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Topic: Would you like to get paid in Bitcoin? (Read 4398 times)

full member
Activity: 154
Merit: 100
STILL MISSING MY 12 BTC FROM SCAMOOLAHPAL! >:O
December 22, 2014, 12:45:42 PM
#67
No I wouldnt like to get paid in bitcoin, at least not currently. The price is too volatile at the moment and actually tends to drop more often than not, so I like getting fiat and buying what I can afford each month.

Well..

If your payroll is @ $500..

BTC is @ 325.00

When you get that $ from BTC.. & let's just say tomorrow BTC rises to 334.00

How happy would you be?

FIAT doesn't increase in value. BTC does Smiley
newbie
Activity: 18
Merit: 0
December 22, 2014, 12:35:53 PM
#66
Totally agree. Currently bitcoin is not strong enough to get paid in it.
full member
Activity: 165
Merit: 100
December 22, 2014, 08:59:26 AM
#65
No I wouldnt like to get paid in bitcoin, at least not currently. The price is too volatile at the moment and actually tends to drop more often than not, so I like getting fiat and buying what I can afford each month.
legendary
Activity: 1061
Merit: 1001
December 22, 2014, 08:45:14 AM
#64
You can:
https://www.bitwage.co

I have been an advocate of a Bitcoin Credit Union because I thought that this was the only way to get paid in Bitcoin by giving your company a direct deposit number. But it looks like this company has figured out how to do it by going through payroll services (I think).

I signed up but don't have my phone for authentication but I will definitely try it out and let you know how it goes. I would love to get paid in Bitcoin. With a Xapo card and localbitcoins for cash I can drop my banks very soon.

Update:
I was able to get my account set up and log in (I had some complications because I live in Germany working for a US company). Their customer service is great, my problem was sorted out quickly and easily, if you have problems click the little chat window on the bottom right of the screen.

Once I got my profile set up it asks for my company name, company website, my company's payroll company and the payroll company's website. Most of us do not know these things offhand and will need to work with your HR. I will be working on this to see how easy it is from there and let you know how it goes.

Update 2:
I e-mailed my HR and asked what payroll service they use because I needed it for bitwage.co so I can get paid in bitcoins. They responded after what appeared to be a long e-mail chain bouncing around all over the payroll department asking if anyone can help out, finally responding that I need to speak with my specific HR representative. Fortunately, in their lengthy e-mail chain they are talking about the Payroll company they use. So I submitted that to bitwage.co and I am currently in the verification process.

A bit of advice when asking your HR department about your payroll company: don't tell them it's for bitcoin or bitwage. Just ask for the name of the payroll company. You can use google to find the website from the name. You can tell them why after they give you the name but mentioning bitcoin is like going to the train station and saying you're going on vacation to Hawaii and what is the best route to get there.

Update 3:
My Verification level 1 was completed. I was able to do my Verification level 2 by submitting a photo of my ID and proof of address. Once that was verified I was able to get to the part where I enter my Bitcoin Address. With my Bitcoin address entered they provide me with a bank account and routing number to give to my payroll for direct deposit. My direct deposit website at my company allows me to create a fixed dollar amount account and a net account for anything over that amount. I stuck a test amount of $500 in my fixed dollar amount to go to the Bitcoin direct deposit. Now I will wait to see if it goes through.

Update 4:
Just got an e-mail saying my payment went through, $500 at $317/BTC -> 1.56992012 sent to my Bitcoin address.
Next, I will convert all of my paycheck to bitcoins. I can covert BTC->USD as needed.

interesting, will look into this
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
December 22, 2014, 03:37:37 AM
#63
I start my new job at a very large petrochemical company next month. Hopefully their payroll processor is able to do this for me. With the amount I'll be getting paid I am hoping to put 40% into coins automatically this way, and continue living like I this amount was taxed from my wages, to encourage me to hodl.

From the looks of it, if you can do direct deposit, you can use bitwage.co.

hero member
Activity: 784
Merit: 1000
December 21, 2014, 07:31:32 PM
#62
I start my new job at a very large petrochemical company next month. Hopefully their payroll processor is able to do this for me. With the amount I'll be getting paid I am hoping to put 40% into coins automatically this way, and continue living like I this amount was taxed from my wages, to encourage me to hodl.
member
Activity: 62
Merit: 10
December 21, 2014, 05:56:28 PM
#61
There's really no risk right? If you don't believe in BTCs, then covert them to fiat. Otherwise hold them in BTCs and hope for long term growth and to spend. Or a mix of the two. What's the harm?
newbie
Activity: 37
Merit: 0
December 21, 2014, 10:01:32 AM
#60
getting wage in coins wouldnt be cool cuz there are not enaugh places that accept coins
legendary
Activity: 2170
Merit: 1427
December 21, 2014, 09:51:00 AM
#59
Who wouldn't Grin That's just another huge step to the Bitcoin economy , BTC to da moon  Roll Eyes

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.

