What would happen if employees got paid in Bitcoin? Share your opinions! - page 2.

micky123

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Quote from: Elwar on August 19, 2015, 04:00:49 AM

Quote from: micky123 on August 19, 2015, 03:58:24 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

I tried to get HR to pay me in Bitcoin in my organization. Should not be too much of a problem since the company accepts Bitcoin as a payment option. However, they laughed off the suggestion and told me that it would be an accounting nightmare for payroll and advised me against it as the government would not take too kindly to it as well. Apparently, the government only accepts taxes which are deducted at source in fiat. Methinks it was laziness on the part of payroll which led to the canning of my idea, they clearly did not want to be too burdened with additional work citing short staffing! Angry

Couldn't you use BitWage?

Interesting concept, i am sure they were not around at the time i asked for this (about a year ago i suppose, it was). How reliable are they? I might re-consider asking for part of my salary in BTC, considering the volatility. With the number of Bitcoin scams going around, i am a little paranoid about stuff like this. Have you or anyone else used their service. What do they mean by "We put bitcoin, local currency, and Gold in your address the next day after deposit", so they put regular fiat, bitcoin and gold in the account? Gold of course should be in the form of etf or something similar, how much Bitcoin and how much fiat do they put into the account? Will they accept part payment of salary in Bitcoin, i doubt that is the case. Also, payroll will not accept splitting of salary into two bank accounts, which can be another headache for me. This service would work well for me, because i convert a small part of my salary into Bitcoin anyhow... the only issue is i buy btc at a premium from LBC as there are no reliable exchanges in my country.

zetaray

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If everyone is pay in bitcoin, there won't be enough bitcoin to go around. You know how much CEOs receive annually? Grin

Xialla

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/dev/null

Quote from: Kazimir on August 19, 2015, 04:03:50 AM

I receive part of my salary in BTC. Works absolutely fine. Obviously it helps that in my area, I can pay quite some of my daily expenses with it.

hello time traveler, welcome to the past..from which year you come from?

ahh now seriously;) how did you manage to pay daily expenses with bitcoin? I would like to do also, but I don't see any possibility. can you share little bit about? You are some freelancer renting flat in house of tech. geek or something like this?

ralle14

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Shuffle.com

that would be awesome if my monthly salary is in bitcoin
more ppl will be exposed to the bitcoin world you know

Kazimir

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I receive part of my salary in BTC. Works absolutely fine. Obviously it helps that in my area, I can pay quite some of my daily expenses with it.

Thekool1s

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Change is in your hands

Quote from: MoorChael on August 19, 2015, 03:54:53 AM

Quote from: Thekool1s on August 19, 2015, 03:30:08 AM

Quote from: UMP Fourty 5 on August 19, 2015, 03:08:14 AM

Quote from: Thekool1s on August 19, 2015, 02:51:04 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

Not much will change in developing economies, As education is still a problem, You cant expect a farmer in a 3rd world country to accept bitcoin let alone use a smartphone with internet on it, Unless these people cant accept true bitcoin acceptance cant be reached, But it can surely increase the price of bitcoin, And there would be i think huge fluctuations on paydays as companies would buy btc and it would make huge changes in price. And when people start to use it by buying stuff and eventually it will be converted to fiat so price would go down.

Its a complicated situation.

Let alone farmers, how about about major markets, like Walmart, target, etc. If they started to accept and pay their employees in btc, It'd benefit both the BTC community and the markets itself.

I dont think it will make much difference to price as the end result is btc is still being converted to fiat, we may see a rise upto 2000$-5000$ max as constantly btc will be converted to fiat to pay for resources. Most likely developed countries will be the first to become full bitcoin based but 3rd world countries would still take time. But you dont expect big businesses to hold btc which will likely cause more dumping. Its very complicated to imagine this scenario.

Do you think that the BTC is useful only in developed countries?

Not Useful, Its currently hard for people to understand that something so valuable which we cant even hold in our hand exist is some virtual world, Now try explaining that to a person who is uneducated who cant use internet or smartphones properly. those who think internet is world of scams etc. Thats why i said that, Btc is useful in only developed economies. You can hardly find a store in developing economies where you can buy daily things.

It will take time, Just like it took internet time to become a thing of everyday's use.

