes.
What i support is for BTC to be an option for payment of salaries, and there will be pro Bitcoiners who will like to use that, but personally i will not like to receive my salary in BTC, i will prefer to receive my salary in fiat and buy BTC with a part of it and the rest to foot the bills and for other purposes.
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.
It depends on the laws/regulation on the country. In my country, you can't use Bitcoin to pay for goods or services. It can be used for an investment only. So, there is no way to pay the wages/salaries with Bitcoin. The owner of the company will be imprisoned and pay a fine if he/she forces to pay the salaries/wages of the employees with Bitcoin. But in the country that Bitcoin is legal for any purpose (including for payment tool), a company may consider to pay salaries/wages with Bitcoin. For example, if the company is located in El Salvador. I was of the opinion that the government will not allow fiat to be replaced by 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
Those countries that dislike Bitcoin won't allow it for real. But to those free countries, these companies can do whatever they want, if the wages are paid in Bitcoin then I don't think they can have any sense of being mad at them unless they're too strict at all.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
If you have been long on this forum, it is no longer a thing that there are services that have been paid in Bitcoin. And I have read it before that there are companies that do really pay their employees with Bitcoin.
Some company may give their employees an option what to do receive, cash or 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
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
MicroStrategy pay their board of directors 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
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
That will be a positive development for the bitcoin ecosystem, but there is a significant likelihood that the government will not allow it to happen anytime soon. Even if they can't control bitcoin, they won't want anything to do with promoting it, even if the people have started using it.
It's not a bad notion if your friend wants his income in BTC, but it will rely on the company he works for; nevertheless, waiting for the government to do so is a pipe dream that will not come true anytime soon or in the future. I as an individual who knows and appreciates what I stand to gain from being paid in bitcoin, will want that to happen, but individuals who aren't well-versed in bitcoin will lose interest if this is done without a thorough understanding of the bitcoin market on their part because of its volatility.
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
For private companies or employers then this could be applied but of course it would really be still varying or depending on countries laws and regulations on which if ever a certain employer would really be adding that kind of option then for sure they would really be trying out to clear things first because we know that going against with regulation would really be putting your company or business to risks on getting closed specially if Bitcoin or crypto was prohibited then you had made out the wrong decision.If you do own a company and sees up that the place you are operating are still in neutral when it comes to cryptocurrency then you couldI 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
always apply on having that option on giving salary or paycheck in Bitcoin but of course you would be still needing to consult out first if your employees are really that willing to accept Bitcoin
knowing that price and value is volatile on which some people wont really be tending on accepting something like this and would rather preferring on accepting fight for sure.
Once I thought it would be stupid cause then again bitcoin's very volatile and it could you know, decrease the value of the people's pay, especially since a rendition of this thread was made back in the past. Now I don't think of it as deranged anymore cause a lot of people in this industry has stopped receiving payments in stablecoins and are happily accepting money in bitcoin and other coins. I think this is great cause it drives usage and adoption, and in my case, it became a conversation starter that lead to some of my acquaintances becoming involved with the industry too. So while the threat of losing some of your money is still there, the overall benefits it give in the adoption department outweighs the risks by a longshot.
The world is evolving, truly. I think it's going to be a long walk before we get to the point were Bitcoin will become a major channel for the payment of salaries, globally. It may happen, but considering the poor nature of electricity supply in the world; it will take a long time to achieve. Electricity is the life wire of the internet. Bitcoin can't be accessed without the internet. We all can see what's happening with that. Yes, I know and acknowledge that already companies/businesses are paying in Bitcoin but that's just a very minute population. These companies doing that shouldn't be a point of reference to use Bitcoin payment option because both scenarios aren't 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.
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
The idea seem nice but I don't think it will be possible considering the fact that not everyone in the country have knowledge about Bitcoin and how it works and secondly most persons barely knows how to operate the internet very well let alone managing a Bitcoin account, that means hackers will deal with people mercilessly, also considering the gas fee of sending Bitcoin to millions of people as a payment is very high so there is no way any employer will consent to using Bitcoin as a means of payment, so to me is not a welcome idea considering those fact
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.
If this was done on a global scale it will be a positive for Bitcoin. It could also open the door to Bitcoin being valued of itself or by the amount of work one puts in to get sats instead of valuing it against fiat currencies.
We are a long way away from this happening and people being open to actually getting paid in Bitcoin without the need to convert it to local currencies inorder to spend it.
We are a long way away from this happening and people being open to actually getting paid in Bitcoin without the need to convert it to local currencies inorder to spend it.
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