It is all about liquidity.

If there are 1 million bitcoins available for trade and 100,000 people get paid 10 bitcoins per month there is a length of time between when those people obtain the bitcoins and they sell them.

If per month people keep their bitcoins for 2 weeks (get paid every other week, it takes a week before they cash them out) then the bitcoins available throughout the month is cut in half. This changes it from 1 million bitcoins available for trade to 500,000.

Every instance where bitcoins are taken off of the market contributes to a higher price.

I understand that, but that's if a lot people agree to get paid in Bitcoin. In current situation it won't do anything.

At this point it's pure gambling with your income if you decide to get paid in Bitcoin as you might end up with a huge loss or gain.

Makes it not very appealing to get paid in Bitcoin, with bills to be paid such as mortgage, insurance, car, electric, gas, etc
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
December 21, 2014, 09:31:34 AM
#58
Who wouldn't Grin That's just another huge step to the Bitcoin economy , BTC to da moon  Roll Eyes

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.

It is all about liquidity.

If there are 1 million bitcoins available for trade and 100,000 people get paid 10 bitcoins per month there is a length of time between when those people obtain the bitcoins and they sell them.

If per month people keep their bitcoins for 2 weeks (get paid every other week, it takes a week before they cash them out) then the bitcoins available throughout the month is cut in half. This changes it from 1 million bitcoins available for trade to 500,000.

Every instance where bitcoins are taken off of the market contributes to a higher price.
legendary
Activity: 2170
Merit: 1427
December 21, 2014, 09:24:10 AM
#57
Who wouldn't Grin That's just another huge step to the Bitcoin economy , BTC to da moon  Roll Eyes

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.
But that will be balanced with the bitcoins being bought by the company in first place.

Could be, but this won't cause the price to go "to the moon" as some one mentioned.

full member
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
December 21, 2014, 09:18:41 AM
#56
Who wouldn't Grin That's just another huge step to the Bitcoin economy , BTC to da moon  Roll Eyes

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.
But that will be balanced with the bitcoins being bought by the company in first place.
legendary
Activity: 2170
Merit: 1427
December 21, 2014, 09:17:26 AM
#55
Who wouldn't Grin That's just another huge step to the Bitcoin economy , BTC to da moon  Roll Eyes

You sure?

People will convert their coins into fiat in order to pay bills.

And if a company accepts bills to be paid in Bitcoin, then they just get fiat from the payment provider.

Either way, the Bitcoins will get sold.
full member
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
December 21, 2014, 09:02:15 AM
#54
Probably yes, why not  Grin Bitcoin can be payment without any problem  Grin
The risk is in the price. If you are paid 100K per year and price halves, then you could potentially lose 50K.
THats the risk you should be willing to take.
hero member
Activity: 658
Merit: 500
December 21, 2014, 08:23:00 AM
#53
Probably yes, why not  Grin Bitcoin can be payment without any problem  Grin
full member
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
December 21, 2014, 07:52:24 AM
#52
No, swings are too big.
600 to 300 is a pretty big swing imo Smiley
Even the one from 0.03$ to 1300$ was Smiley
hero member
Activity: 886
Merit: 1013
December 21, 2014, 07:47:16 AM
#51
YES! Smiley
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
December 21, 2014, 07:10:06 AM
#50
No, swings are too big.

You know when else the swings were too big? When the price was jumping from $8 to $4 and back within days. Now people wish they bought bitcoins back then but people had the exact same reasons for not getting into Bitcoin then.

newbie
Activity: 14
Merit: 0
December 21, 2014, 06:40:36 AM
#49
I don't want to get paid with something that's already going out of fashion  Smiley

OK.
That's it.
The gloves are off Young Mike.

I hope you are not too young because i am going to kick your arse.

Shut up newbie-boy  Smiley I'm the man. I made profits a year ago and now I'm the winner and those who came too late in the game and are still on the boat are Bob's food  Smiley




you shut up

a man eh.

nah smug boy more like.

So you got out last year. OK well done.
Now you come on here trolling how low it is going to go.
newbie
Activity: 28
Merit: 0
December 20, 2014, 08:51:05 PM
#48
No, swings are too big.
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