UMP Fourty 5

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It's that we need more people to start selling stuff for BTC, and stop the thought of "The price might go down and I'd loose it all"

Elwar

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Viva Ut Vivas

Quote from: micky123 on August 19, 2015, 03:58:24 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

I tried to get HR to pay me in Bitcoin in my organization. Should not be too much of a problem since the company accepts Bitcoin as a payment option. However, they laughed off the suggestion and told me that it would be an accounting nightmare for payroll and advised me against it as the government would not take too kindly to it as well. Apparently, the government only accepts taxes which are deducted at source in fiat. Methinks it was laziness on the part of payroll which led to the canning of my idea, they clearly did not want to be too burdened with additional work citing short staffing! Angry

Couldn't you use BitWage?

Elwar

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Viva Ut Vivas

Quote from: Thekool1s on August 19, 2015, 03:33:00 AM

Quote from: Elwar on August 19, 2015, 03:28:07 AM

A lot of people want other people to get paid in bitcoins.

But won't go ahead and switch over themselves. You have the option. What are you waiting for?

*insert "I can't buy groceries with bitcoins in my area" here*

yup this is the major cause and because of bitcoin price fluctuations many businesses instantly sell their bitcoins which is no good for bitcoin in the first place. Its like no use to accept bitcoin as it will literally make no effect until businesses start to hold btc.

If I was in the US I could live off of so much more than I do in Europe.

The fact that you can buy groceries at Whole Foods, Target, CVS, Kmart, etc. And you can use Bitcoin to pay for your food at Applebees, Chilis, Dominos, Burger King, Charleston's, Cracker Barrel, Cold Stone Creamery, IHOP, Logan's Roadhouse, Morton's, Papa Johns, Red Robin, Saltgrass, Steak n Shake, Texas Roadhouse, TGI Fridays, Tony Roma's would allow me to go quite a while without needing dollars.

And since you can buy just about everything else online at Amazon and e-bay. There is very little you can't buy online. Movie tickets at AMC theaters, Fandango.

Home Depot, Lowes, TJ Maxx, Cabela's, Sports Authority, Toys R Us, Best Buy, Dell...etc.

There is little excuse in the US to not get paid in bitcoins. Or at least part of your paycheck if your employer allows for direct deposit to different accounts.

micky123

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Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

I tried to get HR to pay me in Bitcoin in my organization. Should not be too much of a problem since the company accepts Bitcoin as a payment option. However, they laughed off the suggestion and told me that it would be an accounting nightmare for payroll and advised me against it as the government would not take too kindly to it as well. Apparently, the government only accepts taxes which are deducted at source in fiat. Methinks it was laziness on the part of payroll which led to the canning of my idea, they clearly did not want to be too burdened with additional work citing short staffing! Angry

MoorChael

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Quote from: Thekool1s on August 19, 2015, 03:30:08 AM

Quote from: UMP Fourty 5 on August 19, 2015, 03:08:14 AM

Quote from: Thekool1s on August 19, 2015, 02:51:04 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

Not much will change in developing economies, As education is still a problem, You cant expect a farmer in a 3rd world country to accept bitcoin let alone use a smartphone with internet on it, Unless these people cant accept true bitcoin acceptance cant be reached, But it can surely increase the price of bitcoin, And there would be i think huge fluctuations on paydays as companies would buy btc and it would make huge changes in price. And when people start to use it by buying stuff and eventually it will be converted to fiat so price would go down.

Its a complicated situation.

Let alone farmers, how about about major markets, like Walmart, target, etc. If they started to accept and pay their employees in btc, It'd benefit both the BTC community and the markets itself.

I dont think it will make much difference to price as the end result is btc is still being converted to fiat, we may see a rise upto 2000$-5000$ max as constantly btc will be converted to fiat to pay for resources. Most likely developed countries will be the first to become full bitcoin based but 3rd world countries would still take time. But you dont expect big businesses to hold btc which will likely cause more dumping. Its very complicated to imagine this scenario.

Do you think that the BTC is useful only in developed countries?

UMP Fourty 5

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Activity: 15

Merit: 0

Quote from: Elwar on August 19, 2015, 03:28:07 AM

A lot of people want other people to get paid in bitcoins.

But won't go ahead and switch over themselves. You have the option. What are you waiting for?

*insert "I can't buy groceries with bitcoins in my area" here*

I use bitcoin to buy stuff at the slightest chance I get to.

Thekool1s

legendary

Activity: 1512

Merit: 1218

Change is in your hands

Quote from: Elwar on August 19, 2015, 03:28:07 AM

A lot of people want other people to get paid in bitcoins.

But won't go ahead and switch over themselves. You have the option. What are you waiting for?

*insert "I can't buy groceries with bitcoins in my area" here*

yup this is the major cause and because of bitcoin price fluctuations many businesses instantly sell their bitcoins which is no good for bitcoin in the first place. Its like no use to accept bitcoin as it will literally make no effect until businesses start to hold btc.

Thekool1s

legendary

Activity: 1512

Merit: 1218

Change is in your hands

Quote from: UMP Fourty 5 on August 19, 2015, 03:08:14 AM

Quote from: Thekool1s on August 19, 2015, 02:51:04 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

Not much will change in developing economies, As education is still a problem, You cant expect a farmer in a 3rd world country to accept bitcoin let alone use a smartphone with internet on it, Unless these people cant accept true bitcoin acceptance cant be reached, But it can surely increase the price of bitcoin, And there would be i think huge fluctuations on paydays as companies would buy btc and it would make huge changes in price. And when people start to use it by buying stuff and eventually it will be converted to fiat so price would go down.

Its a complicated situation.

Let alone farmers, how about about major markets, like Walmart, target, etc. If they started to accept and pay their employees in btc, It'd benefit both the BTC community and the markets itself.

I dont think it will make much difference to price as the end result is btc is still being converted to fiat, we may see a rise upto 2000$-5000$ max as constantly btc will be converted to fiat to pay for resources. Most likely developed countries will be the first to become full bitcoin based but 3rd world countries would still take time. But you dont expect big businesses to hold btc which will likely cause more dumping. Its very complicated to imagine this scenario.

Elwar

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Activity: 3598

Merit: 2386

Viva Ut Vivas

A lot of people want other people to get paid in bitcoins.

But won't go ahead and switch over themselves. You have the option. What are you waiting for?

*insert "I can't buy groceries with bitcoins in my area" here*

UMP Fourty 5

newbie

Activity: 15

Merit: 0

Quote from: Thekool1s on August 19, 2015, 02:51:04 AM

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

Not much will change in developing economies, As education is still a problem, You cant expect a farmer in a 3rd world country to accept bitcoin let alone use a smartphone with internet on it, Unless these people cant accept true bitcoin acceptance cant be reached, But it can surely increase the price of bitcoin, And there would be i think huge fluctuations on paydays as companies would buy btc and it would make huge changes in price. And when people start to use it by buying stuff and eventually it will be converted to fiat so price would go down.

Its a complicated situation.

Let alone farmers, how about about major markets, like Walmart, target, etc. If they started to accept and pay their employees in btc, It'd benefit both the BTC community and the markets itself.

GamNoob

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Activity: 50

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Quote from: Elwar on August 19, 2015, 02:44:29 AM

If you work in the US you can get paid in Bitcoin if your pay is direct deposited.

Use http://www.bitwage.co

More and more people are getting paid in Bitcoin weekly.

Vow, that's really great.

NextTroll

newbie

Activity: 50

Merit: 0

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

I think in 2020 they all want to get paid in Bitcoin

Thekool1s

legendary

Activity: 1512

Merit: 1218

Change is in your hands

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

Not much will change in developing economies, As education is still a problem, You cant expect a farmer in a 3rd world country to accept bitcoin let alone use a smartphone with internet on it, Unless these people cant accept true bitcoin acceptance cant be reached, But it can surely increase the price of bitcoin, And there would be i think huge fluctuations on paydays as companies would buy btc and it would make huge changes in price. And when people start to use it by buying stuff and eventually it will be converted to fiat so price would go down.

Its a complicated situation.

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

Quote from: UMP Fourty 5 on August 19, 2015, 12:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

depends on time schedule. if you will start to do it today, bitcoin network would be so flooded, that employees will have to wait weeks to get their salary (because block size is quite small for some mass adoption these days)

btw, I really don't think, that employees will ever have their salaries in bitcoin. sorry..

Topic: What would happen if employees got paid in Bitcoin? Share your opinions! - page 2. (Read 1763 times)